it's very, very light volume bob pit san rest, thanks again now kate roger has a news update. >> russia's has halted all the gas flows to europe, being blamed on an oil leak at an engine and compressor station. no timeline is being given to restart the pipeline. >>> president biden is asking congress for a emergency spending package there's also money to pay for disaster relief in kentucky and other states >>> iran's navy briefly seized two american sea drones in the red sea. iranian sailors released the drone as the u.s. forces approached >>> on the new, the heat wave is expected to bring record temperatures over the holiday weekend. also heavy rains expected along the gulf cost. that's all tonight at 7:00 eastern. >>> i'll see you back on the west coast next week still ahead, you're looking at it, it's a tech heavyweight. the name and case for why you should bail on this stock. that's straight ahead. thinkorswim® by td ameritrade is more than a trading platform. it's an entire trading experience. with innovation that lets you customize interfaces, charts and orders to your style of trad

kate rogers has been following. kate?15-20% annually over the next three years for the coffee giant. that is up from the previous guidance given in 2020. poll of 10-12% growth. 7-9% fiscal year 2023 will be on the high end, depending on how china performs. she says by 2024 and 2025, that is also above the company's previous guidance of 4-5% growth. u.s. growth increase of 7-9% annually over the next three years. she also mentioned china will have a performance in 2023 and in parts of 2024. it will be laughing booth lockdowns in the market. expect in the range of -- in 25. so far, the day has been about the reinvention of starbucks for the future. he was laying out his big vision after admitting the company kind of lost its way. he said cold drinks are about 80% of the summer portfolio. now about two thirds are asked to be customized. the company are reinvesting. next year, to modernize them with new equipment, more efficient setups, and reduce complexity with automated ordering. we will also be reducing the portfolio with

back to you, kayla. >>> no to kate rogers on how the inflation reduction act has companies gearing up to go green. >> reporter: from manufacturing to tech startups, companies in the climate space and beyond are gearing up for jobs boom. the inflation reduction act hits for the creation of 9 million jobs in the next decade between public and private investment, according to a study from the university of massachusetts, amherst, commissioned by the green alliance. the alliance says jobs created will be better paid and longer term for workers. >> the inflation reduction act includes very intentionally designed policy measures that include labor standards in the manufacturing sector will make it more likely that american workers are making the materials, components and tech knowledge is that will go into all of the clean energy projects. >> young blue-collar trade jobs, startups are also hiring in this space. more ev's on the road means more business. this company has grown from six to 60 employees over the last two years and is looking for workers to fill roles from software engineers to

kate rogers. >>> i don't know how i feel about those comments it sounds depressing all around. are we excited he's saying he only expects a minor recession in the u.s.? >> well, i think one of the reasons you want to own the stock is in economic slowdowns it's a high-quality business, recession proof, strong cash flow, growing dividend all of those things are in mcdonald's favor in terms of owning the stock at this very minute, but i think investors are certainly paying a premium right now because of that macro backdrop if you look at the valuations, i don't know the long term potential is where you want it to be. from a tactical perspective, a buy and hold i think is probably challenging and you can do better elsewhere >> the stock is down 5% on the year and even with the comments, the stock still closed up on a day that was mixed in the action in general this was a 2023 call and things to play out. you think about the surging dollar, food inflation the list goes on and on. this is going to be a theme. if you are excited about over the course of the year, i don't think that co

trading at an all-time low, looks like not even a partnership with mcdonald's could help out sales kate rogerswith more on this story and some other stuff. kate >> brian, the stock is down over 70% year-to-date, trading below its ipo price of $25 a share the company has had a rough go this year, which was supposed to be a really big one for partnerships with qsrs, mcdonald's, and yum brands to be fair, it has had tests with kfc of it plant-basedcdonaf the plant burger, but those tests have ended the ceo seemed to imply that sales of the plant burger was soft he mentioned that items that don't sell as well don't stay on the menu broadly speaking and ended with this. take a listen. >> if you want mcplant, i would tell you, buy mcplant. >> now, last quarter, ceo ethan brown said progress for the company was taking longer than expected they'd cut workforce with layoffs and cut their guidance inflation has been weighing on it with customers going to private label plant-based meat or traditional meat due to prices, even though the company is continuing to work towards price parody, brian. >> all rig

diana olick on what it means for real estate, kate rogers on small businesses and inflation first, cnbc senior economics correspondent steve liesman. man, that was painful. break down the inflation data for us, steve. >> shep, overall inflation continues to be high in several key parts of the economy with declines in some sectors forecasters were expecting not adding up. some sectors just not showing up gasoline prices, they fell as expected it takes out food and energy it was up 0.6, double the expectation. this is what the fed or federal reserve follows most carefully, and it was driven by a hefty 0.7% in housing increase costs it may be several months before that cools off >> what does this mean for the fed? >> the fed would seem to have no choice here but to keep raising interest rates essentially slamming on the brakes to try to slow this economy down it's likely to continue to hit the brakes harder than it's done in a very long time. before this year, the fed most recently increased short-term funds rate by .75% of a percentage point it's now boosted i twice by that much and after

diana olick on what it means for real estate, kate rogers on inflation, first cnbc economic correspondent steve liesman. break down the inflation data, steve. >> overall inflation continues to be high in several key partsst economy. with the decline that's forecasters were expecting in some sectors just not showing up gasoline prices, they fell as expected down nearly 11%. and there was a related decline in nearly 5% in air fairs. but good prices, they surged 8%. 0.8% the core rate you talked about, it takes out food and energy it was up 0.6%, double the expectation. this is what the fed follows closely. it was driven by an increase in housing costs. it may be several months before that cools off. >> what does this mean for the fed? >> the fed would seem to have no choice here but to keep raising interest rates essentially slamming on the brakes to try to slow this economy down it's likely to continue to hit the brakes harder than it's done in a very long time. before this year, the fed most recent lyn creased short term funds rate by .75% n 1994, 28 years ago, its now boosted it twice by

saying its wants to create the virtual version of its famous third place using web three technology kate rogersore virtual coffee, kate >> not just yet, tyler tomorrow does mark starbuck's first in-person investor day in several years. the company kicking things off with a few announcements this all under the vision of howard schultz's reenvision of brand. it's building a place called starbucks odyssey. starting today, employees and starbucks reward members can sign up to be first in line for this launch later this year. it's going to allow them to earn and purchase nfts to unlook new benefits and immersive coffee experiences. last quarter, the company has more than 27 million rewards members in the u.s. which gives it a large pool to test this out. also incentivizes people to sign up and gain access other restaurant brands have also launched in the metaverse while some others are laying the groundwork to do the same in the future like mcdonald's and panera more to come tomorrow at the meeting on what this future looks like the new ceo was announced earlier this month who will be training under

our kate rogers hathe latest >> that's right, c.o.o.ed over the weekend for allegedly biting a man's nose after an altercation following a college football game in arkansas he was charged for terroristic threatening and third degree battery. now, beyond meat did not respond to requests for comment from cnbc nor has ramsey. he joined the company in december, coming from three decades at tyson foods over seeing poultry and its mcdonald's business. beyond touted his experience as they were about to lean into partnerships with yum brands and mcdonald's and pepsi while it's had several product announcements and tests including beyond fried chicken with kfc and the mcplant burger, it hasn't announced any permanent items so far, which is something analysts were really looking out. for company also lowered revenue guidance and announced layoffs of about 4% of its workforce the stock is down about 70% this year back over to you >> kate, certainly a story the company doesn't need right now kate rogers on beyond meat today. let's get over to dom c

first, cnbc's kate rogers, has all the efforts to get organized. >> what we are hoping to do with allpartners, backing the first unit up, is to become the company that starbucks claims that it is. >> reporter: from brisas to warehouse workers, cashiers, apple geniuses, and pilots, the labor movement across the united dates is having a moment. workers at companies that haven't seen much union activity like starbucks, rei, and trader joe's, have decided to petition and even strike in some cases over working conditions. young people leading the charge and getting involved for the first time. why now? union membership has declined in recent years. the pandemic shifted the power dynamic between workers and employers. many are asking for more in the form of better pay, benefits, and working conditions. >> has seen over the last several decades, that income has grown. we have a lot more wealthy people. we have a lot more poor people. we have a shrinking middle class. there's a breaking point. that's what we are seeing now. >> reporter: the pandemic altered the power landscape. the reception

restaurants feeling the pinch and leaving them no choice but the pass that cost on to the customer kate rogerscisco, perry russom checked to see how their local restaurants are holding up. >> reporter: here in washington d.c., a pillar of the community but now, the owner and her son say times are tough. >> inflation and the pandemic is literally devastating for us >> reporter: ben's raised the price of their half smoke by 70 cents a couple of months ago to help offset food costs she tells me it wasn't an easy decision. >> we can't make it if we don't make a little bit of money on it. >> reporter: the chilly cheese fries went up 80 cents and cream, milk, cockies, raised the price of the banana pudding. >> i've been here 64 years i'm going to be here to stay. >> in chicago, there's the weaner circle. margin are already thin running a restaurant how thin are they now? >> thinner. >> reporter: it's a hot dog stand serving street food, owned in part by tim wong. how do you see inflation affecting you here >> across the board. >> he says it affected the addition when construction prices went up. >>

it's been a landmark year for unions but will a potential recession slow down the movement kate rogersk at whether workers can hang on to their power or eke out a little more >> 2022 was a banner year for unions with data showing 900 more petitions this fiscal year over 2021. key industries including retail, food industry and warehousing have a collective 1 million more open jobs today than they did prepandemic. giving workers more fire to flex their power. but does a downturn change that dynamic? workers at the unionized rei store in berkeley, california, say a recession makes better benefits and job stability even more important so now is the time to push >> i had coworkers who went through the '08 recession and had a tough time finding jobs then it feels like a way to protect for that in the future >> and worker advocates say that downturn or not, workers' mindsets have changed due to the pandemic and this momentum will be hard to slow down >> i think it's the collective action that you're seeing that isn't going to get stopped by whatever the recessionary forces are. working people

kate rogers joins us now did you know a big character howard schulz is here.t are people telling you about the prospects for the new ceo to come in and take over for someone who has had such vision for this company it will be joining as incoming ceo as october 1st and he was the ceo of record ben kieser and they make directs and airwick and many other brands and he was the global cco at pepsico. schultz will be staying on as interim ceo until april 1, 2023, and he will serve as adviser while remaining on the starbucks board of directors so he's not fully stepping away. the market dealing with impacts on the pandemic with china and the changing consumer in the u.s. and the union fight with workers at more than the 200,000 cafes across the country the international markets were key for this hire. analystses have been weighing in and andrew charles at cowan said while they were surprised that starbucks chose the successor outside the discretionary sector, the global perspectives as ceo of a public multinational corporation and background in beverages and pepsico

let's get to kate rogers with the details. >> starbucks announcing just this afternoon that laxman narasimhanl be joining as incoming ceo on october 1st. he was most recently the reason theo of consumer hygiene health and nutrition company. he was also global coo at pepsico, and a senior partner at mckinney and company. howard schultz will be staying on as interim ceo until april 1st of 2023. will also serve as an adviser through the calendar year of 2023, and remaining on the starbucks board of directors. in a statement about the announcement, schultz said, quote, he is uniquely positioned to shape his work and laid the company forward with his partner centered approach and demonstrated track record of building capabilities and driving growth in both mature and emerging markets. this was not a name that analyst had been sickening. we heard rich allison of dominoes, potentially, also mary dylan, now ceo of footlocker, but formally of older, had both floated. the company was focusing on an external hire for the role. it also recently saw the departures of its evp of north america, russ and wil

i'm kate rogers. chicago in conversation with footlocker ceo mary dillon. they want to include an innovation hub and keeping the company's headquarters in chicago. he also talked about challenges and operations like zero covid in china being a big hurdle and not as challenging, and what that means for brators he says he believes we're heading into a minor recession in the u.s. but likely a more significant recession in such as a rough. he says the company will continue to focus on value two other topics, menu items, things that have come an began if you want mcplant, buy mcplant alluding to possible sales of the beyond meat patties saying items that don't sell well don't stay lock on the market like salads, et cetera. ab-257, the new law signed by gavin newsom in california to regulate the fast food industry calls it a terrible piece of legislation because it picks winners and losers and does not apply to all restaurants evenly. >> thanks very much. >>> the tortoise or the hare, low volatility or mome

kate rogers has the details. >> stair becomes announcing that laxman narasimhan will be joining starbucksbeen global c.o.o. at pepsico. howard shultz will stay until april 1st, 2023, and will serve as a adviser through the calendar year of 2023 while remaining on the board of directors. schultz said, he's uniquely possessioned to shape this work and lead the company forward, and demonstrated track record. and analysts also weighing in, he lacks restaurant operating experience with he believe his appointment could set the stage for accelerating growth in emerging markets where the brand lacks material expectation that was echoed at cowen we are optimistic that mr. narasimhan perspectives will serve starbucks well into the next chapter schultz has been focussing on the reinvention for the brand of the future, meeting consumers where they want to be, improving safety in stores, and the partner experience as the company faces down the ongoing union fight the likely more to come on investor day on september 13th we now schultz cares very deeply about how this goes. back over to you guys. >> th

kate with the business, as ever, thank you very much indeed. stay with us. more to come, including more on roger the great tennis player announcing he's going to call it a day. we will tell you exactly how and why and when. >> on france 24, watch exclusive interviews with the world's most influentl rsonalities. >> we are protecting our freedom. >> encounters with key political leaders. leading figures from the worlds of culture, sport, and science. >> whatever you think is right, you can. >> watch the interview: a meeting of ideas, on france 24 and rents24.com. -- france24.com. liberte, egalite, actualite. 09/15/22 09/15/22 [captioning made possible by democracy now!] amy: from new york, this is democracy now! the white house has announced a tentative deal to avert a nationwide mourning -- rail strike. we will at the latest. then to pakistan where one third of the country is underwater. >> the global respon t