James Bullard said he dissented on this week's Fed decision to lower rates by a quarter percentage point because he didn't think the cut was big enough.The Fedread more
More than 400 Chinese products will be temporarily exempted from tariffs that President Donald Trump's administration imposed last year.China Economyread more
"I feel like I've contributed all I can to this primary election," he told MSNBC's "Morning Joe." "And it's clearly not my time. So I'm going to end my presidential campaign."2020 Electionsread more
Apple will get a taste of whether upgraded features on the new iPhone 11 are enough to lure shoppers to retail stores around the world as the new smartphones officially hit...Technologyread more
The complaint made by an unnamed intelligence official about the president centers on Ukraine, the Washington post reported.Politicsread more
The Pentagon on Thursday said the recent attack on Saudi Arabian oil facilities were "sophisticated" and represented a "dramatic escalation" in tensions within the region.Defenseread more
U.S. stock futures are modestly higher, with the S&P 500 just a little more than 20 points away from July's all-time high ahead of Friday's open on Wall Street.Marketsread more
Bank of America says Amazon's plans to build its own fleet of carbon-neutral delivery trucks bode well for its bottom line.Investingread more
The show comes as social media platforms and legacy media companies alike have launched a flurry of original content alongside new streaming platforms like Apple TV+ and...Technologyread more
Pivotal Research Group began coverage of Roku with a sell rating on FridayInvestingread more
Two sites were hit on Saturday — the Abqaiq and Khurais oil facilities — which took out 5.7 million barrels per day of crude oil production.World Politicsread more
A drop in foot traffic at McDonald's restaurants in China in recent months has CEO Steve Easterbrook worried that the trade war between the Trump administration and Asia has turned off customers there.
"A somewhat more noticeable trend over the last say, three to six months, has been in China, where we are still getting like for like sales growth but the guest count growth has gone negative in China through the quarter," Easterbrook said on a conference call discussing the company's second-quarter earnings Thursday.
President Donald Trump appears to be making important progress in trade talks with U.S. allies, but on the Chinese front, matters seem to be getting worse.
The U.S. slapped tariffs on $50 billion worth of Chinese products, and China retaliated. Tariffs on the first $34 billion went into effect earlier this month by both countries, with the balance yet to be implemented. But there are bigger threats in the offering, with Trump proposing $200 billion more in an effort to get China to ease its position on U.S. intellectual property and tariffs.
"There has been a big impact within that market on the uncertainty of the trade discussions...it has clearly hit the markets, which in turn has hit consumer confidence," Easterbrook said. "So, we are keeping a close eye on that and adjusting our plans so that we can be competitive."
Foot traffic in the U.S. also slumped in the second quarter, falling 0.3 percent. In the last five quarters, this metric had been positive.
Even with this decline, McDonald's same-store sales, a key metric for restaurant companies, were up 4 percent globally, higher than the 3.5 percent expected by StreetAccount. The Golden Arches' sales this year have been fueled by higher check averages, more expensive menu items and diners adding Dollar Menu items to their orders.