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- McDoughnuts: A Sweet Partnership
Good Morning!
Here’s what’s moving the markets today:
👉 Mcdonald’s lands partnership
👉 Adam Neumann offers WeWork
👉 China sends out special invites
Plus…
STOCK MARKET MADNESS IS LIVE 📈
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McDonalds: Lands Partnership
McDonald’s plans to offer Krispy Kreme doughnuts nationwide by the end of 2026 after a successful test phase. This move will make McDonald’s the sole fast-food outlet for Krispy Kreme in the U.S. Krispy Kreme will expand its distribution to meet this new demand, initially targeting around 6,000 of McDonald’s 13,500 locations. The announcement boosted Krispy Kreme’s stock by nearly 20%.
Source: RetailFact
This partnership aims to enhance McDonald’s breakfast and bakery options, with customers able to buy a variety of Krispy Kreme doughnuts all day. As a result, Krispy Kreme expects to increase its global presence significantly.
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WeBack: Adam Neumann
Adam Neumann has offered to buy WeWork out of bankruptcy for over $500 million, a figure that could reach up to $900 million. The source of Neumann's funding is unclear, especially after reports about financial backing from Dan Loeb’s Third Point were disputed. Neumann, linked with his family office and a real estate project supported by Andreessen Horowitz, has shown renewed interest in WeWork, which he co-founded and eventually fired from.
Source: Bloomberg
WeWork filed for bankruptcy in 2023 and is trying to get back on its feet by shedding some of its leases. Neumann’s bid adds another twist to the company’s complex bankruptcy proceedings, especially as WeWork aims to cut costs by leaving less profitable leases, a move challenged by some landlords.
China: Special Invites
Several American business leaders in Beijing are changing their plans to meet with a top Chinese official, likely President Xi Jinping, on Wednesday. Although invitations didn't name Xi, insiders familiar with the plans believe he will be there, similar to a previous event in San Francisco. Notable executives, including those from Pfizer, FedEx, and Amway, are in Beijing for the China Development Forum. Some guests need to extend their trips for this meeting, while at least two can't make it due to other commitments.
Source: CNN
China is trying to boost confidence as foreign investment has dropped significantly, affected by U.S. tensions, pandemic policies, and strict security laws. Recently, China made it easier for companies to handle data across borders, addressing concerns from international businesses.
Headlines You Need To Know: 🎙
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