đ 50,000 McDonaldâs
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Apple has a hardware solution to its sales problem. The company hopes new iPads and Macs, products that account for 15% of its revenue, will entice consumers.
Italy dropped out of the Belt and Road initiative. The program, which sought to deepen Chinaâs international ties through infrastructure developments, didnât live up to its promises.
Twitch is shutting down in South Korea at the end of February. The streaming siteâs CEO said the service is too expensive to run in the country.
The Bank of England will assess AIâs effect on the UKâs financial system. A report due out next year will outline threats and risks.
Volkswagen didnât find any evidence of forced labor at its plant in Chinaâs Xinjiang region. An audit commissioned by the German carmaker looked into claims of human rights violations in the area.
McDonaldâs has 50,000 on the mind
Worldwide, McDonaldâs owns more than 40,000 locations. By 2027, itâd like that number to be 50,000.
Most of that crazy-fast growth is expected to take place outside of its biggest market, the US. More than a third of the 10,000 new restaurants are planned for China, closing the gap between the burger chainâs top two markets.
McDonaldâs isnât the only fast food brand expanding its footprint in China.
A pleated and steamed return-to-office indicator
As Americaâs white-collar employees head into the office again, theyâre trying to dress the partâand thatâs helping bring in revenue to clothing rental service Rent the Runway.
The companyâs latest earnings report wasnât entirely wrinkle-free. Revenue and profits both came in below analyst expectations at $72.5 million and $3.5 million, respectively. But the company has seen the trudge back to the office positively affect growth, and expects to soon get back to its pre-pandemic upward trajectory.
The sports jackets of Wall Street, however, werenât quite as convinced that the company still wonât have a few wardrobe malfunctions.
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Our best wishes for a productive day. Send any news, comments, invisible diamond dust, and ground-penetrating lasers to [email protected]. Todayâs Daily Brief was brought to you by Morgan Haefner.