Arne Sorenson, Marriott president & CEO, breaks down Marriott's second quarter results and weighs in on current travel trends, including trips to Russia.» Read More
The Stamford, Connecticut- based company said net income increased to $153 million, or 80 cents per share, from $137 million, or 71 cents per share, in the same quarter a year earlier. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.
*China food regulator visits 581 food-related businesses. Shanghai police detained five people on Wednesday, including the head and the quality chief of Shanghai Husi Food, a supplier to foreign fast-food brands including KFC, McDonald's Corp and coffee chain Starbucks Corp over allegations it supplied out-of-date meat.
July 24- Starwood Hotels& Resorts Worldwide Inc, owner of the Sheraton and Westin brands, reported an 11 percent rise in quarterly profit as occupancy and room rates increased. The company's net income rose to $153 million, or 80 cents per share, for second quarter ended June 30, from $138 million, or 71 cents per share, a year earlier.
Fast food chains in China suspended use of products from Shanghai Husi Food Co. after a television station reported last weekend it repackaged and sold meat past its use-by date. I will not try to and defend it or explain it, "said Sheldon Lavin, chairman and chief executive of Aurora, Illinois- based OSI Group, which owns Husi Food.
SHANGHAI, July 24- China's food regulator has visited close to 600 restaurants, businesses and food distributors as it investigates a fast-spreading food safety scare that has dragged in a number of global brands and hit food outlets as far away as Japan.
SHANGHAI, July 24- China's food regulator has visited close to 600 restaurants, businesses and food distributors, the watchdog said in a statement, in an investigation into a fast-spreading food safety scare. The safety scare has already dragged in U.S. chains McDonald's Corp, KFC-parent Yum Brands Inc and coffee giant Starbucks Corp..
Facebook on a roll as 2nd- quarter earnings, revenue surpass expectations Standard& Poor's 500 index ekes out all-time high after Apple and Boeing report earnings Still-slow rebound belies a sturdier economy with less consumer debt and more educated workers IMF sees US growth this year at weakest pace since recession after sharp 1 Q contraction Atlantic City mayor says 6 potential buyers for Revel casino; Atlantic Club may be re-sold In a divided vote, SEC supports an end to $1 a share price for some riskier money-market funds Japan trade deficit widens to $8 billion in June South Korea's growth hits lowest level in 3 quarters on weak consumer spending American meat supplier in China scandal has ties to many fast-food chains Oil rises above $103 a barrel after US gov't says oil supplies fell by 4 million barrels
July 23- Eight months ago in front of a crowd of food industry executives gathered at a fancy Chicago hotel, a top McDonald's Corp executive lauded the boss of meat supplier OSI Group for his dedication to the fast-food giant's "McFamily".
CHICAGO, July 23- OSI Group, the U.S.-based meat supplier at the center of a new food safety scandal in China, on Wednesday admitted to problems at a plant in Shanghai that have cost the company business with top fast-food chain Yum Brands Inc..
ATLANTIC CITY, N.J.— Atlantic City's mayor said Wednesday there are six potential buyers for the Revel Casino Hotel, which is up for sale next month at a bankruptcy auction. However, a deed restriction as part of the sale from Caesars Entertainment to a Florida firm prohibits the building from being used again as a casino.
This week, U.S. coffee chain Starbucks is opening three of them. Vietnam's entrenched coffee culture means Starbucks is delving deeper into what could be one of its most challenging markets yet.
SHANGHAI, July 23- Shanghai police said on Wednesday they detained five people in an investigation into a Chinese-based supplier of foreign fast-food brands, including KFC, McDonald's Corp and coffee chain Starbucks Corp, over allegations the firm supplied old and rotten meat.
Solid earnings for a range of big companies helped nudge the stock market higher on Tuesday. The restaurant chain Chipotle Mexican Grill and the cable giant Comcast surged after reporting better results than Wall Street expected. The Dow Jones industrial average rose 61.81 points, or 0.4 percent, to close at 17,113.54.
NEW YORK— Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market:. Chipotle Mexican Grill Inc., up $69.84 to $659.77. The commercial financing company is buying OneWest Bank in a $3.4 billion cash-and-stock deal, adding retail branches in California.
Silicom Ltd. fell 23.6 percent to $29.83. TG Therapeutics fell 13.9 percent to $8.26. Del Frisco's Restaurant Group fell 12.0 percent to $22.21.
NEW YORK— Solid earnings for a range of big companies helped nudge the stock market higher on Tuesday. The restaurant chain Chipotle and the cable giant Comcast surged after reporting better results than Wall Street expected. COMMENT: "The news today is pretty good," said JJ Kinahan, chief strategist at TD Ameritrade.
*Starbucks, Burger King, Dicos pull products from Shanghai Husi. SHANGHAI, July 22- A toxic food scandal in China is spreading fast, dragging in U.S. coffee chain Starbucks, Burger King Worldwide Inc and others, as well as McDonald's products as far away as Japan.
*Starbucks says has pulled chicken products from Shanghai Husi. SHANGHAI, July 22- A toxic food scandal in China is spreading fast, dragging in U.S. coffee chain Starbucks, Burger King Worldwide Inc and others, as well as products of McDonald's Corp as far away as Japan.
July 21- Burrito chain Chipotle Mexican Grill Inc last quarter achieved what many of its rivals could only dream of: It raised prices, yet attracted more diners during a period of sluggish economic growth. Rival Panera Bread Co was on a similar trajectory until last year, when "operational friction" caused it to stumble on speed.
It once owned a handful of stores in New York City, Seattle and Philadelphia but closed most, including one in Times Square, in 2010.. At the same time Starbucks Corp last week opened its first store in Colombia 43 years after the world's biggest coffee chain began buying beans from the country famous for its premium arabica coffee.