McDonald’s reported its first quarterly sales miss in nearly four years on Monday, squeezed by weak sales growth in its business division that includes the Middle East, China and India (The Guardian).
McDonald’s has reported weaker than expected same-store sales in its fourth quarter, as the fast-food chain became the latest company to warn that boycotts related to the war in Gaza have hurt its business (Financial Times £).
In a trading update, the fast-food company said sales in the division that includes the Middle East rose by 0.7% in the three months to the end of December, far below analysts’ estimates of 5.5% growth (The Times £).
Creating a healthier nation needs action beyond the NHS, the head of NHS England has said, as polling reveals public support for tougher action on junk food (The Times £).
Asda is to open 110 convenience stores in February as it battles for market share with its supermarket rivals (Telegraph £).
The maker of Heinz baked beans is planning to build a £40m hydrogen-powered manufacturing plant as part of its switch to greener gas (Telegraph £).
Growth in UK retail spending slowed in January, according to new industry data that suggests households continue to be squeezed by the cost of living crisis (Financial Times £).
Retailers suffered a difficult start to the year as consumers grappled with cost of living pressures (The Times £).
The traditional January sales on the high street failed to inspire a revival in consumer spending last month, as households continued to cut back amid the cost of living crisis (The Guardian).
Jeremy Hunt’s decision to review the scrapping of tax-free shopping for overseas tourists has been welcomed as a “milestone moment” by an industry group that has been campaigning for its reversal (The Times £).
US prosecutors are investigating accounting procedures at Archer Daniels Midland, the global agricultural commodities trader that placed its chief financial officer on leave last month pending its own internal probe (Financial Times £).
The Danish drugmaker behind the breakthrough weight-loss jab Wegovy has agreed to acquire three manufacturing sites for $11bn to boost production amid a surge in demand (The Times £).