Business News

Tarnished Arches

Those golden arches are not shinning very bright today. McDonald's global same-store sales decreased 2.2% in November.  US performance was down 4.6%, Europe down 2.0% and Asia/Pacific, Middle East and Africa (APMEA) down 4.0%. (Reuters)

Banks are urging some of their largest customers in the U.S. to take their cash elsewhere or be slapped with fees, citing new regulations that make it onerous for them to hold certain deposits. The banks include JPMorgan, Citigroup, and Bank of America.  Clients whose cash they don’t want include large companies hedge funds, insurers and smaller banks. (Wall Street Journal)

As ski season just gets started Vail Resorts reported a quarterly loss of $64.3 million on sales of $128.3 million. Vail Resorts shares have increased 22% since the beginning of the year. (Zacks)

As the media industry continues to change Time Warner’s HBO plans to offer online-only service in the US next year, letting viewers without a cable or satellite-TV subscription tune into their programing. The number of US households that pay for broadband but not TV has climbed to 10 million and is still growing, half of those homes do pay for a streaming service online. (Bloomberg)
 

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