Profits fall at McDonald’s as it redoubles value push

Profits fall at McDonald’s as it redoubles value push

McDonald's reported a drop in profits Monday behind broad-based sales declines as the fast food giant redoubles efforts to win over inflation-weary consumers. All three of the chain's operating regions experienced comparable sales decline, a significant weakening next to the year-ago results when global comparable sales jumped nearly nine percent. Profits for the quarter ending June 30 were $2.0 billion, down 12 percent. Revenues were essentially flat […]

July 29, 2024 8

World

Typhoon Gaemi hits Chinese seaboard prompting fears of widespread flooding

Typhoon Gaemi has made landfall in southeastern China after barreling across the Taiwan Strait, prompting warnings of swelling rivers, flash floods and waterlogging in cities and provinces that were hit by torrential rain just several weeks ago. Laura Westbrook has more from Hong Kong.

July 26, 2024 23

World

Japan to reach out to Pacific nations to counter China at PALM10

Japan is set to announce a new development package for Pacific Island nations to further counter the influence of China in the region at a Tokyo summit this week. The PALM 10 meeting between Japan and members of Pacific Island Forum begins on Tuesday and is expected to oppose any change to the international order by unilateral force. Chris Gilbert reports from Tokyo.

July 15, 2024 28

World

China says it will never accept ‘unfounded accusations’ at NATO summit

China will never accept the "unfounded accusations" made against it at the NATO summit this week in Washington, Foreign Minister Wang Yi said to his Dutch counterpart over a phone call, his ministry said. The NATO summit said Beijing continues to pose systemic challenges to Europe and to security. Laura Westbrook has more.

July 12, 2024 20

World

Japan investigates intrusion into Chinese waters

Japan is investigating how one of its destroyers intruded into Chinese waters. The Maritime Self Defense Force vessel Suzutsuki was monitoring war drills when it entered Chinese territory without permission last week. Chris Gilbert reports

July 11, 2024 20

World

Hungary Prime Minister arrives in Beijing

Hungary's Prime Minister Viktor Orban arrived in Beijing on Monday for talks with Chinese President Xi Jinping. This is Orban's third surprise overseas trip since Hungary took over the European Union's rotating presidency at the beginning of July, after he travelled to Ukraine and Russia last week on what he called a "peace mission". Laura Westbrook has more.

July 8, 2024 36

Business / Economics

EU imposes tariffs on Chinese electric vehicles

The European Union has imposed additional tariffs on Chinese electric vehicles in a move the bloc says is in response to unfair trade practices. The EU accuses China of flooding the European market with heavily subsidized EVs. William Denselow reports from Brussels.

July 5, 2024 34

World

Xi Jinping holds talks with Vladimir Putin on sidelines of summit in Kazakhstan

Russian President Vladimir Putin and Chinese President Xi Jinping met Wednesday in Astana. The expected admission of Belarus to the Shanghai Cooperation Organization at its annual leaders' summit is another push by Beijing and Moscow to transform the grouping into a geopolitical counterweight to the influence of the United States and its allies. Laura Westbrook has more.

July 4, 2024 21

World

Beijing and Manila agree to keep talking to ease South China Sea tensions

China and the Philippines have agreed to de-escalate tensions in the disputed South China Sea, at a bilateral consultative mechanism meeting in Manila. It follows some of the worst clashes in recent history that raised the risks of a wider conflict. Laura Westbrook has more.

July 3, 2024 17