Latest news with #McDonald'sCorp.
Mint
13-05-2025
- Business
- Mint
McDonald's on hiring spree? Burger chain to look for 375,000 US workers this summer
McDonald's Corp. and its franchisees plan to recruit as many as 375,000 workers across the US this summer in what the burger chain says is its biggest hiring spree in years. The Big Mac seller is gearing up to serve more customers as the weather warms up and the company expands, according to an announcement Monday. McDonald's said in 2023 that it would open 900 US locations over the following four years. The positions aren't intended to be seasonal or temporary. Roughly 800,000 people work at McDonald's restaurants. About 95% of the chain's more than 13,500 US locations are franchised, meaning they're run independently by operators who hire their own staff and set wages. The hiring announcement follows a disappointing first quarter for McDonald's, with executives pointing to consumer economic distress. Third-party data suggest that US trends have improved in April, thanks in part to the launch of a limited-time Minecraft meal. McDonald's estimates that about one in eight Americans have worked for the chain. More than 90,000 have gone through the Archways to Opportunity program, which offers assistance with college tuition and other types of training, since it launched 10 years ago. The chain made the hiring announcement in a press conference alongside US Labor Secretary Lori Chavez-DeRemer, who said McDonald's program aligns with President Donald Trump's goal to upskill workers. The president has a goal of having 1 million active apprentices, she said. The US restaurant industry employs more than 12.3 million people, a figure that recently rebounded to pre-pandemic levels. Disclaimer: This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.
Boston Globe
12-05-2025
- Business
- Boston Globe
Stock markets surge Monday on signs of a trade truce between US and China
Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up FAST FOOD Advertisement McDonald's plans summertime hiring binge McDonald's Corp. and its franchisees plan to recruit as many as 375,000 workers across the United States this summer in what the burger chain says is its biggest hiring spree in years. The Big Mac seller is gearing up to serve more customers as the weather warms up and the company expands, according to an announcement Monday. McDonald's said in 2023 that it would open 900 US locations over the following four years. The positions aren't intended to be seasonal or temporary. Roughly 800,000 people work at McDonald's restaurants. About 95 percent of the chain's more than 13,500 US locations are franchised, meaning they're run independently by operators who hire their own staff and set wages. The hiring announcement follows a disappointing first quarter for McDonald's, with executives pointing to consumer economic distress. Third-party data suggest that US trends have improved in April, thanks in part to the launch of a limited-time Minecraft meal. McDonald's estimates that about one in eight Americans have worked for the chain. — BLOOMBERG NEWS Advertisement AIR TRAVEL Flying through Newark? Keep waiting Most flights destined for Newark Liberty International Airport in New Jersey were being delayed at their origin airports by more than an hour and 40 minutes Monday because of a shortfall in air traffic control staffing. The Federal Aviation Administration said in an advisory that it was delaying the incoming flights from all US airports and some in Canada. The agency did not immediately respond to a request for comment. Limited staffing, software and hardware problems, and runway construction have caused sometimes lengthy delays at Newark in recent weeks. While incoming flights were being held, few flights to or from Newark had been canceled, according to FlightAware, a flight tracking firm. Delays can have cascading effects on flights around the world. Monday's delay is the latest in a string of setbacks for Newark, one of the nation's busiest airports and a large hub for United Airlines. On Friday, an air traffic control facility that guides planes at the airport had a brief radar outage. A similar outage earlier in the month had left controllers unable to communicate with pilots for about 90 seconds. The Trump administration has also promised to install new fiber-optic cables connecting the airport and the facility, which was recently moved from Long Island in New York to Philadelphia. — NEW YORK TIMES Advertisement FUND-RAISING US clean-tech firms are eyeing the exits, expert says Clean-tech companies that were eligible for support under former president Joe Biden are now considering leaving the United States as the Trump administration pulls the plug on financing, according to the former head of the program that vetted the firms. As director of the Loans Programs Office at the US Department of Energy when Biden was president, Jigar Shah helped select roughly 400 companies with development plans to receive grants and loans upwards of $100 million each. Shah, who last year was included in Time magazine's list of the most influential people for his contribution to advancing the clean-energy transition, said that since the inauguration of Donald Trump in January, many of the companies that benefited from Biden-era programs are now looking to shift all or part of their business outside the United States. Against that backdrop, Shah said in an interview that he's been talking to officials in Brussels about re-domiciling companies in Europe. About two-thirds of the businesses are currently headquartered in the United States, he said. Among clean-tech industries represented are nuclear power generation, suppliers for heat pumps and batteries, carbon capture and storage, and hydrogen. — BLOOMBERG NEWS ECONOMY N.Y. wind farm developer gets no help from White House visit, may kill project Equinor ASA got no new signals that the Trump administration would reconsider the halt imposed on the Empire Wind project when its CEO met with a top White House official last week. Now the company must decide whether it will kill the project. 'If no progress is made within days, Equinor will be forced to terminate the project,' Molly Morris, president of Equinor Renewables Americas, said Monday. 'We are still fighting every day to find a resolution.' That came after there was no indication of a change in stance from US officials when the Norwegian oil and gas company's chief executive Anders Opedal and other top officials met with US National Economic Council Director Kevin Hassett on May 6, spokesperson Magnus Eidsvold said Monday. A termination would cause the company to lose much of its $2.7 billion investment on the project. 'It would be a direct impact to Equinor and our balance sheet,' Morris said. The $5 billion project was halted in April when Interior Secretary Doug Burgum said the Biden administration had rushed its approvals. Empire 1 was fully-permitted and slated to start commercial operation in 2027. Its 54 turbines were designed to power 500,000 homes. The halt on Empire is bigger than Equinor or even offshore wind, Morris said. 'It's about honoring contracts and financial investments made in the US,' she said. 'They are setting a dangerous precedent by stopping a project in mid-execution.' — BLOOMBERG NEWS Advertisement TECHNOLOGY Trump, Apple CEO Cook speak as phonemaker weighs first major price hike since 2017. President Trump said he spoke with Apple Inc. chief executive Tim Cook on Monday, just as the iPhone maker was reported to be considering price increases later this year. Apple is weighing whether to raise prices for an iPhone lineup coming in the fall, the Wall Street Journal reported, citing people familiar with the matter whom it didn't identify. The company is exploring whether to 'couple' price increases with new features and designs, while trying to avoid the perception that any hikes are tied to US tariffs, the Journal reported. Apple didn't respond to Bloomberg's request for comment. A few hours after the Journal report, Trump said he had spoken to Cook. He didn't address the potential price increases, instead focusing on how he thinks the company will end up raising its US spending plan beyond the $500 billion that it had pledged in February. 'He's going to be building a lot of plants in the US for Apple,' Trump said. Consumers and analysts have been bracing for Apple price increases for more than a month. Apple hasn't changed the starting price of its flagship iPhone model since it debuted the iPhone X in 2017 — keeping it at $999. — BLOOMBERG NEWS Advertisement
Mint
08-05-2025
- Business
- Mint
Sweetgreen Cuts Guidance in Latest Sign of Restaurant Weakness
(Bloomberg) -- Sweetgreen Inc. cut its annual guidance — another sign that US restaurant spending is softening. The company now expects sales at established locations to be flat this year, down from a prior forecast of growth between 1% and 3%. It also lowered revenue expectations, as well as adjusted earnings excluding items such as interest and taxes, according to a statement Thursday. The shares fell 7.3% at 4:30 p.m. in late trading in New York. Same-store sales fell 3.1% in the first quarter, less than the 3.5% decline that was projected by analysts polled by Bloomberg. The chain cautioned in February that sales at established restaurants would drop as much as 5% due in part to extreme weather and the fires in Los Angeles, which generates 15% of the company's revenue. Its warning came just as President Donald Trump's trade war was sparking a slump in consumer confidence. Restaurants such as McDonald's Corp., Wendy's Co. and Chipotle Mexican Grill Inc. have posted weak results tied to the economic malaise. Sweetgreen's plan to bring in consumers during the first quarter included a ranch-forward lineup with higher protein and no seed oils, which US health secretary Robert F. Kennedy Jr. has decried as unhealthful despite limited evidence. It also introduced airfried fries, likely helping lift traffic in early March, according to an analysis of mobility data by Morgan Stanley analyst Brian Harbour. Since then, it's launched a revamped loyalty program and a new Korean-inspired menu, in line with a strategy to offer more novelty to frequent customers. Still, Harbour is cautious on the chain in a tough economic environment given it's higher-priced than peers and because of its popularity as an office lunch concept, he wrote in a note ahead of earnings. More stories like this are available on
Bloomberg
29-04-2025
- Business
- Bloomberg
McDonald's, Coca-Cola Still See Risks to Operating in Russia
McDonald's Corp. and Coca-Cola Co. said they continue to see risks to operating in Russia, a signal that major US firms remain cautious about business investments in the country. The companies outlined their positions in letters to the Ukrainian advocacy group B4UKraine Coalition that were seen by Bloomberg News. In its letter, McDonald's said the company is sticking to the framework of five questions it used to decide to exit Russia in 2022 after the country's invasion of Ukraine.
Bloomberg
17-03-2025
- Business
- Bloomberg
How to Make Billions Selling $1 Lemonade
One can become a billionaire selling ice cream, lemonade and fruit smoothies — all for less than $1. Zhang Hongchao and Zhang Hongfu, two brothers who founded China's largest freshly made drinks chain, are making a fortune by taking advantage of China's fast-shifting labor dynamics. Mixue Group's blockbuster HK$3.5 billion ($444 million) public listing is a marvel for a difficult food and beverage industry where even the likes of Starbucks Corp. and McDonald's Corp. are revamping their operations. With its share price surging, the Zhang brothers are now richer than Starbucks' founder Howard Schultz.
