Shake Shack keeps full-year revenue forecast unchanged, shares fall

(Reuters) – Shake Shack Inc (SHAK.N) on Thursday reaffirmed its full-year revenue forecast, disappointing Wall Street which was expecting the company to raise its guidance on the back of rising popularity of its pricey burgers and milkshakes. FILE PHOTO: Passersby walk in front of the Shake Shack restaurant in the Manhattan borough of New York, December 29, 2014. REUTERS/Keith Bedford/File Photo Shares of the company, which have risen 31 percent in the last three months, fell 7 percent to $59.60

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The Industrial Revolution could shed light on modern productivity

HOW much yarn per day could an 18th-century British woman spin? Such questions are catnip for economic historians, whose debates typically unfold unnoticed by anyone outside their field. But a running debate concerning the productivity of pre-industrial spinners, and related questions, is spilling beyond academia. Each probably produced between a quarter of a pound and a pound of yarn a day, the historians have concluded. But at issue is something much more profound: a disagreement regarding the nature of technological

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Possible new U.S. tariffs on Chinese goods not ‘cataclysmic’: Commerce Secretary

WASHINGTON (Reuters) – New tariffs that the United States is threatening to impose on nearly half the goods imported from China would have a small impact on the Asian nation’s economy and not lead to disaster, Commerce Secretary Wilbur Ross said on Thursday, as U.S. financial markets were set to open lower on the trade standoff. U.S. Commerce Secretary Wilbur Ross attends a cabinet meeting at the White House in Washington, U.S., July 18, 2018. REUTERS/Leah Millis “It’s not something

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Japan still has great influence on global financial markets

IT IS the summer of 1979 and Harry “Rabbit” Angstrom, the everyman-hero of John Updike’s series of novels, is running a car showroom in Brewer, Pennsylvania. There is a pervasive mood of decline. Local textile mills have closed. Gas prices are soaring. No one wants the traded-in, Detroit-made cars clogging the lot. Yet Rabbit is serene. His is a Toyota franchise. So his cars have the best mileage and lowest servicing costs. When you buy one, he tells his customers,

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Bank of England hikes interest rates for first time since 2009

Officials pointed to falling joblessness, gradually improving rates of pay growth and businesses’ complaints of a skills shortage as evidence the economy is operating at close to its full capacity – a sign interest rates need to edge up to rein in price rises. The Monetary Policy Committee (MPC) believes the rate rise will help bring inflation back to its 2pc target, from 2.4pc currently. Rising pay pressures combined with poor productivity growth indicate inflation could stay above target if

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Run your dishwasher when the sun shines: dynamic power pricing grows

PARIS (Reuters) – One day, the weather could drive your domestic schedule. Your dishwasher springs to life at the windiest time of day. The washing machine starts spinning when the sun beats down. High-tension electrical power lines are seen near the Golfech nuclear plant on the border of the Garonne River between Agen and Toulouse, France, July 18, 2018. Picture taken July 18, 2018. REUTERS/Regis Duvignau In such scenarios, algorithms in smart appliances automatically respond to price drops on wholesale

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Delivered hot: Starbucks bets on Alibaba tie-up to revive China sales

SHANGHAI (Reuters) – Starbucks Corp (SBUX.O) is partnering with Alibaba (BABA.N) to deliver its coffee in Chinese cities starting this fall, betting the move will revive sales growth in its second-largest market that is witnessing aggressive local competition. Starbucks flagged in June that it was pursuing such a tie-up after reporting a sudden slowdown in China sales growth, which it blamed partly on a crackdown on third-party delivery firms that had previously helped drive orders at its cafes. “I consider

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Trump administration adds to China trade pressure with higher tariff plan

WASHINGTON/BEIJING (Reuters) – U.S. President Donald Trump sought to ratchet up pressure on China for trade concessions by proposing a higher 25 percent tariff on $200 billion worth of Chinese imports, his administration said on Wednesday. Aerial view of containers at a loading terminal in the port of Hamburg, Germany August 1, 2018. REUTERS/Fabian Bimmer U.S. Trade Representative Robert Lighthizer said Trump directed the increase from a previously proposed 10 percent duty because China has refused to meet U.S. demands

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Starbucks ties up with Alibaba for China coffee delivery to revive sales

SHANGHAI (Reuters) – Starbucks Corp (SBUX.O) is partnering with Alibaba (BABA.N) to deliver its coffee in Chinese cities, betting the move will revive sales growth in its second-largest market that is witnessing aggressive competition from local coffee start-ups. Starbucks CEO Kevin Johnson (R) and Chief Executive Officer of Alibaba Group Holding Ltd. Daniel Zhang hold cups of Starbucks for a picture at a strategic partnership press conference in Shanghai, China August 2, 2018. REUTERS/Aly Song Starbucks flagged in June that

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Asian shares slide on fresh trade worries, bonds fragile

TOKYO (Reuters) – Asian stocks dropped on Thursday as the latest escalation in the Sino-U.S. trade war hit Chinese shares, while global bond markets were rattled by increased borrowing by Washington and Japan’s new tolerance for higher yields. FILE PHOTO: An employee of the Tokyo Stock Exchange (TSE) works at the bourse in Tokyo, Japan, February 6, 2018. REUTERS/Toru Hanai/File Photo MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.8 percent, dragged down by a 1.2 percent fall in

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