overall is mary kay henry, president of the service employees international union along with our own kate rogers. first, kate, give us the details. >> hey, there. thanks so much. as you said, this is a landmark bill for the state of cal california. most importantly getting that wage to $20 an hour. we want to thank you for being here with us. of course, this is a win for your worker members, but there have been some critiques from franchisees and business owners that this could be extremely costly. is there a concern it will put workers out of the job in the end? >> this is a transformative agreement that has been reached that allows workers, franchise owners, to sit at a table together and solve systemic problems that have existed for a half a million jobs in california. >> and california typically a leader for the nation in terms of legislation of this nature. what states is the seiu considering next for this organized action? >> the fast food workers movement has been led by the bravery and tenacity of black, brown, and immigrant women, primarily, and men who haven't let no stop them. and so

the stock underperformed this year, down 4% year to date back over to you. >> kate rogers. >>> despitetarbucks received a downgrade from the desk of td cowen. andrew charles is here at post 9 to talk more about the note. it's good to have you. thanks for coming in you used the word albatross. >> yes >> why that definitive with the challenges in china? >> good morning. it's i think more of a call on the multiple that china has dominated the investor narrative. reminds us of circa 2005 when china reached 90% of operating profits. so, i think we're seeing the same thing here with china with starbucks that for here on out for the foreseeable future wul see this dominate the investor narrative. here we are looking at a very competitive set in china, that's indicated to be using aggressive discounts by competitors for the next two-plus years. combined with a macro back drop that's dicey we see better opportunities elsewhere and choose to step sideways. >> you take your china comps for next year and '25, roughly, in half >> yeah. we're below consensus. i think the numbers are stretched. the c

joining us to break down that call is our restaurants and small business correspondent, kate rogers.good morning. you saw the stock trading around $380 they're raising this to $450 oppenheimer talking about domino's being a revival story that could impact same store sales and calling it one of the most promising self-help cycles. you mentioned relaunching loyalty. domino's at 77 million loyalty members. it's making it easier to earn points this is reverse trend where you have to spend a little more. it's harder to earn points or get free items i believe with domino's you can get a free pizza after just two orders and you can use the points on more items that will incentivize purchases. having a loyalty only option works well take a look at sector for brands like chipotle and starbucks, another one with huge success driving a lot of sales that's certainly a smart thing to do there. >> so, what's the bear case on domino's everyone was so bullish that the delivery and the technology was so far ahead of everyone and then that story kind of collapsed. what are the two sides >> certainly,

kate rogers joins us with the details. >> reporter: this was a win of course for fast food workers inp to $20 an hour on april 1st with chains at more than 60 location nationwide. it was brokered by a fast food coalition that includes the seiu and advocates from the national franchise association. there were further hikes to come, but the deal removed provisions that owners were concerned about. it gets california to the highest in the nation and there are further concerns that would create similar fast food councils to create wages and conditions. telling me they're not stopping with california. take a listen. >> that's why this fast food sector council so significant in the state of california, why we need repry late it in other states, and why we need to transform national labor law to actually make it possible to hold multinational corporations accountable and get them at the bargaining table to make decisions on wages and benefits. >> reporter: this one will certainly be one to watch, thank you. >> 20 bucks an hour is higher than the base minimum wage in california which is highe

let's bring in kate rogers with the latest.like it didn't sit well. >> the national owners association, an independent advocacy group, spoke out on the fee changes in a letter to its membership last week. mcdonald's did announce friday it would raise franchising service fees in the u.s. from 4% to 5% and changing the name to royalties. the noa says the change in nomenclature is significant and will remove the company's duty to provide vital services. it's imploring owners to review new agreements with the company along with a franchise attorney. reinvestment decisions should be cons considered as reopening a new restaurant. adding it's time for every owner to begin focusing on protecting their business and their family. joe erlinger said we're not changing services but we're trying to change the mindset to see what you buy into when you buy the mcdonald's brand and system. even when accounting for inflation, 2023 is expected to be one of the highest franchisee years in history. >> quick question. it sounds like it's not so much

our kate rogers has the details. , tyler hi starbucks lower today on this downgrade from td cowen from outperform to market perform about its business in china. analysts say, we like the long-term story, but move to the sidelines as we monitor china dynamics, pointing to the pressures there. it says it was pleased with the company's performance in china in june, but has concerns that the headwinds are set to increase, rather than ease up. last quarter, same-store sales in china increased 46%, as the company lapped some major covid lockdown us. this downgrade comes as starbucks announced the opening of a china innovation coffee park an hour from shanghai it is a global first for the company and its largest investment in a manufacturing and distribution center outside of the u.s. at $220 million. the center will support the company's goal to reach 9,000 locations in china by 2025 it has about 6,500 today back to you. >> and what is the total store count, do you know, globally >> off the top of my head, i want to say it'

kate rogers joins me now with some other names that could be at risk. >> yeah. week, blaming on vulnerabilities. the first is key names to watch as student loan payments resume in october. that will have an adverse impact on spending but will remain a modest issue. 63% of respondents said they will dine out or spend less once the loan repayments resume. a couple of names that will be impacted, starbucks, shake shack and chipotle. the consumer is looking stretched, pointing to some vulnerable charts in casual names. but wells fargo had some bets in the fast food space, naming s of a forecast in slowdown on the street, and it's positive on those two names, despite recent share pullback and softness in the month of august. now, year-to-date, mcdonald's up 5%, young is lagging down 1%. the names that are best performing the year so far are those stocks that are correlated with higher price points for consumers when it comes to meals. shake shack, those are some of the other names that are vulnerable. but the best stock performers of the year. >> kate, thank you very

closing bell market zone julia boorstin shares the highlights from if disney's investor summer, kate rogerss selloff and what's the next highly anticipated ipo julia, disney shares not taking it well the message that management delivered about plans. >> disney shares dropping on news the company is dropping the expenditures on parks to $60 billion over the next decade outlining room for expansion on land and sea saying they have over 1,000 acres of land for possible future development, the equivalent of seven new disneylands and see a market of 700 million additional people who want to visit the parks beyond the 100 million that want to visit annually. bob iger is addressing concerns saying this morning, quote, the company is able to absorb those costs and continue to grow the bottom line and look expansively at how we return valuable and capital to our shareholders. you see disney shares down 3.5% going into the close. >> it seems across the businesses, what before was considered to be a sure thing in terms of returns on these investments, theme park, cap x, a marvel movie at the box offic

let's bring in kate rogers for more on what this means for the company. >> you said it. mcdonald's raising its royalty fee from 4 to 5% in new locations beginning january 31st. the higher fee formerly known as a service charge will impact those new franchisees, those who buy company owned restaurants or new restaurants. it will not impact owners with current footprints or restaurants transferred between family members. telling cnbc, quote, we're not changing services but we are trying to change the mind-set by getting people to see and understand the power of what you buy into when you buy the mcdonald's brand, the mcdonald's system. the company says the fee has not kept pace with the brand value over the years, and cash flows up 35% in five years. the business course has remained strong and same store sales were up 10.3% in the most recent quarter. what comes next is how franchisees will react. they have butted heads with corporate over the last few years and the company has made major changes to the franchise structure including putting in place new grading systems for

kate rogers. >> thank you. >>> speaking of fast food it is time for today's three stock lunch. begin with oracle today. a bullish ai cloud out prompting an upgrade from bark liz saying it is a multi year growth story here with the chief is david katz. oracle, what would you do with the stock here? >> the stock has been one of the cheaper technology companies for the last few years. it's been the wall flower of the group. and we think that that's real. the stock has gone from cheap to fairly valuable. we think it's going to have good business momentum. earnings estimates are coming up for this year, and next year we're very comfortable holding the stock. we prefer amazon and qualcomm, but again, oracle is a good company right now. >> all righty, let's turn to papa johns pizza, a big move from the mid cap index to the small cap index. the stock also getting an upgrade recently from wedbush, which said the stock is just too cheap. what's the trade here, david? >> so on papa johns, we'd be a seller. we think the stock has done poorly this year. the business trends have been difficu

we want more of it, kate rogers. what can you tell us? >> hey, kelly.hose major chains as you mentioned looking to the suburbs for their next major wave of growth, seeing not only a stable customer growth due to changing migration patterns during the pandemic but also a different labor pool. names like sweet green and cava as you mentioned have pointed to the burbs for expansion plans in recent years allowing access to customers thinking beyond the typical office lunch rush and instead to dinner. but some companies are also seeing different labor patterns there. coffee chain bluestone lane says it's looking to suburban expansion for its four new restaurants this year, adding that hiring has been more successful in locations outside of major cities. take a listen to ceo nicholas stone. >> we're seeing a dramatically lower amount of turnover in suburban locations versus inner urban. and i think that's primarily driven by cost of living pressures. that the challenge of young people that are working in the hospitality industry or retail industry is pronounc

kate rogers joins us to explain why. good morning. >> good morning, carl. canada. the first raise in nearly 30 years. the higher fee, known as a service charge, will affect new franchisees or buy company locations. it will not impact those with current footprints or those who by a location from another franchisee or restaurants transferred between family members. mcdonald's president saying, we're not changing services, but we are trying to change the mindset by getting people to see the power of what you buy into when you buy the mcdonald's brand, the mcdonald's system. they say it has not kept pace with the brand and mcdonald's are at all-time highs with cash flows up 35% in the past year. the business has remained strong and a top position pick in a potential downturn. same store sales up 10.3% in the most recent quarter. what comes next is how franchisees react. they run 95% of mcdonald's locations. they have butted heads with corporate. we have been reporting on franchising structure, as far as putting in place a new grading system and changing terms f

those children in roger off towards to kate, ukraine, and old ties with f timeless a broken. and this is clearly a genocide. when hatred is weaponized against one nation, it never stops the r, each dictate rocks and starts. and you war parts of model in georgia, already main, occupied roger to on see right into the ruins. and if not, the russia, the chemical weapons would have never been use the or, you know, syria unintended spring heat wave is sweeping across se australia as a result of the popularity of weather. more than 60 well for us and been in new south wales temperature's 8016 degrees about the september the deadlines one who's coming up right after, which we'll see you next. are the things that we will look that i'm going to sit on to the i'm sorry the the last one, even though i throw in some done on the photos and i show the only thing i'm really should come with a should only be like yeah, but the lines on the, not the middle of the of the choices is not positive. this was a lot of file. let me know if the deal got me started with a uh what was that on my cell ph

those children in roger off towards to kate, ukraine, and old ties with f timeless a broken. and this is clearly a genocide. when hatred is weaponized against one nation, it never stops. they are each dictate a rush or starts, and you war parts of moldova in georgia, already main occupied raj, it's on see right into ruins. and it's not the russia, the chemical weapons would have never been use the or, you know, syria, russia has almost swallowed villarille's. it is obviously a threat any cause i stopped in the baltic states. and the goal of the present war against ukraine is to tour our lands our people, our lives, our souls, is into a weapon against you. again, the international rules based order, many seats in the general assembly whole may become empty and empty. if russia succeeds with its directory and the russian lattice, and johnson on the rest are skiffs, hers deaths, and brings ruins, even without news. but the outcomes are like, we see towns which it will, is using ukraine, wiped out by rushing their villray levels to the ground completely. we see the war of drones.

they'll shield room in roger off towards to kate, ukraine, and old ties with their families broken. and this is clearly a genocide and when hatreds is weaponized against one nation, it never stops the r. each the gate rocks and starts, and you war parts of moldova in georgia, already main occupied raj, it's on see right into ruins. and if not russia, the chemical weapons would have never been use the are in syria. the phase one person has been killed in west and ukraine, officer of russian drones at 3 warehouses in the v of the facilities. houses, humanitarian supplies, emergency services, say the finest part of an area of neely's 10000 square maces. you claims f o says it's shut down. most of the agent joins that belongs on tuesday morning and intends for an heat wave of sweeping across se, australia as a result of the powerful el nino weather pattern. well, the 60 wald fires have been it across the street is most popular, state new south wales temperatures and the 16 degrees above the september, the average. it was those of the headlines on al jazeera do stay with us. a select is

those children in roger off towards to kate, ukraine, and old ties with f timeless a broken. and this is clearly a genocide, and when hatreds is weaponized against one nation, it never stops the r each. the kate russia starts. and you war parts of the in georgia already main occupied roger to on see right into the ruins . and if not, the russia, the chemical weapons would have never been use the are, you know, syria, is there any forces have killed in these full palestinians in an operation in the occupied westbank? 29 others were injured when it's ready forces rated the janine refugee camp an intense spring heat wave is sweeping across healthy still strain. the are the result of the powerful el nino where the packing more than 60 while far as a buddy in new south wales temperatures and 8016 degrees above the september i grew up today with headlines. got more news coming up here on the 0 right after the listening post. now for the inhabitants of indonesia is remote islands. health care is home delivered by so 1st nurses and for them to use as a veteran, those hands over the r

those children and roger off towards to kate, ukraine, and old ties with their timeless a broken. and this is clearly a genocide. when, hey, thread is weaponized against one nation. it never stops the r each. the kate russia starts. and you war parts of moldova in georgia, already made. okay, but roger told syria into ruins. and if not, the russia, the chemical weapons would have never been use the are in syria, are like every nation. the world united states wants, has more than no nation wants this word and more than ukraine. we strongly support your credit and its efforts to bring about diplomatic resolution. it delivers just the last 2 piece. russia alone, russia alone bears responsibility for this war. russia alone has the power to end. this war means is russia alone. this stands in the way of peace because of russia's price for peace is ukraine's capitulation, ukraine's territory and ukraine's children. meanwhile, the new crane, at least one person has been killed after a russian drawn and struck 3 industrial warehouses in the v emergency services, say a fi, it spread over an

those children and roger off towards to kate, ukraine, and old ties with their timeless a broken. and this is clearly a genocide when, hey, thread is weaponized against one nation, it never stops. they are each dictate. a rush of starts, and you war parts of the in georgia already main occupied roger to on see right into the ruins. and if not, the russia, the chemical weapons would have never been use the are in syria, funeral resolving health and the occupied westbank has the number of palestinians dead and his really res rises to 5. thousands of others were injured and one is read lawrence smith's thoughts on the janine refugee can need to. abraham has moved from ramallah in these ways when it comes to the occupied, the west bank are more than just the regular and the daily occurrence. these really forces read cities in the occupied the west bank every day, every night. and there are a lot of injuries as well as palestinians who are being killed. now this time specifically when we're talking about the junior refuge account, they're saying that they want to arrest want this kind

those children in roger off towards to kate, ukraine, and old ties with f timeless a broken. and this is clearly a genocide us president joe biden clearly wanted to send the same message rusher alone bears responsibility for this war, russian law and has the power to end. this war means as russia alone, this stands and the way a piece, because the rushes price for peace is ukraine's capitulation, ukraine's territory and ukraine's children. but on the sidelines, there is talk that it may be time for peace. the vladimir putin could be persuaded to make a deal chatter zalinski pointedly rejected. he says, prudence is untrustworthy, pointing out the fate of a one time prudent ally who seemed to cross him and died in a plain explosion. now i am aware of the attempts to make some shady dealings behind the scenes. evil cannot be thrusted to ask pretty goes and you craze. expect to take center stage again here on wednesday as you insecurity. council needs to talk about the war. and we expect the president zalinski and russian foreign minister circuit love rob will be in the same room

the kate, a rush and starts, and you war parts of moldova in georgia already made. okay. but roger told syria into ruins and it's not the russia, the chemical weapons would have never been use the or, you know, syria. meanwhile, in ukraine, at least one person has been killed in the west of a russian drone attack. struck street industrial warehouses in the vic emergency services say, a phosphate over an area of nearly 10000 square meters. ukraine's air force as it shuts down, most of the ac drugs that were launched in the store. and molly's miniature leadership has one of the hyphen, the risk of attacks. and in the around that time. okay. and the wave of fighting has broken out between the army and toner, a rebel in northern molly young's group. so that sees control of 2 on a ton of their right, bothered from the west african nation has increased since u. n at troops announced a withdrawal in june. those, all the headlines and use continues head off to, i'll just say well the, the the, the, the city or 5 sources i'm trying to stay in, i should be labeled as many on half of the supe

those children and roger off towards to kate, ukraine and old ties with that fabulous a broken. and this is clearly a genocide when hayes red is weaponized against one nation, it never stops. they are each dictate. a rush and starts and you war the parts of mandolin, georgia, i remained occupied raj, it's on sierra, into ruins. and it's not the russia, the chemical weapons would have never been use the or, you know, syria. meanwhile, in ukraine, at least one person has been killed. off the russian drone attack struck street industrial warehouses in with emergency services say, a fire spread over an area of 9010000 square meters, ukraine's air force as it shut down most of the 18 drones that were launched in the strike. for those, all the headlines is always our website. i'll just say what the. com has the latest on top stores, but the big picture is the next stage. it works out of their existence. it's load ship as a principal presenter, as a correspondence with the brakes and the store. we want to hear from those people who was normally know that voices heard on the internation

those children in roger off towards to kate, ukraine, and old ties with that fabulous a broken. and this is clearly a genocide when hatreds is weaponized against one nation, it never stops the r. each the kate a rush of starts and you war parts of moldova in georgia, already main occupied raj. it's on see right into ruins and it's not the russia, the chemical weapons would have never been use the are you know, syria. meanwhile, in ukraine, at least one person has been killed in the west of the country. of the russian drone attacks drunk and street industrial warehouses in the zip measure. seat services say a fire spread over an area of nearly 10000 square meters if cranes air force as it shops down most of the 18 drugs that we're doing in the strong sort of hands on those is there. we look at how the fights against the dogs is delta of crippling blow to the country's economy. on an escalating diplomatic route between canada and india. those countries have expelled diplomats, the as hello, there were things in very unsettled weather across europe at the moment. and there's more o

those children in roger off towards to kate, ukraine, and old ties with that fabulous a broken. and this is clearly a genocide when hatred is weaponized against one nation. it never stops the r each. the kate, russia starts, and you war the parts of mandolin, georgia remained occupied. ross, it's on see right into the ruins. and it's not the russia, the chemical weapons would have never been use the are, you know, syria is ready. forces are killed in these full palestinians in an operation in the occupied westbank 29. others were injured when is ready, forces rated that you need a refugee camp. meanwhile in gaza, one palestinian protest has been killed and 9 of the engine officers ready forces acting far along the east to the purchase at that board earlier this week is reading countries the extra much you know by distribution and intern spring heat wave is sweeping across se, australia as a result of the powerful l, need your whether putting more than 615 branding in new south wells. temperature at 8016 degrees above the september average. or alright, right. stay with the headli

those children in roger off towards to kate, ukraine, and old ties with that fabulous a broken. and this is clearly a genocide when hatred is a weaponized against one nation. it never stops the r, each, the kate, russia starts. and you wor, a parcel model in georgia already main occupied raj, it's on see right into ruins. and it's not the russia, the chemical weapons would have never been use the are, you know, syria, is there any forces of killed at least full pallets the incident operations in the occupied westbank $20.00 were injured when it's ready, forces rated that you need a refugee come so meanwhile, and guns, that one published a new protest that has been killed and 9 others in just after his reading forces opened far along the eastern border. there were protests at that border earlier this week of it is really concussions. at the help. so most in occupied east jerusalem and in 10 spring, a heat wave is sweeping across south east australia. as a result of the powerful new weather putting more than 61 finds a burning in new south wales temperatures and 816 degrees above

those children in roger off towards to kate, ukraine, and old ties with that fabulous a broken. and this is clearly a genocide. when, hey, thread is a weaponized against one nation. it never stops. they are each dictate. rocks of starts and you war parts of moldova in georgia, already main occupied raj, it's on see right into the ruins. and it's not the russia, the chemical weapons would have never been use the or you know, syria, roxanne has almost swallowed villarille's. it is all busily afraid of any cause. i stopped in the baltic states. and the goal of the present war against ukraine is to tour our lands our people, our lives, our soldiers, into a weapon against you. again, the international rules based order, many seats in the general assembly whole may become empty and empty. if russia succeeds, with its directory, and the russian lattice johnson on the rest, are skiffs, hers, dest and brings ruins, even without news. but the alt coms are alike we see tones with a will of juicing ukraine, wiped out by rushing their villray levels to the ground completely. we see the war o

will now receive to use for humanitarian purposes, but roger carstens, the envoy for hostage affairs, he reiterated that this is, quote, a good deal. kateust stuck watching ahmad shargi, his daughters running to him. much more to come on this. sara? >>> the migrant crisis at the southern border is exploding again. officials in el paso say the city is on the cusp of a third wave of migrants and local shelters capacity. the region has seen a spike at the texas/mexico border averaging about 1,200 encounters per day. cnn's ed lavendera is on the ground in el paso. what are you seeing there, and what do officials say they need to be able to handle this influx? >> reporter: well, they are really using all of the homeless shelter capacity and migrant center capacity that nonprofits have set up here that have been set up for many years now, sara, but the numbers that you are seeing here in el paso are not numbers that we have seen since title 42 ended which really de-escalated a lot of this for some time, but we are now as one official here is warning, perhaps on the cusp of another wave of migrants here in the city, and it's been a while since