‘Rise of Skywalker’ trailer should debut soon. Why Disney has waited so long to release it

Since launching the latest trilogy of Star Wars films, Disney has deviated from the traditional timeline for releasing trailers to the public. “Star Wars: The Rise of Skywalker” appears to be following that trend. For both films, an official trailer was released during a Monday Night Football game in October. In the first two weeks of October, there were more than 100,000 mentions about the movie trailer on Twitter, according to Sprout Social, a social media management and analytics platform. Al


Since launching the latest trilogy of Star Wars films, Disney has deviated from the traditional timeline for releasing trailers to the public.
“Star Wars: The Rise of Skywalker” appears to be following that trend.
For both films, an official trailer was released during a Monday Night Football game in October.
In the first two weeks of October, there were more than 100,000 mentions about the movie trailer on Twitter, according to Sprout Social, a social media management and analytics platform.
Al
‘Rise of Skywalker’ trailer should debut soon. Why Disney has waited so long to release it Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-16  Authors: sarah whitten
Keywords: news, cnbc, companies, rise, trailers, official, skywalker, jedi, films, release, waited, disney, wars, months, soon, debut, long, movie, trailer, star


'Rise of Skywalker' trailer should debut soon. Why Disney has waited so long to release it

With just under two months until the final installment of the Skywalker Saga set to hit theaters, there’s one thing Star Wars fans are still waiting for — an official trailer.

After teaser videos at Star Wars Celebration in April and the D23 Expo in August, fans of the series are eagerly awaiting the last big promotional push from Disney-owned Lucasfilm.

Since launching the latest trilogy of Star Wars films, Disney has deviated from the traditional timeline for releasing trailers to the public.

While most blockbuster films will reveal an official, full-length trailer between five and six months before its opening weekend — “Avengers: Infinity War,” “Captain Marvel,” “Avengers: Endgame,” “Aquaman,” “Jumanji: The Next Level,” “Joker,” and “It Chapter Two” all followed this pattern — the last two Star Wars films didn’t debut an official trailer until two months before their release dates.

“Star Wars: The Rise of Skywalker” appears to be following that trend.

“The Star Wars brand is so beloved, and this movie is so greatly anticipated, that when they take a different path than traditional movie trailers it gets attention,” Paul Dergarabedian, senior media analyst at Comscore, said. “They don’t have to go by the conventional rules of trailer releasing.”

For each of the three trilogy movies, “The Force Awakens,” “The Last Jedi” and “Rise of Skywalker,” Lucasfilm released a teaser trailer during its biannual Star Wars Celebration event in April.

These teasers were short, showing only truncated clips that don’t give away much about the plot, and have been used to stir up anticipation or intrigue about a film. Then, for “Force Awakens” and “Last Jedi,” Lucasfilm remained close lipped about the films, only allowing a few character photos to enter the public eye, until six months later.

For both films, an official trailer was released during a Monday Night Football game in October. These trailers were a little over two minutes in length and gave more information about what each film was about and gave more details about the cast and plot.

Fans expect Lucasfilm will do the same with “Rise of Skywalker.” While many had predicted that a trailer was going to be released at halftime on Monday, Oct. 14, Disney had made no announcement about doing so. No trailer was shown that night.

In the first two weeks of October, there were more than 100,000 mentions about the movie trailer on Twitter, according to Sprout Social, a social media management and analytics platform.

“Trailers are there to bring visibility and generate excitement to bring us to the movies,” Peter Csathy, founder and chairman of Creatv Media, said. “Star Wars doesn’t need that. All you need to know is that there is a new Star Wars [film] coming out.”

Disney was not immediately available to comment about its marketing strategy.

Lucasfilm has been very protective of the plot of previous Star Wars films, even going so far as to place clips in trailers to set up expectations for story lines that don’t actually pan out in the film.

In “The Force Awakens” trailer it appeared that Finn, played by John Boyega, would be a new Jedi character, as he could be seen wielding a blue lightsaber. However, it was Rey, who possessed the Force.

Similarly, in trailers for “The Last Jedi,” there was a clip between Rey and Luke Skywalker that made it seem like Rey was swinging her lightsaber down on Luke. The clip was actually reversed just for the trailer. In the movie, she is actually pulling the lightsaber up, not down.


Company: cnbc, Activity: cnbc, Date: 2019-10-16  Authors: sarah whitten
Keywords: news, cnbc, companies, rise, trailers, official, skywalker, jedi, films, release, waited, disney, wars, months, soon, debut, long, movie, trailer, star


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Vaping lung illness cases expected to rise ‘considerably,’ top CDC official says

The Centers for Disease Control and Prevention is grappling with new cases of a deadly vaping lung disease every day, and the agency expects this week’s total number of illnesses to increase “considerably,” a top CDC official told Congress at a hearing Wednesday. A mysterious vaping-related lung disease has sickened nearly 1,300 people and killed at least 26, the CDC reported last week. Those totals are expected to get “considerably” worse when the agency releases its updated case report later t


The Centers for Disease Control and Prevention is grappling with new cases of a deadly vaping lung disease every day, and the agency expects this week’s total number of illnesses to increase “considerably,” a top CDC official told Congress at a hearing Wednesday.
A mysterious vaping-related lung disease has sickened nearly 1,300 people and killed at least 26, the CDC reported last week.
Those totals are expected to get “considerably” worse when the agency releases its updated case report later t
Vaping lung illness cases expected to rise ‘considerably,’ top CDC official says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-16  Authors: angelica lavito, in angelicalavito
Keywords: news, cnbc, companies, rise, official, illness, patients, considerably, disease, lung, cdc, schuchat, vapingrelated, illnesses, cases, week, vaping, expected


Vaping lung illness cases expected to rise 'considerably,' top CDC official says

Anne Schuchat, director of the Centers for Disease Control (CDC), testifies during a House Energy and Commerce hearing in Washington, D.C., on Wednesday, Sept. 25, 2019.

The Centers for Disease Control and Prevention is grappling with new cases of a deadly vaping lung disease every day, and the agency expects this week’s total number of illnesses to increase “considerably,” a top CDC official told Congress at a hearing Wednesday.

A mysterious vaping-related lung disease has sickened nearly 1,300 people and killed at least 26, the CDC reported last week. Those totals are expected to get “considerably” worse when the agency releases its updated case report later this week, CDC Principal Deputy Director Anne Schuchat told a House Appropriations subcommittee.

“This is extremely complicated and difficult. It’s fatal or potentially fatal with half of the cases requiring intensive care,” she said.

The approaching flu season complicates efforts to diagnose vaping cases, Schuchat said. The disease looks and sounds like pneumonia, which could confuse doctors. It also makes patients more vulnerable to other diseases, she said. The CDC last week issued new guidance to doctors encouraging them to assess patients for both the vaping-related disease and typical respiratory illnesses like influenza.

The CDC is tentatively calling the vaping-related illness EVALI, short for “e-cigarette, or vaping, product use associated lung injury.” Patients who contract the disease could become more vulnerable to influenza and other respiratory illnesses common in the winter months.

“It’s going to be a very challenging winter,” Shuchat said.


Company: cnbc, Activity: cnbc, Date: 2019-10-16  Authors: angelica lavito, in angelicalavito
Keywords: news, cnbc, companies, rise, official, illness, patients, considerably, disease, lung, cdc, schuchat, vapingrelated, illnesses, cases, week, vaping, expected


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J&J beats third-quarter earnings expectations on higher prescription drug sales; shares rise

Johnson & Johnson reported third-quarter earnings and revenue Tuesday that beat Wall Street’s expectations, boosted by higher sales of cancer and other prescription drugs. J&J’s pharmaceutical business, which accounts for half of the company’s revenue, posted revenue of $10.88 billion, better than the $10.41 billion projection compiled by StreetAccount. The company’s consumer unit, which makes beauty products such as Neutrogena, reported revenue of $3.46 billion, in line with Wall Street’s expec


Johnson & Johnson reported third-quarter earnings and revenue Tuesday that beat Wall Street’s expectations, boosted by higher sales of cancer and other prescription drugs. J&J’s pharmaceutical business, which accounts for half of the company’s revenue, posted revenue of $10.88 billion, better than the $10.41 billion projection compiled by StreetAccount. The company’s consumer unit, which makes beauty products such as Neutrogena, reported revenue of $3.46 billion, in line with Wall Street’s expec
J&J beats third-quarter earnings expectations on higher prescription drug sales; shares rise Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: berkeley lovelace jr, in berkeleylovelace
Keywords: news, cnbc, companies, expectations, thirdquarter, prescription, drug, rise, billion, reported, opioid, lawsuits, earnings, wall, revenue, consumer, sales, higher, shares


J&J beats third-quarter earnings expectations on higher prescription drug sales; shares rise

Johnson & Johnson reported third-quarter earnings and revenue Tuesday that beat Wall Street’s expectations, boosted by higher sales of cancer and other prescription drugs.

Here’s what the company reported compared with Wall Street estimates, based on a survey of analysts by Refinitiv:

Adjusted earnings per share: $2.12 versus $2.01 expected

Revenue: $20.73 versus $20.07 billion expected

J&J also raised its full-year guidance and now sees earnings between $8.62 and $8.67 per share, with revenue in the range of $81.8 billion to $82.3 billion.

Shares of J&J were up more than 2% in premarket trading.

J&J’s pharmaceutical business, which accounts for half of the company’s revenue, posted revenue of $10.88 billion, better than the $10.41 billion projection compiled by StreetAccount.

The company’s consumer unit, which makes beauty products such as Neutrogena, reported revenue of $3.46 billion, in line with Wall Street’s expectations. J&J’s medical device unit reported revenue of $6.3 billion, slightly better than $6.27 billion analysts were expecting.

“Our third-quarter results represent strong performance, driven by competitive underlying growth in Pharmaceuticals and Medical Devices, as well as continued optimization in our Consumer business,” J&J Chairman and CEO Alex Gorsky said in a statement.

Sales J&J’s rheumatoid arthritis drug Remicade fell 24% year over year. Sales of its multiple myeloma drug Darzalex increased 53.5% year over year to $765 million, while sales of cancer drug Imbruvica increased 30.6% to $921 million.

The maker of popular consumer product brands like Tylenol and Aveeno, J&J is facing thousands of lawsuits ranging from claims that its talc-based baby powder causes cancer to allegations that it helped fuel that nationwide opioid epidemic.

J&J in August was ordered by an Oklahoma judge to pay the state $572 million in the first ruling in the U.S. holding a drugmaker accountable for the epidemic. And last week, a Philadelphia jury ordered J&J to pay $8 billion in punitive damages for downplaying risks that its antipsychotic drug Risperdal could promote breast growth in boys.

Chief Financial Officer Joseph Wolk told CNBC on Tuesday that the company is open to “a reasonable” settlement that would settle the hundreds of opioid lawsuits from state and local municipalities, adding its painkillers represented less than 1% of the overall market.

“Where is makes sense for all stakeholders, we’ll look to have a settlement,” he said on “Squawk Box.”

Earlier this month, J&J settled opioid claims with two Ohio counties for $20.4 million.

The company did not report its litigation expenses for the third quarter.

Despite the lawsuits, J&J’s shares were up by about 1% so far this year as of Monday, and some Wall Street analysts were expecting a relatively uneventful quarter with modest growth in its pharmaceutical and consumer units.


Company: cnbc, Activity: cnbc, Date: 2019-10-15  Authors: berkeley lovelace jr, in berkeleylovelace
Keywords: news, cnbc, companies, expectations, thirdquarter, prescription, drug, rise, billion, reported, opioid, lawsuits, earnings, wall, revenue, consumer, sales, higher, shares


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US says China tariffs scheduled to rise on Tuesday suspended; no decision on other tariffs

Trump says the US has come to a substantial phase one deal with…Mnuchin said that the U.S. won’t impose a new round of tariffs on imports of Chinese goods, which were set to go into effect Oct. 15. Politicsread more


Trump says the US has come to a substantial phase one deal with…Mnuchin said that the U.S. won’t impose a new round of tariffs on imports of Chinese goods, which were set to go into effect Oct. 15. Politicsread more
US says China tariffs scheduled to rise on Tuesday suspended; no decision on other tariffs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: tucker higgins
Keywords: news, cnbc, companies, round, set, impose, china, phase, withmnuchin, trump, rise, suspended, decision, oct, wont, substantial, scheduled, tariffs


US says China tariffs scheduled to rise on Tuesday suspended; no decision on other tariffs

Trump says the US has come to a substantial phase one deal with…

Mnuchin said that the U.S. won’t impose a new round of tariffs on imports of Chinese goods, which were set to go into effect Oct. 15.

Politics

read more


Company: cnbc, Activity: cnbc, Date: 2019-10-11  Authors: tucker higgins
Keywords: news, cnbc, companies, round, set, impose, china, phase, withmnuchin, trump, rise, suspended, decision, oct, wont, substantial, scheduled, tariffs


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A carbon tax is ‘single most powerful’ way to combat climate change, IMF says

“We view fiscal policy as a crucial way of combating climate change,” said Paolo Mauro, deputy director of Fiscal Affairs Department at the IMF. “You can reshape the tax system and you can reshape fiscal policy more generally in order to discourage carbon emissions.” However, the global average carbon price is $2 a ton — a small fraction of the estimated $75 a ton price in 2030 consistent with a 2 C warming target, according to the report. The IMF estimates a $75 a ton carbon tax will lead to th


“We view fiscal policy as a crucial way of combating climate change,” said Paolo Mauro, deputy director of Fiscal Affairs Department at the IMF. “You can reshape the tax system and you can reshape fiscal policy more generally in order to discourage carbon emissions.” However, the global average carbon price is $2 a ton — a small fraction of the estimated $75 a ton price in 2030 consistent with a 2 C warming target, according to the report. The IMF estimates a $75 a ton carbon tax will lead to th
A carbon tax is ‘single most powerful’ way to combat climate change, IMF says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: emma newburger
Keywords: news, cnbc, companies, fossil, combat, imf, rise, single, climate, gas, powerful, prices, change, tax, ton, warming, carbon, price, way


A carbon tax is 'single most powerful' way to combat climate change, IMF says

Increasing the price of carbon is the most efficient and powerful method of combating global warming and reducing air pollution, according to a new report from the International Monetary Fund.

While the idea of carbon taxes on fossil fuel corporations has been spreading across the globe in the past couple decades, increasing prices on carbon emissions has received widespread backlash from those who argue the tax would raise energy bills.

But economists have long contended that raising the cost of burning fossil fuels like coal, oil and gas is the best way to mitigate climate change, and that revenue raised from the tax can be returned to consumers through rebates and dividends.

“We view fiscal policy as a crucial way of combating climate change,” said Paolo Mauro, deputy director of Fiscal Affairs Department at the IMF. “You can reshape the tax system and you can reshape fiscal policy more generally in order to discourage carbon emissions.”

Global temperatures are projected to rise by roughly 4 C above preindustrial levels by 2100. The 2015 Paris climate accord aims to limit warming to 2 C, with a long shot goal of 1.5 C. Most countries are not on track to achieve those targets, and the U.S. plans to formally withdraw from the Paris agreement in 2020.

More than 40 governments globally have implemented a form of carbon pricing, whether it be through direct taxation on fossil fuel producers or cap-and-trade programs. However, the global average carbon price is $2 a ton — a small fraction of the estimated $75 a ton price in 2030 consistent with a 2 C warming target, according to the report.

The IMF estimates a $75 a ton carbon tax will lead to the amount of emissions scientists estimate will correspond to 2 C of warming. At that level, coal prices would rise by more than 200% above baseline levels in 2030.

Under the same tax, the price of natural gas, which is used for power generation and for heating and cooking in households, would increase by 70% on average, with most of the impact in North and South America, where baseline prices are much lower. Gasoline prices would rise by 5% to 15% in most countries.

For electricity and gas, the price increases might seem substantial. However, those price rises are within the bounds of price fluctuations experienced during the past few decades, according to the IMF.

“If you think about it from a historical perspective, gasoline prices fluctuate … much more than that,” Mauro said.

“Carbon taxes … and similar arrangements to increase the price of carbon, are the single most powerful and efficient tool to reduce domestic fossil fuel CO2 emissions,” the report said.


Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: emma newburger
Keywords: news, cnbc, companies, fossil, combat, imf, rise, single, climate, gas, powerful, prices, change, tax, ton, warming, carbon, price, way


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Stock futures rise after optimistic Trump comments on US-China trade

U.S. stock futures traded higher Thursday night after President Donald Trump issued positive remarks on the U.S.-China trade talks. Dow Jones Industrial Average futures were up 45 points, or 0.2% to imply a gain of around 75 points at Friday’s open. The Dow rose as much as 257 points on Thursday before closing 150 points higher. Others, however, pointed toward some sort of deal being made that would involve holding off on higher U.S. tariffs against China. The U.S.-China trade war has dragged on


U.S. stock futures traded higher Thursday night after President Donald Trump issued positive remarks on the U.S.-China trade talks. Dow Jones Industrial Average futures were up 45 points, or 0.2% to imply a gain of around 75 points at Friday’s open. The Dow rose as much as 257 points on Thursday before closing 150 points higher. Others, however, pointed toward some sort of deal being made that would involve holding off on higher U.S. tariffs against China. The U.S.-China trade war has dragged on
Stock futures rise after optimistic Trump comments on US-China trade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: fred imbert
Keywords: news, cnbc, companies, trump, comments, optimistic, higher, chinese, night, trade, futures, points, uschina, tariffs, stock, talks, rise


Stock futures rise after optimistic Trump comments on US-China trade

U.S. stock futures traded higher Thursday night after President Donald Trump issued positive remarks on the U.S.-China trade talks.

Dow Jones Industrial Average futures were up 45 points, or 0.2% to imply a gain of around 75 points at Friday’s open. S&P 500 and Nasdaq 100 also gained about 0.2% each.

Trump told reporters that talks between the two countries are going “really well.” His comments came after he tweeted earlier in the day he would meet with Chinese Vice Premier Liu He at the White House on Friday. That tweet was enough to temporarily assuage fears about a potential lack of progress from the talks.

The Dow rose as much as 257 points on Thursday before closing 150 points higher. The S&P 500 and Nasdaq Composite climbed 0.7% and 0.6%, respectively.

Trump’s tweet came hours after a deluge of trade-related headlines Wednesday night gave investors whiplash. Some reports indicated the talks were stalling or were yielding little fruit. Others, however, pointed toward some sort of deal being made that would involve holding off on higher U.S. tariffs against China.

“Even a partial deal could be a huge boost for stocks, especially following this week’s scary headlines,” Ken Berman, founder of Gorilla Trades, said in a note. “The Chinese delegation is scheduled to leave Washington tomorrow, so another day of volatile swings might be ahead.”

The major stock indexes are little changed as investors await the outcome of the negotiations. The U.S.-China trade war has dragged on for more than a year. In that time, the U.S. has targeted billions of dollars worth of Chinese goods with tariffs. China has retaliated with levies of its own, sparking fears of slower economic growth and weaker corporate earnings expansion.

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Company: cnbc, Activity: cnbc, Date: 2019-10-10  Authors: fred imbert
Keywords: news, cnbc, companies, trump, comments, optimistic, higher, chinese, night, trade, futures, points, uschina, tariffs, stock, talks, rise


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From summer janitor to CEO of Disney: What fueled Bob Iger’s rise to the top

As CEO of Disney, Bob Iger has been sitting pretty for close to 15 years. Iger says he watched his dad bounce from job to job due to his troubles “regulating his moods.” And because of both his father’s encouragement and employment troubles, Iger started working many odd jobs at the age of 13 to jump-start his career. “I started working in eighth grade, shoveling snow and babysitting and working as a stock boy in a hardware store,” Iger says. Then at 15, he says he got a job as the summer janito


As CEO of Disney, Bob Iger has been sitting pretty for close to 15 years. Iger says he watched his dad bounce from job to job due to his troubles “regulating his moods.” And because of both his father’s encouragement and employment troubles, Iger started working many odd jobs at the age of 13 to jump-start his career. “I started working in eighth grade, shoveling snow and babysitting and working as a stock boy in a hardware store,” Iger says. Then at 15, he says he got a job as the summer janito
From summer janitor to CEO of Disney: What fueled Bob Iger’s rise to the top Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: jade scipioni
Keywords: news, cnbc, companies, life, fueled, father, gum, rise, igers, job, summer, work, disney, bob, iger, started, desks, working, ceo, janitor


From summer janitor to CEO of Disney: What fueled Bob Iger's rise to the top

As CEO of Disney, Bob Iger has been sitting pretty for close to 15 years.

Last year, he earned nearly $66 million — about 1,000 times more than his typical employee earns— which sparked some controversy about ballooning executive pay. What’s more, Forbes estimates his net worth at around $690 million.

But Iger, 68, wasn’t always part of the 1%; he had to start at the bottom just like most people, according to his new book, “The Ride of a Lifetime.”

Iger writes that he grew up in a small, mostly working-class town on Long Island, New York called Oceanside. His mother was a stay-at-home mom, while his dad worked in advertising. Iger says he watched his dad bounce from job to job due to his troubles “regulating his moods.” He was later diagnosed with manic depression.

“As I grew older, I became more aware of my father’s disappointment in himself. He’d led a life that was unsatisfying to him and was a failure in his own eyes. It’s part of why he pushed us to work so hard and be productive so that we might be successful in a way that he never was,” Iger writes.

As a child, Iger remembers his father passing his bedroom at night to make sure, he was “spending time productively,” as Iger says his father put it — that meant reading or doing homework or engaging in something that would “better” them in helping to reach their goals.

And because of both his father’s encouragement and employment troubles, Iger started working many odd jobs at the age of 13 to jump-start his career.

“I started working in eighth grade, shoveling snow and babysitting and working as a stock boy in a hardware store,” Iger says.

Then at 15, he says he got a job as the summer janitor in his school district. The position involved cleaning all the heaters and desks in every classroom. He says he had to make sure all the desks were gum-free before the school year started.

“Cleaning gum from the bottoms of a thousand desks can build character or at least tolerance for monotony, or something,” he writes.

(In fact, he’s not the only CEO to scrape gum: CEO and co-founder of private investment firm RSE Ventures Matt Higgins’ first job was scraping gum off the bottoms of chairs at McDonald’s, and he says it taught him about doing your best at everything.)

Later, while Iger attended Ithaca College in upstate New York, he spent nearly every weekend night his freshman and sophomore year making pizza at the local Pizza Hut.

During that time, Iger says, something clicked and he was determined to work harder than ever before, and learn as much as possible, so that he didn’t have the same sense of regrets that his father had around his career.

“I didn’t have a clear idea of what success meant, no specific vision of being wealthy or powerful, but I was determined not to live a life of disappointment,” he writes.

From that moment on, Iger told himself that whatever shape his life took, he was never going to toil in frustration or lack of fulfillment.

In 1974, at the age of 23, Iger started his career at ABC Television as a studio supervisor after being a weatherman and a feature news reporter at a tiny cable TV station in Ithaca.

Over the course of the next 31 years, he would hold more than 20 different positions at ABC before being named the CEO of The Walt Disney Corporation in 2005.

“I’ve been the lowliest crew member working on a daytime soap opera and run a network that produced some of the most innovative television (and one of the infamous flops) of all time. I’ve twice been on the side of the company being taken over, and I’ve acquired and assimilated several others, among them Pixar, Marvel, Lucas-film, and, most recently, 21st Century Fox,” he says.

And through it all, he credits his father the most, for encouraging him to work hard and stay productive in achieving his goals.

“I do know that so many of the traits that served me well in my career started with him. I hope that he understood, that, too.”

Don’t miss: Forget self-help: Some business execs are paying up to $1,000 an hour for hypnosis

Whole Foods CEO on plant-based meat boom: Good for the environment but not for your health


Company: cnbc, Activity: cnbc, Date: 2019-10-09  Authors: jade scipioni
Keywords: news, cnbc, companies, life, fueled, father, gum, rise, igers, job, summer, work, disney, bob, iger, started, desks, working, ceo, janitor


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A fired CEO remains the most influential person in the rise of ghost kitchens

Jeffrey MacMillan | Getty ImagesTravis Kalanick may end being known more for supporting ghost kitchens than being CEO of Uber. Venture capitalists interested in food technology are now looking to ghost kitchens to cash in on the restaurant delivery trend. Also known as virtual, cloud or dark kitchens, ghost kitchens are meant to address the demand for off-premise restaurant dining. Kalanick’s interest in ghost kitchens — and disinterest in venture funding — is making it easier for others to find


Jeffrey MacMillan | Getty ImagesTravis Kalanick may end being known more for supporting ghost kitchens than being CEO of Uber. Venture capitalists interested in food technology are now looking to ghost kitchens to cash in on the restaurant delivery trend. Also known as virtual, cloud or dark kitchens, ghost kitchens are meant to address the demand for off-premise restaurant dining. Kalanick’s interest in ghost kitchens — and disinterest in venture funding — is making it easier for others to find
A fired CEO remains the most influential person in the rise of ghost kitchens Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: amelia lucas
Keywords: news, cnbc, companies, delivery, united, company, startup, kitchens, funding, influential, ghost, restaurant, remains, kitchen, fired, ceo, zuul, rise, person


A fired CEO remains the most influential person in the rise of ghost kitchens

A Sweetgreen location in Bethesda, Maryland. Jeffrey MacMillan | Getty Images

Travis Kalanick may end being known more for supporting ghost kitchens than being CEO of Uber. Kalanick joined the likes of DoorDash and GrubHub in shaking up the restaurant industry with third-party food delivery. After his ouster, he’s kept changing it through a controlling stake in City Storage Systems — the Los Angeles-based parent company to a ghost kitchen start-up called CloudKitchens. The impact of Kalanick’s investment rippled across the United States to New York City, where another start-up was trying to get its feet off the ground. “I think, at that time, Travis planting his stake in the space was a whole new proof of concept, of market validation,” Corey Manicone, the co-founder and CEO of Zuul Kitchens, said in an interview. “Every single VC that we had spoken to since then effectively circled back.” Venture capitalists interested in food technology are now looking to ghost kitchens to cash in on the restaurant delivery trend. Also known as virtual, cloud or dark kitchens, ghost kitchens are meant to address the demand for off-premise restaurant dining. In 2018, consumers spent $10.2 billion on orders through third-party delivery platforms like UberEats and GrubHub, according to Technomic. That growth has left restaurants struggling to keep up with orders. The solution: ghost kitchens. These sites also help restaurants that want to expand to new neighborhoods. While some restaurants and third-party delivery platforms are running their own virtual kitchens, start-ups that house multiple restaurants under one roof are gaining steam with investors. Kalanick has reportedly been ramping up the virtual kitchen business through a series of deals with start-ups in China, India and the United Kingdom. Dark kitchens are relatively new in the United States but have gained more traction overseas in densely packed cities because it makes delivery much more efficient and often these sites can be opened with less red tape than in the U.S. The billionaire is reportedly funding the company through his own wealth instead of seeking outside investors. CloudKitchens did not respond to a request for comment from CNBC. Kalanick’s interest in ghost kitchens — and disinterest in venture funding — is making it easier for others to find funding. Zuul is in the process of closing its second funding round.

The value of restaurant experience

In September, Zuul opened its first location. Sweetgreen, the salad restaurant chain known for lines out the door during lunchtime, is its anchor tenant. Gaurav Jain, the co-founder and managing partner of Afore Capital, invested in Zuul in late 2018, before the company had even signed a lease. After talking to several other ghost kitchen start-ups, Jain invested in Zuul because of Manicone’s background.

Kitchen United’s Pasadena facility Source: Kitchen United

Manicone’s father was an IHOP franchisee and later owned an independent bar and grill restaurant, introducing his son to the challenges of the industry. Manicone became the first employee of Relay Delivery, a New York-based restaurant tech start-up that connects bike couriers to restaurants with delivery orders. Jain said that Kalanick’s investments in ghost kitchens seem to have prompted more interest from the broader venture capital community, particularly with those who did not have experience in food delivery. Jain was on the board of Canada’s SkipTheDishes before its sale to Just Eat, a British online food order and delivery service. For the last five years, Jain has been thinking about the potential opportunity of virtual kitchens. He uses the analogy of Amazon Web Services, the arm of the e-commerce giant that gives companies — both large and small — access to cloud computing. In his mind, Zuul will do the same for restaurants’ ability to meet delivery demand.

They’re not thinking small. They’re thinking big. And they have the restaurant background, they’re not a couple of tech people. Adam Ghobarah GV general partner

Zuul will soon face competition in its home market from Kitchen United, a Pasadena, California-based company that recently closed a $40 million Series B funding round. GV, Alphabet’s independent venture arm, doubled down on Kitchen United by leading its Series A round and co-leading its Series B funding. The start-up has ghost kitchens open in Pasadena and Chicago and plans to open a third in Scottsdale, Arizona this week. For GV general partner Adam Ghobarah, one area of increasing focus for him as an investor is the ecosystem that has developed on top of third-party delivery services. He said he believes that food delivery will displace people cooking in their homes. That belief led him to approach Kitchen United — several times.

Kitchen United CEO Jim Collins Source: Kitchen United

Kitchen United CEO Jim Collins said that the start-up was initially conservative when it came to fundraising. “Early on, we talked to a lot of investors who pushed hard for us to think about making KU look more like this company or that company, who were the darlings of the investment community at the time,” he said. Collins had served as a chief executive for a number of venture-backed companies before switching gears and opening his own restaurant, Town Kitchen and Grill in Montrose, California. Kitchen United’s Chief Operating Officer Meredith Sandland, also has restaurant experience. She served as the chief development officer for Yum Brands’ Taco Bell prior to joining the start-up. “They’re not thinking small. They’re thinking big. And they have the restaurant background, they’re not a couple of tech people,” Ghobarah said. Ghobarah said that Kitchen United also understands the necessity of attracting regional and national chains, in addition to new restaurant concepts that lack consumer awareness.

REEF Kitchens Source: REEF Technology

Another company looking to attract national chains is REEF Technology. The primary business of REEF, formerly known as ParkJockey, is operating more than 4,500 parking facilities. That business helped the Miami-based company net funding from SoftBank, which has also backed delivery providers Uber and DoorDash. The deal, struck in December, reportedly valued the start-up at more than $1 billion. In June, REEF announced its name change and plans to branch out into ghost kitchens, housed in its parking garages, that can host five or six restaurant concepts at a time. “Ghost kitchens are an emerging area, so obviously capital from SoftBank means that we’re looking at very fast growth across the sector,” REEF co-founder and CEO Ari Ojalvo said in an interview. The company has already opened more than 50 of those kitchens across 20 cities in the U.S. and plans to launch hundreds more by the end of the year.

‘Where trends are going right now’


Company: cnbc, Activity: cnbc, Date: 2019-10-07  Authors: amelia lucas
Keywords: news, cnbc, companies, delivery, united, company, startup, kitchens, funding, influential, ghost, restaurant, remains, kitchen, fired, ceo, zuul, rise, person


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September unemployment rate falls to 3.5%, a 50-year low, as payrolls rise by 136,000

Unemployment hit a fresh 50-year low in September even though nonfarm payrolls rose by just 136,000 as the economy nears full employment, the Labor Department reported Friday. Also, the jobless rate for Hispanics also hit a new record low, while the level for African Americans maintained its lowest ever. “The labor market is still strong, adding more than enough jobs each month to absorb new entrants to the labor force. But even with a strong labor market, wage growth remains muted, limiting the


Unemployment hit a fresh 50-year low in September even though nonfarm payrolls rose by just 136,000 as the economy nears full employment, the Labor Department reported Friday. Also, the jobless rate for Hispanics also hit a new record low, while the level for African Americans maintained its lowest ever. “The labor market is still strong, adding more than enough jobs each month to absorb new entrants to the labor force. But even with a strong labor market, wage growth remains muted, limiting the
September unemployment rate falls to 3.5%, a 50-year low, as payrolls rise by 136,000 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-04  Authors: jeff cox, fred imbert
Keywords: news, cnbc, companies, market, growth, report, strong, rate, payrolls, 136000, unemployment, economy, remains, labor, falls, low, 50year, rise


September unemployment rate falls to 3.5%, a 50-year low, as payrolls rise by 136,000

Unemployment hit a fresh 50-year low in September even though nonfarm payrolls rose by just 136,000 as the economy nears full employment, the Labor Department reported Friday.

The jobless rate dropped 0.2 percentage points to 3.5%, matching a level it last saw in December 1969. A more encompassing measure that includes discouraged workers and the underemployed also fell, declining 0.3 percent points to 6.9%, matching its lowest in nearly 19 years and just off the all-time low of 6.8%.

Stocks opened higher following the jobs report, with the Dow Jones Industrial Average up nearly 150 points.

Get the market reaction here.

Also, the jobless rate for Hispanics also hit a new record low, while the level for African Americans maintained its lowest ever.

At the same time, the economy saw another sluggish month of growth. The nonfarm payrolls count missed the 145,000 estimate from economists surveyed by Dow Jones; the expectation on the jobless rate was to hold steady at 3.7%.

Wages also were a disappointment, with average hourly earnings little changed over the month and up just 2.9% for the year, the lowest increase since July 2018.

The report comes amid uncertain times for the economy, with fears escalating that weakness abroad will bleed into the U.S. and possibly cause a recession. Readings earlier in the week showed continued contraction in manufacturing and a sharp decline in the much larger services industry.

“Today’s data don’t change the fundamental economic picture,” said Eric Winograd, senior U.S. economist at AllianceBernstein. “The labor market is still strong, adding more than enough jobs each month to absorb new entrants to the labor force. But even with a strong labor market, wage growth remains muted, limiting the risk that labor market tightness will push inflation meaningfully higher. The question that matters most for the economy is how long the labor market can stay strong given the ongoing slowdown in growth.”

Federal Reserve officials watch the nonfarm payrolls count for clues as to how the economy is performing. While the low unemployment rate is one sign of economic strength, the weakness in wage growth shows that the central bank remains a good distance from its goal at maintaining an inflation rate around 2%.

The central bank meets Oct. 29-30, with markets expecting another quarter-point rate cut, though the probability declined bit to about 79% following the jobs report.

“Job growth remains on its slowing trend even as labor markets continue to get tighter. While wages dropped slightly, finding qualified workers is likely to get more difficult,” said Gad Levanon, chief economist, North America, at The Conference Board. “Overall, this report provides more evidence that the labor market is still healthy and does not necessarily increase the likelihood of further rate cuts by the Federal Reserve in the remainder of the year.


Company: cnbc, Activity: cnbc, Date: 2019-10-04  Authors: jeff cox, fred imbert
Keywords: news, cnbc, companies, market, growth, report, strong, rate, payrolls, 136000, unemployment, economy, remains, labor, falls, low, 50year, rise


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The two words that are powering Warren’s rise and rallies

It has become the two-word rallying cry at Sen. Elizabeth Warren presidential campaign events: “Two cents! Warren’s wealth tax, which taxes wealth over $50 million at 2%, has quickly become the energizing force of her campaign and helped propel her rise in the polls. Now, there are “two-cents” T-shirts, “two-cents” buttons and “two-cents” refrigerator magnets. In reality, Warren’s wealth tax is far more complex. About 70,000 families would pay the tax – at a time when most European countries hav


It has become the two-word rallying cry at Sen. Elizabeth Warren presidential campaign events: “Two cents! Warren’s wealth tax, which taxes wealth over $50 million at 2%, has quickly become the energizing force of her campaign and helped propel her rise in the polls. Now, there are “two-cents” T-shirts, “two-cents” buttons and “two-cents” refrigerator magnets. In reality, Warren’s wealth tax is far more complex. About 70,000 families would pay the tax – at a time when most European countries hav
The two words that are powering Warren’s rise and rallies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-04  Authors: robert frank
Keywords: news, cnbc, companies, powering, twocents, taxes, warrens, words, warren, campaign, cents, rallies, super, wealth, tax, simple, rise


The two words that are powering Warren's rise and rallies

It has become the two-word rallying cry at Sen. Elizabeth Warren presidential campaign events: “Two cents! Two cents!”

Warren’s wealth tax, which taxes wealth over $50 million at 2%, has quickly become the energizing force of her campaign and helped propel her rise in the polls. Her surge not only speaks to the popularity of the tax, supported by more than 60% of Americans, but also Warren’s skills at turning wonky tax policy and debates over inequality into a catchy, simple slogan.

One way she helped get her message across was to discuss it by saying it was only 2 cents on the dollar for the super wealthy. Now, there are “two-cents” T-shirts, “two-cents” buttons and “two-cents” refrigerator magnets. At a recent campaign event in Iowa, two staffers dressed as pennies to fire up voters. At rallies in New York and Iowa, crowds held up two fingers and chanted “Two cents! Two cents!”

With those two words, Warren has managed to magically shrink a complex and confiscatory tax plan, which would grow the government coffers by over $200 billion a year, to a simple calculation. Who can argue that the super rich can’t afford two cents? Especially if it means better health-care and education for struggling Americans? How could a mere two cents be called socialism?

“All we’re saying is, when you make it to the top,” Warren said at a recent rally, “pitch in two cents so everybody else gets a chance to make it in America. Two cents! Two cents!”

In reality, Warren’s wealth tax is far more complex. It calls for an annual 2% tax on wealth over $50 million and 3% on wealth over $1 billion, with taxpayers expected to estimate the current value of everything from cars and real estate to art, private-equity porfolios and private businesses. About 70,000 families would pay the tax – at a time when most European countries have abandoned wealth taxes because they fail to meet revenue targets.

Lawrence Summers, the former treasury secretary under President Bill Clinton, wrote a paper with law professor Natasha Sarin that the Warren tax would “undermine business confidence, reduce investment, degrade economic efficiency and punish success in ways unlikely to be good for the country or even to be appealing to most Americans.”

For now, however, Warren’s growing army of supporters are giving America their two cents worth.


Company: cnbc, Activity: cnbc, Date: 2019-10-04  Authors: robert frank
Keywords: news, cnbc, companies, powering, twocents, taxes, warrens, words, warren, campaign, cents, rallies, super, wealth, tax, simple, rise


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