Torsten Muller-Otvos, the Rolls-Royce CEO who turned an aging brand into a coveted badge of success for pop stars, athletes and young entrepreneurs, is retiring after 14 years.Rolls-Royce announced Thursday that Muller-Otvos, 63, the longest serving CEO of Rolls-Royce in nearly a century, will retire on December 1. He...
In this photo illustration, bottles of Modelo Especial beer sit on a table on June 14, 2023 in Los Angeles, California.Mario Tama | Getty ImagesConstellation Brands on Thursday reported earnings and revenue that topped analysts' expectations for its fiscal second quarter of 2024.The Mexican beer powerhouse, owner of the Modelo Especial...
Inside the storefront of Cantrip Candles in Hollywood, CA.Sarah Whitten | CNBCIt's not every day that a spilled beer can start a company. But that's exactly how Christoff Visscher got the idea for Cantrip Candles.An avid Dungeons & Dragons fan, Visscher was hosting a game when a beer got...
People walk by electric truck maker Rivian's newly opened storefront in the Meatpacking District of Manhattan on June 23, 2023 in New York City.Spencer Platt | Getty ImagesCheck out the companies making headlines in premarket trading.Rivian — Shares of the electric vehicle maker plunged 8.7% after Rivian announced a $1.5 billion...
Still from the set of "The Exorcist: Believer."Courtesy: Universal StudiosTake it on faith. The new "Exorcist" movie will draw big Hispanic audiences.Universal is seeing stronger-than-average Hispanic interest for "The Exorcist: Believer" as the movie heads into its opening weekend, according to people familiar with the matter. This fits a...
Clorox on Wednesday warned that its sales and profit took big hit during the quarter ended Sept. 30, largely due to the after affects of a cyberattack that significantly affected operations.The bleach and cleaning products maker said it expects net sales to decrease 23% to 28%. Clorox also estimates...
A Popeyes restaurant is seen in Washington, D.C.Eric Baradat | AFP | Getty ImagesPopeyes has overtaken KFC as the No. 2 chicken chain in the U.S., a decade after Chick-fil-A first unseated KFC from the top spot.Chicken chains' battle for stomachs — and dollars — has become more aggressive...
Cannabis producer Tilray Brands on Wednesday reported a jump in revenue as it diversifies its portfolio and moves deeper into the beer industry.The company reported $177 million in net revenue, up 15% year-over-year, for its fiscal first-quarter. Its cannabis division brought in $70 million in net revenue, reflecting a 20%...
DETROIT – General Motors secured a new $6 billion line of credit as the automaker braces for additional strikes by the United Auto Workers union."The facility that we announced today is a $6 billion line of credit that I think is prudent in light of some of the messages...
Visitors can avoid lines at Disney World if they buy into the system.Joseph Prezioso | Anadolu Agency | Getty ImagesIt's about to be cheaper for families to visit Disney's domestic theme parks.The Walt Disney Company on Wednesday announced new, limited time discounts on children's tickets at Disneyland and Disney...