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Gas prices hurt restaurant spending at Domino’s, Applebee’s

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Gas prices hurt restaurant spending at Domino's, Applebee's

A pedestrian walks by a Domino’s in San Francisco, Dec. 9, 2025.

Justin Sullivan | Getty Images

From Domino’s Pizza to Applebee’s, restaurant chains are reporting that sales softened in March as gas prices spiked.

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The U.S. war with Iran has led to an average national gas price of more than $4.50 per gallon — and contributed to a new record low for consumer sentiment. As consumers pay more for their fuel, they are trying to save money in other areas. A survey of drivers conducted by Numerator found that 43% of respondents have cut back on dining out and takeout since gas prices started climbing.

“March and April were softer than January and February, particularly with this value-oriented consumer that we saw staying home more often or dining at lower-cost alternatives, and we attribute that to gas prices specifically and the economy more generally,” John Peyton, CEO of Applebee’s and IHOP parent Dine Brands, told CNBC. “We know that when gas prices start to go past $3.50, that affects that guest for us.”

That poses an ongoing risk for some restaurant chains if gas prices stay elevated in the months ahead.

To attract budget-conscious consumers, Applebee’s is accelerating its rollout of its All-You-Can-Eat special. Starting Monday, diners will be able to eat as many shrimp, boneless wings, riblets and fries as they want for $15.99.

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Across the restaurant industry, traffic fell 2.3% in March compared with the year-ago period, according to Black Box Intelligence. But not all chains felt the same crunch.

Chipotle reported surprise same-store sales growth for its first quarter despite weaker sales at the end of the reporting period.

“In March, there was a little bit of softening in our trends right around the time where the Iran conflict began,” CFO Adam Rymer said on the company’s earnings conference call in late April, adding that sales have since accelerated.

Gas prices above $6 per gallon are displayed at Chevron and Shell stations in Monterey Park, California, on April 30, 2026.

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Frederic J. Brown | Afp | Getty Images

On the other hand, Shake Shack CEO Rob Lynch said that the burger chain had relatively consistent sales during the first quarter.

“We didn’t see significant changes,” he said on the company’s earnings conference call on Thursday. “We did see a little bit of softening in the back half of March, but not at a significant rate.”

And Outback Steakhouse owner Bloomin’ Brands, Wendy’s and Sweetgreen all reported that their sales sequentially improved in March compared with earlier in the quarter, largely thanks to a reprieve from winter storms. Even so, all three companies saw traffic shrink during the first three months of the year.

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How restaurants are responding

So far, the increase in gas prices is most affecting the spending of low-income consumers, a cohort that was already feeling the pressure of higher costs, from rent to grocery bills.

“Clearly, when you have elevated gas prices, which is the core issue that I think we’re all seeing about in the press right now, gas prices, inflation on that, that is going to disproportionately impact low-income consumers,” McDonald’s CEO Chris Kempczinski said on the company’s earnings conference call on Thursday. “And so we expect the pressures there are going to continue.”

McDonald’s reported same-store sales growth of 3.7% in the first quarter, boosted by U.S. diners spending more at its restaurants. The fast-food giant has leaned into a barbell approach: value offerings for cash-strapped consumers and full-priced promotions for customers with higher incomes.

Some CEOs see the increase in gas prices as an opportunity to steal more market share as the overall pie of restaurant spending shrinks.

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“We have seen our market share accelerate, which obviously means then the casual-dining industry is shrinking or slowing down,” Kevin Hochman, CEO of Chili’s owner Brinker International, said in an interview. “It really started with the geopolitical events and then obviously the gas prices that ensued.”

For several days in late April, Chili’s saw customers trade down, like by buying fewer alcoholic drinks or skipping appetizers and desserts. Still, Hochman is optimistic that Chili’s will keep winning over customers with its approach to value.

“I think the strong players are going to get stronger,” he said.

Restaurant Brands International CEO Josh Kobza agrees.

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“Overall, when you look at the first quarter, there wasn’t any kind of sequential deceleration in the total [quick-service restaurant] performance,” Kobza said. “What I think is the most interesting is the dispersion in outcomes. You have some concepts that are doing really well, and you have some concepts that are struggling.”

He used Burger King’s U.S. performance as one example. The burger chain owned by RBI reported domestic same-store sales growth of 5.8%, outpacing rivals McDonald’s and Wendy’s same-store sales during the quarter.

“I’d say our results are much more impacted by the places where we’re doing a really great job than, I would say, the big variations that are driven by macro factors so far,” Kobza added.

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Hormel Foods expands Herdez line

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Hormel Foods expands Herdez line

The Asada line features marinades, barbecue sauces and taco seasonings. 

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Strategic Market Entry and Regional Structuring Approaches for Australian Businesses

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Strategic Market Entry and Regional Structuring Approaches for Australian Businesses

ASEAN offers Australian companies expansion opportunities, but strategic market selection depends on goals such as sales, manufacturing, supply chain, or tax efficiency, considering regional differences.

ASEAN: A Key Growth Region for Australian Businesses

ASEAN is increasingly vital for Australian companies aiming to expand markets, enhance supply chain resilience, and access Southeast Asia’s growing consumer and industrial markets. With over 680 million people and a combined economy surpassing US$3.8 trillion, the region offers significant scale and opportunity. However, its diversity necessitates strategic planning to maximize benefits and mitigate risks.

Strategic Approach to ASEAN Expansion

Expansion into ASEAN should be viewed as a phased, strategic process rather than a simple entry. The initial market choice depends on the company’s goals—whether it’s boosting sales, expanding manufacturing capacity, diversifying supply chains, managing regional operations, or optimizing tax. Firms need to prioritize their primary commercial function to determine the most suitable early markets within the region.

Priorities for Australian Companies

Australian firms should first identify whether their focus is manufacturing, procurement, regional coordination, or consumer access. Countries like Malaysia and Thailand remain attractive for industrial infrastructure and manufacturing integration. Many companies adopt a hub-and-spoke model, using Singapore for regional oversight and distributing operations across other ASEAN nations based on sector suitability and operational needs.

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GM lays off 500-600 salaried IT workers to cut costs

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GM lays off 500-600 salaried IT workers to cut costs

The General Motors global headquarters in Detroit, Jan. 12, 2026.

Jeff Kowalsky | Bloomberg | Getty Images

DETROIT – General Motors is laying off hundreds of salaried employees in its information technology operations as the automaker reevaluates its workforce needs and cuts costs, CNBC has learned.

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The global reductions began Monday and will impact about 500 to 600 employees, largely in Austin, Texas, and Warren, Michigan, according to a person familiar with the plans who was not authorized to speak publicly about the reductions.

GM confirmed the cuts, which were first reported by Bloomberg News, but declined to give specific details about the actions.

“GM is transforming its Information Technology organization to better position the company for the future. As part of that work, we have made the difficult decision to eliminate certain roles globally. We are grateful for the contributions of the employees affected and are committed to supporting them through this transition,” the automaker said in an emailed statement.  

GM reported employing about 68,000 salaried workers globally as of the end of last year, including 47,000 white-collar employees in the U.S.

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Despite Monday’s cuts, GM still is still hiring IT workers. The company has 82 open IT positions that include positions working in artificial intelligence, motorsports and autonomous vehicles, according to the automaker’s careers website.

The Detroit automaker in recent years has routinely re-evaluated its salaried workforce, based on expected needs and skill sets. In October, GM laid off more than 200 Computer-Aided Design, or CAD, engineers due to “business conditions.”

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Gordon Chang calls Chinese EVs ‘rolling spy machines’ before Trump-Xi talks

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Gordon Chang calls Chinese EVs 'rolling spy machines' before Trump-Xi talks

President Donald Trump’s upcoming meeting with Chinese President Xi Jinping is drawing renewed attention to concerns that Chinese electric vehicles entering North America through Canada could pose national security risks inside the United States.

Gatestone Institute senior fellow Gordon Chang joined FOX Business’ Maria Bartiromo on “Mornings with Maria” to discuss tensions surrounding China’s trade practices, energy policy and Beijing’s growing EV footprint ahead of the high-stakes Beijing meeting.

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BYD's Shenzhen car carrier.

China’s BYD Shenzhen car carrier docked to load electric vehicles for export. (CN-STR / AFP / Getty Images)

The discussion comes as lawmakers push legislation aimed at blocking Chinese electric vehicles from entering the U.S. market, citing concerns over surveillance technology and connected-vehicle systems capable of collecting sensitive data.

Sen. Bernie Moreno, R-Ohio, warned that the vehicles function as “little Trojan horses” because of the amount of information they can collect and transmit.

“These cars have lots of cameras. They send back data to the Communist Party and can be remotely controlled by the Communist Party,” Moreno said during a recent appearance on “Sunday Morning Futures.”

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AI EXPOSES HIDDEN RISKS IN US MILITARY SUPPLY CHAIN TIED TO CHINA

Chang expanded on those concerns, warning that Canada’s decision to lower tariffs on some Chinese EV imports could create another pathway for the vehicles to reach the United States.

“We should not allow Canadians to drive their Chinese EV across our border into our country because China will be able to surveil the United States with the Canadian cars,” Chang said.

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GORDON CHANG: US SHOULD EXPAND SANCTIONS ON CHINA-LINKED NETWORKS TO HIT IRAN OIL REVENUE

Chang also described Chinese EVs as “rolling spy machines,” arguing that the issue underscores broader tensions between Washington and Beijing ahead of Trump’s expected meeting with Xi later this week.

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Elon Musk and Tim Cook among CEOs expected to accompany Trump on China trip

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Elon Musk and Tim Cook among CEOs expected to accompany Trump on China trip

A total of 17 US executives are set to join the president on his visit, where he will meet his Chinese counterpart Xi Jinping.

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Tostitos to launch guacamole dip

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Tostitos to launch guacamole dip

The dip is expected to roll out later this year. 

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Veeco Q1 2026 slides: AI demand fuels growth outlook despite earnings miss

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Lumentum Stock Soars as AI Optical Networking Rally Resumes

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Lumentum Stock Soars as AI Optical Networking Rally Resumes

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Leading Change in Higher Education

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Leading Change in Higher Education

How a First-Generation Student Became a Higher Ed Leader

David Shein did not start his college journey with a clear plan.

“I was a first-generation college student before we knew what that meant,” he says. “I didn’t have a roadmap.”

That early experience shaped his career. It gave him a clear focus. He wanted to make college easier to navigate for others.

Over the next 30 years, Shein became a leader in higher education. He built systems that helped students succeed. He also helped colleges rethink how they support them.

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Early Life and Education: Building Work Ethic Early

Shein started working young. He split a newspaper route with his brother. Later, he worked in stores, libraries, and even a cemetery.

These jobs taught him discipline and independence.

In school, he joined debate and theater. He then attended SUNY Oswego. He studied Philosophy and Political Science and graduated magna cum laude.

He continued his studies at Bowling Green State University before moving to the CUNY Graduate Center. There, he earned his PhD in Philosophy..

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His academic focus shaped how he thinks about systems and ideas.

Early Career: Learning How Colleges Really Work

While in graduate school, Shein began working at Lehman College.

He served as Coordinator of the Core Curriculum and led the tutoring center. This gave him direct insight into student needs.

“I worked closely with faculty and administrators to build connective tissue across academic and student affairs,” he says.

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That idea of “connective tissue” became central to his work.

He saw that many students struggled not because of ability, but because systems were disconnected.

Bard College Career: Building Systems That Scale

In 1999, Shein joined Bard College. He was hired to create a writing and tutoring center. He also became the college’s first disability support provider.

From the start, he focused on building structures, not just programs.

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Over time, he took on leadership roles, including Vice President for Student Success and Network Integration.

He also taught in the Philosophy department and First-Year Seminar.

But his biggest impact came from what he built.

He founded the Learning Commons. He launched Disability Support Services. He helped create the Center for Student Life and Advising.

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Each of these programs addressed a real gap.

“At the core of this work is a commitment to making the full college experience accessible,” he says.

Program Development and Innovation in Higher Education

Shein’s work went beyond campus services.

He helped secure accreditation for new programs and partnerships.

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He played a role in extending the Clemente Course in the Humanities to new communities, bringing college-level learning to underserved populations.

These projects reflect a clear pattern.

He identifies problems. Then he builds systems that last.

“It’s about helping students connect with their college experiences in ways that impact their lives beyond their time in university,” he says.

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Global Education and Fulbright Recognition

Shein’s work extended into international education.

He supported dual-degree partnerships and global programs across Bard’s network.

He also worked on Bard’s online Global Degree program. This expanded access to students around the world.

His efforts helped connect students across countries and cultures.

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In 2019, he received a Fulbright scholarship for his work in international education.

This recognition highlighted his long-term impact in the field.

Mentorship and Student Success Outcomes

Throughout his career, Shein advised hundreds of students.

Many of them went on to earn major awards, including Fulbright scholarships.

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But for Shein, outcomes are not just about recognition.

“It’s about helping students participate in meaningful ways in what can feel like an alien environment,” he says.

His focus has always been on engagement and belonging.

Life Beyond Work: Staying Grounded

Outside of his professional life, Shein stayed active in his community.

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He coached youth soccer and supported Model UN programs when his children were younger.

Today, he spends time fishing, traveling, and writing. He also volunteers at his local public library.

He participates in the Watershed Community Amphibian Migration Project, helping protect local wildlife.

These activities reflect his broader approach. Stay involved. Stay connected.

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What David Shein Is Doing Now

Upon retiring from Bard College, Shein retired from Bard College, he began working as an independent educational consultant.

His work now focuses on helping institutions improve advising systems, program design, and student support.

“I’ve spent my career helping students navigate environments that can feel unfamiliar,” he says.

That mission continues in his current work.

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Why David Shein’s Work Matters in Higher Education

Higher education is still evolving. Many students continue to face barriers.

Shein’s career offers a practical model.

He focused on building systems, not just ideas. He connected academic and student services. He expanded access through new programs.

Most importantly, he kept the student experience at the center.

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For someone who started without a roadmap, he has helped create one for others.

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Trump says Iran ceasefire on ’life support’ after rejecting Tehran’s response

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Trump says Iran ceasefire on ’life support’ after rejecting Tehran’s response


Trump says Iran ceasefire on ’life support’ after rejecting Tehran’s response

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