BusinessThe Street•1 hour 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•26 minutes 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
- BusinessThe Street•3 days ago
Rite Aid Countdown Begins
Facing a July 7 deadline from Walgreens Boots Alliance Inc. (WBA) over the company's deal to buy Rite Aid Corp. (RAD) , there is increasing expectation the Federal Trade Commission aims to resolve its antitrust review of the drugstore chain merger before the July 4 holiday. With only two sitting members, both Chairman Maureen Ohlhausen and Democrat Terrell McSweeny must vote to challenge the deal before July 7 or Walgreens is free to consummate the deal, according to an agreement the companies have with the commission. An FTC decision could come the week of June 19 or June 26. If the FTC sues to block the deal, Walgreens has promised fight the agency in court. Rite Aid shares closed around
