McDonald's faces first quarterly loss amid stiff rivals
Washington Post reports McDonald's forecasts a first ever quarterly loss amounting to 5 or 6 cents a share due to weak same store sales 1.6 percent drop in early quarter and high costs from closing underperforming restaurants while rivals Wendy's Panera Bread gain share and investors push for a turnaround.
MENTIONED IN THIS ARTICLE
McDonald’s Corp
McDonald’s
Matthew Paul
Wendy’s
McDonald's
Oak Brook
Ex Tyco executive pleads guilty to securities fraud
Frank E. Walsh, former Tyco International lead director, pleads guilty after failing to disclose $20 million in finder’s fees tied to Tyco's bid for CIT Group. He admits unlawful payments, resigns to repay funds, and pays a $2.5 million fine. Prosecutors say he arranged a meeting between Tyco's CEO and CIT's CEO, with fees discussed if the acquisition succeeded.
MENTIONED IN THIS ARTICLE
NEW York
Tyco International Inc
Walsh
Frank E. Walsh
Tyco
CIT Group
Manhattan
Ing
Dennis Kozlowski
CIT
Kozlowski
Tyco Board
Credit report gaps raise loan hurdles for many
A study by the Consumer Federation of America and the National Credit Reporting Association finds over one third of consumers have discrepancies in credit reports. Omissions include revolving accounts in good standing and mortgage payments not reported as late, potentially raising interest rates or blocking loan approval for those near the 620 score threshold.
MENTIONED IN THIS ARTICLE
Washington
Cies
Consumer Federation of America
National Credit Reporting Association
FICO
Faur, Isaac Inc
White House reaffirms strong dollar policy
The White House affirmed a strong dollar policy, saying growth measures support a sturdy currency. The stance briefly steadied the dollar after it fell to multi year lows against the euro, Swiss franc and pound, though traders remain bearish overall.
MENTIONED IN THIS ARTICLE
New York
Dow Jones
White House
Claire Buchan
France
McDonald's warning shakes stock investors
McDonald's warned of further profits weakness, shaking investor confidence amid a retreat on Wall Street. The Dow fell 92.01, Nasdaq slipped 8.29, and S P 500 dipped 7.01 as traders weighed weak earnings prospects against positive but uneven economic data from production and housing.
MENTIONED IN THIS ARTICLE
New York
McDonald’s
Standard & Poor
PanAgora Asset Management Inc
Boston
McDonald's
Middle East
Federal Reserve
Wall Street
Labor Department
Commerce Department
Best Buy
Oracle
Michael Murphy
Wachovia Securities
Baltimore
S&p
New York Stock Exchange
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The
Washington Post
McChicken
Rain Forest Cafe
Chicago
Tyco Exec
Dollar
Verszon Wireless
Verizonwireless.com
Talers
Leavitt
Oberin
TeGhis
Liberty Ave
Rany of Our Stores
Japan
Europe
Britain
Germany
Cuyahoga Co
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