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McDonald’s to raise wages for 90,000 US employees

Fast-food giant McDonald’s says it will raise the pay of more than 90,000 US employees to at least $1 above the legal minimum wage.   That is currently $7.25 (£4.90) an hour, but individual states can set their own rates.   The move will only benefit staff at company-owned outlets…

Primark’s ‘outstanding’ sales boost AB Foods

Clothes retailer Primark has enjoyed an “outstanding performance” during the past few months, according to its owner Associated British Foods.   It expects total sales to be up 23% in six months to 2 March, while like-for-like sales – which strip out new store openings – are set to be…

KFC owner Yum shares down 17% on China forecast

Shares in Yum Brands, which owns KFC and Pizza Hut, fell more than 17% in after-hours trading in the US after the firm reported poorer than expected results for the three months to 5 September.   Yum also lowered its full-year earnings growth forecast in its key market of China….

US regulators extend Takata airbag recall

US safety authorities are demanding that a recall of airbags which can explode with dangerous force be expanded to the whole country.   The recall of certain airbags made by Japan’s Takata had been limited to cars registered in humid states.   But the National Highway Traffic Safety Administration (NHTSA)…

KFC owner Yum cuts profit outlook on China food scare

Yum said it would take legal action against both companies.   The US-based fast-food giant has also been struggling to maintain market share in its home country, and has unveiled new menu options at Taco Bell to attract consumers.   Its Pizza Hut brand has also resorted to offering large…

McDonalds to open 1,250 new China outlets

McDonald’s is to open 1,250 new restaurants in China over the next five years as it focuses on high-growth markets to boost sales.   This would make China the fast food chain’s second-largest market after the US.   McDonald’s also wants to open 250 outlets in Hong Kong and South…