BusinessThe Street•2 hours agoMcDonald's Joins 5 Other Mega Brands In Ditching the Olympics
McDonald's Corp. (MCD) ended its longtime partnership with the International Olympic Committee as the fast-food chain joins a growing list of U.S. companies pulling advertising from the games, AdAge reported. Anheuser-Busch InBev (ABV) , Citigroup (C) , Hilton (HLT) , TD Ameritrade (AMTD) and AT&T (T) have all pulled out of the Olympic games in the last year. Industry experts speculate that some U.S. advertisers have left because of the dramatic time change for the next few games - PyeongChang in 2018, Tokyo in 2020 and Beijing in 2022. McDonald's said the decision is part of a global growth plan that has the company reconsidering all parts of the business. McDonald's, which has advertised at
- BusinessThe Street•5 hours ago
The United States Postal Service Denies J.C. Penney CEO Remarks That It's Holding Back E-Commerce
The United States Postal Service denied J.C. Penney Co. Inc. (JCP) CEO Marvin Ellison's assertion made earlier this week, which was first reported by TheStreet, that it would be the one to hold back future e-commerce growth. A USPS spokesman said in an email to TheStreet that the agency's "unrivaled network and infrastructure" will "enable" and "facilitate" e-commerce's "future growth," pointing out that its workers delivered 154 billion pieces of mail to the U.S. in 2016. "The Postal Service continually adapts to a dynamic marketplace," the spokesman said on Friday. "We operate an extensive and integrated retail, transportation, processing and delivery network to serve residential and commercial
- FinanceBloomberg•22 hours ago
Amazon Said to Plan Cuts to Shed Whole Foods' Pricey Image
When Amazon.com Inc. completes its acquisition of Whole Foods Market Inc., Chief Executive Officer Jeff Bezos will try to keep the grocer’s reputation for premium fresh foods while cutting prices to shed its “Whole Paycheck” image. Amazon expects to reduce headcount and change inventory to lower prices and make Whole Foods competitive with Wal-Mart Stores Inc. and other big-box retailers, according to a person with knowledge of the company’s grocery plans. An Amazon spokesman denied any job cuts were planned.
