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☆ McDonald’s is working to introduce a $5 value meal
▼ + stars: | 2024-05-10 | by ( Kate Rogers | ) www.cnbc.com time to read: +2 min

McDonald's is working to introduce a value meal in U.S. stores to help offset an increasingly challenging environment for consumers, two people familiar with the matter told CNBC. The value meal was first reported by Bloomberg News. The potential new offering comes at a time when low-income consumers are beginning to pull back on spending, particularly at fast-food brands. Mentions of low-income consumers on company earnings calls are at their highest levels in nearly two years, according to data from Bank of America. An initial proposal by McDonald's for the $5 value meal did not clear necessary hurdles, and additional details are now being discussed, according to a person familiar with the process.

Persons: McDonald's, Dave, Buster's, Chris Kempczinski, Kempczinski, Ian Borden, — CNBC's Amelia Lucas Organizations: CNBC, Bloomberg News, Bank of America, McDonald's, U.S Locations: U.S

☆ Franchisees say it's them, not big corporations, who are the real losers of California's $20 fast-food wage
▼ + stars: | 2024-04-15 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

Restaurant franchisees say they're the real losers of California's $20 fast-food minimum wage. AdvertisementFranchisees say they have to bear the brunt of California's new $20 minimum wage for fast-food workers. But the $20 wage applies to both corporate-owned and franchise restaurants, even if the franchisee just owns one or two restaurants. She added that the new $20 wage felt like an "unfair target on our backs." "You're going to have to have the mega owners as they're called, or 20 stores, a hundred stores, 500 outlets.

Persons: —, Keith Miller, Brian Hom, We're, Hom, Miller, he'd, Mike Mangoine, Jessica D'Ambre, D'Ambre, Matthew Haller, Burger King, they're Organizations: Service, Business, Subway, McDonald's Corporation, Los Angeles Times, Times, International Franchise Association, Taco Bell Locations: California, San Jose , California, Los Angeles, Inland, Burger, McDonald's

☆ McDonald's will buy all 225 restaurants from Israel franchise following pro-Palestinian boycott fallout
▼ + stars: | 2024-04-05 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

McDonald's signed a deal to purchase all 225 of the restaurants that comprise its Israel franchise, the American fast-food chain announced, following months of dramatically lower sales due to pro-Palestinian boycott action amid the Israel-Hamas war. "An agreement to sell Alonyal to McDonald's Corporation has been signed," the McDonald's statement said Thursday. "Upon completion of the transaction, McDonald's Corporation will own Alonyal Limited's restaurants and operations, and employees will be retained on equivalent terms." "We are dismayed by the disinformation and inaccurate reports regarding our position in response to the conflict in the Middle East," McDonald's Corp. said in a November statement. "McDonald's Corporation is not funding or supporting any governments involved in this conflict, and any actions from our local Developmental Licensee business partners were made independently without McDonalds' content or approval."

Persons: McDonald's, Omri Padan, Israel —, —, Chris Kempczinski Organizations: Israel, Alonyal Ltd, McDonald's Corporation, McDonald's, Consumers, Gaza, enclave's Health Ministry, World Health Organization, McDonalds Locations: Israel, East, Malaysia, Indonesia

☆ Photos show what it was like to eat at McDonald's in the 1980s
▼ + stars: | 2024-04-03 | by ( Erin Mcdowell | ) www.businessinsider.com time to read: +1 min

The first McDonald's franchise opened in Des Plaines, Illinois, on April 15, 1955. Motorhead and President Ronald Reagan were photographed eating at McDonald's in the 1980s. AdvertisementBy the 1980s, McDonald's was already a well-established fast-food chain with an iconic menu and signature branding. Ray Kroc opened the first McDonald's franchise location in Des Plaines, Illinois, on April 15, 1955. Here's what it was like to eat at McDonald's in the 1980s.

Persons: Ronald Reagan, —, McDonald's, Ray Kroc Organizations: Service, Inc, Corporation, Deseret Locations: Des Plaines , Illinois

Starting Monday, fast-food workers in California at chains with more than 60 national locations earn $20 an hour, higher than the state's broader minimum wage of $16 per hour. California pay is already highwatch nowWhile the new fast-food minimum wage is among the highest in the U.S., California employers are used to paying more for their labor. Even when it is not mandated, restaurants usually find themselves paying more than the minimum wage to attract hourly workers. As a full-service restaurant chain, the company won't be obligated to pay its California workers $20 an hour. Advocates prepare to go biggerFrom start to finish, the California law, which was backed by the Service Employees International Union, has been controversial.

Persons: David Paul Morris, Gavin Newsom, Matthew Haller, Daniel Zhao, Zhao, Lauren Crabbe, she's, Crabbe, Matthew Clark, Jennifer B, Perez, I'm, it's, Newsom, Greg Flynn, Flynn Organizations: McDonald's Corp, Bloomberg, Getty, International Franchise Association, CNBC, Bureau of Labor Statistics, Service Employees International Union, Gov, SEIU Locations: Oakland , California, U.S, California, , California, Fresno, San Francisco, Long Beach

☆ Domino's pizza is the latest American product facing backlash in Asia amid the Middle East turmoil, exec says
▼ + stars: | 2024-01-26 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Read previewDomino's Pizza is the latest American brand to face blowback as some consumers change their buying habits in light of Israel's invasion of Gaza. Domino's Pizza Enterprises, a franchisee of the US company that operates Domino's restaurants in Australia, Europe, and Asia, said same-store sales in Asia fell an estimated 8.9% in the second half of 2023. Domino's Pizza Enterprises also operates in countries including Singapore, Japan and Taiwan. Spokespeople for Domino's Pizza Enterprises and Procter & Gamble did not immediately respond to Business Insider's request for additional comment. In an investor presentation last month, Unilever CEO Hein Schumacher said that some of its brands in Indonesia have been affected by "the wars in the Middle East."

Persons: —, America —, Donald Meij, Domino's, Gamble, McDonald's hasn't, Ian Borden, Borden, Hein Schumacher Organizations: Service, Business, Pizza Enterprises, Enterprises, Palestine, CNN, Israel, Procter & Gamble, Bloomberg, Starbucks, Domino's Pizza Enterprises, Procter, Reuters, Unilever Locations: Gaza, Australia, Europe, Asia, Malaysia, Singapore, Japan, Taiwan, Israel, Indonesia, Pakistan, pushback, Egypt, Jordan, London

☆ McDonald's investor day is Wednesday. Expect to hear about expansion, tech and China
▼ + stars: | 2023-12-05 | by ( Amelia Lucas | ) www.cnbc.com time to read: +5 min

The company also projected mid-single-digit sales growth in 2021 and 2022. McDonalds is a multinational fast food chain with thousands or restaurants over the world with headquarters in Chicago Illinois. It is the world's largest fast food restaurant chain famous for the burgers and fries. While the U.S. may seem saturated with McDonald's locations, executives have said that its current footprint doesn't reflect where consumers currently live, including the shift to the South and Southeast. Some McDonald's locations have also tested using artificial intelligence to take drive-thru orders.

Persons: Luke Sharrett, McDonald's, aren't, Chris Kempczinski, Nicolas Economou, remodels, Kempczinski Organizations: McDonald's Corp, Bloomberg, Getty, Wall Street, McDonalds, Nurphoto, Technology Locations: Louisville , Kentucky, U.S, New York City, USA, Chicago Illinois, Manhattan , New York, Texas, Canada, Germany, Australia, France, China

☆ Exclusive: Activist investor Blackwells plans Wendy's board challenge -sources
▼ + stars: | 2023-12-01 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

Blackwells, run by Jason Aintabi, plans to nominate several directors to Wendy's 12-member board, said the sources, who asked not to be identified discussing confidential deliberations. It made no mention of any plans to challenge the Wendy's board. Wendy's reported adjusted third-quarter earnings per share of 27 cents last month, beating analysts' average estimate of 25 cents. Yet it posted same-restaurant sales growth of 2.8% globally and 2.2% for the United States that were lower than a year ago. In third quarter of 2022, Wendy's had reported global same-restaurant sales growth of 6.9% and U.S. same-restaurant sales growth of 6.4%.

Persons: Burger, Mario Anzuoni, Wendy's, Jason Aintabi, Nelson Peltz, Peter May, Matthew Peltz, Blackwells, Trian, Bob Iger, Peltz, Matthew H, McDonald's, Aintabi, John Foley, Foley, Svea Herbst, Bayliss, Chizu Nomiyama, Kirsten Donovan Organizations: Trian Fund Management, Walt Disney Co, Disney, Restaurant, International Inc, Burger, Interactive, Svea, Thomson Locations: Monrovia , California, North America, Wendy's, Dublin , Ohio, New York, United States, Rhode Island

All have been hit by a boycott campaign over Israel's military offensive in the Gaza Strip since the deadly Hamas attack in southern Israel on Oct. 7. Western brands are feeling the impact in Egypt and Jordan, and there are signs the campaign is spreading in some other Arab countries including Kuwait and Morocco. Videos have circulated of what appear to be Israeli troops washing clothes with well-known detergent brands which viewers are urged to boycott. In Kuwait City on Tuesday evening, a tour of seven branches of Starbucks, McDonald's and KFC found them nearly empty. Previous boycott campaigns in Egypt, the Arab world's most populous nation, had less impact, including those advocated by the Palestinian-led Boycott, Divestment, Sanctions (BDS) movement.

Persons: Mohamed Abd, Reham Hamed, Ahmad al, McDonald's, Jordan, Hossam Mahmoud, Sameh El Sadat, executive's, Issam Abu Shalaby, Farah Saafan, Sarah El Safty, Mai ShamsElDin, Suleiman Al, Ahmed Hagagy, Jonathan Spicer, Aidan Lewis Organizations: Hamas, REUTERS, Gaza, U.S, Kuwait City, McDonald's, KFC, McDonald's Corp, Reuters, BDS, Starbucks, TBS Holding, Malaysian, Cola, Nestle, Turkish, Israel, United Arab, Thomson Locations: Kentucky, Egypt, Gaza, Israel, Palestinian, Cairo, CAIRO, Jordan, Kuwait, Morocco, Amman, Rabat, BDS Egypt, Egyptian, Malaysia, Putrajaya, Saudi Arabia, United Arab Emirates, Tunisia, Khalidi, Danial Azhar, Kuala Lumpur, Kuwait City, Istanbul

The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. The SEC has been seen to be increasingly aggressive in policing markets under Gensler. Last year's enforcement activity included a series of high-profile cases against crypto firms and executives including FTX founder Sam Bankman-Fried and Binance founder Changpeng Zhao. The SEC also barred 133 individuals from serving as directors and officers, the highest in a decade, Gensler said. The agency is expected to publish its full enforcement report sometime next month.

Persons: Andrew Kelly, Gary Gensler, Gensler's, Sam Bankman, Changpeng Zhao, Gensler, Chris Prentice, Jonathan Oatis Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Rights, SEC, Gensler, McDonald's Corp, Thomson Locations: Washington ,

☆ A lower-risk way to bet on a comeback by this consumer blue chip using options
▼ + stars: | 2023-10-17 | by ( Tony Zhang | ) www.cnbc.com time to read: +3 min

As consumers continue to remain selective with their spending and cracks start to show within the consumer discretionary sector, one name that is worth paying attention to is McDonald's (MCD) . As a trader, one could look at McDonald's stock and see that the trends are bearish with negative momentum. MCD 3M mountain MCD 3 months But I prefer to view this from a contrarian perspective. (The chart above shows the Commodity Channel Index indicator in the lower panel, which looks at the current stock price vs. its historical average price and is used by technical analysts to determine a trend change.) BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: Zhang

☆ Free meals for Israeli soldiers divide McDonald's franchises over Israel-Hamas war
▼ + stars: | 2023-10-17 | by ( Pesha Magid | ) www.reuters.com time to read: +2 min

RIYADH, Oct 17 (Reuters) - McDonald's (MCD.N) franchises in some Muslim countries disavowed a move by the company's Israeli restaurants to give free meals to the Israeli military, highlighting the polarized regional politics that global corporations navigate during war. McDonald's Israel said on its social media accounts last week that it has given thousands of free meals to Israel Defense Forces personnel. McDonald's Israel is owned by Alonyal Ltd, according to a company statement. We affirm that it was an individual decision on their part," McDonald's franchise in Saudi Arabia said in a statement. "Neither global McDonald's nor us nor any other country had a role or relationship with that decision, neither directly nor indirectly."

Persons: McDonald's Israel, Hadeel Al Sayegh, Rod Nickel Organizations: Israel Defense Forces, Hamas, Alonyal Ltd, United Arab, McDonald's Corp, U.S ., Thomson Locations: RIYADH, Gaza, McDonald's Israel, U.S, Saudi Arabia, Oman, Kuwait, United Arab Emirates, Jordan, Turkey, Israel

☆ McDonald's caught up in Israel-Hamas war as franchisees in the Middle East pledge aid to different sides
▼ + stars: | 2023-10-16 | by ( Nancy Luna | ) www.businessinsider.com time to read: +3 min

Last week, McDonald's Israel began donating meals daily to the Israel Defence Forces. Two days later, McDonald's Oman said it had donated $100,000 to help the people of Gaza. "We stand with Gaza in these difficult times," McDonald's Oman said in a statement posted on X, formerly known as Twitter. Meanwhile, McDonald's Israel said it will continue donating thousands of meals daily to "our forces across the country." As the two McDonald's franchise groups back different sides of the Israel-Hamas war, McDonald's Pakistan weighed in by distancing itself from McDonald's Israel.

Persons: McDonald's Israel, McDonald's, —, Al Daud, Benjamin Netanyahu Organizations: Israel Defence Forces, Service, McDonald's, SIZA Foods, . Ltd ., McDonald's Corp Locations: McDonald's Oman, Gaza, Israel, Oman, Pakistan, . Ltd . Pakistan, Chicago

REUTERS/Joshua Roberts/File Photo Acquire Licensing RightsNEW YORK, Oct 2 (Reuters) - McDonald's (MCD.N) and Wendy's (WEN.O) have defeated a lawsuit accusing them of deceiving hungry diners by exaggerating the size of their burgers. Chimienti, a resident of Long Island's Suffolk County, said McDonald's and Wendy's ads depicted undercooked beef patties because meat shrinks 25% when cooked. The complaint quoted a food stylist who said she had worked for McDonald's and Wendy's, and preferred undercooked patties because fully-cooked burgers looked "less appetizing." He said McDonald's and Wendy's were not legally obligated to sell burgers by advertising them, and that their websites provided "prominent, objective information" about the burgers' weight and caloric content. McDonald's, Wendy's and their lawyers did not immediately respond to similar requests.

Persons: Joshua Roberts, Hector Gonzalez, Justin Chimienti, Wendy's Bourbon Bacon Cheeseburger, McDonald's, Chimienti, Wendy's, Gonzalez, Burger King, Taco Bell, Jonathan Stempel, David Gregorio 私たち Organizations: McDonald's Corp, REUTERS, District, Mac, McDonald's, Burger, Restaurant Brands, Yum Brands, Wendy's, Court, Eastern District of Locations: Arlington , Virginia, U.S, Brooklyn, Long Island's Suffolk County, Miami, Eastern District, Eastern District of New York, New York

☆ McDonald's to raise royalty fees for new US restaurant operators
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

The logo for McDonald's restaurant is seen as McDonald's Corp. reports fourth quarter earnings, in Arlington, Virginia, U.S., January 27, 2022. REUTERS/Joshua Roberts Acquire Licensing RightsSept 22 (Reuters) - McDonald's (MCD.N) is raising royalty fees for new U.S. franchise operators for the first time in nearly three decades, according to an internal letter viewed by Reuters. The burger giant is raising the fees that franchise owners pay for the brand to 5% from 4%, starting Jan. 1, for any new restaurants they open. It will also change the term for payments in the U.S. from "service fees" to "royalty fees", used by all other McDonald's markets around the world. Royalty is a fee paid by restaurant operators to the owner and the rate is set based on the revenue generated by the licensed property.

Persons: Joshua Roberts, Savyata Mishra, Ananya Mariam Rajesh, Shilpi Majumdar Organizations: McDonald's Corp, REUTERS, U.S ., Reuters, Thomson Locations: Arlington , Virginia, U.S, United States, Bengaluru

☆ McDonald's to raise royalty fees for new franchise restaurants in US, Canada
▼ + stars: | 2023-09-22 | by ( Savyata Mishra | ) www.reuters.com time to read: +2 min

The logo for McDonald's restaurant is seen as McDonald's Corp. reports fourth quarter earnings, in Arlington, Virginia, U.S., January 27, 2022. REUTERS/Joshua Roberts Acquire Licensing RightsSept 22 (Reuters) - McDonald's (MCD.N) is raising royalty fees for new franchise restaurants in the U.S. and Canada for the first time in nearly three decades, according to a letter viewed by Reuters on Friday, bringing them on par with what it charges in other markets. Northcoast Research analyst Jim Sanderson, however, said the impact of the rate increase on McDonald's revenue would be "very limited", since there are very few new stores opening in the United States. The company will also change the term for payments from "service fees" to "royalty fees", used by all other McDonald's markets around the world. Royalty is a fee paid by restaurant operators to the owner and the rate is set based on the revenue generated by the licensed property.

Persons: Joshua Roberts, Jim Sanderson, Savyata Mishra, Ananya Mariam Rajesh, Granth, Shilpi Majumdar Organizations: McDonald's Corp, REUTERS, Reuters, Northcoast, Thomson Locations: Arlington , Virginia, U.S, Canada, United States, Bengaluru

☆ Trustar plans to raise fund to manage McDonald’s China stake -sources
▼ + stars: | 2023-08-28 | by ( Kane Wu | ) www.reuters.com time to read: +3 min

HONG KONG, Aug 28 (Reuters) - Chinese private equity firm Trustar Capital is planning to raise a so-called continuation fund that would allow it to sell down its stake in McDonald's China, two sources with knowledge of the matter said. That plan would be achieved by Trustar, formerly known as CITIC Capital, transferring some equity interest in McDonald's China from its private equity (PE) fund into the continuation fund, a new investment vehicle that would manage the asset. Currently, Trustar owns 42% of the business, while Carlyle and CITIC own 28% and 10% respectively, according to McDonald's China. Carlyle has also been considering options for its stake in McDonald's China, including setting up a continuation fund, Reuters has reported. "McDonald's China will continue to leverage the capital and other resources from CITIC (Trustar), Carlyle, and McDonald's Corp to achieve the future milestone of 10,000 stores," said McDonald's China.

Persons: Trustar, Mubadala, Carlyle, CITIC, Kane Wu, Yantoultra Ngui, Sophie Yu, Sumeet Chatterjee, Mark Potter Organizations: Trustar, Trustar's PE, McDonald's Corp, CITIC, HK, Carlyle Group, Reuters, Bloomberg, Thomson Locations: HONG KONG, McDonald's China, China, Trustar's, Abu, Chicago, CITIC, Hong Kong, Singapore, Beijing

The logo for McDonald's restaurant is seen as McDonald's Corp. reports fourth quarter earnings, in Arlington, Virginia, U.S., January 27, 2022. Circuit Judge Frank Easterbrook wrote that those questions "can’t be answered by observing that any given franchise contract, viewed by itself, expands the output of food." Two former McDonald's workers were appealing a 2022 ruling by U.S. District Judge Jorge Alonso in Chicago dismissing claims the agreements stifled competition and depressed their wages. McDonald's in court filings has said it stopped requiring franchisees to sign no-poach agreements in 2017. The 7th Circuit on Friday also said the district court judge should rethink his ruling declining to certify a nationwide class in the lawsuit.

Persons: Joshua Roberts, Frank Easterbrook, can’t, McDonald's, Jorge Alonso, Biden, Daniel Wiessner, Mark Potter Organizations: McDonald's Corp, REUTERS, U.S, Circuit, Appeals, District, Democratic, D.C, Thomson Locations: Arlington , Virginia, U.S, Chicago, United States, Washington, Albany , New York

Jenkins denied a motion by McDonald's and Kempczinski to dismiss Peaster's race discrimination and retaliation claims. The judge did dismiss claims that McDonald's had created a hostile work environment and intentionally caused Peaster emotional distress. Carmen Caruso, a lawyer for Peaster, said he looks forward to bringing the surviving claims to trial. At a 2021 meeting at McDonald's corporate headquarters, Peaster, the company's vice president of global safety, security, and intelligence, said Kempczinski's response to the incident had been insufficient. Peaster claims that following the meeting, Kempczinski and other executives retaliated against him by refusing to meet with him and making it impossible for him to do his job.

Persons: Chris Kempczinski, District Judge Linsday Jenkins, Michael Peaster, Peaster, Jenkins, Kempczinski, McDonald's, Carmen Caruso, Lori Lightfoot, Daniel Wiessner, Alexia Garamfalvi, Bill Berkrot Organizations: McDonald's, McDonald's Corp, District, Chicago, Peaster, Thomson Locations: Chicago, U.S, Albany , New York

Ex-Trump chief of staff Mark Meadows and former Acting U.S. Attorney General Matthew Whitaker are board members. The complaints come as many experts expect an uptick in challenges to corporate diversity programs following a U.S. Supreme Court ruling in June that prohibited race-conscious college admissions policies. “There certainly is a deep psychological effect that is putting the brakes on the forward movement of diversity in the workplace,” Rossein said. America First has also filed lawsuits accusing Target Corp and Progressive Insurance of breaching their duties to shareholders by adopting diversity programs and progressive marketing campaigns, for instance celebrating LGBTQ Pride Month. Commissioner Andrea Lucas, a Trump appointee, filed a dozen charges last year, more than any of her colleagues.

Persons: Trump, Stephen Miller, Donald Trump's Mar, Jonathan Ernst, Activision's, Kellogg, Morgan Stanley, Donald Trump, Mark Meadows, Matthew Whitaker, Rick Rossein, ” Rossein, Hershey, Andrea Lucas, Lucas, Gene Hamilton, Daniel Wiessner, Alexia Garamfalvi, Daniel Wallis Organizations: REUTERS, Activision Blizzard Inc, Kellogg, U.S, Opportunity Commission, America, Starbucks Corp, McDonald's Corp, Anheuser, Busch Companies, Hershey Co, Republican, Trump, Supreme, City University of New York School of Law, Target Corp, Progressive Insurance, Activision, Democratic, Thomson Locations: Lago, Palm Beach , Florida, U.S, America, Albany , New York

☆ McDonald's China owners Carlyle, Trustar plan $4 bln exit - Bloomberg News
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +1 min

July 13 (Reuters) - Carlyle Group Inc (CG.O) and Trustar Capital are planning to raise $4 billion from wealth funds to buy part of their stakes in McDonald's Corp (MCD.N) operations in Hong Kong and mainland China, Bloomberg News reported. All stakeholders are highly aligned on the process," McDonald's China said in an emailed response to Reuters on Thursday. The asset managers aim to reach an agreement with investors in the fourth quarter of this year, the report added. Carlyle declined to comment, while GIC did not immediately respond to a Reuters request for comment. Reuters had reported in April citing two people with knowledge of the matter that the U.S.-based private equity firm was discussing various options including setting up a continuation fund with financial advisers for its stake in McDonald's China.

Persons: Carlyle, Mubadala, GIC, Shubhendu Deshmukh, Brenda Goh, Urvi, Rashmi Organizations: Carlyle Group Inc, Trustar, McDonald's Corp, Bloomberg News, Reuters, McDonald's, Shareholders, Mubadala Investment, GIC, Thomson Locations: Hong Kong, China, McDonald's China, U.S, Bengaluru

☆ Wealthy shoppers keep flocking to Aldi and dollar stores and say there's no longer any stigma, report says
▼ + stars: | 2023-06-20 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Wealthy shoppers are increasingly turning to discount stores like Aldi, Dollar Tree, and Dollar General. This is because of inflation, improved product quality, and changing attitudes to discount stores. Morgan Pierce, who The Journal reported earns about $200,000 a year working at McDonald's corporate office in Chicago, visits Aldi and dollar stores for staples. People who The Journal spoke to said that the idea of shopping at discount stores was no longer as stigmatized. Soaring inflation during 2021 and 2022 combined with better-quality budget products and a rising number of brand-agnostic shoppers have all helped to push wealthier shoppers to discount stores.

Persons: —, Morgan Pierce, I'm, Pierce, Rick Dreiling, Kelly Dilts, Bob Gillman, Bethenny Frankel, It's, Dreiling Organizations: Service, Wall Street, Aldi, Dollar, YouTube, Housewives, New Locations: Aldi, Chicago, New York City

☆ Russia's McDonald's heir growing quickly, in for the long haul
▼ + stars: | 2023-06-06 | by ( Olga Popova | ) www.reuters.com time to read: +2 min

McDonald's Corp (MCD.N) closed its Russian restaurants soon after Moscow sent tens of thousands of troops into Ukraine in February 2022, eventually selling to a local licensee, Alexander Govor. The chain has sold more than 24 million of its Big Mac replacement burgers, the Big Hit, CEO Oleg Paroev said. Hamstrung by agreements with McDonald's, Vkusno & tochka, can not open restaurants in countries where McDonald's already has a presence. Russian authorities and Govor have said McDonald's has an option to buy back its Russia restaurants within 15 years. It would find a market where Vkusno & tochka is the master franchisee should it do so.

Persons: Alexander Govor, Govor, Oleg Paroev, Natalya Fadeeva, Evgenia, I've, McDonald's, Olga Popova, Alexander Marrow, Sharon Singleton Organizations: McDonald's Corp, Reuters, REUTERS, Thomson Locations: Russia, Ukraine MOSCOW, Moscow, Ukraine, Russian, McDonald's, Belarus, Kazakhstan

☆ Byron Allen sues McDonald's for allegedly lying about commitment to Black media
▼ + stars: | 2023-05-08 | by ( Jonathan Stempel | ) www.reuters.com time to read: +3 min

[1/2] Byron Allen, Founder, Chairman and CEO of Entertainment Studios and Allen Media Group, speaks at the 2021 Milken Institute Global Conference in Beverly Hills, California, U.S., October 19, 2021. REUTERS/David SwansonMay 8 (Reuters) - The media entrepreneur Byron Allen has filed a second lawsuit against McDonald's Corp (MCD.N) over the fast-food chain's alleged refusal to advertise with Black-owned media. Allen said he would know if McDonald's were honoring that pledge because his Allen Media Group represents more than 90% of Black-owned media. The case are: Weather Group LLC et al v. McDonald's USA LLC, California Superior Court, Los Angeles County, No. 23STCV10045; and Entertainment Studios Networks Inc et al v McDonald's Corp, U.S. District Court, Central District of California, No.

May 3 (Reuters) - Carl Icahn's empire took another hit on Wednesday when his holding company's shares plunged further in the aftermath of a critical report from short seller Hindenburg Research, bringing the valuation drop since the short seller attacked it to more than $6 billion. IEP shares hit an intraday low of $31.78 - their lowest in more than a decade. The company is now worth $11.5 billion, 35% less than its value on Monday before Hindenburg published its report. The Hindenburg report has wiped $7.5 billion off Icahn's fortune, leaving him with a net worth of $10.8 billion, according to Forbes. “There is a karmic quality to this short report that reinforces the notion of a circle of life and death," he tweeted on Tuesday.

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