McDonald’s has posted another bigger than expected drop in sales as demand continues to slow, despite attempts to lure customers back with value meals. Spending by consumers has been sluggish or falling across the US, Europe and China in recent months, with people weary from years of high food inflation looking for cheaper meal fixes…
Trading in the owner of Donald Trump’s Truth Social was suspended several times on Wall Street on Tuesday as extraordinary volatility engulfed shares in the tiny social media empire ahead of next week’s election. Trump Media & Technology Group (TMTG) rallied by 14% during early trading on Tuesday, before quickly reversing all its gains. By…
McDonald’s Chris Kempczinski speaks about fresh beef expansion at a McDonald’s event in Oak Brook, Illinois. Richa Naidu | Reuters A week after health authorities publicly linked a deadly E. coli outbreak to McDonald’s Quarter Pounder burgers, the company’s CEO, Chris Kempczinski, told investors that the situation is now behind them. “How we’ve handled the…
Demand for new home loans has risen to its highest level in more than two years as falling interest rates attract buyers back into the property market. Figures from the Bank of England showed mortgage approvals for new purchases rose by 700 to 65,600 in September – the fourth monthly increase in a row. The…
Passengers using London’s Euston railway station will be allowed to board some services early in an attempt to ease persistent overcrowding. Network Rail has said it would allow passengers to board about 40% of Avanti West Coast services from the station 20 minutes before departure. Avanti West Coast is the chief rail operator between London…
Lucid Gravity Grand Touring SUV Lucid Electric vehicle startup Lucid Group is counting on its upcoming Gravity SUV to assist the automaker in a “significant increase” in sales volumes to narrow the company’s losses, according to CEO Peter Rawlinson. The Gravity is Lucid’s second vehicle following the Air sedan, which the luxury EV manufacturer has…
Kena Betancur | Corbis News | Getty Images Pfizer on Tuesday reported third-quarter revenue and adjusted profit that blew past expectations as the company’s Covid vaccine and antiviral pill Paxlovid helped boost sales. The pharmaceutical giant also hiked its full-year outlook and now expects to book adjusted earnings per share of $2.75 to $2.95, up…
BP has reported its weakest quarterly profits in almost four years owing to the slump in global oil prices and falling margins in its refinery business. The oil company revealed underlying profits of almost $2.3bn for the July to September period, its lowest quarterly result since the last three months of 2020, when Covid travel…
Santander UK has delayed the release of its third-quarter results at the last minute as it scrambles to review last week’s landmark court judgment into car finance misselling that some analysts say could cost the lender £1.1bn. The bank was scheduled to release its latest quarterly earnings report on Tuesday morning, alongside those of its…
JPMorgan Chase is suing customers in the US it accuses of stealing thousands of dollars from ATMs by exploiting a technical glitch that went viral on TikTok this summer. The US bank has filed lawsuits in at least three federal courts against people who withdrew funds before a cheque bounced, in the so-called “infinite money…
