trending Market Intelligence /marketintelligence/en/news-insights/trending/txzg-rmeorn4_og7r2yhkq2 content esgSubNav
In This List

Starbucks names CFO; Trian Fund exploring takeover bid for Papa John's


Perspectivas América Latina 2023 Emerging Trends & Growth


Insight Weekly: SVB fallout limited; US rents up; renewable natural gas investments flow in


Bank failures: The importance of liquidity and funding data


A Cloud Migration Plan for Corporations featuring Snowflake®

Starbucks names CFO; Trian Fund exploring takeover bid for Papa John's


* Starbucks Corp. appointed Patrick Grismer as its new executive vice president and CFO. Grismer will join Starbucks on Nov. 12 to replace retiring CFO Scott Maw, who announced his departure plans in June. Grismer will assume the CFO role Nov. 30, while Maw will remain a senior consultant through March 2019 to ensure a smooth transition, the coffee giant said in a news release. Grismer will resign as CFO of Hyatt Hotels Corp., a role he has held since March 2016.

* Trian Fund Management LP is considering a takeover bid for Papa John's International Inc., The Wall Street Journal reported, citing anonymous sources. The activist hedge fund recently reached out to the pizza company to collect information, according to the report. The Journal said Papa John's has been exploring a sale, and there is no guarantee that Trian will make an offer for the company. The pizza chain did not immediately respond to S&P Global Market Intelligence's request for comment.


* French retail giant Carrefour SA has adopted International Business Machines Corp.'s Food Trust blockchain to implement a global food traceability standard across all the links in the company's supply chain. Blockchain technology makes it easier to record events along the supply, processing, packaging and distribution chain. IBM's blockchain technology helps track the origin and quality of products and the potential presence of any allergens in them.

* German retailer Metro AG said its digital unit,, agreed to acquire Czech restaurant reservation service provider Restu. Financial terms of the deal were not disclosed, but Metro said closing of the transaction "is expected to take place shortly," subject to certain conditions. Restu, which was founded by venture capital company Miton CZ sro, provides reservation services for restaurants in the Czech Republic.


* Poultry producer Tegel Group Holdings Ltd. said it plans to delist from the NZX Main Board and ASX, following the acquisition by Philippine-based poultry company Bounty Fresh Food Inc., through its Bounty Holdings New Zealand Ltd. unit. According to the company release, trading in Tegel will be suspended after Oct. 8, and the New Zealand-based poultry firm will be delisted from the NZX Main Board and ASX on Oct. 23.

* Brazilian meat producer JBS SA invested 45 million reais to expand two of its facilities in the state of Minas Gerais, Reuters reported, citing a company statement. The expansion, which will double the facilities' production capacity, was reportedly driven by a burgeoning demand in the Chinese market for the company's beef exports.

* Brazilian food manufacturer BRF SA said its recently appointed CEO, Pedro Parente, will step down from his position by mid-2019, Reuters reported. The company also plans to conclude by year-end its asset sales, which came as part of a sweeping overhaul by Parente, in Argentina, Europe and Thailand. Parente will remain as chairman, while COO Lorival Luz will become CEO.

* Nestlé (Malaysia) Bhd., a unit of Nestlé SA, said dairy giant Groupe Lactalis SA has agreed to buy its chilled dairy business and take over operations of its factory in the city of Petaling Jaya. The unit of the Swiss giant also is investing over 100 million Malaysian ringgit to expand its Milo factory in the village of Chembong as part of its strategy to improve efficiency and enhance competitiveness. Nestlé Malaysia added that it will move all existing Milo manufacturing operations to its Chembong factory from its Petaling Jaya plant.


* Pernod Ricard USA LLC, a unit of French spirits maker Pernod Ricard SA, said it renewed its distribution agreement with Republic National Distributing Co. LLC. The agreement came into effect July 1, 2018, and will extend through June 2024. RNDC will distribute Pernod Ricard's products across Louisiana, Maryland, Nebraska, North Dakota, Oklahoma, South Dakota, Texas and Washington. It will also distribute the French company's wine and champagne portfolio in Georgia, Michigan and Virginia.


* Bunge Ltd. is facing pressure to adjust its operations as D.E. Shaw & Co. LP and grain processor Continental Grain Company Corp. have approached the agribusiness and food company about either adding more directors to its board, improving profit margins or focusing its business, The Wall Street Journal reported, citing unnamed sources. In total, D.E. Shaw and Continental control less than 5% of Bunge's outstanding shares, according to the report. While both entities reportedly are advocating for changes, neither are urging Bunge to seek a buyer.


* McDonald's Corp. on Oct. 8 launched a delivery service for its coffee chain McCafé in China, according to TechNode, citing a report from local media. The report added that the delivery is available only in Shanghai and that McDonald's will roll out the service to more cities in China in the future. Consumers can order from the company's mini program on Tencent Holdings Ltd.-owned WeChat, as well as on Meituan and Alibaba Group Holding Ltd.'s platforms, the report added.

The day ahead

Early morning futures indicators pointed to a lower opening for the U.S. market.

In Asia, the Hang Seng slipped 0.11% to 26,172.91, and the Nikkei 225 declined 1.32% to 23,469.39.

In Europe, around midday, the FTSE 100 was down 0.32% to 7,209.38, and the Euronext 100 was down 0.39% to 1,024.09.

On the macro front

The Redbook report is due out today.

Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

The Daily Dose is updated as of 8 a.m. ET. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.