U.S. construction equipment maker Caterpillar Inc. plans to issue a 1 billion yuan, or $150 million, two-year bond issue in Hong Kong, people familiar with the situation said Wednesday, becoming the second non-financial multinational company to tap the city’s growing yuan-denominated bond market. Get the full story »
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McDonald’s raises menu prices in China
A woman walks out of a McDonald's outlet in Beijing Nov. 17, 2010. (Christina Hu/Reuters)
McDonald’s has raised menu prices in mainland China by 0.5 yuan to 1 yuan per item with immediate effect because of rising materials costs as the country grapples with accelerating food inflation.
McDonald’s, which has more than 1,000 outlets in China, was raising prices for the first time this year, while Yum! Brands, parent of KFC and Pizza Hut chains, had so far kept prices unchanged, the official Xinhua News Agency said.
“Because some materials prices have increased, we have adjusted menu prices accordingly,” a McDonald’s (China) Co. Ltd spokeswoman said. Get the full story »
McDonald’s raises some prices in China
McDonald’s Corp. said it raised prices of some food items sold at its China outlets 7 to 15 cents per item effective Wednesday because of higher costs, which come amid growing concerns about spiralling inflation.
The increase “is because of higher raw material prices and we’ve adjusted our prices accordingly,” said Sophia Luan, vice president of corporate affairs and communications at McDonald’s China. Get the full story »
San Francisco mayor vetoes kids’ meal toy ban
San Francisco’s mayor has vetoed legislation that would ban toys from fast-food children’s meals, though it’s still expected to become law.
Get the full story »
New Wendy’s fries target foodies with skins, sea salt
Wendy's new fries. (Wendy's)
With an eye toward appealing to foodies, Wendy’s is remaking its fries with Russett potatoes, leaving the skin on and sprinkling sea salt on top as it changes its menu to focus on “real” ingredients to win more fans.
The first move in the strategy was a new line of salads such as Apple Pecan Chicken in the summer. Now, the fries, which first appear on Thursday and roll out over the next two weeks. This is the first major overhaul of the 41-year-old company’s fries, although it has adjusted the recipe in the past. Get the full story »
San Francisco bans toys in some fast-food meals
San Francisco has become the first major American city to prohibit fast-food restaurants from including toys with children’s meals that do not meet nutritional guidelines.
The city’s Board of Supervisors voted 8-3 in favor of the measure Tuesday after giving it preliminary approval last week. That’s enough votes to survive a likely veto by Mayor Gavin Newsom.
Nov. 3, 2010 at 11:24 a.m.
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Filed under: Food, Hotels, Personnel moves, Restaurants, Retail, Updated McDonald’s European chief to run Accor Hotels
McDonald’s announced today that European president Denis Hennequin will resign to become Chief Executive Officer of the Accor Hotel Group. His departure will be effective at the end of the month.
Before Don Thompson’s promotion to president and chief operating officer early this year, Hennequin was considered to be a dark horse candidate for the position, which is widely considered to be CEO-in-waiting. Jim Skinner, the current CEO, is 66.
“Denis’ leadership made a tangible difference in our key segment of Europe,” Skinner said in a statement. ”The European team’s dedication to our Plan to Win business strategy elevated the restaurant experience for our customers. We wish Denis well in his new role at Accor.” Get the full story »
San Francisco bans most Happy Meals
San Francisco’s board of supervisors has voted, by a veto-proof margin, to ban most of McDonald’s Happy Meals as they are now served in the restaurants.
The measure will make San Francisco the first major city in the country to forbid restaurants from offering a free toy with meals that contain more than set levels of calories, sugar and fat. Get the full story »
Election advice in McDonald’s franchise paychecks
An undetermined number of McDonald’s employees at a northeastern Ohio franchise received handbills in their most recent paychecks suggesting they vote for three Republican candidates.
The fast food chain’s corporate headquarters in Oak Brook quickly condemned the action by the Canton, Ohio, restaurant, saying it was not reflective of the company’s position. Get the full story »
Oct. 29, 2010 at 2:57 p.m.
Filed under: Associations/Clubs, Commercial real estate, Construction, Food, Real estate, Restaurants, Updated Daley urged to halt fast food restaurant construction
A group that lobbies against fast food and meat consumption will ask Mayor Richard Daley to temporarily stop fast food restaurant construction.
In a Nov. 4 letter shared with the Tribune, a director of nutrition at The Physicians Committee for Responsible Medicine writes that fast food consumption leads to obesity and heart disease.
“This step is urgently needed because Chicago’s high-fat, meat-heavy diets are literally breaking hearts,” Susan Levin, the director of nutrition, writes. “A moratorium on new fast-food restaurants could be a critically important step toward fighting this epidemic.” Get the full story »
McDonald’s plans to raise prices in 2011
McDonald’s Corp. plans to raise menu prices to blunt higher costs, including what would be its first such increase in the U.S. in more than a year — a time when the burger chain’s sales have thrived amid lower prices.
The company expects to increase prices in the U.S. and Europe amid projections that commodity costs will rise between 2 percent and 3 percent in 2011, Chief Financial Officer Peter Bensen said Thursday during a conference call after McDonald’s reported a 10 percent increase in third-quarter earnings and added that October sales appear strong. Get the full story »
McDonald’s shares hit all-time high on 3Q profit
A McDonald's restaurant in Bismark, N.D. (AFP/Karen Bleier)
McDonald’s shares hit an all-time high after the restaurant chain said its third-quarter profit surged 10 percent to $1.4 billion on growth in “all areas of the world.” Shares in McDonald’s were up 2.57 percent to $79.40 in morning trading on the New York Stock Exchange.
Comparable sales grew 6 percent worldwide, 5.3 percent in the U.S., 4.1 percent in Europe and Asia/Pacific, and 8.1 percent in the Middle East and Africa.
Earnings per share increased 12 percent to $1.29. Revenues were up 4 percent to $6.3 billion. Analysts polled by Thompson Reuters had been expecting $6.23 billion in revenues and earnings per share of $1.25. Get the full story »
Burger King to stick with 3G buyout offer
Burger King Holdings Inc .said it did not get any superior buyout offers during the “go-shop” period following its agreement to sell itself to investment firm 3G Capital for $3.26 billion.
The world’s second-largest hamburger chain had time until Oct. 12 to solicit a richer offer from other buyers. Get the full story »
Meet the tireless hunters of the McDonald’s McRib
McDonald's McRib sandwich. (McDonald's)
The elusiveness of McDonald’s McRib sandwich’s has created a fan base of people who go to considerable lengths to munch on one of the boneless pork patties. Ryan Dixon of Burbank, Calif., once drove 10 hours to Medford, Ore., after hearing a McDonald’s there was selling the sandwich.
McRibs, launched in 1981 are almost never available at all McDonald’s restaurants at the same time. Instead, the Oak Brook,, company offers them in different cities at different times, rarely for longer than a few weeks. Get the full story »
