Inflation is cooling, but prices on many items are going to stay high for months

A grocery store in New York. Wang Ying | Xinhua News Agency | Getty Images Inflation may be cooling. But, for most Americans, the price of a cup of coffee or a bag of groceries hasn’t budged. In the months ahead, the big question is whether consumers will start to feel relief, too. related investing news Over the past few months, many of the key factors that fueled a four-decade high in inflation have begun to fade. Shipping costs have dropped. Cotton, beef and other commodities have gotten cheaper. And…

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Papa John’s delivery driver staffing levels are getting ‘progressively better,’ CEO says

Papa John’s is seeing improvement in staffing levels for delivery drivers, CEO Rob Lynch told CNBC’s Jim Cramer on Monday. “April was a challenging month, but our staffing situation has gotten progressively better. We’re starting to get drivers to come in and take the orders. … Our demand is still huge, and it’s been a challenge servicing those orders,” Lynch said in an interview on “Mad Money,” adding that partnerships with DoorDash, GrubHub and Uber Eats have helped mitigate labor challenges. Papa John’s reported better-than-expected earnings and revenue in its…

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UK watchdog puts 50 crypto companies on notice over ‘misleading’ ads

A bitcoin ATM inside a shop in Finsbury Park, London, on Feb. 4, 2022. Luke MacGregor | Bloomberg | Getty Images LONDON — Over 50 cryptocurrency companies have been sent enforcement notices by the U.K.’s advertising watchdog as part of a regulatory crackdown on promotions in the industry. The Advertising Standards Authority said Tuesday it has told the firms to review their ads and make sure they are in compliance with the rules. It also threatened firms with targeted sanctions if “problem ads” persist after May 2. This would include…

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Burger King halts corporate support for its 800-plus franchised locations in Russia

An employee of Burger King restaurant, prepares an order with Coca-Cola in Moscow, Russia January 21, 2010. Denis Sinyakov | Reuters Burger King announced Thursday it has halted corporate support for its 800-plus franchised restaurants in Russia. The Restaurant Brands International chain said it will refuse approvals for any investment or expansion. The suspension also includes pausing operations, marketing and its supply chain. Burger King’s announcement comes after a flurry of other U.S. fast-food chains — including its rival McDonald’s — suspended their corporate support to their Russian locations earlier…

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McDonald’s says Russian shutdown will cost the fast-food chain $50 million a month

A McDonald’s restaurant in St. Petersburg, Russia. Peter Kovalev | TASS | Getty Images McDonald’s CFO Kevin Ozan said at the UBS Global Consumer and Retail Conference on Wednesday that the company is still calculating the impact on its business. However, McDonald’s currently estimates that it will cost about $50 million per month, or roughly 5 cents to 6 cents per share. For comparison, McDonald’s reported fourth-quarter net income of $1.64 billion and earnings per share of $2.18. The company has committed to paying all of its approximately 62,000 Russian…

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Yale professor behind corporate ‘naughty-or-nice list’ lauds U.S. brands’ decision to pause Russia business

Jeffrey Sonnenfeld, Yale School of Management Scott Mlyn | CNBC The Yale professor who put together a list of major Western companies still operating in Russia applauded multiple major American brands’ decisions to pause business in that country over its government’s war on Ukraine. “I am feeling pretty good about this!” Jeffrey Sonnenfeld, professor at the Yale School of Management, told CNBC in an email Tuesday after hearing the news that McDonald’s, Starbucks and Coca-Cola were halting operations in Russia. PepsiCo soon followed suit with its own announcement that it…

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Stocks making the biggest moves premarket: Live Nation, SeaWorld, Gannett and others

Check out the companies making headlines before the bell: Live Nation (LYV) – The live event producer’s shares jumped 5.4% in a down market after reporting better-than-expected quarterly revenue and saying it has already sold 45 million tickets for 2022 events even as ticket prices rise substantially. SeaWorld Entertainment (SEAS) – The theme park operator earned 92 cents per share for its latest quarter, well above the 29 cent consensus estimate. Revenue came in above forecasts, more than doubling a year ago, with park visitors spending more per person than…

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UK launches crackdown on ‘misleading’ cryptocurrency ads

The crypto ecosystem has expanded significantly in recent years. While institutions such as the IMF are starting to embrace its innovation, they are also calling for investors to exercise caution. Jakub Porzycki | NurPhoto via Getty Images LONDON — The U.K. government says it will bring cryptocurrency ads under tighter scrutiny and crack down on “misleading” claims that may cause investors to lose money. Finance Minister Rishi Sunak plans to bring the ads under the same rules for financial promotions, according to proposals announced Tuesday. The government will introduce legislation…

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Crypto ads banned by UK watchdog for failing to highlight risk

The U.K. advertising watchdog banned seven cryptocurrency ads on Wednesday and said they must not appear again. The Advertising Standards Authority said the ads were “banned for irresponsibly taking advantage of consumers’ inexperience and for failing to illustrate the risk of the investment.” The banned ads included a website and Twitter post from a pizza chain as well as a digital poster from a crypto exchange. The majority of the banned ads were put out by crypto exchanges and crypto trading platforms. Companies affected by the bans include eToro, Coinburp,…

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Higher restaurant wages whack profits—some warn more pain is still ahead

Employees prepare orders for customers at a Chipotle Mexican Grill restaurant in Hollywood, California. Patrick T. Fallon | Bloomberg | Getty Images Customers are returning to restaurants in droves, but workers haven’t, putting even more pressure on fast-food chains to retain market share and protect profits while navigating a tight labor market. Restaurant executives have painted a bleak picture of staffing challenges to investors on their earnings calls in the last two weeks. CEOs like Domino’s Pizza’s Ritch Allison, Chipotle Mexican Grill’s Brian Niccol and McDonald’s Chris Kempczinski shared details…

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