Burger King hikes profit but warns on jobs August 24, 2010 BURGER King reported higher-than-expected quarterly profit as it kept a tight rein on expenses yesterday. Yet the fast-food chain, which counts the infamous Whopper beefburger among its products, said business would remain under pressure in the new year because of lingering unemployment and government austerity programmes in several European countries. Burger King is more vulnerable [...]
Yet more steak venues, and Ramsay comes to the City August 29, 2011 WOLFGANG PUCK’S CUT What: Austrian-American super-chef, restaurateur and friend of Hollywood Wolfgang Puck has a large number of acclaimed restaurants in the US and the Far East, and is opening his first European venue at the hugely anticipated new hotel, 45 Park Lane. Across the road from the Dorchester and operated by the same company, [...]
Burger King tops Wall St forecasts on good margins April 29, 2010 Burger King reported a quarterly profit that edged past Wall Street’s expectations yesterday, helped by better-than-expected margins. The second-biggest US hamburger chain after McDonald’s had warned in March that bad weather in the central and eastern United States kept diners away during the quarter and it expected lower revenue and restaurant margins for the period. [...]
McDonald’s posts strong profit rise October 21, 2010 McDonald’s yesterday beat Wall Street expectations for quarterly profit and same-store sales growth in September as the popularity of its fruit smoothies and Dollar Menu helped it win further market share. The world’s biggest hamburger chain is outperforming the overall fast-food sector, which is struggling with high US unemployment and economic weakness domestically and in [...]
Genteel, smart… meet the old Marbella July 24, 2011 THE plane descends over the southern Spanish countryside and the perfect rows of olive trees almost resemble a Roy Lichtenstein cartoon from above, neatly formed into different sections by hill slope and field. The dramatic mountains give way to bold blue waters and there are whisps of white as the waves collide with the land. [...]
HSBC warns over UK banking exodus September 2, 2010 A LITTLE-KNOWN private equity firm stunned Wall Street by taking over troubled fast food chain Burger King in a $4bn (£2.6bn) deal yesterday. Analysts began talking about a potential wave of takeovers in the restaurant sector after 3G Capital, a New York-based vehicle run by three Brazilian billionaires, agreed a $24-per-share offer with the company’s [...]
McDonald’s US unit weakens November 8, 2010 McDonald’s yesterday reported a weaker-than-expected rise in October sales at US established restaurants as high unemployment keeps plaguing the world’s largest hamburger chain’s key domestic market. October sales at restaurants open at least 13 months were up 5.6 per cent in the US but missed some analysts’ estimates. Despite the macroeconomic weakness that has dented [...]
Burger King sees sales rise on cheap offers February 4, 2010 FAST-FOOD chain operator Burger King Holdings yesterday posted quarterly results that topped analysts’ views, helped by its $1 double cheeseburger offer, more restaurants, lower taxes and deflated food costs. The home of the Whopper reported net income of $50m, or 37 cents a share, for the second quarter ended 31 December. That was up from [...]
Visa pushes new mobile phone payment systems September 19, 2010 VISA will roll out a network that will allow its customers to pay for goods using their mobile phones in time for the 2012 Olympics. The world’s biggest payment processing firm hopes the new technology will allow it to corner the small transactions market, which is still dominated by cash purchases. The firm believes the [...]
Wall St surges as confidence picks up September 1, 2010 WALL Street posted its best day in eight weeks yesterday as investor mood brightened after better-than-expected factory data from the United States and China. Investors jumped on stocks across the market, with more than six shares rising for every one that fell on the New York Stock Exchange, while on the Nasdaq, nearly five stocks [...]