A surface-to-air missile shot down a U.S. military drone over the Strait of Hormuz, a U.S. official said Thursday.World Politicsread more
President Donald Trump has publicly blamed the Federal Reserve's interest rates hikes for holding back U.S. economic growth.The Fedread more
China's President Xi Jinping arrived in Pyongyang on Thursday morning for a state visit to North Korea — the first by a Chinese state leader in 14 years. Experts say the move...Asia Politicsread more
Gold prices spiked in the afternoon of Asian trading hours on Thursday after a dovish U.S Federal Reserve opened the door to further rate cuts, and the 10-year Treasury yield...Metalsread more
The Fed came very close to promising a rate cut Wednesday, and now markets are focused on a possible July rate cut.Market Insiderread more
Waymo has signed a deal with Renault and Nissan to develop self-driving cars and trucks for use in France, Japan and possibly other countries in Asia, including China, the...Autosread more
It's crucial to note that the culprit behind attacks on two commercial tankers last week has not been conclusively proven.World Politicsread more
"No U.S. drone was operating in Iranian airspace today," a U.S. Central Command spokesman said, according to NBC News.World Politicsread more
The Fed left interest rates unchanged at its monetary policy meeting. The U.S. central bank did, however, drop the word "patient " from its statement and said it would "act as...Asia Marketsread more
As the presidents of U.S. and China near a highly anticipated meeting on trade, the gap in both sides' expectations regarding a deal remains wide.World Politicsread more
Markets had expected the central bank to keep its benchmark interest rate steady while setting up a cut at the July meeting.The Fedread more
Chili's is hoping that less really is more. The casual dining chain known for its fajitas and burgers is slimming down, ditching more than 50 items from its menu.
The Texas-based restaurant company said Friday that by removing 40 percent of its menu items, it will be able to focus on guest experience and food quality, and make things easier for its kitchen staff.
"We've invested heavily," Kelli Valade, president of Chili's, told CNBC. "We've invested millions."
As part of this investment, Valade said the company has made its burgers, ribs and fajitas bigger and better. Customers will notice larger portion sizes starting Sept. 18, she said.
"I think that guests will see that they can get all the great things they love, just faster, hotter, served quicker, and it will be a better overall experience for everyone," Valade said.
Perhaps one of the biggest reasons Chili's is narrowing its focus from 125 menu items to 75 is the behind-the-scenes trouble the larger menu was causing. Valade said the kitchen was stretched thin and, with a smaller menu, the company can give guests a faster experience, which has been an issue for the restaurant.
These days customers are looking for quick and customizable food that doesn't cost too much and can be delivered to their doorstep. This has driven them away from sit-down staples like Chili's and toward less traditional chains like Shake Shake and Blaze Pizza.
Back in June, JPMorgan analyst John Ivankoe cited Chili's as one of the casual dining restaurants that have been facing a laundry list of challenges, including losing foot traffic to fast casual chains, inflating menu prices too high and being unable to adapt fast enough to in-demand food trends.
At the time, he said that Chili's needed to focus on its core products, like its baby-back ribs and fajitas, to have a chance at boosting customer satisfaction and, in turn, sales. He said the restaurant would also benefit from cutting prices or improving food quality.
It seems that Chili's is taking that advice to heart.
"We grew our menu a bit, and we weren't being the best versions of ourselves," Valade said. "We are getting back to our roots."