China is muscling tech firms and investors need to pay attention — this could impact future earnings, says Michael Yoshikami.» Read More
Brinker International Inc. rose$. 24 or. 5 percent, to $46.07. Chipotle Mexican Grill Inc. rose $5.63 or. 8 percent, to $679.99. Domino's Pizza Inc. rose$. 12 or. 2 percent, to $73.99.
McDonald's and its franchisees can be held liable in complaints that the company violated employee rights, an official at the U.S. NLRB said.
July 29- McDonald's Corp, not just its franchisees, can be held liable in complaints that the company violated employee rights, an official at the U.S. NLRB general counsel Richard Griffin Jr. wrote in the letter that of the 181 complaints filed against the fast-food chain since November 2012 in connection with employee protests, 43 had merit.
SHANGHAI/ HONG KONG, July 30- When inspectors visited Shanghai Husi Food Co Ltd earlier this summer, the production line at the plant now at the centre of an international food scandal appeared in good order, with fresh meat being handled by properly-attired workers and supervisors keeping a watchful eye over the process.
McDonald's says it has been notified by a labor regulator that it can be named as a "joint employer" for workers in its franchise-owned restaurants.
The decision is pivotal because it could expose McDonald's Corp. to liability for management practices in those locations. The same is true for many other fast-food chains, including Burger King and Yum Brands, which owns Taco Bell, KFC and Pizza hut.
Insight to uncertainty around McDonald's meat coming from China, and the impact to its stock and earnings, with CNBC's Sara Eisen, and Will Slabaugh, Stephens Inc.
Some of the names on the move ahead of the open.
Japanese company withdraws earnings guidance and works on a contingency plan after a major meat supplier in China was shut down by regulators.
TOKYO— McDonald's in Japan is increasing its checks on chicken from vendors in China and Thailand after allegations a Chinese supplier sold expired chicken. The U.S. fast-food chain's Japan unit on Tuesday withdrew this year's earnings and sales forecasts, citing uncertainties from the food scandal.
*McDonald's Japan has changed suppliers after scandal in China. TOKYO, July 29- McDonald's Holdings Co withdrew its earnings guidance for the year on Tuesday and said it was working on a contingency plan after a major meat supplier in China was shut down by regulators for food safety breaches.
Brinker International Inc. rose$. 11 or. 2 percent, to $45.32. Chipotle Mexican Grill Inc. rose $4.43 or. 7 percent, to $678.01. Darden Restaurants Inc. rose$. 26 or. 6 percent, to $44.92.
Brinker International Inc. rose$. 20 or. 4 percent, to $45.41. Chipotle Mexican Grill Inc. rose $1.50 or. 2 percent, to $675.08. Darden Restaurants Inc. rose$. 35 or. 8 percent, to $45.01.
Chinese McDonald's have pulled Husi's meat from shelves; now many stores are only serving fries, drinks and desserts. NBC News reports.
Brinker International Inc. rose$. 20 or. 4 percent, to $45.41. Chipotle Mexican Grill Inc. rose $3.93 or. 6 percent, to $677.51. Darden Restaurants Inc. rose$. 12 or. 3 percent, to $44.78.
*China ops to come under direct control of U.S. headquarters. "This is my company and events like these have a personal toll... they simply don't represent the values I stand for or those of my company," Sheldon Lavin, the millionaire chairman, CEO and owner of Illinois- based OSI Group LLC told a news conference in Shanghai.
The president of OSI Group, David G. McDonald, declined to give details of what the company has found at Shanghai Husi Food Co. A Shanghai TV station reported last week that Husi sold expired beef and chicken to restaurants including McDonald's and KFC.
SHANGHAI, July 28- The head of U.S. meat supplier OSI Group, the parent company of a Chinese firm at the center of a food safety scandal, will hold a news conference in Shanghai later on Monday, as McDonald's Corp struck more meat dishes off its menus in China.
Homegrown fast food chains have long played second fiddle to Western brands in China but things may be in for a change after the latest food scare.
Shanghai Husi Food Co Ltd, owned by Illinois- based OSI Group LLC, is at the center of a major food safety scandal, which has spread from China to Hong Kong and Japan, over allegations it mixed fresh and expired meat.