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North America
CNBC Finance

Starbucks to shutter about 250 stores in latest round of cafe closures

Starbucks on Thursday announced it will close about 1% of its North American cafes as part of its turnaround. Under CEO Brian Niccol, Starbucks has staged a revamp of its U.S. business that has focused on improving the customer experience, including in-person interactions at its cafes. The announcement marks the second round of closures in North America during Niccol's two-year tenure. Starbucks expects to shutter about 250 underperforming cafes out of its more than 18,000 locations in North America. "We have carefully reviewed our North America coffeehouse portfolio and identified locations where we do not believe we can consistently deliver the experience we want for customers and partners or where we don't see a path to acceptable financial performance," Mike Grams, Starbucks chief operating officer, wrote in a letter addressed to employees. For fiscal 2026, Starbucks is now projecting net new openings of 440 cafes, down from its prior outlook of 600 to 650 locations. Those new cafes will come from its international markets. "The Company continues to see significant longer-term growth opportunity ahead in North America and is actively developing a strong pipeline of new coffeehouses," the company said in a regulatory filing. Most of the closures will occur before the end of fiscal 2026, according to the filing. Starbucks' fiscal year ends later this month. The company expects to incur about $300 million in restructuring charges related to the closures. About $200 million of that charge will be related to the costs of exiting leases early and paying employees separation benefits. The remaining $100 million will be non-cash charges from the disposal and impairment of its company-owned restaurant assets. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Starbucks to shutter about 250 stores in latest round of cafe closures
Europe
BBC Business

My hometown shows that high streets have to change or die

ByEmma SimpsonBusiness correspondentThe empty building that used to be the home of Marks & Spencer in Aberdeen is one of the first things you see when you arrive off the train and come into the city centre. The sign has gone, though the shape of the lettering can still be made out; the windows are blacked out and the doors boarded up. This is my hometown. As a teenager, I spent hours on Union Street, its main thoroughfare, nicknamed the Granite Mile after the local silver-grey stone. It was the place to try on all the latest fashions from the likes of Clockhouse and Chelsea Girl. The street used to be packed with shoppers from across the north-east of Scotland. "I come to Union Street to take a bus somewhere else... there's nothing to shop for now… it's horrendous," complains Marie Sim, a lifelong Aberdeen resident. It's a similar story across the country: High Streets, once bursting with shops, hit first by the rise of out-of-town retail centres and then by online commerce. But Aberdeen is in the thick of an ambitious turnaround plan. The port city has essentially declared war on its empty shop problem, taking an unusually hands-on approach to filling vacant units and bringing long-neglected upper floors of buildings into use. On top of that, the council is pouring tens of millions into trying to make the city centre a destination again. Like many other places, it's leaning into the "experience economy", with a new indoor food and drink market and a major redevelopment of the seafront. High Streets are integral to how we feel about where we live. The sight of vacant shops and graffiti can quickly become a vicious circle, deterring shoppers, discouraging investment and leading to anti-social behaviour. Politicians of all stripes have been trying for years to breathe new life into town centres - and Andy Burnham, who has made a focus on "place" part of his political identity, is the latest. He argues they should become "symbols of Britain's renaissance". But can it be achieved? And if they're to survive, do town centres need a fundamental rethink? One in eight properties on British High Streets are currently vacant, according to Green Street, the property and retail analytics company, a number that's stayed stubbornly high for years. "If there was a silver bullet, it would have been fired years ago," says Jackie Sadek, a former government adviser on urban regeneration, who has spent nearly four decades working in town centre renewal.

My hometown shows that high streets have to change or die
Europe
BBC Business

Healey to promise 'new age of industrialisation' for UK in conference speech

Image source, PA MediaByBrian Wheeler, Political reporter and Iain Watson, Political correspondentPublished4 hours agoJohn Healey will promise "a new age of industrialisation" for the UK, when he delivers his first Labour conference speech as chancellor on Monday. Healey will tell delegates "our coal mines are not coming back", but that Labour will remake Britain's industrial past "for the modern age" by backing advanced manufacturing. He will also announce plans to boost Britain's shipbuilding industry, with new orders for Royal Navy floating docks and a maritime research vessel. With just a month to go until his first Budget, the chancellor is under pressure to cut spending or raise taxes to tackle the ballooning cost of government borrowing. But he is not expected to reveal any details about his Budget plans in his speech at Labour's annual conference in Liverpool. Instead, he will attempt to set out a positive vision for the future of British industry, based around what he will call a "new confidence in Britain". The former defence secretary will announce that three new floating docks at HM Royal Naval Base Clyde, at Faslane, will be built in the UK, rather than put out to international tender. Plans for the new docks were first set out in 2023 and are expected to upgrade Faslane's facilities for the next generation of British submarines. The docks form part of a wider £15bn upgrade programme for the Royal Navy's shipyards and are expected to come into service in the early 2030s. First Secretary of State Louise Haigh said in a speech on Sunday that the government would also commission a new marine research vessel as part of plans for a "new era of reindustrialisation". The chancellor is expected to announce £115m in funding for the ship, which is also set to come into service in the early 2030s. Ahead of his speech, Healey said: "By backing British shipyards, we are not only boosting national security but also securing resilience in the industries that will drive growth today while building the capabilities the country needs for the future."

Healey to promise 'new age of industrialisation' for UK in conference speech
Asia
The Economic Times

Axis Direct picks 5 smallcap stocks with up to 40% upside

The Indian stock market has just set a record, but not one investors hoped for. Dalal Street has logged losses for eight consecutive weeks, surpassing the streaks seen during the 2020 Covid-19 crash and the 2008 global financial crisis. Axis has picked 5 smallcap stocks with strong value after the sharp correction. Axis has assigned a target price of Rs 1,000, implying an upside of 19% from current market levels. It is a leading owner, developer, and asset manager of high-end hotels in India, primarily operating in key metro cities such as Mumbai, Hyderabad, Bengaluru, and Pune. The company’s portfolio includes luxury and upper-upscale hotels managed by renowned global brands like Marriott, Westin, and Four Points. With a target price of Rs 820, the brokerage forecasts upside potential of 23% from current levels. The company has strategically positioned itself as India’s foremost pure-play oncology powerhouse, commanding a network of nearly 22 Comprehensive Cancer Centers (CCCs) and dedicated infusion facilities across the nation. The company has a target price of Rs 815, an upside of 18% from the previous close. It is a major technology-driven manufacturer of automotive components and systems for both domestic and global original equipment manufacturers (OEMs). It is the flagship company of the Spark Minda Group and a leading supplier of mechatronic products, wiring harnesses, and vehicle access systems. The brokerage has assigned a target price of Rs 280, an upside of about 24% from current levels. The bank has evolved from its regional roots into a pan-India franchise with 1,000+ branches, while retaining a strong presence in Tamil Nadu. CUB follows a granular, collateral-backed lending model, with MSMEs as its core focus, complemented by gold, agriculture, retail and other business loans. With a target price of Rs 1,425, the brokerage forecasts 40% upside from current levels. It remains constructive on CCL Products' long-term growth prospects, supported by strong customer demand, a healthy order pipeline, new client additions, expanding branded sales and ongoing capacity expansion. Disclaimer: This article has been written by Veer Sharma, who is not a SEBI-registered Research Analyst or an Investment Adviser. Veer Sharma and his ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.​

Axis Direct picks 5 smallcap stocks with up to 40% upside
North America
CNBC Finance

Why McDonald's is following Walmart and Amazon into the advertising business

McDonald's on Wednesday announced plans to create its own media network, following in the footsteps of retail giants like Amazon and Walmart. In August, 450 of its company-owned U.S. restaurants began displaying advertising for other companies on its digital drive-thru order boards as part of a pilot. It is early days for the program, which has not yet rolled out to the franchisees who operate the rest of its roughly 14,000 U.S. locations. Still, McDonald's hopes that it could eventually grow to be a $1 billion business for the company. "Commerce media is one of the fastest-growing areas in advertising, and it's expected to reach more than $100 billion in the U.S. alone by 2028," Morgan Flatley, McDonald's global chief marketing officer and executive vice president of new business ventures, said during an investor presentation. "It's an opportunity to generate revenue for the system with little in the way of additional cost, no operational complexity and no disruption to our customer experience," Flatley added. The move could eventually bring McDonald's a steady stream of high-margin revenue as costs for key inputs like beef climb and as the chain plans to invest billions of dollars in restaurant upgrades over the next decade. In the restaurant industry, McDonald's would be a pioneer for creating its own media network. CFO Ian Borden said that the company is uniquely positioned to make it a success. "We have one of the most valuable brands of any company of our size and scale in any industry," Borden told CNBC. "We serve about 85% of the U.S. population at least once a year, so we have reach that's quite unique, and we have 14,000 locations across the U.S., which means we're in every community, and we're connecting with every consumer." Retailers like Amazon and Walmart have found success running their own media networks, which tend to be high-margin businesses. Amazon reported $68.6 billion in advertising service sales in 2025, accounting for just under 10% of the company's overall revenue. Amazon's ads appear across its portfolio, from its shopping pages to Prime Video to lockers and live streaming platform Twitch, as well as third-party apps and websites. Walmart does not share specific sales results for its advertising unit, but the company said that Connect, its U.S. ad business, grew sales 43% in its fiscal second quarter. The retailer's media network shows ads on its app, website and inside its more than 4,600 U.S. stores, plus outside apps like Instagram. It also bought TV maker Vizio in late 2024 with an eye toward its ad business. McDonald's newest venture was announced as part of the company's investor day, which was hosted at its Chicago headquarters. In addition to the media network, executives shared more details about plans to grow sales through pricey restaurant upgrades and better food quality. Get this delivered to your inbox, and more info about our products and services.

Why McDonald's is following Walmart and Amazon into the advertising business
Asia
The Economic Times

7 midcap stocks with rising EPS for four straight quarters. Are they in your portfolio?

Consistently increasing quarterly earnings per share (EPS) indicates an improvement in a company’s earnings on a per-share basis over time. In the NSE midcap segment, seven companies have recorded an increase in EPS for four consecutive quarters, with each quarter’s EPS higher than the previous quarter, through the June 2026 quarter, according to profitability scan data from StockEdge.com. The company reported an EPS of Rs 3.51 in June 2026, up from Rs 0.81 in the year-ago quarter. The company reported an EPS of Rs 0.28 in June 2026, up from Rs 0.08 in the year-ago quarter. The company reported an EPS of Rs 6.80 in June 2026, up from Rs 3.02 in the year-ago quarter. The company reported an EPS of Rs 13.73 in June 2026, up from Rs 6.76 in the year-ago quarter. The company reported an EPS of Rs 10.91 in June 2026, up from Rs 5.71 in the year-ago quarter. The company reported an EPS of Rs 7.25 in June 2026, up from Rs 4.02 in the year-ago quarter. The company reported an EPS of Rs 17.14 in June 2026, up from Rs 9.75 in the year-ago quarter.

7 midcap stocks with rising EPS for four straight quarters. Are they in your portfolio?
Asia
The Hindu BusinessLine

RBI repo rate likely to climb to 6% in FY27; G-Sec yields face upward pressure

New Delhi The Reserve Bank of India (RBI) is expected to raise the repo rate by 25 basis points in October, with further hikes likely in FY27 as inflation risks persist, potentially pushing the benchmark rate to 5.75–6 per cent, pressuring G-sec yields, as per a report by Union Bank of India. The lender noted in its report that Indian government bonds remained under pressure in September as high crude oil prices and rising global yields strengthened expectations of RBI rate hikes. At the same time, higher domestic bond supply, including RBI open market operation (OMO) sales and increased long-tenor issuance in the second-half borrowing calendar, added to the pressure and kept yields elevated despite lower overall government borrowing. “The pressure was particularly visible in the 5-year segment. Over September, the 5-year G-Sec yield rose 45bps, compared with 24bps for the 10-year, narrowing the 10-year minus 5-year spread from 36 to 16 bps,” it noted. It further noted that the government plans gross dated G-Sec borrowing of ₹7.86 lakh crore in H2FY27, with the gap between budgeted and projected gross borrowing at around Rs 1.1 lakh crore. However, net borrowing remains broadly unchanged “as redemptions have been reduced by aggressive switch auctions, as bond switches have deferred repayments, reducing redemption requirements and refinancing needs in FY27.” Higher T-bill issuance and moderately higher state borrowing are also expected to add to market supply. The report further highlighted that the central bank continues to absorb the FCNR(B)-led surplus through variable rate reverse repo (VRRR) auctions, open market operation (OMO) sales and foreign exchange swaps. OMO sales totalled Rs 1 lakh crore across three September auctions, helping reduce the banking system liquidity surplus to ₹4.85 lakh crore as of September 30 from ₹11.16 lakh crore on September 6. As per the lender, “A broad CRR hike appears less preferred, given RBI’s earlier exemption of eligible FCNR(B) deposits from reserve requirements.” According to the report, a broad-based cash reserve ratio (CRR) hike appears unlikely, given the RBI’s earlier decision to exempt eligible FCNR(B) deposits from reserve requirements. “We expect a 25bps rate hike, followed by one or two additional hikes during the remainder of FY27, taking the repo rate to 5.75–6.00 per cent, accompanied by hawkish guidance signalling continued vigilance on inflation,” it said, stressing “10-year G-Sec yield could face further upward pressure if policy tightening coincides with persistently elevated crude prices, rising global yields and subdued auction demand.” Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

RBI repo rate likely to climb to 6% in FY27; G-Sec yields face upward pressure
Asia
The Hindu BusinessLine

Adani Airports set to begin Mumbai Terminal 1B redevelopment in January 2027

Adani Airports-operated Mumbai International Airport Limited (MIAL) will begin phased redevelopment of the North Section of Terminal 1B at Mumbai Airport from January 2027, citing safety concerns linked to the ageing infrastructure, while maintaining that around 91 per cent of the airport's passenger traffic will remain unaffected. Mumbai Airport handles approximately 55 million passengers annually, of which around five million passengers, or about 9 per cent, are expected to be temporarily impacted by the redevelopment. Adani Airport Holdings Limited (AAHL) said only the North Section of Terminal 1B, which accounts for around one-third of Terminal 1's capacity, will be demolished in the first phase to minimise disruption to passengers and airline operations. “91% of Mumbai Airport’s passenger traffic will remain unaffected even as we undertake redevelopment of the age-old infrastructure that was in urgent need of repairs,” AAHL CEO Arun Bansal said. He said the temporary transition of some airline operations to Navi Mumbai International Airport would not represent a permanent shift of Mumbai Airport traffic. Terminal 1 has been identified as a safety-related concern, with temporary mitigation measures being implemented over the years. The company said the fire incident at Terminal 1 in April this year further highlighted the risks associated with continued operations. The redevelopment is expected to increase Terminal 1's capacity by 33 per cent, from the current 15 million passengers per annum (mppa) to 20 mppa. “Extensive consultations with airlines on the future of Terminal 1 have been ongoing since 2020,” Bansal said, adding that the redevelopment proposal had also been presented before AERA and incorporated into the approved tariff framework. AAHL said airlines have been given the option to temporarily relocate operations to Navi Mumbai International Airport, with support for a smooth transition. Navi Mumbai Airport is also offering a 100 per cent discount on landing fees for new international flights. It plans to provide cash vouchers to international passengers to offset the difference in User Development Fee between Navi Mumbai and Mumbai airports. Bansal said the availability of Navi Mumbai Airport makes it possible to redevelop Mumbai Airport's Terminal 1 in phases rather than shutting the entire terminal, reducing disruption for passengers and airlines.

Adani Airports set to begin Mumbai Terminal 1B redevelopment in January 2027
North America
CNBC Finance

McDonald's stock falls as it unveils plan to spend big on restaurant upgrades

McDonald's on Wednesday announced plans for its own media network, pricey restaurant upgrades and ways to win over GLP-1 users during an investor presentation at its Chicago headquarters. In June, the company unveiled its newest growth strategy, McDonald's > NEXT. The pillars of the plan include a new restaurant design, better-tasting food and drinks, consumer-led innovation, and improved hospitality from employees. But until Wednesday, executives had offered few details about how they would implement the plan and how it may affect its financial results over the coming years. The shifts come as McDonald's U.S. business tries to rebound from sluggish sales and as consumers hit by years of elevated inflation visit restaurants less often. The chain aims to win over more diners at a time the company expects inflation and flat traffic to restaurants overall will persist, CEO Chris Kempczinski told CNBC. The plan and Kempczinski's comments did not impress Wall Street, as McDonald's shares fell 6% in afternoon trading. A key part of the strategy is restaurant remodels, which McDonald's mandates roughly every decade for franchisees. The new design features updated PlayPlaces, which were previously being phased out, and more open kitchen layouts. Customers will be able to see their McCafe drinks being prepared. But the chain will also unveil what it calls Restaurant > NEXT, which includes improvements to equipment, technology and operations. It also will feature "ArchIQ," an artificial intelligence-powered operating system for restaurants. The company said "Archy" can take orders in English and Spanish from customers, saving about 50 labor hours per week, while other elements of ArchIQ can manage inventory and schedule shifts, as well as use scales to assess order accuracy. "Capabilities such as AI-enabled revenue management and Archy's suggestive sell will help increased average check over time," CFO Ian Borden said. All of those upgrades will require steep investment from franchisees. But McDonald's is also planning to provide financial support, through rent relief and actual capital. Through 2036, McDonald's plans to spend as much as $8.5 billion to accelerate franchisees' investment in the restaurant improvement plan. About $5 billion of that support will happen through 2030. McDonald's is projecting about $1.5 billion to $2 billion in capital spending from 2027 through 2030 to accelerate NEXT, in addition to about $3 billion every year on typical capital expenditures. (In 2025, McDonald's reported $3.4 billion in capital expenditures.) A standard lobby remodel of a drive-thru restaurant in the U.S. typically costs about $400,000 to $450,000, paid for by the franchisee. The additional investments tied to the plan will be "incremental" to the remodel expenses and cost roughly $800,000 per restaurant, although McDonald's will be providing financial support for some of that, according to Borden. Those investments will be phased, with tech, kitchen and operational upgrades adopted over time as they become available. Franchisees may protest the franchisor's expectations for their own investment in the restaurants, on top of standard cosmetic remodels. Beef and labor costs are already weighing on their profits. "We'll get good returns," Kempczinski told CNBC. "Now that doesn't mean to say that there aren't going to be a lot of anxieties, a lot of questions, as there always is around investment. It happens every time we go into one of these cycles, and we'll work with our franchisees collaboratively on that to address their questions."

McDonald's stock falls as it unveils plan to spend big on restaurant upgrades