The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
Trump does have some powerful tools that would not require approval from U.S. Congress.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
As demand for lab monkeys continues to rise, U.S. scientists are reporting delays in research projects because they can't obtain enough animals, according to the National...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
Trump said he will raise tariffs on $250 billion in Chinese goods to 30% and hike duties on another $300 billion in products to 15%.Politicsread more
Subway is betting that a partnership with Beyond Meat can revive its struggling business.
The sandwich chain is partnering with the maker of plant-based meat products, starting with a test of a Beyond Meatball Marinara sub. The limited-time sandwich will be available in 685 locations in the U.S. and Canada starting in September.
Sales to restaurants accounted for nearly half, or $33.1 million, of Beyond's net sales during its second quarter. The El Segundo, California-based company has snatched up partnerships with chains like Dunkin', Del Taco and Tim Hortons as more consumers eat meat alternatives.
Euromonitor is forecasting that the U.S. market for meat substitutes will grow to $2.5 billion by 2023. Flexitarians — omnivores who are looking to reduce their meat intake — make up 98% of buyers of meat substitutes, according to Nielsen data.
Investor enthusiasm about the growth of vegan meat alternatives and Beyond's future opportunities have sent the company's stock soaring since its initial public offering in May. Shares of Beyond, which has a market value of $9.8 billion, are up 544% since its IPO, although they have tumbled in the last week after a secondary stock offering.
Partnerships are also part of Subway's comeback strategy. In the last six weeks, Subway has announced partnerships with King's Hawaiian for its bread and Halo Top for its first-ever milkshake. It is also remodeling 10,500 U.S. stores and rolling out delivery across the nation.
Subway, which is privately held, had seen years of massive expansion. During the 2008 financial crisis, the sandwich chain saw success with its $5 footlong. But newer Subway restaurants began to steal sales from nearby locations. Also, rivals like Chipotle Mexican Grill and Potbelly appealed to customers with seemingly healthier fare, and rising commodity costs made the signature foot-long sandwich deal unprofitable.
In 2016, Subway closed more restaurants than it opened and has since accelerated the pace of closures. In 2018, it shuttered more than 1,100 U.S. locations, bringing its total number of U.S. stores to fewer than 25,000, according to franchise disclosure documents. Subway is facing multiple lawsuits from former franchisees alleging that it wrongfully terminated their franchise agreements.
Despite the closures, Subway is still the largest U.S. restaurant chain by number of stores, topping McDonald's roughly 14,000 U.S. locations.