Pelosi also said it's "irrelevant" whether approving the USMCA trade deal would give President Donald Trump a victory ahead of the 2020 election.Politicsread more
Brent crude oil jumped the most in history in the previous session after attacks on Saudi's oil industry disrupted the kingdom's production.Marketsread more
General Motors stands to lose hundreds of millions of dollars in lost production as a United Auto Workers union strike against the automaker enters its second day, but Wall...Autosread more
The fallout from two fatal crashes of Boeing 737 Max planes has ensnared the manufacturer's most-loyal customer: Southwest Airlines. The carrier has canceled thousands of...Airlinesread more
The White House and General Motors on Tuesday are decrying a Politico report that the Trump administration has gotten involved with the automaker's contract negotiations with...Autosread more
WeWork hopes to sharpen its story for investors as it works to get its on-again, off-again IPO back on track.Technologyread more
The Justice Department said it was seeking to recover "all proceeds earned by Snowden because of his failure to submit his publication for pre-publication review in violation...Politicsread more
"It is really a tale of pretty failed governance, almost of the highest order, short of something fraudulent," says the tech investor.Deals and IPOsread more
Private equity firm 3G Capital Partners discloses that it sold 25.1 million shares of Kraft Heinz, bringing its stake down by about 9%.Marketsread more
"That leads the developed world to say to China: 'We've got to rebalance this. It's working for you. It's not working for us,'" says the billionaire Blackstone co-founder.Economyread more
The chain is coming out with a bigger quarter-pounder patty that will weigh 4.25 ounces before cooking and have a new shape, making it more of a quarter-pounder plus, according to an internal document reviewed by CNBC.
The current patty stands at 4 ounces before cooking and shrinks to 2.8 ounces after cooking, according to McDonald's Twitter account. The chain also detailed new assembly procedures for the burger to make the searing more visible.
The new patties will roll out within the next month, according to one franchisee director of operations.
McDonald's declined to elaborate on the expanding burger.
"As (CEO) Steve Easterbrook has shared, we're always innovating around McDonald's food, drinks and restaurant experience based on customers' preferences, and that includes hotter food and reviewing cooking procedures, and we'll share more details soon," the company said in a statement.
So why is McDonald's tinkering with one of its most popular items?
The change "improves the taste, texture and appearance of the burgers" since the "patties retain more moisture resulting in a juicier and more flavorful burger," according to the document. The chain hopes the swaps will strengthen its core burger platform and increase burger sales.
McDonald's faces stiff competition in the burger segment as brands like Shake Shack, Sonic and Whataburger expand. Meanwhile, same-restaurant sales at McDonald's have continued to retreat, falling 2.4 percent year to date domestically.
The latest quarter-pounder moves provide more tangible evidence of just how McDonald's plans to turn around its struggling business. Easterbrook has already pledged to recommit to "tastier food across the menu." As part of this, he has said the chain will toast buns longer and change the way it sears and grills its beef.
It is also testing all-day breakfast, a top customer request, in some markets.
The quarter-pounder increase comes amid higher beef prices nationwide. During the first quarter, McDonald's noted U.S. commodity costs rose about 2 percent, due largely to higher beef prices, and the chain increased prices as a result.