Andrew Gillan of Janus Henderson Investors says he likes markets in the Philippines and Indonesia, and explains why it's difficult to invest in Vietnam despite its...Investingread more
China has other "weapons" in its trade battle with the United States — and selling off its U.S. Treasury holdings will not be one of them, said Richard McGregor, senior fellow...China Economyread more
Deutsche Bank Wealth Management's global chief investment officer predicted the Federal Reserve will cut interest rates twice in the next 12 months, but chances of a four-time...US Economyread more
Google's services have been blocked in China for several years, but the company still has businesses there, as the tech giant seeks to sell products to Chinese firms in...Technologyread more
Netflix can sustain its lofty valuation only if global subscriber growth can support increasing content spending and debt.Technologyread more
Germany online bank N26 said it raised a huge $170 million in additional funding, valuing the six-year-old fintech start-up at $3.5 billion.Technologyread more
Stocks in Asia traded lower on Thursday afternoon. Australia's jobs data showed the net number of jobs created was far below expectations.Asia Marketsread more
The House voted to table a resolution to start impeachment proceedings against President Donald Trump introduced by Rep. Al Green.Politicsread more
A photo editing app has introduced a few new wrinkles to the faces of celebrities — and to the ongoing discussion around personal digital security, NBC reports.Technologyread more
Property price gains across the wider U.K. have been slowing since 2016, according to the U.K.'s Office for National Statistics.Real Estateread more
The International Monetary Fund on Wednesday said that the U.S. dollar was overvalued by 6% to 12%, based on near-term economic fundamentals, while the euro, Japan's yen and...World Economyread more
Just when you thought it couldn't get much worse for McDonald's, it did.
Some 29 franchisees, who collectively own and operate 208 McDonald's restaurants in the United States, were asked to give their six-month forecast from 1 (poor) to 5 (excellent). The average response was 1.69, the lowest in the survey's 12-year history.
Previously, the lowest rating was 1.81, which was recorded three months ago.
Those 29 franchisees said their same-store sales fell 2.3 percent in June—2 full percentage points worse than Wall Street expectations, Kalinowski wrote. The respondents expect sales to fall 1.2 percent more this month, whereas analysts were assuming sales would rise.
"Corporate has no answers," one respondent said. "They are throwing ideas at the wall hoping something will stick. Their collective arrogance has come home to roost."
McDonald's shares fell 1.8 percent Thursday. The company, in a statement, defended its record.
"Approximately 3,100 franchisees own and operate McDonald's restaurants across the U.S.," McDonald's said. "Less than 1% of them were surveyed for this report. We value the feedback from our franchisees and have a solid working relationship with them."
Franchisees in the survey cited a range of issues, including weak marketing, poor customer perceptions and corporate ignorance.
"My numbers are not good due to new competitors," one franchisee said. "Overall, sales are still in a slump and I don't see much to get excited about in 2015."
Another respondent said, "At least half of the operators in my region are on [the] verge of collapse. With minimum wage for fast food workers potentially increasing to incredibly high levels, we are facing a crisis situation."
McDonald's faces stiff competition in the burger segment as brands like Shake Shack, Sonic and Whataburger expand. Meanwhile, U.S. same-restaurant sales at McDonald's continue to retreat, having fallen 2.4 percent this year as of late June.
In May, McDonald's announced a massive corporate restructuring initiative aimed at reorganizing the struggling business. According to CEO Steve Easterbrook, the plan is set to save the company $300 million annually.
As part of this restructuring, only 10 percent of McDonald's stores will be company owned by 2017. Currently, 80 percent of all restaurants are owned by franchisees. The company also plans to report same-store sales numbers on a quarterly basis, rather than monthly, starting in the third quarter.