Menu price hikes and a new loyalty program helped McDonald’s Corp. beat estimates for quarterly sales and profit on Thursday, despite inflationary pressure on consumers, the war in Ukraine, and COVID-19 lockdowns in China. Shares of the Chicago-based company rose nearly 2 percent. Pinched by higher costs for gas, rent, and groceries, lower-income customers are…
McDonald’s Calls Icahn Demands on Sourcing Pigs Unfeasible, Expensive
BOSTON—McDonald’s Corp. on Thursday said Carl Icahn’s call for the fast food chain to stop buying pork from suppliers that house the animals in crates would be logistically unfeasible and prohibitively expensive. The billionaire investor, who owns roughly $50,000 worth of McDonald’s stock, is pushing the company to change how it sources its pork and…
McDonald’s Says Russia Store Closures to Cost $50 Million per Month
McDonald’s Corp. said on Wednesday the temporary closure of its 847 stores in Russia will cost the fast food chain about $50 million a month. The company said on Tuesday it would temporarily close all of its restaurants in Russia including its iconic Pushkin Square location, increasing pressure on other global brands to pause operations…
Police Arrest Woman Seen in Viral Video of Road Rage Assault at McDonald’s
The Richmond Police arrested a woman who had appeared in a viral video of a road rage incident, according to the Richmond Police Department. Bay Point resident Rhyan Hodge, 29, turned herself in on March 1 without incident and faces four felony and two misdemeanor charges, including felony assault with a deadly weapon. The incident…
Metaverse Related Trademark Applications Surge
An increasing number of big companies are filing trademark applications to protect their brands in the metaverse. They’re also looking to make money in this new realm by offering virtual goods and services. Victoria’s Secret, New York Stock Exchange, and McDonald’s are among the latest corporations to announce plans to join the metaverse. Nowadays, metaverse…
Large Companies Starting to Protect Their Brands in the Metaverse
An increasing number of big companies are filing trademark applications to protect their brands in the metaverse. They’re also looking to make money in this new realm by offering virtual goods and services. Victoria’s Secret, New York Stock Exchange, and McDonald’s are among the latest corporations to announce plans to join the metaverse. Nowadays, metaverse…
NY State Lifting Indoor Mask Mandate; Foreigners Pile Into U.S. Commercial Property | NTD Business
The state of New York lifting its “mask-or-vaccine” mandate for most indoor businesses today, what did the governor say is the reason? Amazon making a big move in the healthcare space, by expanding its tele-health services nationwide. What’s it good for? And what difficulty does one expert say the industry still faces? Foreign buyers piling into…
McDonald’s Ends 2021 Strong, but Rising Costs Ding Profit
McDonald’s ended 2021 on a high note with U.S. customers spending more and fewer restaurant closures in Europe from coronavirus restrictions. But higher costs for food and labor weighed on profits, and the company said it expects that pressure to continue this year. McDonald’s reported adjusted earnings of $2.23 per share, 11 cents short of…
Dogecoin Surges After Elon Musk Urges McDonald’s to Accept It as Payment
The price of Dogecoin rose on Tuesday after Elon Musk urged McDonald’s to start accepting the cryptocurrency as a form of payment, stating that he would “eat a happy meal” if the fast food restaurant company does so. “I will eat a happy meal on tv if Mcdonald’s accepts Dogecoin,” the chief executive of Tesla wrote on Twitter on…
McDonald’s Expands US Test of Beyond Meat ‘McPlant’ Burger
NEW YORK—McDonald’s Corp said on Thursday it will expand its U.S. test of a plant-based burger it created with vegan meat maker Beyond Meat Inc to about 600 locations next month. The restaurants—in San Francisco, California and Dallas-Forth Worth, Texas—will sell the so-called “McPlant” burger starting Feb. 14 for as long as supplies last in…
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