McDonald's Corp (MCD) Key Developments | Reuters.com
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McDonald's Corp (MCD)

MCD on New York Consolidated

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1 Jul 2016
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Latest Key Developments (Source: Significant Developments)

McDonald's Corp announces quarterly cash dividend
Wednesday, 27 Jan 2016 04:30pm EST 

McDonald's Corp:Board of Directors declared a quarterly cash dividend of $0.89 per share of common stock.Payable on March 15 to shareholders of record date as on March 1.  Full Article

McDonald's Corp - Franchises appeal Seattle minimum wage case to U.S. Supreme Court - Reuters
Monday, 25 Jan 2016 09:44pm EST 

McDonald's Corp:A business group said on Monday it was asking the U.S. Supreme Court to hear its appeal of a lower-court ruling tossing out its challenge of part of Seattle's law to increase the minimum wage - RTRS.The International Franchise Association, which brought its lawsuit against the city in June 2014, says the law favors independent businesses because it requires franchises like McDonald's and Burger King to phase in the new $15 minimum wage more quickly - RTRS.The association's lawsuit challenges the law's treatment of franchises as subsidiaries of parent companies, rather than completely separate businesses - RTRS.Representatives for the city could not be immediately reached for comment. Commenting on the lawsuit last year, Seattle Mayor Ed Murray, a Democrat who championed the wage hike, said: - RTRS."Rather than investing in lawyers to prevent workers from earning higher wages, it is time for these large businesses to begin investing in a higher minimum wage for their employees." - RTRS.A federal judge last March denied the group's lawsuit, saying it failed to back up its discrimination claims. The 9th U.S. Circuit Court of Appeals upheld that decision in September - RTRS.The law, which took effect on April 1 last year, requires businesses in Seattle with more than 500 employees nationwide to raise their minimum wage to $15 by 2018. Smaller companies have until 2021. - RTRS.  Full Article

Italian consumer groups file EU complaint against McDonald's Corp - Reuters
Monday, 11 Jan 2016 09:45pm EST 

McDonald's Corp:Three Italian consumer organisations have accused U.S. fast food chain McDonald's of operating an anti-competitive system in Europe, with restrictive clauses imposed on franchise operators that may breach the bloc's antitrust rules - RTRS.Codacons, Movimento Difesa del Cittadino and Cittadinanzattiva filed a complaint with the European Commission on Monday, urging the EU competition enforcer to step in - RTRS."The system construed by McDonald's raises strong concerns under antitrust laws," the group said in its complaint seen by Reuters - RTRS.At issue are franchise contracts, which on average last 20 years and so are twice as long as most other franchises, a requirement on licensees to lease premises from McDonald's at above-market rates and conditions hindering them from switching to competitors, the group says - RTRS.At issue are franchise contracts, which on average last 20 years and so are twice as long as most other franchises, a requirement on licensees to lease premises from McDonald's at above-market rates and conditions hindering them from switching to competitors, the group says - RTRS.It is far from certain that the Commission will open a second probe into the company. Complaints are usually followed by questionnaires sent to companies, after which the regulator determines whether there is cause for further action - RTRS.  Full Article

McDonald's Corp - After China probe, OSI food-safety trial opens in Shanghai - Reuters
Sunday, 27 Dec 2015 10:11am EST 

McDonald's Corp:The long-awaited China trial of U.S. food supplier OSI Group opened in Shanghai on Monday, kicking off the final act of a scandal that dragged in fast-food giants McDonald's Corp and Yum Brands - RTRS.In July, 2014, a Chinese TV report alleged to show workers at a Shanghai unit of OSI using out-of-date meat and doctoring production dates, a scandal which rippled as far afield as Japan and prompted apologies from OSI clients McDonald's and Yum - RTRS.The criminal trial opened at the Shanghai Jiading People's Court, a court official and lawyers told Reuters. Shanghai prosecutors charged two OSI China units and 10 employees for producing and selling sub-standard products in Sept - RTRS.A large fine against OSI could threaten the firm's business in the country and would signal an aggressive approach by China towards food-safety regulation, long a major risk for restaurant chains and retailers in the world's second-largest economy - RTRS.Under China's criminal law, firms and individuals can face large fines and jail sentences if found guilty of knowingly producing and selling sub-standard products. - RTRS.Food-safety scares, including at OSI, have had a major impact on some international firms in China, hitting reputations and sales at firms from McDonald's and KFC-parent Yum to France's Danone SA DANO.PA and Wal Mart Stores Inc - RTRS.  Full Article

McDonald's Corp, KFC, Subway, Tsui Wah named by Hong Kong Consumer Council in push to stop sourcing meat with antibiotics - South China Morning Post
Monday, 7 Dec 2015 10:41pm EST 

McDonald's Corp:McDonald’s and Cafe de Coral are among 9 restaurant groups targeted by the city’s consumer watchdog in its latest campaign to tackle a major public health risk caused by the use of meat from animals fed by growth-promoting antibiotics - South China Morning Post.In a statement published on the Consumer Council’s website, the watchdog said it had written to nine restaurant chains to inquire about their policies on the use of such meat - South China Morning Post.It further urged the companies to set a timetable to stop sourcing meat and poultry from animals that were routinely fattened by the supplements. The request came in an effort to halt the spread of deadly, antibiotic-resistant bacteria posing serious health hazards - South China Morning Post.The full list of chains targeted are: McDonald’s, KFC, Subway, Yoshinoya, Cafe de Coral, Fairwood, Maxim’s, Tai Hing and Tsui Wah. - South China Morning Post.The watchdog suggested the firms publicise details of their antibiotic-free production policy and that implementation be audited by an independent third party - South China Morning Post.Council chief executive Gilly Wong Fung-han said the watchdog would give the restaurants some time to implement changes - South China Morning Post.  Full Article

EU set to investigate McDonald's Corp tax deal with Luxembourg - sources - Reuters
Wednesday, 2 Dec 2015 03:21am EST 

McDonald's Corp:EU antitrust regulators are likely to investigate U.S. fast food chain McDonald's tax deal with Luxembourg to see if illegal state aid is involved, two people with knowledge of the matter said on Wednesday. - RTRS.European Competition Commissioner Margrethe Vestager could announce the investigation as early as Thursday at a press conference, the sources said, marking her latest action against multinationals suspected of dodging taxes - RTRS.  Full Article

McDonald's Corp hit with $355,000 in civil penalties in discrimination case - Reuters
Friday, 20 Nov 2015 02:41am EST 

McDonald's Corp:McDonald's Corp will pay $355,000 in civil penalties, undergo 20 months of monitoring and train its employees as part of a settlement of an immigration-related discrimination claim, the U.S. Justice Department said on Thursday - RTRS."The settlement agreement also requires McDonald’s to compensate lawful permanent resident employees of McDonald’s-owned restaurants who lost work or lost their jobs due to these documentary practices," the Justice Department said in a statement - RTRS.An investigation, based on information received on a department worker hotline, found McDonald’s required lawful permanent residents to show a new permanent resident card, commonly called a "Green Card," when their original document expired, the statement said - RTRS.This is not required by law, the statement said, and the investigation found McDonald's, did not have a similar policy of asking its U.S. citizen employees to show new documents - RTRS.Some of the permanent residents who were unable to provide a new card when asked by McDonald's were not allowed to work or lost their jobs, the Justice Department said - RTRS.Lawful permanent residents who worked for a corporate-owned McDonald’s between Sept. 23, 2012, and March 1, 2015, may be eligible for compensation, the statement said - RTRS.  Full Article

McDonald's Corp - McDonald's operator sued after diners exposed to hepatitis A - Reuters
Wednesday, 18 Nov 2015 06:10pm EST 

McDonald's Corp:A customer sued the operator of a McDonald's restaurant in Waterloo, New York, on Wednesday after diners were exposed to food and drinks prepared by a worker with hepatitis A, the virus that causes contagious liver infections - RTRS.The lawsuit was filed in New York state court in Seneca County against Jascor Inc. It seeks class-action status for potentially affected customers, who plaintiffs said could number more than 1,000 - RTRS.Representatives from Jascor could not immediately be reached for comment. Most McDonald's restaurants are operated by franchisees rather than McDonald's Corp - RTRS.The Seneca County Health Department on Nov. 13 confirmed a case of hepatitis A in a food service worker at the Waterloo McDonald's - RTRS.Public health officials said diners had a low risk of contracting the illness, but urged those who had consumed food and/or drinks from the restaurant on Nov. 2, 3, 5, 6 and 8 to consider treatments if they were not previously vaccinated against hepatitis A - RTRS.Christopher Welch, the plaintiff in the lawsuit, purchased and consumed products from the restaurant on at least one day when the infected worker was on duty, according to the lawsuit - RTRS.A food worker with hepatitis A can contaminate food, drinks, utensils and dishes by failing to wash his or her hands after going to the bathroom - RTRS.  Full Article

McDonald's Corp reiterates Q4 2015 comparable sales guidance in all segments; gives FY 2016 Systemwide sales and Operating income guidance ;increases Q4 2015 dividend
Tuesday, 10 Nov 2015 01:29pm EST 

McDonald's Corp:Reiterated that it expects positive Q4 2015 comparable sales in all segments.Sales, Operating Income and One-year Return on Incremental Invested Capital targets for Fy 2016 that are more consistent with the Company's previously stated long-term financial targets.Sees FY 2016 Systemwide sales growth of 3% to 5%.Sees FY 2016 Operating income growth of 5% to 7%, excluding potential charges in 2016 associated with executing against our refranchising strategy and cost-saving initiatives.Sees FY 2016 Capital expenditures of about $2 billion, split between opening about 1,000 new restaurants and reinvesting in existing restaurants.Declared quarterly cash dividend of $0.89 per share of common stock.payable on December 15, 2015 to shareholders of record at the close of business on December 1, 2015.  Full Article

McDonald's Corp - Protesters for higher U.S. fast-food worker wages march in New York - RTRS
Tuesday, 10 Nov 2015 08:07am EST 

McDonald's Corp:U.S. fast-food workers launched a nationwide protest in Brooklyn early Tuesday to argue for higher wages and union rights that they hope will catch the attention of candidates in the 2016 elections - RTRS.A couple hundred protesters marched down downtown Brooklyn's Fulton Street, blocking traffic, chanting "We are the workers, the mighty workers fighting for justice." - RTRS.Organizers of the Fight for $15 campaign say the protests will be followed by rallies in 500 cities by low-wage workers in such sectors as fast food and home and child care - RTRS.The protests and strikes are aimed at gaining candidates' support heading into the 2016 election for a minimum wage of $15 an hour and union rights, it said - RTRS.The strikes and protests will include workers from McDonald’s, Wendy’s, Burger King, KFC and other restaurants, the statement said - RTRS.The scheduled protests will take place as McDonald's is holding an investor meeting - RTRS.  Full Article

CJ Group says submitted letter of intent to buy McDonald's South Korean unit

SEOUL South Korea's CJ Group, a food-to-entertainment conglomerate, said on Wednesday it has submitted a letter of intent to buy McDonald's Corp's South Korean unit, adding that details have not been decided.