By Savyata Mishra (Reuters) - McDonald’s (NYSE:MCD) posted a surprise drop in first-quarter global comparable sales on Thursday, as demand from cash-strapped diners in the U.S. and Europe faltered on uncertainty sparked by chaotic tariffs. The world’s largest fast-food chain is navigating the "toughest of market conditions", CEO Chris Kempczinski said as restaurant visits by lower- and middle- ...
By Manya Saini DUBAI (Reuters) - Bank of New York Mellon (NYSE:BK) has received a licence to set up a regional headquarters in Saudi Arabia, it said on Thursday, joining others lured by incentives as the kingdom seeks to boost its appeal as a financial hub. WHY IT’S IMPORTANT Riyadh has been looking to attract more companies to set up their regional headquarters in the kingdom by offering tax ...
Investing.com -- UBS is urging investors to tread cautiously in equity markets as a global trade shock unfolds, warning that rallies in stocks, particularly across emerging markets (EM), should be sold rather than chased.“Equities: Sell rallies / buy protection as trade shock sets in,” UBS analysts wrote in a recent strategy note led by Manik Narain. The firm sees elevated tariffs an ...
Investing.com -- Kevin Hassett, a White House economic adviser, expressed hope for progress in trade discussions with China, during his appearance on CNBC’s "Squawk Box" program on Thursday. He highlighted China’s recent steps towards reducing some tariffs as a positive sign of potential advancement in the negotiations.Hassett mentioned that there have been "loose discussions" between the two ...