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Hotels, Restaurants and Leisure

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  • McDonald's CEO releases turnaround plan, stock dips Monday, 4 May 2015 | 8:34 AM ET

    May 4- McDonald's Corp's new chief executive on Monday laid out initial plans for luring back customers, boosting sales and transforming the world's biggest restaurant chain by revenue into a "modern, progressive burger company." "I will not shy away from the urgent need to reset this business," said CEO Steve Easterbrook, who took the helm on March 1 following one of...

  • LAS VEGAS— The aging Riviera Hotel and Casino on the Las Vegas Strip will age no more as of noon. The 2,075- room building and the 26 acres it sits on was sold to the Las Vegas Convention and Visitors Authority in February. The publicly-funded tourism agency plans to tear down the casino-hotel where Liberace and Frank Sinatra were once headliners and expand the Las...

  • LOS ANGELES, May 3- McDonald's new Chief Executive Steve Easterbrook is set to unveil his plan on Monday to revive growth as the world's largest hamburger chain struggles to win back consumers and investors. He'll be aiming to persuade people such as Janna Sampson, co-chief investment officer at OakBrook Investments, which bought McDonald's shares on the...

  • OMAHA, Neb.— Investor Warren Buffett is defending the aggressive cost cutting that 3 G Capital is using at companies the firm has worked with Buffet's Berkshire Hathaway to buy. Berkshire and 3 G teamed up to buy H.J. Heinz, and now the two are working on buying Kraft Foods. Berkshire also helped finance 3 G's acquisition of Canadian restaurant chain Tim Hortons.

  • Overhyped? Mayweather-Pacquiao loses some steam Friday, 1 May 2015 | 11:39 AM ET
    Workers install signs for an upcoming bout at the MGM Grand Garden Arena, April 27, 2015, in Las Vegas. Floyd Mayweather Jr. and Manny Pacquiao are scheduled to fight May 2.

    Sky-high ticket prices and hotel room rates are starting to come down, though they remain inflated beyond anything Vegas has ever seen.

  • ALBANY, N.Y.— New York's attorney general has announced a settlement for $375,000 with the operator of 13 Kentucky Fried Chicken restaurants in New York City. The settlement with KFC Corp. franchisee Divine Investors LLC and owner Hiren Patel involves restitution for workers for labor law violations. Authorities say more than 700 current and former...

  • Habit Restaurants tops Street 1Q forecasts Thursday, 30 Apr 2015 | 5:24 PM ET

    IRVINE, Calif. _ Habit Restaurants Inc. on Thursday reported first-quarter earnings of $683,000. Habit Restaurants expects full-year revenue in the range of $221 million to $225 million. Habit Restaurants shares have risen slightly more than 2 percent since the beginning of the year.

  • Fiesta Restaurant Group posts 1Q profit Thursday, 30 Apr 2015 | 4:21 PM ET

    ADDISON, Texas _ Fiesta Restaurant Group Inc. on Thursday reported first-quarter profit of $10.5 million. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share. Fiesta Restaurant Group shares have dropped 17 percent since the beginning of the year.

  • Starbucks opens first express store in New York City Thursday, 30 Apr 2015 | 11:33 AM ET

    April 30- Starbucks Corp on Thursday opened the first of five express stores planned for 2015 in New York City as it and other restaurant chains work to give service times a double shot of speed. The opening comes as companies like Starbucks, McDonald's Corp, Panera Bread Co and Chipotle Mexican Grill Inc experiment with ways to boost sales, speed up service and...

  • NEW YORK— Labor organizers are opening a new front in their campaign for a $15- an-hour wage for fast-food workers with a push to mobilize an unusual ally: franchisees. The International Franchise Association, which represents franchisors like McDonald's, Subway and Wendy's, said in a statement that franchisees indicate "incredibly high satisfaction rates."

  • Host Hotels reports 1Q results Thursday, 30 Apr 2015 | 6:18 AM ET

    BETHESDA, Md. _ Host Hotels& Resorts Inc. on Thursday reported a key measure of profitability in its first quarter. The average estimate of 13 analysts surveyed by Zacks Investment Research was for funds from operations of 33 cents per share. Host Hotels expects full-year funds from operations in the range of $1.52 to $1.55 per share.

  • Record pollution fine for McDonald's supplier in China Thursday, 30 Apr 2015 | 12:30 AM ET

    BEIJING— A french fry supplier to the McDonald's restaurant chain in China has been issued Beijing's biggest-ever pollution fine for releasing dirty wastewater, state media reported. The official Xinhua News Agency said late Wednesday that Beijing environmental officials levied a record fine of 3.8 million yuan, or more than $650,000, against Beijing...

  • Record pollution fine for McDonald's supplier in China Wednesday, 29 Apr 2015 | 11:50 PM ET

    BEIJING— A french fry supplier to the McDonald's restaurant chain in China has been issued Beijing's biggest-ever pollution fine for releasing dirty wastewater. The official Xinhua News Agency reported late Wednesday that Beijing environmental officials levied a record fine of 3.8 million yuan, or more than $650,000, against Beijing Simplot Food...

  • Starwood Hotels and Carter's are big market movers Wednesday, 29 Apr 2015 | 5:34 PM ET

    NEW YORK— Stocks that moved substantially or traded heavily Wednesday on the New York Stock Exchange and the Nasdaq Stock Market:. Starwood Hotels Hotels& Resorts Worldwide Inc., up $6.73 to $87.53. Lumber Liquidators Holdings Inc., down $6.66 to $26.76.

  • *Beijing urging banks to support small businesses. BEIJING, April 30- Private entrepreneurs in China are voicing unprecedented criticism of government, encouraged by policies and rhetoric from Beijing emphasising support for the most productive sectors of the economy. In the past two weeks, Premier Li Keqiang has exhorted Chinese banks to cut their fees and...

  • April 29- Starwood Hotels& Resorts Worldwide Inc said it was exploring strategic and financial alternatives and "no option is off the table." Starwood said on Wednesday it had retained Lazard to assist in exploring alternatives. Net income attributable to Starwood fell to $99 million, or 58 cents per share, in the first quarter ended March 31 from $137 million, or 72...

  • Starwood Hotels considering strategic options Wednesday, 29 Apr 2015 | 7:35 AM ET

    NEW YORK— Starwood Hotels& Resorts Worldwide says its board of directors will explore "a full range" of strategic and financial options for the hotel company. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share. Eight analysts surveyed by Zacks expected $1.4 billion.

  • Starwood Hotels exploring strategic alternatives Wednesday, 29 Apr 2015 | 7:18 AM ET

    April 29- Starwood Hotels& Resorts Worldwide Inc said it was exploring strategic and financial alternatives and "no option is off the table." Regis and Sheraton hotel brands, rose 6 percent to $86 in premarket trading on Wednesday. The company, which has a market value of about $14 billion, said it had retained Lazard to assist in the process.

  • Starwood Hotels tops Street 1Q forecasts Wednesday, 29 Apr 2015 | 7:09 AM ET

    STAMFORD, Conn.— Starwood Hotels& Resorts Worldwide Inc. on Wednesday reported first-quarter net income of $99 million. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share. For the current quarter ending in June, Starwood Hotels expects its per-share earnings to range from 70 cents to 74 cents.

  • April 29- Hilton Worldwide Holdings Inc, owner of Waldorf Astoria and Conrad brands of hotels, reported higher-than-expected quarterly revenue, helped by higher room rates and increased occupancy. Net income attributable to shareholders rose to $150 million, or 15 cents per share, from $123 million, or 12 cents per share. Analysts on average expected a profit of...