NEW YORK (AP) – McDonald’s once again faced criticism that it’s a purveyor of junk food that markets to children at its annual shareholder meeting Thursday.
The world’s biggest hamburger chain has been looking to keep up with changing tastes as people increasingly opt for foods they feel are fresh or healthy. Customers can now order egg whites in its breakfast sandwiches, for example. McDonald’s also recently introduced chicken wraps to go after people in their 20s and 30s looking for better-for-you options.
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BANGKOK (AP) – Asian stocks continued to retreat Friday after being routed the day before by unexpectedly weak Chinese manufacturing and fears the Federal Reserve will start withdrawing its monetary stimulus.
Japan’s Nikkei 225 index, which plummeted more than 7 percent Thursday, reversed a big morning gain and shed 0.7 percent to 14,391.74 as the yen strengthened against the dollar. South Korea’s Kospi gained 0.1 percent to 1,971.23.
Hong Kong’s Hang Seng spent the morning bobbing between slight gains and losses before falling 0.5 percent to 22,553.60. Australia’s S&P/ASX 200 tumbled 1.7 percent to 4,976, hit by losses in banking and mining shares. Benchmarks in the Philippines, Taiwan and New Zealand also fell.
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Buoyant consumer confidence and increased household spending is keeping Germany, Europe’s biggest economy, from recession, despite sagging exports and falling investment, data showed on Friday.
The federal statistics office Destatis calculated in final data that Germany’s gross domestic product (GDP) notched up anaemic growth of 0.1 percent in the period from January to March, with only consumer spending in positive territory.
The data — which confirm a preliminary estimate already published earlier this month — showed that the German economy has successfully skirted a recession following a sharp contraction of 0.7 percent in the previous quarter.
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Japan posted a trade deficit of 879.9 billion yen (8.6 billion dollars) in April, more than expected, for the 10th consecutive month of trade loss amid high fuel imports and a sinking yen, the government said Wednesday.
Exports climbed 3.8 per cent but imports surged 9.4 per cent, the Finance Ministry said in a preliminary report. Exports had been predicted to grow 5.4 per cent, according to a survey of economists by financial news agency Bloomberg.
The deficit more than doubled from 362.4 billion yen posted for March.
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NEW YORK (AP) – ESPN is cutting its workforce, the latest Disney division to reduce staff.
“We are implementing changes across the company to enhance our continued growth while smartly managing costs,” the sports media giant said in a statement Tuesday. “While difficult, we are confident that it will make us more competitive, innovative and productive.”
The company would not say how many jobs are being eliminated, but they include unfilled positions. ESPN has about 7,000 employees worldwide, with about 4,000 at its headquarters in Bristol, Connecticut. The vast majority work behind the scenes.
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