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McDonald's Corp (MCD)

MCD on New York Consolidated

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30 Nov 2016
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Latest Key Developments (Source: Significant Developments)

China National Chemical and New Hope said to mull bids for McDonald's China franchise- Bloomberg
Tuesday, 14 Jun 2016 12:50am EDT 

: China National Chemical Corp and New Hope Group said to mull bids for McDonald's China franchise- Bloomberg, citing sources . KKR considering teaming up with a chinese firm to make a joint bid for McDonald's mainland China franchise, which could fetch about $2 bln- Bloomberg Source (http://bloom.bg/1PqoN7L) Further company coverage: [MCD.N] (Bengaluru Newsroom) (((+91 80 6749-1130; within U.S. +1 646 223 8780);)).  Full Article

McDonald's says Enrique Hernandez Jr. elected non-executive chairman - SEC filing
Wednesday, 1 Jun 2016 04:56pm EDT 

McDonald's Corp :Says Enrique Hernandez, Jr. has been elected non-executive chairman ; succeeds Andrew J. Mckenna- SEC filing.  Full Article

Mcdonald's sets quarterly cash dividend of $0.89 per share
Thursday, 26 May 2016 04:30pm EDT 

Mcdonald's Corp :Sets quarterly cash dividend of $0.89per share.  Full Article

McDonald's Board of Directors names Enrique Hernandez, Jr. Non-Executive Chairman
Thursday, 26 May 2016 01:43pm EDT 

: McDonald's Board of Directors names Enrique Hernandez, Jr. Non-Executive Chairman . Hernandez, has served on board as an independent director since 1996 and most recently chaired audit committee . Says Hernandez serves as a director for Chevron Corporation, Wells Fargo & Company, and Nordstrom, Inc. .Hernandez succeeds Andrew J. Mckenna, who retired after 25 years of service as a director.  Full Article

Westlife Development says McDonald's India does not use potassium bromate or potassium iodate in flour
Tuesday, 24 May 2016 04:18am EDT 

Westlife Development Ltd : Clarifies on news item "Cancer causing chemicals likely in bread" . McDonald's India does not use potassium bromate or potassium iodate in the flour . "Claims made by CSE in their press release and report are completely baseles" .  Full Article

McDonald's Corp - France bills McDonald's $341 mln for unpaid tax - report - Reuters News
Tuesday, 19 Apr 2016 08:13pm EDT 

McDonald's Corp:French authorities have sent McDonald's France a 300 million euro ($341 million) bill for unpaid taxes on profits believed to have been funnelled through Luxembourg and Switzerland, business magazine L'Expansion reported on Tuesday. - RTRS.It said tax officials had accused the giant U.S. burger chain of using a Luxembourg-based entity, McD Europe Franchising, to shift profits to lower-tax jurisdictions by billing the French division excessively for use of the company brand and other services.McDonald's France declined to comment on developments in the ongoing French tax investigation, first reported in 2014."McDonald's is one of the biggest payers of company tax in France and we're proud of it," the group said in a statement emailed to Reuters on Tuesday.McDonald's has paid 1.2 billion euros in tax and invested another 1 billion in the country since 2009, it said, creating 10,000 jobs.In January 2014, McDonald's confirmed that its French offices had been searched by tax officials three months earlier, after L'Expansion reported that it was suspected of transferring 2.2 billion euros out of the country to evade tax.The company said at the time it firmly denied the magazine's allegations "according to which McDonald's supposedly hid part of its revenue from taxes in France".  Full Article

Alphabet Inc - Apple Inc, McDonald's Corp, Google and IKEA to face EU lawmakers over tax deals - Reuters News
Monday, 14 Mar 2016 08:20am EDT 

McDonald's Corp:Apple, Google, McDonald's and IKEA will be asked about their European tax deals on Wednesday as EU lawmakers ratchet up the pressure on multinationals to pay more tax on their profits locally - RTRS.The hearing, organised by the European Parliament's tax committee, follows a similar event in November last year when Anheuser-Busch InBev, HSBC, Google and eight other companies were quizzed on the same subject.While the committee has no power to order changes, the hearing reflects the political concerns over multinationals avoiding local tax liabilities.The European Commission is also investigating several cases to see if they breach the bloc's state aid rules which prohibit EU countries from giving some companies an unfair advantage by making special deals on tax.Starbucks declined to take part because it has challenged a European Commission order to the Dutch authorities to recover up to 30 million euros in back taxes, the European Parliament said in a statement.Fiat Chrysler Automobiles, which is also appealing against an EU finding against its tax deal with Luxembourg, also turned down the invitation.The head of Inter IKEA Group, Soren Hansen, will argue the Swedish furniture retailer's case.Inter IKEA Group owns the intellectual property rights under which its retailers operate.All the companies have previously said they comply with EU tax rules.  Full Article

McDonald's Corp quares off against U.S. labor board in trial - Reuters News
Thursday, 10 Mar 2016 06:47pm EST 

McDonald's Corp:A highly anticipated trial over whether McDonald's could be on the hook for its franchisees' alleged retaliation against employees who participated in fast-food worker protests across the United States began on Thursday - RTRS.At issue is whether McDonald's USA, a unit of Illinois-based McDonald's Corp MCD.N, is a "joint employer" of workers at its independently owned franchises, as the National Labor Relations Board says.That would make the company liable for labor law violations by the franchisees, which operate 90 percent of McDonald's U.S. restaurants.The trial before an administrative NLRB judge in New York has attracted national attention because it is expected to show how the board's new standard for joint employment applies to the franchisor-franchisee relationship, although the ruling in the case will apply to McDonald's only.Critics have cast the new standard as an existential threat to the franchise model.In his opening statement, NLRB lawyer Jamie Rucker described the level of control McDonald’s has over its franchisees, setting everything from cleaning requirements and the number of seconds for order-taking to pre-packaged interview questions for prospective hires."If McDonald's is involved in determining working conditions at its franchised operations, it is responsible for what happens to workers subject to those conditions," Rucker said.  Full Article

McDonald's Corp - McDonald's Sued Over Their New Mozzarella Sticks - Huffington Post
Wednesday, 3 Feb 2016 03:29pm EST 

McDonald's Corp:McDonald's is facing a class action lawsuit from a California man who claims the restaurant is misleading cheese lovers by including starch in their new mozzarella sticks instead of " 100 percent real and melty mozzarella cheese" as advertised. - Huffington Post.The lawsuit, filed last week, came a day after McDonald's issued an apology over its mozzarella sticks when Twitter users posted image after image of hollow-looking sticks that appeared to contain no cheese at all. (The lawsuit, however, is unrelated to this mishap.).The filed complaint accuses McDonald's of using a starch filler along with mozzarella in the new menu item . Modified food starch is listed as an ingredient on McDonald's website, but it's unclear if it's listed as part of the breading or the cheese itself.Lead plaintiff Chris Howe claims it's in the cheese portion.Added ingredients aren't uncommon in cheese products: Kraft faced a lawsuit last year over the addition of artificial color in products labeled "natural cheese", and powdered cellulose is added to many types of shredded dairy to prevent clumping, the Wall Street Journal reports.Howe claims that McDonald's mozzarella sticks violate the Food and Drug Administration rule prohibiting the "adulteration or misbranding" of food, the same principle at the crux of the Kraft case.  Full Article

McDonald's Corp - EU antitrust chief rejects U.S. criticism of Apple, Starbucks tax cases - Reuters
Monday, 1 Feb 2016 12:34am EST 

McDonald's Corp:Europe's antitrust chief signalled on Monday her determination to go after Apple, Starbucks and McDonald's over their sweetheart tax deals in the bloc, dismissing U.S. criticism of her crackdown on the companies - RTRS.European Competition Commissioner Margrethe Vestager's comments come three days after senior U.S. Treasury official Robert Stack met her team in the latest lobbying effort against her clampdown on tax deals involving U.S. as well as EU companies - RTRS.Vestager, who was not at the meeting, indicated she had not been swayed by Stack's arguments, similar to those made to a Senate committee last December - RTRS."It is the same argument as we have heard before," she told reporters on the sidelines of a conference organised by the Global Competition Law Centre. - RTRS."Just as it is an obvious right for U.S. tax authorities to tax revenues when they are repatriated, it is also for European tax authorities to tax money that is made in the member states." - RTRS.All the companies have denied wrongdoing. While Starbucks was told to pay up to 30 million euros in back taxes to the Netherlands in October last year, Apple could end up with a bigger bill to the Irish. A decision is likely to come in the spring - RTRS.Vestager also said it was too early to decide whether to investigate Google's 130 million pound settlement with British tax authorities. The Scottish National Party has formally complained about it to the European Commission - RTRS.  Full Article

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Brazil court calls McDonald's to hearing for alleged labor violations

SAO PAULO Brazilian labor authorities on Friday called local McDonald's Corp representatives to a hearing on Dec. 13 over alleged violations of the country's labor laws, and said they could impose fines of up to 103 million reais ($30 million).