Raphael Stevens

GM investors want the two-day event to be a catalyst and roadmap for sustainable shareholder growth.
The automaker hopes to deliver that through details regarding final targets, new businesses and software initiatives and its transition to electric and autonomous vehicles.

GM CEO and chairman Mary Barra speaks during an “EV Day” on March 4, 2020 at the company’s tech and design campus in Warren, Mich., a suburb of Detroit

DETROIT – Wall Street is expecting a lot from General Motors’ two-day investor event that starts Wednesday afternoon  – from specific revenue and earnings targets to new details about its electric and autonomous vehicle operations.
But what GM investors really want is a roadmap for sustainable shareholder growth. It’s something the automaker has flirted with under CEO Mary Barra but never been able to retain.

The stock has swung wildly under Barra’s reign, from a 60% surge in share price to an almost as big drop since she took the helm in January 2014, according to FactSet. Before this year, shares of GM were largely down since Barra took the reins. They’re now up by 36%, with almost all of that growth coming this year alone.
That type of growth is what analysts believe could continue if GM can swiftly deliver on its plans to transform the company — at least in investor eyes — into more of a technology company than a traditional automaker.

“With the core objective of GM’s investor day centered on demonstrating the growth opportunities ahead for GM, we expect a case to be made for GM multiple expansion … which we believe it merits,” Credit Suisse analyst Dan Levy said in an investor note Friday. “We believe a clear case can be made for GM stock north of $100.”
Deutsche Bank analyst Emmanuel Rosner said the event “could serve as a positive catalyst for the stock” if GM meets investor expectations, specifically regarding its plans for electric and autonomous vehicles.
Morgan Stanley analyst Adam Jonas noted several key growth areas and business opportunities for GM, while questioning whether the event will “simply reinforce what many already believe about GM or can it catalyze a more significant change in strategic path?”

Like investors, Barra and her executive leadership team are hoping for the latter. Here are five ways GM is going to try and make that happen.

Details

Investors should expect an unprecedented amount of details during the event, including specific targets regarding revenue, profit margins and the outlook on total market size for early expansion businesses like self-driving taxis.
It’s one of two things Jonas believes will be important for GM to accomplish: “Provide the transparency and disclosure to help the analyst and investment community to both model and value the company’s critical tech-oriented business units,” he said in an investor note last week.
GM’s revenue last year was nearly $122.5 billion, down 10.8% compared with 2019 thanks largely to factory shutdowns at the beginning of the coronavirus pandemic. It still made $6.4 billion in net income for the year while its adjusted operating profit was $9.7 billion, or $4.90 a share, in 2020.

Urgency

The other important thing for GM is leaving the “investment community with the sense of urgency that the company is taking the necessary steps to attract the necessary capital and talent to allow GM’s capabilities to be successful,” Jonas said.
Barra and other GM executives such as President Mark Reuss and CFO Paul Jacobson are expected to discuss how the automaker is investing as fast as possible in electric and autonomous vehicles to bring the technologies to market more quickly.
GM earlier this year said it would invest $35 billion in electric and autonomous vehicles by 2025, up 30% from plans announced late last year.

EVs

Under that investment, GM has said it would offer 30 new EVs by 2025. The company is expected to better detail its transition from an automaker heavily reliant on vehicles with internal combustion engines to exclusively offering electric cars and trucks by 2035.
“We continue to believe GM offers a compelling EV strategy, with one of the most holistic and ambitious EV strategies of legacy OEMs, underlying our positive outlook on GM. That said, it’s now time for execution, as we await data points indicating GM can maintain market share and profitability in an EV world,” Levy said.

The investor event overall is expected to provide a “clear strategy” in an effort to increase the company’s valuation to be more like a technology company, much like Tesla is at more than $740 billion. GM’s market cap is about $79 billion.

AVs

Dan Ammann, CEO of GM’s majority-owned autonomous vehicle subsidiary Cruise, will tell investors that it sees a path for its ride-hailing business to reach $50 billion in revenue as it ramps up operations.
He won’t detail a specific timeline to hit such a milestone, but he’s expected to explain how they plan to build it up fast, if not faster, than other transformative businesses, according to a person who is familiar with the plans, which were reported earlier by Bloomberg.
GM also is expected to discuss additional details about its hands-free Super Cruise driving system, which it has promised to offer on 22 models by 2023.

Software

GM wants to increase recurring revenue and customer loyalty through a new internally developed software system for vehicles that it’s calling “Ultifi.”
Much like Apple or Google retain customers with their iOS and Android operating systems for personal electronics, GM will push to do the same with vehicles and Ultifi.
“That’s a goal. The more we integrate our product into their lives and the better we make … certainly that’s what we want to achieve. It’s not a guarantee,” Scott Miller, GM vice president of software-defined vehicle, told reporters last week during a call.
The automaker aims to integrate the software platform into customers’ digital lives through software features, apps and personalized services that will be regularly updated remotely. That could include paying for new services such as its hands-free highway driving system and other technologies.
– CNBC’s Michael Bloom contributed to this report.

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Footwear and apparel stocks are getting attention.
A survey of 10,000 U.S. teens released Tuesday placed Nike in the top spot among their favorite footwear and apparel brands, with Adidas also ranking in the top three for footwear and pulling fourth alongside Lululemon for apparel.

Wedbush analysts also revealed their optimism around the group in a Tuesday note, initiating coverage on 18 footwear and apparel stocks and giving Under Armour, Nike and Adidas outperform ratings.
Supply chain issues have plagued the space in the past month, however, with Nike down more than 8% and Adidas falling nearly 12%.
Another popular footwear stock is worth considering, Inside Edge Capital Management founder Todd Gordon told CNBC’s “Trading Nation” on Tuesday.
“I like Crocs. This company has kind of reinvented itself,” said Gordon, whose firm owns shares. “They’ve come back incredibly with the teen market. … It’s seen just massive growth in recent years.”
Up more than 118% year to date, Crocs’ stock still has trend line support at its current levels and remains well valued, Gordon said. The shares rose nearly 1% on Tuesday to $136.92.

Arrows pointing outwards

Though retailers are struggling with supply chain issues tied to Vietnam’s Covid-19 restrictions, Crocs may have an advantage, Gordon said, qualifying that he would watch the company’s late October earnings report to see what it said about sourcing from Vietnam.
“They have increased their debt lately, which is an issue, but they are a direct-to-consumer operator. Half of their revenue comes from there where the other names … are wholesale revenue sourced,” Gordon said. “[Crocs’] operating margins are far superior as they’re tapping this digital leverage.”
Another trader was also watching Vietnam’s supply chain impact.
“The demand is very there for Nike,” Chantico Global founder and CEO Gina Sanchez said in the same interview. “I think it’s one of the better picks. It’s one that we own in our portfolio for our client strategies at Lido Advisors. But the supply is just getting hit by what’s happening in Vietnam right now.”
With 50% of its shoes sourced from Vietnam, Nike will continue to face a “significant challenge” heading into the holiday season, said Sanchez, who is also chief market strategist at Lido Advisors.
“Once those shoes get made, transit times are twice as long,” she said. “Nike has a lot of challenges in order to get the shoes stocked on the shelves in time for the holiday rush.”
Disclosure: Inside Edge Capital Management owns shares of Crocs. Lido Advisors owns shares of Nike.
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The WHO estimated that 10% to 20% of Covid-19 patients experienced lingering symptoms for months following infection.
These prolonged symptoms can include persistent fatigue, breathlessness, brain fog and depression.
Health experts say the condition is clearly of public health concern, given the substantial impact it has on society, ranging from increased health care costs to economic and productivity losses.

A man enters the headquarters of the World Health Organization (WHO) on June 15, 2021 in Geneva, Switzerland.
Sean Gallup | Getty Images

LONDON — The World Health Organization on Wednesday published a definition of long Covid for the first time, seeking to provide much-needed clarity on one of the most mysterious aspects of the coronavirus pandemic.
Here’s how the U.N. health agency has defined long Covid, referring to it as “post Covid-19 condition,” the name proposed by WHO’s International Classification of Diseases.

“Post COVID-19 condition occurs in individuals with a history of probable or confirmed SARS-CoV-2 infection, usually 3 months from the onset of COVID-19 with symptoms that last for at least 2 months and cannot be explained by an alternative diagnosis,” the WHO said.
“Common symptoms include fatigue, shortness of breath, cognitive dysfunction but also others … which generally have an impact on everyday functioning. Symptoms may be new onset, following initial recovery from an acute COVID-19 episode, or persist from the initial illness. Symptoms may also fluctuate or relapse over time.”
The WHO said a separate definition may be applicable for children.
The global health agency has previously said it has taken a long time to resolve a formal definition of long Covid because there are so many linked symptoms associated with the condition.
“Within the whole of the WHO, this has been a major issue for us,” Dr. Mike Ryan, executive director of the WHO’s Health Emergencies Program, said on Wednesday.

“We have to remain vigilant, this pandemic is not over and it continues to cause disease, continues to cause death, but it also continues to cause long-term consequences for people around the world,” Ryan said. “Again, within the falling numbers that we see, that masks tremendous problems emerging in countries.”
Ryan described the definition of long Covid as “a great step forward,” before adding the WHO’s understanding of the condition was evolving and therefore likely to change.

‘A modern medical challenge of the first order’

Most people who get Covid-19 suffer the common symptoms of a persistent cough, fever and shortness of breath, and recover within a few days or weeks.
However, for some, the symptoms can last much longer.
The WHO estimated that 10% to 20% of Covid-19 patients experienced lingering symptoms for months following infection. These prolonged symptoms can include persistent fatigue, breathlessness, brain fog and depression.

An Iranian man wearing a face mask as protection from Covid-19 sits on a bench at the Grand Bazaar of Iran’s capital Tehran on September 5, 2021.
ATTA KENARE | AFP | Getty Images

Health experts say the condition is clearly of public health concern, given the substantial impact it has on society, ranging from increased health care costs to economic and productivity losses.
To date, there is no proven treatment or rehabilitation guidance for those with long Covid even as the post-viral syndrome continues to affect people’s daily functioning and their capacity to work.
An editorial published in The Lancet on Aug. 28, described long Covid as “a modern medical challenge of the first order.”

Managing long Covid

The British Medical Journal hosted an online webinar last month to discuss the diagnosis, management and prognosis of long Covid.
Health experts on the panel said “profound fatigue” was a common symptom among many with the condition, while a wide range of other symptoms included muscle and body aches, chest heaviness or pressure, skin rashes, palpitations, fever, headache, diarrhoea and pins and needles.
“A very common feature is the relapsing, remitting nature of the illness, where you feel as though you’ve recovered, then it hits you back,” said Nisreen Alwan, associate professor in public health, University of Southampton, during the panel.
“It’s a constant cycle of disappointment, not just to you but people around you, who really want you to recover,” she added, reflecting on her own battle with long Covid.
Paul Garner, professor at the Liverpool School of Tropical Medicine, said his personal battle with the disease had left him feeling “repeatedly battered the first two months.” Garner said that he experienced lesser episodes in the subsequent four months, albeit with continual fatigue.
On managing the condition, Alwan said that as someone with long Covid, “you learn your patterns, learn what brings on utter exhaustion or the other symptoms, and try to avoid those things.”
She said it was imperative that long Covid cases be incorporated into broader Covid-19 statistics. “We are missing a huge opportunity to quantify and measure long Covid in the same way that we’re doing with positive test results and deaths.”
In the U.K., for example, an estimated 970,000 people (1.5% of the population) had self-reported long Covid on Aug. 1, according to data compiled by the Office for National Statistics.
Prevalence of the post-viral syndrome was greatest in people aged 35 to 69 years old, females, people living in the most deprived areas, those working in health or social care and those with another activity-limiting health condition or disability.

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The annual CNBC FA 100 ranking recognizes advisory firms that help clients successfully navigate their financial lives.
While D.I.Y. investing may suit some, others may feel they need to hire a financial expert to guide them toward their specific financial goals.
The CNBC FA 100 ranking of advisors takes into consideration factors beyond just assets under management.

Westend61 | Westend61 | Getty Images

Let’s be honest: Making personal financial decisions can be challenging.
There’s a variety of investment options, all of which carry some form of risk. And, of course, there are many types of retirement plans to choose from, each with their own set of tax consequences.

The seemingly endless amount of choices can make it overwhelming for many investors.
The bottom line is that there’s an overload of investment possibilities. And, for many, planning and managing those options can be complicated.
More from FA 100:Meet the financial advisor ranked No. 1 by CNBCHow the pandemic has changed the financial advice businessHere’s how top financial advisors are hiring young talent
For some, do-it-yourself investing holds significant appeal. Many of these investors are perfectly capable of self-managing their own portfolios. However, other investors feel they need to hire a financial expert to create a game plan to meet their specific financial goals.
To be sure, there has been a growing demand for financial advisory services in the wake of the pandemic. To that point, a 2020 survey by The College for Financial Planning concluded that demand for financial advice has increased since the outbreak of Covid-19, with 71% of financial advisors polled saying they have more clients now than prior to the pandemic.

Indeed, the pandemic had consumers looking to financial professionals for guidance, according to a Nationwide Financial survey of more than 2,000 adults, conducted during the first week of April 2020. The survey concluded: “With so much uncertainty, many people looked for help in identifying ways to take better control of their finances.”

The poll found that 24% of respondents said they reached out to a financial professional for the first time as a result of the pandemic. The survey also found 80% of respondents felt they lost control of their ability to manage their investments and finances since the pandemic emerged.
Times of uncertainty are usually a trigger for people seeking advice, experts say.
Of course, finding that financial advisor who is the right match for you comes with its own set of challenges. And since an advisor can play a key role in helping you grow and protect your wealth, it’s important to find one you trust and who will help you achieve your personal financial goals.
There are so many things to consider before choosing the right advisor.

The services provided by financial advisors will vary based on the type of advisor, but overall, a financial advisor will assess your current financial situation — including your assets, debts and expenses — and identify areas for improvement.
A good financial advisor will ask you about your goals and create a plan to help you reach them. That may mean discussing your budget, retirement planning, estate planning, insurance needs or tax strategies. Financial advisors also help invest your money, either by recommending specific investments or providing complete investment management. Again, it varies from advisor to advisor.
And contrary to common belief, financial advice isn’t just for the wealthy. In fact, the right guidance early in anyone’s financial life can have the biggest impact on long-term financial success.

Finding the financial advisor for you

kate_sept2004 | E+ | Getty Images

That’s why it’s so important to find a financial advisor you trust. Doing so comes down to engaging in some research and homework, interviewing several advisors and asking the right questions. Here are some questions you should pose to a prospective advisor:

How long have you been a financial advisor?
Are you a fiduciary?
Do you hold any professional certifications or designations?
What services do you offer?
What’s your investment strategy or style?
How are you compensated? And how much will I be charged for your services?
When, how and how often do you talk to clients?
Can you offer some client referrals?

For the third year in a row, CNBC unveils its ranking of top financial advisors.
The CNBC FA 100 recognizes those advisory firms that best help clients navigate their financial lives. If you are looking for some financial assistance, we hope this list of top financial advisory firms can aid you in your search. It may help you better understand the options that are available and how to select a trusted advisor.
The CNBC FA 100 ranking takes into consideration factors beyond just assets under management. The ranking is based on a proprietary methodology developed by CNBC in partnership with data provider AccuPoint Solutions. (View the methodology here.) It was based on data culled from SEC filings from a list of 38,302 registered investment advisory firms.
Tune in to CNBC’s Halftime Report at 12 ET today to see chief investment officer Joe Veranth of Dana Investment Advisors, Inc., which earned the top spot on the CNBC FA 100 list. More

Home Depot has hired Walmart to deliver paint, tools and other online purchases to customers’ doors.
The home improvement retailer is the first customer for Walmart’s new delivery business, GoLocal.
The same-day and next-day delivery service will be limited to home improvement purchases that can easily fit into a car, such as fasteners, boxes of nails or paint brushes.

Walmart and Home Depot
Kena Betancur | VIEWpress | Getty Images; Scott Mlyn | CNBC

Home Depot is hiring Walmart to deliver paint, tools and other online purchases to customers’ doors.
The two retailers announced the partnership Wednesday. The companies declined to share terms of the deal or the length of the contract.

The home improvement retailer is the first retail client to sign up for Walmart’s new delivery business, GoLocal. Walmart launched the business in late August, with plans to attract customers ranging from local stores to national players and make money from last-mile deliveries, similar to a third-party service like Instacart. Deliveries are made by gig economy workers who use Walmart’s delivery platform, Spark Driver.
Walmart will begin the deliveries at select stores in New Mexico, Texas and Arkansas in the next few weeks, and then expand to other markets across the country before year’s end, the two companies’ spokespeople said. The same-day and next-day delivery service will be limited to items that can easily fit into a car, such as fasteners, boxes of nails or paint brushes. Those that qualify will have that option offered at online checkout.
For Walmart, the delivery business provides a new stream of revenue and a potential way to gather additional insights about consumer purchasing patterns. The big-box retailer has looked beyond retail to drive growth, as it opens health clinics, creates a fintech start-up and ramps up its advertising business.
The big-box retailer is betting that its huge footprint will give it an edge over delivery partners. It has a more than 4,700 stores scattered throughout the country, including in many rural areas. About 90% of Americans live within 10 miles of a Walmart store, according to the company.
For Home Depot, the delivery agreement is another way to shorten the time between when a customer places an online order and receives an item. It brings the company a step closer to its goal of offering same-day or next-day delivery to 90% of the U.S. population. The retailer is investing $1.2 billion in its supply chain, including opening a network of flatbed distribution centers that can quickly deliver big and bulky orders to a construction site of a home professional or replenish inventory at stores.
Home Depot, which has 2,300 stores, has other ways shoppers can retrieve online orders, too, such as curbside pickup, in-store lockers and scheduled deliveries to homes and jobsites. Its e-commerce sales grew by 86% in fiscal 2020, which ended Jan. 31, compared with the year prior.

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Burger King will test Impossible Foods’ meatless nuggets in several markets, making it the first fast-food chain to offer the company’s new chicken alternative.
The Restaurant Brands International chain first worked with Impossible Foods two years ago as the first fast-food chain to sell its meatless burgers.
The test comes as traditional chicken meat becomes more expensive and harder to find.

Burger King’s Impossible Nuggets
Burger King

Burger King will test Impossible Foods’ meatless nuggets in several markets, making it the first fast-food chain to offer the company’s new chicken alternative.
Starting Monday, customers in Des Moines, Iowa, Boston and Miami will be able to try the plant-based Impossible Nuggets.

The Restaurant Brands International chain first worked with Impossible Foods two years ago as the first fast-food chain to sell its meatless burgers. After an initial lift to sales from the buzzy item, the chain cut its price, bringing it closer to a beef Whopper. Burger King’s rival McDonald’s has a partnership with Impossible’s primary challenger Beyond Meat, although they haven’t yet launched a plant-based item together nationwide in the U.S. yet.
For Burger King, the Impossible Nuggets offer a similar opportunity to the Impossible Whopper to drive traffic to its restaurants. While meat alternatives are more common on fast-food menus now, chicken substitutes are a rare find since both Impossible and Beyond only launched their iterations recently. Impossible began rolling out its meatless nuggets in restaurants and grocery stores in September, while Beyond’s tenders hit restaurants in July.
The test comes as traditional chicken meat becomes more expensive and harder to find. According to Bank of America Securities, chicken commodity prices have doubled this year. Yum Brands’ KFC stopped advertising its chicken tenders due a supply shortage last month.
Burger King also announced Wednesday that it will roll out Ghost Pepper Chicken Nuggets nationwide on Monday. Unlike the Impossible Nuggets, these are made with white meat chicken.
Shares of Restaurant Brands have risen less than 1% this year, giving it a market value of $28.5 billion.

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CNBC Travel

An annual list of the world’s 50 best restaurants is back — and for the first time, one city dominated the top two spots.
Two restaurants in Copenhagen, Denmark — Noma and Geranium — ranked No. 1 and No. 2 respectively, at “The World’s 50 Best Restaurants” awards ceremony held Tuesday in Antwerp, Belgium.

This marks Noma’s fifth time to top the list since 2010.
Since the list’s inception in 2002, European — and occasionally American — restaurants have produced the world’s top restaurant. This year keeps that streak intact.
The annual ranking, which is organized by the U.K.-based William Reed Media, wasn’t published last year due to the pandemic.

Noma — the world’s ‘best restaurant’ — again

Helmed by Chef Rene Redzepi, Noma is known for its “new Nordic cuisine” that relies on foraged and fermented foods.

An inside view of the Danish restaurant Noma, crowned the world’s best restaurant for the fifth time in the past 11 years.
Thibault Savary | AFP | Getty Images

Redzepi produces three menus every year — there’s the ocean season, the vegetable season, and the game and forest season — the latter which is currently being served for 2,800 Danish krones ($436) per person. Wine pairing is an additional $280, and each menu includes around 20 courses.

The menus within each “season” change, and no two experiences at the restaurant are said to be the same.

Suddenly everyone was asking: ‘What’s going on in Denmark?’

Rene Redzepi
chef and founder, Noma

“In 2010, when we stood at this stage and the words from the speaker blasted out that Noma was No. 1, it was truly a shock to my system — to everybody’s system — and certainly a shock to our reservation system…our website crashed multiple times,” said Redzepi at yesterday’s awards ceremony. “Suddenly everyone was asking: ‘What’s going on in Denmark?'”
After the same restaurants dominated the top rankings for more than a decade, the 50 Best organization announced in 2019 that No. 1 winners could not be voted onto subsequent years’ lists. Noma closed in 2016 and reopened in a new location in 2018, making it eligible to compete again.

Noma’s Rene Redzepi (L) is congratulated by Chef Mauro Colagreco (R) of France’s Mirazur restaurant at the awards ceremony of the ‘World’s 50 Best Restaurants 2021’, in Antwerp, Belgium on Tuesday, Oct. 5, 2021.
Jonas Roosens | AFP | Getty Images

Previous No. 1 winners are called “The Best of the Best.” Noma will soon join the seven restaurants on that list, which include El Bulli in Spain, The Fat Duck in the United Kingdom and The French Laundry in the United States, as well as “Noma (original location),” as it is written on the list.

The full list

The complete list is:
1. Noma (Copenhagen, Denmark)
2. Geranium (Copenhagen, Denmark)
3. Asador Etxebarri (Atxondo, Spain)
4. Central (Lima, Peru)
5. Disfrutar (Barcelona, Spain)
6. Frantzen (Stockholm, Sweden)
7. Maido (Lima, Peru)
8. Odette (Singapore)
9. Pujol (Mexico City, Mexico)
10. The Chairman (Hong Kong, China)
11. Den (Tokyo, Japan)
12. Steirereck (Vienna, Austria)
13. Don Julio (Buenos Aires, Argentina)
14. Mugaritz (San Sebastian, Spain)
15. Lido 84 (Gardone Riviera, Italy)
16. Elkano (Getaria, Spain)
17. A Casa do Porco (Sao Paulo, Brazil)
18. Piazza Duomo (Alba, Italy)
19. Narisawa (Tokyo, Japan)
20. Diverxo (Madrid, Spain)
21. Hisa Franko (Kobarid, Slovenia)
22. Cosme (New York City, USA)
23. Arpege (Paris, France)
24. Septime (Paris, France)
25. White Rabbit (Moscow, Russia)
26. Le Calandre (Rubano, Italy)
27. Quintonil (Mexico City, Mexico)
28. Benu (San Francisco, USA)
29. Reale (Castel di Sangro, Italy)
30. Twins Garden (Moscow, Russia)
31. Restaurant Tim Raue (Berlin, Germany)
32. The Clove Club (London, UK)
33. Lyle’s (London, UK)
34. Burnt Ends (Singapore)
35. Ultraviolet by Paul Pairet (Shanghai, China)
36. Hof Van Cleve (Kruishoutem, Belgium)
37. SingleThread (Healdsburg, California, USA)
38. Borago (Santiago, Chile)
39. Florilege (Tokyo, Japan)
40. Suhring (Bangkok, Thailand)
41. Alleno Paris au Pavillion Ledoyen (Paris, France)
42. Belcanto (Lisbon, Portugal)
43. Atomix (New York City, USA)
44. Le Bernardin (New York City, USA)
45. Nobelhart & Schmutzig (Berlin, Germany)
46. Leo (Bogotá, Colombia)
47. Maaemo (Oslo, Norway)
48. Atelier Crenn (San Francisco, USA)
49. Azurmendi (Larrabetzu, Spain)
50. Wolfgat (Paternoster, South Africa)
Europe dominated this year’s list, with more than half of the ranked restaurants located there. Asia took eight slots, with Singapore’s Odette (No. 8) awarded the highest position on the continent.

Singapore’s Odette was one of two restaurants in Asia voted into the top 10 of “The World’s 50 Best Restaurants” list for 2021.
Nicky Loh | Bloomberg | Bloomberg | Getty Images

Eight restaurants in North America made the cut, with Mexico’s Pujol named the “Best Restaurant in North America.” South America took six slots, with two — Central and Maido, both in Peru — named to the prestigious top 10 list.   
Africa edged onto the list, with South Africa’s Wolfgat, taking the 50th slot.
Spain left the awards with six restaurants etched onto the list — the most of any country. More than half are located in the Basque Country, an autonomous region and renowned culinary powerhouse near the French border.

How the list is made

This is how voting works, according to the 50 Best’s website.
Establishments are chosen by some 1,040 industry insiders referred to as “the academy.” They are food writers, critics, chefs and restaurateurs from 26 geographical regions around the globe. At least 25% of the academy members in each region change every year.
Each member chooses 10 restaurants. There are no set requirements, and restaurants are chosen at the discretion of the members, said William Drew, director of content for The World’s 50 Best Restaurants.

Workers prepare drinks and dishes at Barcelona’s Disfrutar restaurant, ranked No. 5 on the 2021 list of “The World’s 50 Best Restaurants.”
Xavi Torrent | Getty Images News | Getty Images

“For one person, the food may be everything; for another the wine list or the atmosphere may play a more important role,” he told CNBC. “There is no set criteria — we don’t believe there is, or should be, a type of restaurant that features in the 50 Best lists.”
Academy members must vote for at least four restaurants outside of their regions. To accommodate restricted travel and dining opportunities caused by the global pandemic, the 2021 list consisted of votes cast in January 2020 — which were never published — as well as updated regional choices, said Drew.

Other awards

Despite its name, the 50 Best organization last month released the list of restaurants that ranked from 51 to 100. The organization published its first expanded list in June — for its list of Asia’s 50 Best Bars — to recognize a greater number of deserving establishments, Mark Sansom, the list’s content editor told CNBC.
The academy also announced individual awards this week.
Peruvian chef Pia Leon claimed the World’s Best Female Chef award for her work at Lima’s Central restaurant — ranked No. 4 — as well as her first solo venture, the nature-inspired Kjolle restaurant, also in Lima, Peru.
Italy’s Lido 84 — which debuted at No.15 — received the Highest New Entry award, which is given to the restaurant that ranks the highest out of all new entrants on the list.
The 50 Best organization publishes several top 50 lists to highlight excellence in the food industry, including The World’s Best Bars and regional listings such as The 50 Best Restaurants in Asia and The 50 Best Restaurants in Latin America. More