Fast Food Chains Warn Consumers That Worker Pay Increases Will Impact Prices
Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
Fast Food Chains Warn Consumers That Worker Pay Increases Will Impact Prices
Fast Food Chains Warn Consumers , That Worker Pay Increases
Will Impact Prices.
'Newsweek' reports that franchises have
warned an increase of the minimum wage
for fast food workers in California could also
force menu prices to climb.
As of April 1, fast food restaurants in California
will have to pay employees at least $20 an hour, an
increase of four dollars from the current $16 an hour.
.
Business owners have warned that the new law,
signed in by Democratic governor Gavin Newsom,
will have an impact on margins and consumer costs.
.
At the end of October, McDonald'sCEO Chris Kempczinski
said that the impact of the minimum wage rise would
be partially "worked through with higher pricing.".
At the end of October, McDonald's CEO Chris Kempczinski
said that the impact of the minimum wage rise would
be partially "worked through with higher pricing.".
According to McDonald's numbers, the price of
the signature Big Mac burger is currently $5.89
in California, the 10th highest in the United States.
The latest data compiled by 'The Economist' shows that
the average price of a Big Mac nationwide is currently
$5.69, which is up from $5.36 at the same time in 2023.
.
Last year, McDonald's , reported net profits of , almost $8.5 billion.
According to the company's latest financial reports,
sales increased 8.7% in the U.S. in 2023, which the
company attributed to "strategic menu price increases.".
According to the company's latest financial reports,
sales increased 8.7% in the U.S. in 2023, which the
company attributed to "strategic menu price increases.".
Meanwhile, Jack Hartnung, the CFO of fast food
chain Chipotle, told investors that the wage
increase would impact consumer prices with a
"mid-to-high single digit" percentage increase.
Meanwhile, Jack Hartnung, the CFO of fast food
chain Chipotle, told investors that the wage
increase would impact consumer prices with a
"mid-to-high single digit" percentage increase.
In December, Pizza Hut cited the wage
increase as the reason behind laying off
the company's in-house delivery drivers.
.
In December, Pizza Hut cited the wage
increase as the reason behind laying off
the company's in-house delivery drivers.
California Voters Pass Proposition 1 , to Address Homelessness Crisis.
In a state that accounts for close to a third
of all homeless people in the United States.
California counties will now be required to
spend money "on housing and drug treatment programs" to fight homelessness, NPR reports. .
Gov. Gavin Newsom raised over
$13 million to promote the measure.
Proposition 1 represents California's first mental health system update in 20 years, NPR reports. .
This is the biggest change in
decades in how California tackles
homelessness, and a victory for
doing things radically different, Gov. Gavin Newsom, via statement.
Now, counties and local officials must
match the ambition of California voters. , Gov. Gavin Newsom, via statement.
This historic reform will only
succeed if we all kick into action
immediately – state government
and local leaders, together, Gov. Gavin Newsom, via statement.
Revenue from a tax on millionaires, enacted in 2004, brings in about $2 billion to $3 billion a year toward California's mental health budget, NPR reports. .
Counties will now be required to spend two-thirds
of that money to tackle homelessness. .
The state will also be allowed to borrow
$6.3 billion to create an additional 6,800 beds for mental health and addiction treatment.
That money can also be used to
construct 4,350 housing units. Half of
those housing units will be for veterans
Credit: Wibbitz Top Stories Duration: 01:31Published
The wife of a California doctor accused of deliberately driving a car off a cliff with his family inside has begged prosecutors to drop the charges against him,.. Sky News
US authorities refute reports of Goldy Brar's death, a key suspect in Punjabi singer Sidhu Moosewala's murder, clarifying he wasn't among victims in a California shooting. Misinformation circulated on social media prompted inquiries, but Fresno Police confirmed Brar's survival. Implicated in various crimes, including arms trafficking, Brar's survival complicates efforts to address his criminal activities.
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Rumors of gangster Goldy Brar's death in the US escalate after a California shooting incident. The involvement of rival gangs, DNA testing, and international.. IndiaTimes
McDonald's Posts , Disappointing Q1 Results , Amid Ongoing Boycotts.
'The Independent' reports that McDonald's posted weaker-
than-expected results in the first quarter of 2024, as a result
of a boycott over the company's perceived support for Israel. .
'The Independent' reports that McDonald's posted weaker-
than-expected results in the first quarter of 2024, as a result
of a boycott over the company's perceived support for Israel. .
According to McDonald's, higher sales in the
United States helped the fast-food giant overcome
weakness in markets where the brand is being boycotted.
According to McDonald's, higher sales in the
United States helped the fast-food giant overcome
weakness in markets where the brand is being boycotted.
The company saw same-store sales rise by
1.9% worldwide between January and March,
below the Wall Street forecast of 2.1%.
Increased menu pricing and delivery demand
saw same-store sales in the U.S. increase by 2.5%.
In international markets, sales fell
by 0.2% for the first time since 2020.
Despite this, McDonald's said the company's revenue
increased 5% to reach $6.17 billion, while net income went
up 7% to $1.93 billion, in-line with Wall Street estimates.
'The Independent' reports that Muslim-majority
markets like Indonesia, Malaysia and the Middle East
have been boycotting McDonald's for months.
The boycotts started after a McDonald's franchise in
Israel announced in October that it would provide free
meals for Israeli troops amid the ongoing war in Gaza.
In the months since then, the company has tried to limit
the fallout by taking over all 225 McDonald's in the country
with the purchase of Alyonal Limited, its Israeli franchise.
Our hearts remain with
the communities and families
impacted by the war in the Middle East.
We abhor violence of any kind and
firmly stand against hate speech,
and we will always proudly
open our doors to everyone, McDonald's statement, via 'The Indepndent'.
Our hearts remain with
the communities and families
impacted by the war in the Middle East.
We abhor violence of any kind and
firmly stand against hate speech,
and we will always proudly
open our doors to everyone, McDonald's statement, via 'The Indepndent'
Credit: Wibbitz Top Stories Duration: 01:30Published
Krispy Kreme to Be Sold , at McDonald’s Nationwide.
Krispy Kreme to Be Sold , at McDonald’s Nationwide.
Both food chains made the announcement
on March 26, CNBC reports. .
The rollout will start later this year but will take until the end of 2026 to reach McDonald's nationwide. .
That's because Krispy Kreme will have
to "more than double its distribution"
to meet demand, CNBC reports. .
We think we can service about
6,000 restaurants with our existing
infrastructure, mostly doughnut
shops, which have excess capacity, Krispy Kreme CEO Josh Charlesworth, to CNBC.
Shares of Krispy Kreme jumped 22%
following the announcement.
Krispy Kreme is also expanding distribution
to grocery and convenience stores.
That means that the overall efficiency
and productivity of our distribution network will significantly improve over time, not just
because of all those local deliveries. , Krispy Kreme CEO Josh Charlesworth, to CNBC.
Currently, Krispy Kreme typically makes more doughnuts than it can sell, so churning out even more product will take few additional costs. .
Currently, Krispy Kreme typically makes more doughnuts than it can sell, so churning out even more product will take few additional costs. .
Overall, therefore, it makes our system
more profitable to grow the deliver
fresh daily channel, and McDonald’s
is an accelerator of that, Krispy Kreme CEO Josh Charlesworth, to CNBC.
Overall, therefore, it makes our system
more profitable to grow the deliver
fresh daily channel, and McDonald’s
is an accelerator of that, Krispy Kreme CEO Josh Charlesworth, to CNBC
Credit: Wibbitz Top Stories Duration: 01:31Published
McDonald’s Suffers , Global Tech Outage.
On March 15, McDonald's stores around the world
either shut down or paused online ordering due
to a technology outage, NBC News reports.
Locations that reported the most disruptions include Australia, China, Britain and Japan,
as well as other areas in Asia and Europe.
Many stores across the country have
temporarily suspended operations. We
apologize for any inconvenience caused to our
customers. There is currently a system failure, McDonald's Japan, via X.
Due to a computer system failure,
the mobile ordering and self-ordering
kiosks are not functioning. , McDonald's China, via Facebook.
Please order directly at the
restaurant counter. Sorry for
any inconvenience caused, McDonald's China, via Facebook.
At around 4 p.m. local time, the
'South China Morning Post' reported
that the problem had been fixed.
The McDonald's Corporation
also issued a statement.
We are aware of a technology outage,
which impacted our restaurants;
the issue is now being resolved. , McDonald's Corporation spokesperson, via statement.
We thank customers for their patience
and apologize for any inconvenience
this may have caused, McDonald's Corporation spokesperson, via statement.
Notably, the issue is not related
to a cybersecurity event, McDonald's Corporation spokesperson, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
The White House defended President Biden's comments on 'xenophobia' regarding India, China, and Japan, stressing the positive role of immigrants in the US. Biden's remarks, made at a Democratic Party fundraiser, linked economic challenges in these countries to xenophobia, but faced criticism. Nonetheless, the White House reaffirmed Biden's commitment to strengthening ties with allies like India and Japan.
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House GOP Advances Aid Bills , for Israel, Ukraine and Taiwan.
The foreign aid bills were advanced by a
9-3 vote, thanks to the help of four Democrats on the committee, CBS News reports. .
Those Democrats are Jim McGovern, Mary Gay Scanlon, Joe Neguse and Teresa Leger Fernández.
Those Democrats are Jim McGovern, Mary Gay Scanlon, Joe Neguse and Teresa Leger Fernández.
Those Democrats are Jim McGovern, Mary Gay Scanlon, Joe Neguse and Teresa Leger Fernández.
Those Democrats are Jim McGovern, Mary Gay Scanlon, Joe Neguse and Teresa Leger Fernández.
Conservatives who voted against the bills,
because border security wasn't lumped in, include Tom Massie, Ralph Norman and Chip Roy. .
Conservatives who voted against the bills,
because border security wasn't lumped in, include Tom Massie, Ralph Norman and Chip Roy. .
A final vote on the foreign aid package
will take place on April 20. .
The three bills would support Israel,
Ukraine and Taiwan with $26.4 billion,
$60.8 billion and $8.1 billion, respectively. .
The three bills would support Israel,
Ukraine and Taiwan with $26.4 billion,
$60.8 billion and $8.1 billion, respectively. .
The three bills would support Israel,
Ukraine and Taiwan with $26.4 billion,
$60.8 billion and $8.1 billion, respectively. .
$9.1 billion of the Israel package would go toward Palestinian humanitarian efforts. .
A fourth bill seeks to allow the sale of Russian oligarchs' assets that have been frozen in order to continue funding Ukraine.
possibly "force the sale of TikTok
and authorize stricter sanctions on Russia, China and Iran," CBS News reports. .
possibly "force the sale of TikTok
and authorize stricter sanctions on Russia, China and Iran," CBS News reports. .
Some far-right Republicans have threatened to remove House Speaker Mike Johnson from his position for supporting additional Ukraine funding.
Johnson defended his actions, calling lethal aid for Ukraine "critically important.".
If I operated out of fear over
a motion to vacate, I would
never be able to do my job, House Speaker Mike Johnson, via statement.
Look, history judges us for what we
do. This is a critical time right now
critical time on the world stage. , House Speaker Mike Johnson, via statement.
I could make a, you know I can make
a selfish decision and do something that, that's different. But I'm doing here
what I believe to be the right thing, House Speaker Mike Johnson, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
South Korea’s Opposition , Dominates Parliamentary Elections.
South Korea's Democratic Party won
"175 seats in the 300-member single-chamber parliament" on April 10, NPR reports.
The ruling right-wing People Power Party became a smaller minority with only 108 seats. .
The outcome is considered to be a blow to conservative President Yoon Suk Yeol.
The country's prime minister and
other presidential officials offered
to resign after the crushing defeat. .
The country's prime minister and
other presidential officials offered
to resign after the crushing defeat. .
I apologize to the people on behalf
of our party, which wasn’t good
enough to win the people’s choices, Han Dong-hoon, People Power Party leader, via statement.
While Yoon said that he intends to
"humbly uphold" the will of the people
as indicated by the election results, .
it is not known if he will accept his
staff's offers to resign. .
Lee Jae-myung, the Democratic Party leader who
is considering running for president again, .
said there is a need for both parties to
"pull together" to "resolve economic
and public livelihood problems.".
The results of the parliamentary
elections are not the victory by
the Democratic Party, but the
great victory by our people, Lee Jae-myung, the Democratic Party leader.
Now, the elections are over. Both
the ruling and opposition political
parties must pull together all their
strength to resolve economic and
public livelihood problems, Lee Jae-myung, the Democratic Party leader.
According to the National Election Commission, voter turnout reached its
highest level in over three decades for
a parliamentary election, NPR reports.
Credit: Wibbitz Top Stories Duration: 01:31Published
Donald Trump Says States , Should Decide Abortion Legislation.
On April 8, the former president set
the record straight about where he
stands on abortion rights, CNN reports. .
My view is now that we have abortion
where everyone wanted it from a legal
standpoint, the states will determine by
vote or legislation, or perhaps both. , Donald Trump, via Truth Social video.
And whatever they decide must
be the law of the land. In this
case, the law of the state, Donald Trump, via Truth Social video.
Many states will be different. Many will
have a different number of weeks, or
some will have more conservative than
others, and that’s what they will be. , Donald Trump, via Truth Social video.
At the end of the day, this is all
about the will of the people, Donald Trump, via Truth Social video.
Trump also said he was "proudly the
person responsible" for Roe v. Wade
being overturned in 2022.
He went on to say that the decision removed the issue from "federal hands and brought it into the hearts, minds and vote of the people in each state.".
Susan B. Anthony Pro-Life America President Marjorie Dannenfelser said that her organization was "deeply disappointed"
by what Trump had to say, CNN reports. .
Saying the issue is ‘back to the states’
cedes the national debate to the Democrats
who are working relentlessly to enact
legislation mandating abortion throughout
all nine months of pregnancy. , Marjorie Dannenfelser, Susan B. Anthony Pro-Life
America president, via statement.
If successful, they will wipe
out states’ rights. , Marjorie Dannenfelser, Susan B. Anthony Pro-Life
America president, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
Fast food prices have significantly increased in recent years, often outpacing inflation and other food-related costs. These hikes can be attributed to several factors, including rising labor costs,..
Key Federal Reserve Inflation Gauge , Rose 2.8% in March.
According to Commerce Department
data released on April 26.
the personal consumption expenditures
(PCE) price index, not including food or..
Credit: Wibbitz Top Stories Duration: 01:30Published
Quit Wasting Your Money , on These Things.
As inflation continues to send the
prices of everyday items soaring,
it's imperative to budget your finances.
Over time, even the most conscious consumers..
Credit: Wibbitz Top Stories Duration: 01:30Published
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