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“The players have decided to use specific moments during the upcoming campaign to take the knee, to amplify the message that racism has no place in football or society,” Premier League says.
Players will still take a knee before certain rounds of matches, including the FA Cup and Carabao Cup finals, as well as Boxing Day matches and the Premier League’s No Room For Racism rounds.
“We remain resolutely committed to eradicate racial prejudice, and to bring about an inclusive society with respect and equal opportunities for all,” Premier League captains say.

Players take a knee before a match between Tottenham Hotspur and Leicester City on May 1, 2022.
Visionhaus | Getty Images Sport | Getty Images

Premier League players will no longer routinely take a knee before matches, the league has announced ahead of the new season.
Players began taking the knee during Project Restart, in the wake of George Floyd’s unlawful killing in the USA and the Black Lives Matter movement which followed.

Aston Villa’s televised game with Sheffield United started off the top flight’s stance, which has since been replicated across the domestic leagues and beyond – and caused friction with the UK Government when England players were booed while making the stance ahead of Euro 2020 last summer.
More recently, a number of individual clubs and players have announced they will stop taking a knee and now, the Premier League have followed suit more than two years since the initiative was first introduced.
Players will still take a knee before certain rounds of matches, including the FA Cup and Carabao Cup finals, as well as Boxing Day matches and the Premier League’s No Room For Racism rounds.

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In a statement, the Premier League said: “Ahead of the new season, Premier League club captains have reaffirmed their commitment to fighting racism and all forms of discrimination.
“The players have decided to use specific moments during the upcoming campaign to take the knee, to amplify the message that racism has no place in football or society.
“The Premier League supports the players’ decision and, alongside the clubs, will use these opportunities to elevate anti-racism messaging as part of the League’s No Room for Racism Action Plan.”
Speaking as a collective, the 20 Premier League captains added that they would use “significant moments” of the forthcoming season to take the knee.
“We remain resolutely committed to eradicate racial prejudice, and to bring about an inclusive society with respect and equal opportunities for all,” they added.
The Premier League has also announced that £238,000 will be donated to a number of youth clubs on behalf of the club captains, with £119,000 coming from the royalties of the ‘No Room for Racism’ sleeve badges sold on club shirts in 2021/22, and the figure matched by the Premier League.

PFA chief: Decision about ‘finding a balance’

Maheta Molango, the first BAME chief executive of the Professional Footballers’ Association, said Premier League captains had reached their decision with the aim of finding a “balance” about how to show their support.
He said: “We’ve always been clear that choosing whether to take the knee should be a personal decision for each individual.
“We’ve spoken to players about this and what we’ve heard is that they want to find a balance. They don’t want the gesture of taking the knee to become routine, so that it potentially loses its impact.
“However, they are also committed to using their platform and their voice to continue to bring attention to what remains an extremely important issue, not just in England but around the world.”

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GXO Logistics customers are still doing well even as Wall Street fears that the economy is headed for a downturn, CEO Malcolm Wilson told CNBC’s Jim Cramer on Tuesday.
We just finished our quarter … nearly half a billion dollars of new customer contracts signed, and our business growing at 20% organic revenue. That’s a real statement of the economy,” Wilson said.

GXO Logistics customers are still doing well even as Wall Street fears that the economy is headed for a downturn, CEO Malcolm Wilson told CNBC’s Jim Cramer on Tuesday.
“We just finished our quarter … nearly half a billion dollars of new customer contracts signed, and our business growing at 20% organic revenue. That’s a real statement of the economy. I think we’re doing well,” Wilson said in an interview on “Mad Money.”

The supply chain management firm beat Wall Street expectations in its latest quarter reported after the closing bell on Tuesday. GXO saw adjusted earnings of 68 cents compared to an estimated 62 cents. Revenue came in at $2.16 billion dollars compared to an expected $2.11 billion.
Wilson said that GXO’s customers – who operate in industries such as automotive, e-commerce, technology and healthcare – aren’t letting concerns about an economic slowdown halt their plans for the future.
“What we’re seeing is our customers, big blue-chip international organizations, they’re wanting to continue to invest for the future,” he said, noting that the company has installed 90 new warehouses in the last 12 months.
“To me, that gives me a sense that they’re optimistic for the future, and we’re optimistic with them,” he added.
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It’s that time again! “Mad Money” host Jim Cramer rings the lightning round bell, which means he’s giving his answers to callers’ stock questions at rapid speed.

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Radware Ltd: “I’ve got to tell you, I think it’s too cheap to get rid of. I want to hold onto it.”

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Centene Corp: “I think it’s doing very, very well, and I want you to hold onto it.”

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CNBC’s Jim Cramer on Tuesday said that inflation is coming down at a good pace as he called out Federal Reserve leaders for hawkish comments that are dragging down the market.
“I don’t know how far prices have to fall before these people notice,” Cramer said.

CNBC’s Jim Cramer on Tuesday said that inflation is coming down at a good pace as he called out Federal Reserve leaders for hawkish comments that are dragging down the market.
“While we hear Fed officials and hedge fund managers and strategists opine about how the Federal Reserve will have to double the federal funds rate to stop runaway inflation, ask yourself which commodities, which goods they’re actually talking about,” the “Mad Money” host said.

Chicago Fed President Charles Evans said Tuesday that he hopes for smaller interest rate increases going forward, starting with a half-percentage point raise in September followed by quarter-percentage point hikes until the start of the second quarter next year.
In contrast, San Francisco Fed President Mary Daly said the central bank is “nowhere near almost done” with interest rate increases, and Cleveland Fed President Loretta Mester warned that policymakers are not in a position to change their inflation-fighting stance. 
Cramer pointed to falling prices in commodities including lumber, copper and aluminum to illustrate his point. He acknowledged that oil is still high, but reminded investors that gas prices have come down at the pumps. 
Job openings fell in June to their lowest level since September 2021, suggesting the market is beginning to slow. In addition, inventory gluts at stores like Walmart mean there’ll be cheaper prices for goods on shelves, he added.
“I don’t know how far prices have to fall before these people notice,” Cramer said.

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Starbucks said U.S. consumers aren’t trading down or reducing their spending on coffee despite inflation.
The coffee giant suspended its fiscal 2022 outlook last quarter, citing the uncertainty caused by Covid lockdowns in China.
China’s same-store sales fell 44% during the company’s fiscal third quarter.

An employee hands a bag to a customer at the drive-thru of a Starbucks coffee shop in Hercules, California, on Thursday, July 28, 2022.
David Paul Morris | Bloomberg | Getty Images

Starbucks on Tuesday reported better-than-expected quarterly earnings and revenue, fueled by demand in the U.S. for its cold coffee drinks.
As inflation surges, interim CEO Howard Schultz said the chain is not seeing customers trade down or reduce their spending. Other restaurant companies, including McDonald’s and Chipotle Mexican Grill, have seen low-income consumers visit less frequently or spend less as higher gas and grocery bills squeeze their budgets. Schultz credited Starbucks’ pricing power and customer loyalty for its ability to buck the trend.

Shares of the company rose more than 1% in extended trading.
Here’s what the company reported for the quarter ended July 3 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

Earnings per share: 84 cents adjusted vs. 75 cents expected
Revenue: $8.15 billion vs. $8.11 billion expected

The coffee giant reported fiscal third-quarter net income attributable to Starbucks of $912.9 million, or 79 cents per share, down from $1.15 billion, or 97 cents per share, a year earlier. The company said that inflation and higher wages for baristas weighed on its margins this quarter.
Net sales rose 9% to $8.15 billion. The company reported global same-store sales growth of 3%, fueled by a stronger performance in the United States.
In Starbucks’ home market, same-store sales increased 9%, driven largely by higher average order totals, as well as a 1% uptick in traffic. Morning sales are returning, the company said, making up roughly half of revenue as consumers resume pre-pandemic routines.

The company also noted the popularity of its iced shaken espresso and said cold beverages accounted for three quarters of U.S. sales this quarter. Schultz said customers are more likely to add modifiers like syrups and milks to cold drinks than hot drinks, raising the price of the overall beverage. Cold drinks are also popular with Gen Z customers, a key demographic for the coffee chain, according to Schultz.
Outside the U.S., same-store sales fell 18%, weighed down by plummeting demand in China. Starbucks said Covid restrictions affected sales in its second-largest market for two-thirds of the quarter. As a result, China’s same-store sales plunged 44%. The company is still seeing periodic short-term closures in China. 
Last quarter, Starbucks pulled its outlook for fiscal 2022, citing the uncertainty caused by Covid outbreaks in China. The company did not issue a new forecast this quarter.
Starbucks opened 318 net new locations worldwide during the quarter, bringing its global restaurant count to 34,948.
The company plans to hold an investor day on Sept. 13 in Seattle to share more about its strategy for the future.
Read the full earnings report here.
Correction: An earlier version of this story misstated Refinitiv estimates for Starbucks’ quarterly revenue.

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Electric truck maker Nikola has finally won shareholder approval to issue new stock, the company said on Tuesday.
The company said it can now increase its total shares outstanding from 600 million to 800 million, giving it flexibility to raise cash by issuing new funds as needed.
More than 66% of the total votes cast, or more than 211 million shares, were in favor of the proposal, Nikola said in a statement.

Nikola Motor Company
Source: Nikola Motor Company

Electric truck maker Nikola has finally won shareholder approval to issue new stock, the company said on Tuesday. Nikola has been trying for two months to win enough votes to overcome the objection of its since-departed founder, who previously voted his 20% interest in Nikola against the proposal.
The company said it can now increase its total shares outstanding from 600 million to 800 million, giving it flexibility to raise cash by issuing new funds as needed. More than 66% of the total votes cast, or more than 211 million shares, were in favor of the proposal, Nikola said in a statement.

The measure required approval by owners of at least 50% of the company’s outstanding shares to pass.
The company’s June 1 annual shareholders’ meeting was adjourned after Nikola’s founder and former CEO and chairman, Trevor Milton, voted against the proposal. The meeting briefly resumed on June 30, and again on July 18, only to be adjourned again on both occasions as the total votes in favor fell short of the needed threshold.
Milton, who founded Nikola in 2014, left the company in September 2020 following allegations of fraud. He remains the company’s largest shareholder. Milton owns about 11% of Nikola’s stock outright and controls another 9% via an investment vehicle that he co-owns, giving him effective control of about 90 million shares of Nikola’s stock.
Milton was indicted by a federal grand jury on four counts of fraud related to representations he made to potential Nikola investors. His trial is scheduled to begin in September. Milton has denied the allegations.
Nikola said on Monday that it has agreed to acquire battery-pack supplier Romeo Power in a $144 million all-stock transaction that won’t require it to issue new shares. The truck maker is expected to report its second-quarter results — and its plans for the additional shares — before the U.S. markets open on Thursday.

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Molson Coors is seeing a split emerge among beer drinkers as inflation hurts their wallets.
Some beer drinkers are trading down to cheaper options like Keystone Light, while others are still willing to pay more for Blue Moon and Peroni beer.
CEO Gavin Hattersley told CNBC the overall beer industry saw softening sales in the second quarter.

A bottle of Molson Coors Brewing Co. Blue Moon brand beer
Tiffany Hagler-Geard | Bloomberg | Getty Images

Molson Coors Beverage is seeing a split emerge among its customers as inflation hits their wallets: Some beer drinkers are trading down, while others are still shelling out for pricier six-packs.
Shares of the beverage company closed down more than 10% Tuesday as concerns about the uncertain macroeconomic environment weighed on the stock. The company reported second-quarter earnings and revenue roughly in line with Wall Street’s estimates.

CEO Gavin Hattersley told CNBC that the beer industry saw softening sales during the second quarter, which the company blamed for a 1.7% decline in its U.S. sales volume.
But Molson Coors said it outpaced the broader industry in the U.S., Canada and the U.K. during the period. Hattersley credited strong sales growth for pricier drinks like Blue Moon and Peroni beer, as well as strengthening demand for cheaper beers like Miller High Life and Keystone Light.
A year ago, Molson Coors began trimming its portfolio of lower-priced beers to focus on more other options. Some investors wanted the company to ditch the segment altogether and instead focus entirely on more expensive beers, which have performed better in recent years.
“What some would regard as an Achilles heel, in the past, has positioned us perfectly at the moment,” Hattersley said. “Some of our competitors only operate in the premium space, which is obviously not a place I’d like to be as we’re heading into what’s clearly going to be tough times.”
As Molson Coors’ six-packs get more expensive, more consumers could trade down to its lower-priced options. The company raised its prices in the spring by nearly double its usual rate and is considering another round of hikes toward the end of 2022, Hattersley said.
Beer isn’t the only industry seeing a split in in consumer spending behavior. Ferrari reported a record second quarter on Tuesday, fueled by soaring growth for its luxury cars, while Delta Air Lines said demand for premium-class tickets has outpaced that of main cabin tickets. Chipotle Mexican Grill said high-income customers are visiting more frequently, while those making less than $75,000 a year aren’t ordering its burritos as often.

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Miami Dolphins owner and real estate developer Stephen Ross has been fined $1.5 million and suspended from participating in team events and operations through Oct. 17.
The penalties mark the conclusion of the NFL’s investigation into reports that the Dolphins tampered with coaches and players from other teams and that it intentionally lost games to improve its draft prospects.
The Dolphins will also forfeit the team’s first-round pick in the 2023 draft and the third-round pick in the 2024 draft.

Owner Stephen Ross of the Miami Dolphins looks on prior to the game against the Buffalo Bills at Hard Rock Stadium on September 19, 2021 in Miami Gardens, Florida.
Michael Reaves | Getty Images

Miami Dolphins owner and real estate developer Stephen Ross has been fined $1.5 million and suspended from participating in team events and operations through Oct. 17 after the club was found to have violated NFL tampering policies, the league said Tuesday.
The Dolphins will also forfeit the team’s first-round pick in the 2023 draft and the third-round pick in the 2024 draft.

The penalties mark the conclusion of the NFL’s investigation into reports that the Dolphins tampered with coaches and players from other teams and that it intentionally lost games to improve its draft prospects.
The team did not intentionally lose games, according to the investigation, but did hold conversations between 2019 and 2022 with then-Patriots quarterback Tom Brady and the agent of then-Saints coach Sean Payton that went against the league’s policies.
“The investigators found tampering violations of unprecedented scope and severity,” NFL Commissioner Roger Goodell said in a statement. “I know of no prior instance of a team violating the prohibition on tampering with both a head coach and star player, to the potential detriment of multiple other clubs, over a period of several years.”
Brady was under contract, first with New England and then with the Tampa Bay Buccaneers, when Bruce Beal, the Dolphins vice chair, contacted him about joining the team in various capacities, according to the investigation. Beal and Ross were both “active participants” in those discussions, the league said.
The team also contacted Don Yee, the agent of Sean Payton, about having Payton serve as Miami’s head coach, the investigation found. The Dolphins did not seek the consent of the Saints organization before reaching out, according to the probe, and when they eventually did seek that consent, the New Orleans team declined.

Beal was fined $500,000 and is not allowed to attend league meetings for the remainder of the 2022 season.
While the investigation found no evidence that the team intentionally lost games, the NFL confirmed that Ross “expressed his belief that the Dolphins’ position in the upcoming 2020 draft should take priority over the team’s win-loss record” on multiple occasions. 
Miami’s coach, Brian Flores, expressed concern about Ross’s comments, including a claimed offer by Ross to pay Flores $100,000 to lose games, a comment the NFL said was “not intended or taken to be a serious offer.”
“An owner or senior executive must understand the weight that his or her words carry, and the risk that a comment will be taken seriously and acted upon,” Goodell said in his statement. “The comments made by Mr. Ross did not affect Coach Flores’ commitment to win and the Dolphins competed to win every game.”
The Miami Dolphins tweeted a statement from Stephen Ross in response. 
“The independent investigation cleared our organization on any issues related to tanking,” said Ross. “With regards to tampering, I strongly disagree with the conclusions and the punishment. However, I will accept the outcome.”
The penalty comes as Ross’s real estate company, Related Companies, competes for limited and extremely valuable licenses to open casinos in New York City, according to media reports. The license will depend on approval from a community advisory board and would likely involve a background check.
Ross called Flores’ allegations “false, malicious and defamatory” but looked forward to there being “no distractions” for the Dolphins as the 2022 season begins. 
Flores sued the NFL in February alleging racist hiring practices by the league. Flores, who is Black, was fired after putting up a 24-25 record in three seasons with the Dolphins, including a winning 10-6 record in the 2020 season in which he expressed concerns about Ross’ comments.
His lawsuit revealed further allegations against the team and its owner, including the “tanking” claims.
Flores in a statement said he was “thankful that the NFL’s investigator found my factual allegations against Stephen Ross are true.”
“At the same time, I am disappointed to learn that the investigator minimized Mr. Ross’s offers and pressure to tank games,” he said. “Mr. Ross will avoid any meaningful consequence. There is nothing more important when it comes to the game of football itself than the integrity of the game.”
—CNBC’s Jessica Golden and Dan Mangan contributed to this report.

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