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Minnesota Awesome celebrates state pride, Olympian Suni Lee

Minnesota Awesome, founded by Dan and Mike Gordon, creates high-quality apparel celebrating Minnesota's unique culture and pride. The company offers designs that resonate with locals, including shirts honoring Olympic gymnast Suni Lee, which have proven to be popular.

kare11.com

An off-site session of the Eastern Economic Forum was held in Hong Kong | Taiwan News | Jul. 25, 2024 21:35

An off-site session in Hong Kong on July 24-25 focused on enhancing trade and economic ties between Russia and Hong Kong. Entrepreneurs from Hong Kong plan to showcase investment projects at EEF-2024. The session included meetings with major business associations, highlighting Hong Kong's role as a global financial center and discussing sectors for cooperation such as electronics and agriculture. The Eastern Economic Forum will take place from September 3 to 6, 2024, in Vladivostok.

Taiwan News

Netflix Co-Founder Reed Hastings Gifts $500 Million in Stock to Silicon Valley Charity Group

Reed Hastings, co-founder of Netflix, donated 790,000 shares worth approximately $500 million to the Silicon Valley Community Foundation, marking his second donation to the organization this year. After this transaction, he retains over 2.2 million shares valued at nearly $1.4 billion.

Media Play News

As Olympics Begin, Live Sports Is the Key to Peacock's Long-Term Growth | Chart

Comcast's streaming service, Peacock, reported a mixed earnings result with a decrease of 500,000 subscribers in Q2, totaling 33 million subscribers, a 38% increase from last year. Revenue grew to $1 billion, and losses narrowed to $348 million. The upcoming Paris Summer Olympics is expected to boost sign-ups significantly.

TheWrap

Chinese firm Fuyao raided in US over alleged financial crimes and labour abuse

Special agents from multiple US law enforcement agencies are investigating Fuyao Glass America for allegations of financial crimes and labor exploitation. The investigation involves search warrants executed at the Fuyao plant in Ohio and other locations, focusing on money laundering and potential human smuggling. Fuyao confirmed cooperation with the investigation, which has raised concerns amid US-China tensions and could impact the upcoming presidential election.

South China Morning Post

McDonald's same-store sales fall for the 1st time since pandemic, profit slides 12%

McDonald's reported a 1% decline in same-store sales globally for the second quarter, marking the first drop since late 2020. The decrease was attributed to fewer customer visits, particularly in the U.S., China, and other regions, amid rising inflation and perceptions of the company's political stance. Despite fewer customers, those who visited spent more due to price increases. Quarterly revenue remained flat at $6.5 billion, slightly below expectations, and net income fell 12% to $2 billion.

ABC News - Breaking News, Latest News and Videos

McDonald's earnings, revenue miss estimates as consumer pullback worsens

McDonald's reported a decline in quarterly earnings and revenue, with same-store sales down 1% across all divisions. The fast-food chain's net income fell to $2.02 billion, and U.S. same-store sales decreased by 0.7%. The company is facing increased competition and has introduced discounts to attract customers, while international markets also experienced sales declines.

CNBC

McDonald's misses Q2 estimates across the board, as consumers pull back on dining out

McDonald's Q2 earnings fell short of Wall Street expectations, with revenue at $6.49 billion and adjusted earnings of $2.97. Same-store sales declined globally for the first time since Q4 2020, driven by decreased foot traffic and challenging macro conditions. The company is focusing on value offerings, including a $5 meal deal, to attract customers amidst rising prices. Analysts express concerns about the effectiveness of these initiatives in boosting sales growth in the near term.

Yahoo Finance

McDonald’s Sales Fall in First Since 2020 as Traffic Drops

McDonald’s Corp. experienced a sales decline for the first time since 2020 in the second quarter, with comparable sales down 1% year-over-year across all geographic segments, primarily due to reduced foot traffic in the US despite higher prices.

Bloomberg

McDonald's posts weak quarterly results as higher fast food prices hurt demand

McDonald's reported a 1% decline in global sales for the second quarter, marking its first drop in 13 quarters, as higher menu prices deterred cash-strapped customers. The company plans to extend its $5 meal deal to attract more visitors, but faces challenges from inflation and competition from rivals. U.S. comparable sales fell 0.7%, and international sales dropped 1.1%, with significant impacts from the Middle East conflict and a slower recovery in China.

Fox Business