Author: Jamie Carpenter

Partnership Hits a Roadblock Krispy Kreme’s ambitious partnership with McDonald’s, aimed at selling its doughnuts in all of McDonald’s U.S. locations, has faced significant challenges. The doughnut chain has decided to temporarily pause its rollout after reaching 2,400 locations, far fewer than initially planned. This setback has led to a 25% drop in Krispy Kreme’s stock after the earnings release on Thursday. Reassessing the Deployment Originally, Krispy Kreme and McDonald’s intended to have the sweet treats available at all 13,000 U.S. McDonald’s restaurants by 2026. However, Krispy Kreme announced that the hiatus will allow it to work towards a more…

The U.S. and China are set to meet in Switzerland for high-stakes trade talks requested by the Trump administration, according to Chinese officials on Wednesday. The discussions are aimed at addressing the ongoing trade war initiated by President Donald Trump and could help resolve escalating tensions between the two global powers. China’s Position Ahead of Talks China has made it clear that it is entering the negotiations with a firm stance against U.S. tariff hikes. According to Foreign Ministry spokesperson Lin Jian, China is willing to engage in discussions “based on equality, respect, and mutual benefit,” but will not accept…

The takeover of Deliveroo by DoorDash has brought to light the growing divide between the UK and US stock markets. DoorDash’s bid values Deliveroo at £2.9 billion, creating a company with operations in over 40 countries. However, the contrasting fates of the two companies highlight the shifting fortunes of their respective markets. While Deliveroo has recently turned a profit, its stock has struggled, whereas DoorDash has seen its market value soar over the past few years. Contrasting Fortunes of US and UK Listings Deliveroo and DoorDash both started as food delivery services, expanding their offerings to include other convenience items…

Warren Buffett, the legendary investor and CEO of Berkshire Hathaway, announced on Saturday at the company’s annual shareholder meeting that he will step down at the end of this year. He officially recommended Greg Abel, the 62-year-old CEO of Berkshire Hathaway Energy, as his successor. Details of the Succession Plan The board of directors has approved the plan, with Abel set to take over as CEO of Berkshire Hathaway in 2026. Buffett will remain with the company as executive chairman. Abel has been a 25-year veteran of Berkshire Hathaway, and Buffett had already named him as the next in line…

Exxon’s Q1 Profit Declines Due to Weaker Crude Prices Exxon Mobil’s first-quarter profit took a hit, falling to its lowest level in years, as weaker crude prices and higher costs weighed on performance. The oil and gas giant earned $7.71 billion, or $1.76 per share, for the three months ending March 31, compared to $8.22 billion, or $2.06 per share, in the same period last year. Although the results exceeded Wall Street expectations, revenue of $83.13 billion fell short of analysts’ forecast of $84.15 billion. Chevron Also Reports Weakest Q1 Profits in Years Exxon’s rival Chevron reported similarly disappointing first-quarter…

Weakened Consumer Spending Hits Kellanova’s First Quarter Pringles maker Kellanova (K.N) reported disappointing first-quarter results on Thursday, missing market expectations for net sales as weakened consumer spending in its biggest market, the U.S., weighed heavily on performance. The company noted that inflationary pressures were particularly impactful in the U.S., which continues to face the economic uncertainty caused by President Donald Trump’s sweeping trade policies. Kellanova is forecasting further challenges this year, with weak spending expected to persist across various markets. Rising Costs and Price Increases Across Markets In response to rising input costs, Kellanova has been implementing price hikes across…

US consumer spending surged by 0.7% in March, marking the biggest monthly gain in over two years, driven by concerns over President Donald Trump’s tariffs and rising inflation, according to the latest report from the Commerce Department. Strong March Consumer Spending Consumer spending for March saw a sharp rise, increasing by 0.7% from February, bolstered by a surge in durable goods, particularly automobiles. This marked the highest growth in consumer spending since 2021, with retail and durable goods showing robust gains. Americans’ rush to make purchases ahead of the expected price hikes due to tariffs has played a pivotal role…

While many retailers are bracing for profits to take a hit due to the impact of tariffs, Oddity Tech is defying the trend, raising its outlook after another quarter of strong growth. The beauty and tech retailer, known for brands like Il Makiage and Spoiled Child, has hiked both its earnings and profit guidance for fiscal 2025. In a stark contrast to other companies, Oddity has no immediate plans to raise prices due to the effect of new levies. Mitigating Initiatives and Optimistic Outlook Despite the uncertainty around tariffs, Oddity remains confident in its ability to navigate these challenges. Finance…

As the year begins, the U.S. economy is witnessing a tale of two consumers. On one hand, lower-income earners are tightening their spending, focusing primarily on essentials. On the other hand, wealthier consumers are continuing to spend freely, indulging in dining out, luxury travel, and other perks. This divide has become increasingly evident, especially in the first-quarter results from major U.S. credit card lenders. Disparity in Spending Habits The effects of President Donald Trump’s trade policies have rippled through the economy, raising concerns about the potential impact on consumer sentiment. While overall spending remains strong, signs of stress are beginning…

Core inflation in Tokyo accelerated to a two-year high in April, driven by soaring food costs, complicating the Bank of Japan’s (BOJ) efforts to navigate its ultra-loose monetary policy. The rise in inflation highlights the delicate balance the BOJ faces in managing economic risks, particularly from the ongoing U.S. tariff situation and rising domestic prices. Inflation Hits Two-Year High The Tokyo Consumer Price Index (CPI), excluding volatile fresh food prices, rose 3.4% in April compared to a year earlier, marking the highest level since April 2023. This was above the median market forecast of 3.2%, following a 2.4% increase in…