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Austerity Bites: McDonald’s Sales Miss Expectations
Reuters- McDonald’s reported a lower-than-expected rise in global sales at established restaurants in May and warned that austerity measures in Europe, a big source of revenues, and global economic volatility were taking a bite out of results. Foreign currency rates and higher costs, due in part to preparations for the summer Olympics in London, also were expected to weigh on earnings this quarter, the world’s biggest hamburger chain said on Friday. Read Article
Tags: Asia, debt wealth, Europe, nature of corporations, North America