https://www.cnn.com/2019/08/01/business/impossible-whopper-national/index.html
2019-08-01 10:34:00Z
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Impossible Foods’ plant-based burgers will soon no longer be so impossible to get your hands on.
Starting Aug. 5, all 7,300 Burger King locations across the country will sell the meatless Whopper – but only while supplies last – for $5.59.
In April, Burger King became the first fast-food chain to sell the Impossible burger, but it was only available at select locations. Burger King is owned by Restaurant Brands International (QSR), which also owns Tim Horton’s.
Impossible Foods also plans to start selling its products in grocery stores beginning this fall, now that the Food and Drug Administration has approved its key color ingredient, soy leghemoglobin. The color additive is what makes the meatless patty “bleed” like a real meat burger, giving it the look and taste of real beef.
Impossible has been able to distribute its product only by selling it in restaurants including fast food chains White Castle and Qdoba.
The nationwide rollout at Burger King and its entry onto grocery shelves marks a huge growth spurt for the food startup that struggled with meeting demand just weeks ago.
Fast food chains including Red Robin complained that the company couldn’t supply them with enough product to keep up with soaring demand.
On Monday, the Redwood City, Calif.-based company announced to its distributors that a cap on ordering had been lifted and that the product was now “fully stocked.”
In order to ramp up supply, Impossible Foods has doubled the headcount in its plants in the last two months. It also entered into a manufacturing deal with the meat supplier OSI Group to expand its production capabilities.
Alexis Christoforous is co-anchor of Yahoo Finance’s “The First Trade.” Follow her on Twitter @AlexisTVNews.
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London Stock Exchange has agreed a $27 billion all-share takeover of the financial data provider Refinitiv to create a major global market data and infrastructure company that could rival Bloomberg.
The deal combines the world’s oldest bourse with the provider of Eikon terminals, which offer live data feeds and news to trading floors across the City.
Don Robert, the LSE chairman, said that the acquisition was a “defining moment” for the exchange in terms of its strategic importance. It is the biggest acquisition by a UK-listed company this year by far.
The exchange, which traces its roots to the 17th century, is behind the FTSE and the Borsa Italiana in Milan and also owns the clearing house LCH.
David Schwimmer, the former Goldman Sachs banker…
Drew Angerer/Getty Images
A 33-year-old woman named Paige Thompson was arrested on Monday in an FBI raid on her Seattle home.
Thompson is accused of hacking into Capital One's servers and exposing data of over 100 million customers in the United States and Canada.
The breach exposed Social Security numbers, bank account numbers, and personal information. There is currently no way to find out if your information was impacted in the breach, but Capital One says it will let customers know through various channels in the future.
On Monday, the FBI executed a raid on Thompson's home which was captured on home surveillance cameras by Thompson's roommates and shared with Seattle NBC affiliate King 5.
Thompson's roommates Ashley and Alexis described the experience to King 5.
"We heard the 'FBI open up," said one of Thompson's roommates. "Green camo, military-like tactical gear."
Thompson is facing one federal charge of computer fraud and abuse; if convicted, she could face a sentence of up to five years in prison and a $250,000 fine.
During the FBI raid on Thompson's home on Monday, both Thompson and another suspect were taken into custody — 66-year-old Park Quan, who was arrested on charges of possessing illegal firearms and firearms augmentations including bump stocks, which are illegal in Washington state.
A video obtained by King 5 of the FBI raid was released on Tuesday night, which you can see right here:
A girl reacts as she tries an iPhone X at the Apple Omotesando store on November 3, 2017 in Tokyo, Japan.
Getty Images
If you had told any serious Apple observer two years ago that the company's stock would jump after reporting a sales decline for the iPhone, they would've called you nuts.
But that's where we were Wednesday morning after Apple reported in its fiscal third-quarter earnings that iPhone sales fell 12% versus the year-ago quarter. In fact, iPhone sales made up less than half of the company's revenue for the quarter for the first time since 2012. (In the past, iPhone revenue made up as much has two-thirds of Apple's sales.)
That shift proves Apple is kicking its addiction to the iPhone. It's no longer tying its destiny to just one device, but an expanding ecosystem of digital services and hardware accessories that can spur growth and deliver strong results as iPhone sales decline. And in the years to come, there are plenty of opportunities to continue the trend.
Let's take a look at the stats:
Apple booked $25.99 billion in iPhone revenue during its fiscal third quarter. That's down 12% from the year-ago quarter, and 48% of Apple's overall revenue of $53.8 billion. It's also the first time the iPhone made up less than 50% of quarterly sales since 2012.
The wearables business, which includes AirPods, Apple Watch and Beats headphones, brought in $5.53 billion. That's a whopping 48% higher from the year-ago quarter. And the category is now bringing in more revenue than the iPad or Mac businesses. Apple's CFO, Luca Maestri, also said Tuesday that the category's growth is accelerating over 50%.
Apple's new darling, the services business, also showed strong growth. It's up 13% versus the year-ago quarter with $11.46 billion in revenue. (Apple CEO Tim Cook said the growth was as high as 18% if you account for a one-time lawsuit settlement and foreign exchange rates.)
The iPad and Mac businesses are steady. Thanks to a slew of recent upgrades to Macs and iPads, these two businesses were slightly up versus the year-ago quarter. They may not look as exciting as the hyper growth in wearables and services, but they function as an engine of stability for Apple. Plus there are more upgrades expected for Macs and iPads this fall.
Add all of that together, and you have what looks like an increasingly diversified business with more promising growth on the immediate horizon.
That's especially true for the services segment, which is expected to ramp up even more in the second half of this year with the introduction of new products like the Apple Card, Apple Arcade gaming service and Apple TV+ video streaming service. Don't be surprised to see a slew of new services beyond that related to health care, transportation and more.
Still, there are also the obvious caveats. Apple's businesses outside the iPhone remain anchored to the device, which is why the company touts its active iPhone user base instead of the number of units it sells. Each one of those nearly 1 billion users is an opportunity for Apple to grab more sales from services and accessories.
But Apple has showed a willingness to tear down its so-called walled garden and put its digital services on third-party products like Samsung TVs and Amazon's Echo speakers. Cook hinted during Tuesday's earnings call that the trend will continue. And iPhone users remain extremely loyal, even if they're not upgrading as often as they used to. A robust services business only increases the stickiness of the iPhone.
As Tuesday's results showed, the iPhone may be Apple's most important and profitable product, but the company has found a way to diversify and grow without relying solely on it.
A girl reacts as she tries an iPhone X at the Apple Omotesando store on November 3, 2017 in Tokyo, Japan.
Getty Images
If you had told any serious Apple observer two years ago that the company's stock would jump after reporting a sales decline for the iPhone, they would've called you nuts.
But that's where we were Wednesday morning after Apple reported in its fiscal third-quarter earnings that iPhone sales fell 12% versus the year-ago quarter. In fact, iPhone sales made up less than half of Apple's revenue for the quarter for the first time since 2012. (In the past, iPhone revenue made up as much has two-thirds of Apple's sales.)
That shift proves Apple is kicking its addiction to the iPhone. It's no longer tying its destiny to just one device, but an expanding ecosystem of digital services and hardware accessories that can spur growth and deliver strong results as iPhone sales decline. And in the years to come, there are plenty of opportunities to continue the trend.
Let's take a look at the stats:
Apple booked $25.99 billion in iPhone revenue during its fiscal third quarter. That's down 12% from the year-ago quarter, and 48% of Apple's overall revenue of $53.8 billion. It's also the first time the iPhone made up less than 50% of quarterly sales since 2012.
The wearables business, which includes AirPods, Apple Watch and Beats headphones, brought in $5.53 billion. That's a whopping 48% higher from the year-ago quarter. And the category is now bringing in more revenue than the iPad or Mac businesses. Apple's CFO Luca Maestri also said Tuesday that the category's growth is accelerating over 50%.
Apple's new darling, the services business, also showed strong growth. It's up 13% versus the year-ago quarter with $11.46 billion in revenue. (Apple CEO Tim Cook said the growth was as high as 18% if you account for a one-time lawsuit settlement and foreign exchange rates.)
The iPad and Mac businesses are steady. Thanks to a slew of recent upgrades to Macs and iPads, these two businesses were slightly up versus the year-ago quarter. They may not look as exciting as the hyper growth in wearables and services, but they function as an engine of stability for Apple. Plus there are more upgrades expected for Macs and iPads this fall.
Add all of that together, and you have what looks like an increasingly diversified business with more promising growth on the immediate horizon.
That's especially true for the services segment, which is expected to ramp up even more in the second half of this year with the introduction of new products like the Apple Card, Apple Arcade gaming service and Apple TV+ video streaming service. Don't be surprised to see a slew of new services beyond that related to health care, transportation and more.
Still, there are also the obvious caveats. Apple's businesses outside the iPhone remain anchored to the device, which is why Apple touts its active iPhone user base instead of the number of units it sells. Each one of those nearly 1 billion users is an opportunity for Apple to grab more sales from services and accessories.
But Apple has showed a willingness to tear down its so-called walled garden and put its digital services on third-party products like Samsung TVs and Amazon's Echo speakers. Cook hinted during Tuesday's earnings call that the trend will continue. And iPhone users remain extremely loyal, even if they're not upgrading as often as they used to. A robust services business only increases the stickiness of the iPhone.
As Tuesday's results showed, the iPhone may be Apple's most important and profitable product, but the company has found a way to diversify and grow without relying solely on it.