The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
traffic@ (Adds analyst comment, details on international expansion; updates share movement)
Aug 2 (Reuters) - Restaurant Brands International Inc's quarterly profit beat expectations on Friday, as product launches including the plant-based Impossible Whopper drew diners to Burger King, and its investments abroad paid off.
Restaurant Brands shares, which have risen 42% this year, were up as much as 4.2% at a record high of C$100.35.
Fast-food chains in North America are exploring ways to add faux meat offerings to their menu, as more customers switch to vegan diets. Burger King was one of the first publicly listed burger chains to join the vegan bandwagon.
The burger maker, known for its Whopper burgers, and plant-based burger maker Impossible Foods in April started selling their vegan burger Impossible Whopper in 59 stores in and around St. Louis, Missouri, with nationwide sales expected by this month.
"The August launch of the Impossible Burger will give bulls reason to stay constructive," Bernstein analysts said in a note on Friday.
Restaurant Brands, which also owns coffee-and-donut chain Tim Hortons and fast-food restaurant chain Popeyes Louisiana Kitchen, said Burger King was seeing strength outside of the United States, particularly in China, India, Brazil and Spain.
Tim Hortons also serves breakfast sandwiches made with faux-meat burger maker Beyond Meat Inc's Beyond Sausage in Canada.
Tim Hortons is set to enter Thailand, its third market in Asia, while Restaurant Brands is also expanding its fast-food restaurant chain Popeyes Louisiana Kitchen into Spain.
Restaurant Brands, which has over 26,000 restaurants globally, said https://in.reuters.com/article/rstrnt-brnd-outlook/restaurant-brands-plans-to-ex p a n d - i t s - b r a n d s - t o - o v e r - 4 0 0 0 0 - r e s t a u r a n t s - g l o b a l l y - i d I N L 4 N 2 2 R 3 1 J in May it plans to expand all three of its brands to more than 40,000 restaurants globally in the next eight to ten years, making it one of the largest restaurant companies in the world.
Comparable sales at Burger King, the largest business of Restaurant Brands, rose 3.6% in the second quarter. Sales at Tim Hortons and Popeyes Louisiana Kitchen increased 0.5% and 3%.
The company's net income fell 18% to $257 million in the quarter ended June 30.
On an adjusted basis, the company earned 71 cents per share, while analysts on average had estimated 65 cents, according to IBES data from Refinitiv.
Revenue rose 4.2% to $1.4 billion. (Reporting by Arundhati Sarkar in Bengaluru; Editing by Maju Samuel)