Chick-fil-A

Good morning! It’s all happening in the world of fast food this morning: McDonald’s is battling an [E. coli outbreak](, Denny’s is [closing stores](, Chick-fil-A is doing entertainment (more on that later), and Starbucks got a [double shot of disappointment](. Today we’re exploring: - Chick-fil-A: Why the chicken sandwich specialist is making an entertainment app. - Sales freeze: Existing home sales in the US just hit a 14-year low. - Balance of power: Russia is hosting the BRICS summit this week. Have feedback for us? Just hit reply - we'd love to hear from you! TOGETHER WITH [Sponsor Logo](   You’ve heard of chick flicks… Now, though, Chick-fil-A is changing the meaning altogether. Yes, the [rumors]( are true: America’s largest chicken-sandwich server is launching a streaming and entertainment service as of next month (which Hope King at [Axios]( called “the modern-day equivalent of the Happy Meal toy”). On Monday, the fast-food chain announced that its new [free app]( will be available from November 18, complete with family-friendly shows, podcasts, recipes, and games designed to keep adults and kids occupied between waffle fries. Described by the company as “the ultimate digital playground,” Chick-fil-A Play will also feature original content, including episodes of the “Evergreen Hills” animated series that the company has spent the past five years [fine-tuning](. Secret Sauce The obvious question to all of this is: why? Well, in part because it sells so many strips and nugs that it can effectively do whatever it wants. Last year, the company brought in $21.6 billion worth of sales — an almost 20-fold increase from two decades prior — across its ~3,000 restaurants. These astronomical figures are even more staggering considering that all Chick-fil-A outlets are closed on Sundays (in keeping with the brand’s well-reported [conservative values](). Indeed, the [drive-thru aficionado]( has seen strong growth off the back of its unique business model. The company’s franchise system generally only allows for one location per owner, ensuring that operators aren’t spread too thin and helping to maintain their focus on customer service. Looking forward, Chick-fil-A’s ever-widening reach shows no signs of slowing, with the company also in the midst of a $1 billion global expansion into Europe and Asia. Watch this space... Chick-fil-A’s move into entertainment is part of a new trend of companies making their own original content to communicate products and brand stories, following both Lyft and Airbnb making forays into media and the announcement of [‘Starbucks Studios’]( in June. [Read this on the web instead](   The “freeze” in the housing market is showing few signs of thawing out. In September, previously owned American home sales slowed to a seasonally-adjusted annual rate of just 3.84 million, some way below analysts’ estimates and the [lowest reading in 14 years](. Indeed, when it comes to buying a home, Americans are increasingly only interested if the mortar’s barely dry. While existing house sales still far outweigh the amount of deals being done on new homes in the US, when you compare the current housing market to how it sat 10 years ago, a clear trend has emerged: sales of new homes have picked up, while sales of older housing stock have fallen. The rate of new home sales in August (relative to the start of 2014) was up more than 65%, while existing home sales are down 21% over the same time frame, dropping from a rate of 4.9 million a decade ago. There are, of course, a multitude of factors at play influencing this latest trend, from current home owners refusing to budge thanks to low mortgage rates effectively [locking them in](, to new-build constructors dangling some pretty appealing discounts and deals for buyers as a way to shift [inventory stockpiles](. [Read this on the web instead](   [Sponsored by Sanofi]( What’s drawing employees to new jobs? Greater work-life balance, well-being, and roles that bring out their best. The parts that make work personal. It makes sense: careers can sometimes feel like a predefined path… but at [biopharma firm Sanofi](, they’re anything but. Making progress personal Need more flexibility to make work work for you? From hybrid working policies to 14-week gender-neutral parental leave, work fits around life at Sanofi. Got a hunch you’d do well in a different department? Take on a short-term project with [Sanofi’s gig program]( to nurture the full scope of your talents, and play your part in progress across the organization. As a small French enterprise turned global biopharma company, [reinvention is in Sanofi’s DNA](. That starts with people. See how Sanofi allows you to grow. [🌱 Push the boundaries of progress, with careers at Sanofi.]( [🌱 Push the boundaries of progress, with careers at Sanofi.](   Leaders of BRICS, a group of the world’s emerging economies, are attending the [group’s 16th summit this week](, hosted by Russian President Vladimir Putin in Kazan, a city in southwest Russia. This year, 36 countries are participating in the 3-day conference, as the group has expanded widely beyond its founding members — Brazil, Russia, India, China, and South Africa — to become a global economic force. It newest members are Egypt, Ethiopia, Iran and the United Arab Emirates. An upside down world The group, which often presents itself as a counterweight to the Western-dominated world order, now accounts for more than one-third of global economic output (PPP adjusted) — a figure that’s only expected to rise in the coming years. The ascendence of the BRICS has been well telegraphed, with the term originally coined by a Goldman Sachs economist way back in 2001, but the group didn’t officially meet at a summit until 2009. By the end of the decade, BRICS’ share of global GDP is expected to rise to nearly 40%. With the International Criminal Court’s arrest warrant of Putin in the background, this year’s meeting feels particularly pointed — a show to prove to the West that Russia isn’t isolated, despite the widespread condemnation of its invasion of Ukraine. So, what do the BRICS want? Although the group’s actual structure is informal, one of the group’s key goals is de-dollarization, or pivoting away from the US dollar as the main currency for international trade. For countries that are heavily subjected to tough Western economic sanctions, like China and Russia, this would help capital flow free of US pressure and influence. So far, practical changes have been [relatively insignificant](: China now has an alternative to the SWIFT payment system (though it’s lightly used) and some countries have switched their currency reserves from dollars to gold. [Read this on the web instead](   More Data - Clipped wings: Boeing [just reported]( a $6 billion quarterly loss. - Walmart’s new drug delivery service will start in the US early next year, with the retail giant looking to [deliver prescriptions]( in as little as 30 minutes. - The rats are going to absolutely love this announcement… for the 10th year in a row, Chicago has been crowned America’s [“rattiest city”](. - Embrace yourselves: One New Zealand airport is capping time spent saying goodbye by implementing a [maximum hug time]( of 3 mins (“fonder farewells” can still be had in the car park, where the limit is 15 mins). American workers consider work-life balance and doing what they do best the most important attributes in a new job, [per Gallup](. Biopharma firm Sanofi offers just that through ‘gigs’ — [discover the industry-leading program here](. Ad   Hi-Viz - With fall now in full force, [Axios]( maps when and where to see peak foliage across America. Off the charts: Which state saw the largest influx of new residents moving in last year, according to the US Census Bureau? [Answer here.](   Thanks for stopping by! Have some [feedback](mailto:daily@chartr.co?subject=Feedback&body=Hi, I like the newsletters, but I had a thought for you...) or want to [sponsor this newsletter](mailto:advertising@sherwoodmedia.com?subject=I’m interested in advertising with Sherwood Media)?   Not a subscriber? Sign up for free below. [Subscribe](   Advertiser’s disclosures:   [X]( [Instagram]( [Chartr Logo]( Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... 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