McDonald’s CEO, Chris Kempczinski, has revealed that some customers are pushing back against higher prices in some markets and opting for fewer menu items in their orders. Shares of McDonald’s dropped slightly on Tuesday, but the stock reached a new 52-week high, with the fast-food giant up by approximately 10% so far this year. Consumer
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The Food and Drug Administration (FDA) has granted accelerated approval to Biogen’s new drug, Tofersen, for treating a rare and aggressive form of amyotrophic lateral sclerosis (ALS). The approval was granted as Tofersen has filled an unmet medical need for serious conditions. However, Biogen and its co-developer Ionis must further study Tofersen and verify its
Gap is set to lay off over 500 employees in a bid to reduce costs and streamline its operations, according to sources who spoke to CNBC. The exact number of job cuts is not yet known, but it is believed to be larger than the 500 corporate positions that the company announced last September. The
McDonald’s recently reported its Q1 earnings, which exceeded Wall Street expectations as the fast-food giant’s customers continued to purchase popular items like Big Macs and Shamrock Shakes. However, the company’s executives did express concerns over a possible recession looming in the United States and Europe, reiterating similar warnings from the previous quarter. McDonald’s customers in
General Motors (GM) CEO Mary Barra announced that the company will be halting production of its popular electric Chevrolet Bolt models by the end of this year. The Bolt EV and EUV models currently account for the majority of GM’s electric vehicle sales. However, the battery cells used in the cars are of an older
CNN has fired anchor Don Lemon after he made sexist comments on air and mistreated female colleagues during his 17 years at the network. Lemon, who hosted “CNN This Morning,” said he was “stunned” by the news and claimed that he was not given any indication that he would be terminated. However, CNN later disputed
Bed Bath & Beyond, the home goods retailer, has filed for bankruptcy after multiple failed attempts to keep operations running. The company has detailed its descent into insolvency in a series of court filings, but has stated its intention to continue marketing the business to avoid outright liquidation. Bed Bath & Beyond’s chief financial officer