Subway to close about 500 more stores - The Boston Globe

Subway to close about 500 more stores – The Boston Globe





FAST FOOD

Subway to close about 500 more stores

Subway Restaurants, the world’s most ubiquitous eating chain, will shut about 500 more US stores because it expands internationally. After peppering the nation with 1000’s of areas, carefully held Subway is retrenching. Last yr, more than 800 stores went darkish, with the full US rely dropping to 25,908. It additionally closed eating places in 2016. The sandwich store, based more than 50 years in the past, is struggling to enhance gross sales within the United States as newer, more fashionable chains emerge. — BLOOMBERG NEWS

ONLINE PAYMENTS

PayPal earnings beat estimates regardless of lack of eBay

PayPal Holdings Inc. reported earnings that beat analysts’ estimates within the first quarter and gave an optimistic forecast for the second, signaling that it’s weathering the lack of EBay Inc. because it continues to join new accounts. For the present quarter, the San Jose, Calif.-based firm projected internet income of $three.78 billion to $three.83 billion, in contrast with the typical analyst estimate of $three.75 billion. In first three months of the yr, PayPal had income of $three.69 billion, larger than analysts’ projections for $three.59 billion. EBay, PayPayl’s former dad or mum firm and longtime funds processor, mentioned in January that it could step by step shift its enterprise to Adyen BV, a startup based mostly within the Netherlands.
— BLOOMBERG NEWS

FINANCE

Growth of
Visa debit playing cards tops bank cards

Spending on Visa Inc. debit playing cards — the favored plastic of the youthful set — continues to develop at a quicker clip than on credit score. Spending on the agency’s debit playing cards jumped 16.three % on this yr’s first three months, serving to the agency elevate its monetary outlook for 2018. Credit card spending rose 13.7 %. Younger shoppers favor to pay with debit playing cards and even money after cultivating an aversion to credit score whereas coming of age in the course of the monetary disaster. They additionally don’t usually qualify for high bank cards till changing into older.
— BLOOMBERG NEWS

PAY EQUITY

UK to examine corporations that didn’t report their gender pay hole

As early as June, the United Kingdom will begin investigating corporations that failed to report their gender pay hole, the federal government’s Equality and Human Rights Commission wrote in a letter to Parliament. About 1,500 corporations failed to adjust to the brand new legislation, which requires employers with 250 or more employees to publicly report the distinction between what they pay their female and male workers on common. — BLOOMBERG NEWS

MEDIA

Viacom posts higher-than-anticipated outcomes, boosted by Paramount

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Viacom Inc. posted higher-than-anticipated outcomes and mentioned that its Paramount Pictures studio has returned to profitability, buoying the leisure big because it negotiates a merger with CBS Corp. Second-quarter earnings amounted to 92 cents a share on the proprietor of MTV and Nickelodeon, excluding some gadgets. That was properly forward of the 79 cents predicted by analysts. Sales at Viacom’s worldwide TV networks additionally grew 18 % from a yr in the past, lifting gross sales throughout Viacom’s media networks group. Viacom reported general gross sales of $three.15 billion, beating the typical Wall Street estimate of $three.04 billion. The firm additionally pointed to the discharge of Paramount’s “A Quiet Place” as an indication of the studio’s comeback. The movie, the primary produced by the division’s new administration group, was a field-workplace hit. The shares climbed as a lot as 1.three % to $31.33 within the wake of the outcomes. — BLOOMBERG NEWS

ANIMAL CARE

Eli Lilly’s
pet well being enterprise attracts curiosity

Eli Lilly & Co. has attracted curiosity from non-public fairness corporations together with Bain Capital and Advent International Corp. for its animal-well being enterprise, because the pharmaceutical big considers choices for the ailing unit, individuals with information of the matter mentioned. Carlyle Group may take into account bidding for Elanco, because the unit is thought, mentioned the individuals, who requested not to be recognized because the matter isn’t public. Considerations are at an early stage and Lilly might select to hold the enterprise or pursue a by-product, they mentioned. Elanco might be valued at $14 billion to $16 billion, in accordance to JPMorgan Chase estimates from December, when Lilly mentioned it was weighing an preliminary public providing, sale, or merger of the unit. Several well being care corporations are analyzing choices for his or her animal-well being enterprise as they search to replicate the success of Zoetis Inc., whose shares have nearly tripled in worth because it separated from Pfizer in 2013. Henry Schein, a Melville, N.Y..-based medical provider for medical doctors and dentists, mentioned Monday that it’s going to spin off its animal unit after combining it with carefully held Vets First Choice. — BLOOMBERG NEWS

HEALTH CARE

Anthem earnings bounce 30 %

Anthem’s first-quarter earnings shot up 30 %, and the Blue Cross-Blue Shield insurer hiked its 2018 forecast, as a drop in medical bills bolstered its efficiency. The nation’s second-largest well being insurer joined rival UnitedWell being Group Inc. in topping analyst expectations for the quarter and climbing its 2018 forecast. Anthem mentioned Wednesday that it now expects 2018 adjusted earnings to be higher than $15.30 per share after saying in January that they’d exceed $15 per share. — ASSOCIATED PRESS

BROADCAST

Sinclair to promote 9 TV stations
because it seeks approval for acquisition of Tribune Media

Sinclair Broadcast Group will promote 9 TV stations to Standard Media Group for $441.7 million as a part of its plan to meet regulatory approval for its pending $three.9 billion acquisition of Tribune Media. The sale of the stations is contingent on the Tribune deal closing. Sinclair mentioned it expects that deal to close by the tip of the second quarter. The strikes come after Sinclair obtained widespread consideration after information studies earlier in April confirmed dozens of Sinclair information anchors studying an equivalent script expressing concern about ‘‘one-sided news stories plaguing the country.’’ At the time, President Trump tweeted his help of the community. The stations embody one every in Oklahoma, Michigan, North Carolina, Virginia, and Iowa and 4 in Pennsylvania. Sinclair owns 193 stations throughout the nation. — ASSOCIATED PRESS

SOCIAL MEDIA

Facebook to launch program in Ireland forward of referendum on abortion

Facebook is launching a pilot program in Ireland forward of a referendum on abortion that it hopes will guarantee higher transparency in political promoting. The instrument, which can be being examined in Canada, follows a scandal involving the political advisor Cambridge Analytica that has stoked issues about privateness on the social community. One of the allegations within the Cambridge Analytica scandal was that knowledge from tens of millions of Facebook customers was used to assist micro-goal political adverts to choose teams — which means that solely these most prone to the message would see the commercials. The new instrument being launched Wednesday permits customers of the community to see all the commercials a web page is operating. Voters are to resolve in May whether or not they need to change Ireland’s strict abortion legal guidelines. — ASSOCIATED PRESS

INTERNATIONAL

EU govt department desires
the bloc
to make investments a minimum of $24 billion in AI

The European Union’s govt department desires the bloc’s private and non-private sectors to make investments a minimum of $24 billion in synthetic intelligence by means of 2020 in an try to stay globally aggressive. EU Digital Market Commissioner Andrus Ansip mentioned Wednesday the Commission itself will improve its funding in analysis and growth to $1.eight billion and hopes it would set off $three billion more in private and non-private funding. Ansip mentioned the EU wanted to catch up, citing a examine that mentioned company funding in AI stood at up to $four billion within the EU in 2016, in contrast to $12 billion in Asia and $23 billion within the United States. AI is already discovering its utility in robotics, well being care, and manufacturing.
— ASSOCIATED PRESS


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