Subscribe to our free daily newsletters
  Energy News  




Subscribe to our free daily newsletters



TRADE WARS
McDonald's to nearly double outlets in China
by Staff Writers
Beijing (AFP) Aug 8, 2017


Fast food giant McDonald's said Tuesday it would almost double the number of restaurants in China over the next five years as it refocuses on international markets amid slowing US sales.

The Illinois-based burger chain will add 2,000 stores to its current 2,500 in China and aim for double-digit sales growth in each of the next five years, McDonald's said in a statement.

In particular, it will launch a foray into third- and fourth-tier cities, where it expects 45 percent of its China restaurants to be located by that time.

More than 75 percent of its stores will offer delivery.

It made the announcement while also saying it had finalised a strategic partnership with Chinese conglomerate CITIC Ltd and US-based investment firm Carlyle Group.

McDonald's announced earlier this year that it would form a company with CITIC Limited, CITIC Capital Holdings and Carlyle Group to act as a franchisee for the chain's business in mainland China and Hong Kong for 20 years.

CITIC is a vast Chinese state-owned conglomerate with interests ranging from energy and manufacturing to real estate.

The new partnership becomes the largest McDonald's franchisee outside the US.

"China will soon become our largest market outside of the United States," McDonald's president and CEO Steve Easterbrook said in the statement.

McDonald's has been overhauling its global structure under Easterbrook to compensate for slower growth in markets such as France and the United States.

McDonald's sales took a hit in recent years as tensions over the South China Sea dented US companies' earnings in China.

Its China business also suffered a blow in 2014 after a food safety scandal involving one of its meat suppliers.

In the China market, McDonald's also faces competition from fast-food market leader KFC.

TRADE WARS
Chinese export, import growth rates slow in July
Beijing (AFP) Aug 8, 2017
Chinese trade growth slowed significantly in July compared to the previous month, official data showed Tuesday, coming in well below expectations after months of steady momentum. Analysts said that while export and import rates were still robust year-on-year, the latest data indicated a downward trend. Exports rose 7.2 percent year-on-year to $193.65 billion, the customs administration s ... read more

Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
India must rethink infrastructure needs for 100 new 'smart' cities to be sustainable

Allowable 'carbon budget' most likely overestimated

Sparkling springs aid quest for underground heat energy sources

Google's 'moonshot' factory spins off geothermal unit

TRADE WARS
BAE Systems installing heat and power plant at Portsmouth, England

Metal clouds to protect fusion reactor walls from heat flux

How the electrodes of lithium-air batteries become passivated

Study reveals exactly how low-cost fuel cell catalysts work

TRADE WARS
Vertical axis wind turbines can offer cheaper electricity for urban and suburban areas

Annual wind report confirms tech advancements, improved performance, low wind prices

U.S. wind power momentum up 40 percent from last year

Shale-rich Oklahoma to host mega-wind farm

TRADE WARS
Solar glasses generate solar power

New method enhances broadband light absorption in solar cells

Lightweight catalyst for artificial photosynthesis

A new picture emerges on the origins of photosynthesis in a sun-loving bacteria

TRADE WARS
The Roadmap for Increased Safety and Viability of Nuclear Power Plants

Areva signs MOX fuel fabrication contract with Japan

Construction of two nuclear power plants in US halted

Nuclear contaminates earnings of France's EDF

TRADE WARS
Additive selectively converts CO2 to multicarbon fuels

New light-activated catalyst grabs CO2 to make ingredients for fuel

Biochar could clear the air in more ways than one

Algae cultivation technique could advance biofuels

TRADE WARS
High demand means higher gasoline prices, report finds

Oil prices relatively even on wait-and-see Tuesday

United Arab Emirates, an OPEC member, eyes more oil production

Libyan oil production issue resolved

TRADE WARS
Small odds of reaching 2 C climate goal: researchers

Could spraying particles into marine clouds help cool the planet

Al Gore: I've given up on climate 'catastrophe' Trump

Could a geoengineering cocktail control the climate




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement