CHICAGO — Shares of McDonald’s Corp. edged higher Wednesday morning, trading at $261.90, up 30 cents, or 0.30%, as of 9:53 a.m. ET, a modest rebound after the fast-food giant’s stock touched a fresh 52-week low earlier this week amid ongoing concerns over slowing U.S. customer traffic.

McDonald’s shares had fallen as low as $260.06 in recent trading, marking a new 52-week low and putting the stock roughly 1% below its previous floor set in late July, according to market data. The decline has come as investors continue to weigh a slowdown in the company’s domestic same-store sales growth against a backdrop of broader consumer pullback affecting several restaurant chains this year.

In its most recent quarterly results, McDonald’s reported U.S. same-store sales growth of just 0.8%, a notable slowdown from the 2.5% gain the company posted in the same period a year earlier, as domestic guest counts declined. Globally, comparable sales rose 1.3% for the quarter, reflecting steadier performance in international markets even as the company’s home market showed signs of strain.

Despite the softer domestic traffic figures, McDonald’s continued its long-running streak of annual dividend increases this week. The company raised its quarterly dividend by 5.1% to $1.86 a share, marking the 26th consecutive year the burger chain has increased its payout to shareholders. The stock’s dividend yield now sits at roughly 3.53%, a figure income-focused investors have increasingly pointed to as a core part of the investment case for McDonald’s even as consumer-facing peers across the restaurant industry pull back on spending and, in some cases, dividend growth.

The stock’s ex-dividend date fell on Sept. 1, meaning investors who purchased shares on or after that date will need to wait a full quarter before receiving the next payment.

McDonald’s dividend increase stands in contrast to moves by some competitors in the space. Wendy’s, for instance, has moved to cut its own payout this year, a divergence that analysts have said reflects differing confidence levels among fast-food operators navigating a more cautious consumer environment.

To help reverse softening domestic traffic, McDonald’s has leaned heavily on limited-time menu offerings throughout 2026. Earlier this year, the company introduced the Big Arch, a double-patty burger featuring white cheddar cheese and a proprietary sauce, which the company said contributed to a 3.9% domestic same-store sales gain in the first quarter. That early-year momentum, however, did not fully carry through to the second quarter, when growth slowed considerably.

The company’s latest push to reignite customer interest came this week with the return of Spicy Chicken McNuggets, which came back to participating U.S. restaurants nationwide starting Sept. 1, alongside a new Mighty Hot Sauce dipping option. The spicy nuggets, coated in a tempura breading made with aged cayenne and chili peppers, first debuted in September 2020 and have returned for several limited-time regional runs since then. The sauce blends crushed red pepper, chilis, garlic and a touch of sweetness.

McDonald’s USA’s official Menu Spotter account marked the return with an enthusiastic message to fans: “We’re so back. And just as spicy as ever.”

The chain is also planning additional new offerings later this year, including a lineup of McCafe-branded energy drinks, iced coffees and fruity refreshers inspired by its short-lived CosMc’s restaurant concept, part of a broader effort to diversify its beverage lineup and attract customers throughout the day beyond traditional meal periods.

Alongside its menu strategy, McDonald’s has also made a significant leadership change in recent weeks. The company named Skye Anderson as president of McDonald’s USA, succeeding Joe Erlinger in the role. Anderson, who has spent 26 years at McDonald’s and most recently served as chief operating officer of McDonald’s USA, takes on the domestic leadership post at a pivotal moment for the company as it works to reverse the traffic declines weighing on its U.S. business.

The broader restaurant industry has faced a more challenging operating environment in 2026, with several major chains announcing store closures amid tighter consumer spending. Pizza Hut, for example, is shuttering more than 250 locations this year, following a wave of closures at Wendy’s in 2024. Analysts have said this competitive backdrop could ultimately work in McDonald’s favor over the longer term, given the company’s scale and continued investment in value-oriented menu options, even as it navigates near-term softness in guest counts.

McDonald’s has also expanded its McValue menu strategy this year, which includes meal deals starting at $5 and a “Buy One, Add One for $1” promotion available at breakfast and lunch or dinner for select items, part of a broader push to reassert its value positioning with cost-conscious consumers. The company has also tested new secret-menu items inspired by viral customer hacks in some international markets, including a Surf N’ Turf burger and a Big Mac sauce dipping option in the United Kingdom, though it remains unclear when, or if, similar offerings might roll out in the United States.

Longer-term investors have increasingly compared McDonald’s performance against faster-growing names in the restaurant sector. According to data compiled by financial analysts, a three-year investment in McDonald’s stock has produced only modest gains, while comparable investments in faster-growing chains such as Cava have delivered substantially higher, if considerably more volatile, returns over the same period.

Despite Wednesday’s modest gain, McDonald’s stock remains down significantly from its 52-week high, reflecting a stretch of lower highs over the past six months as the company works to stabilize its domestic business. Investors will likely continue watching upcoming same-store sales data closely, along with the performance of the company’s newest menu initiatives, for signs of whether McDonald’s traffic slowdown in the U.S. is beginning to reverse or represents a more prolonged challenge for the world’s largest fast-food chain heading into the final months of 2026.

Waymo on Tuesday began welcoming its first public riders in Denver, San Diego and Tampa, expanding its fully autonomous ride-hailing service to 14 cities.

The Alphabet-owned self-driving car company said tens of thousands of people in each newly launched market have already signed up for access. The company plans to gradually add riders before eventually opening the service to all users.

“From coast to coast, we’re focused on making everyday transportation safer, easier and more accessible,” Suzanne Philion, chief marketing officer at Waymo, said in a statement.

“Launching public rides in San Diego, Tampa and in my home state of Colorado brings our newest vehicle platform and next-generation driver to more riders who are ready to experience the future of mobility.”

WAYMO GETS REGULATORY APPROVAL TO SCALE UP ROBOTAXI SERVICE ACROSS CALIFORNIA, ENTER 2 NEW MARKETS

Waymo said its service areas are designed to connect riders with the places they “actually need to go and want to go,” including for errands, rides home from work and late-night trips.

Colorado Gov. Jared Polis praised the Denver launch, saying it expands “clean mobility choices for Coloradans.”

“Colorado is leading the country in clean energy and innovation, and Waymo’s launch helps us achieve cleaner air sooner,” Polis said. “This significant investment expands clean mobility choices for Coloradans. We are proud to support forward-thinking solutions that lead to economic growth and build a safer, cleaner transportation future across our state.”

WAYMO RECALLS NEARLY 4,000 ROBOTAXIS AFTER CARS ENTER FREEWAY WORK ZONES

Waymo said it has spent months preparing for the launches by validating its autonomous driving technology on local roads, working with first responders and partnering with community groups.

The company also cited safety data showing that the Waymo Driver was involved in 94% fewer crashes involving serious injuries or worse than human drivers operating over the same distance.

Waymo has been rapidly expanding its footprint.

WAYMO RECALLS MASSIVE AUTONOMOUS FLEET AFTER INCIDENT FLAGS MAJOR SAFETY ISSUE

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Last month, the company said it plans to scale up service across the San Francisco Bay Area and Los Angeles while launching robotaxi operations in Sacramento and San Diego. It also announced plans to bring Waymo to Munich, Germany.

In February, Waymo opened its fully autonomous ride-hailing service to public riders in Dallas, Houston, San Antonio and Orlando.

FOX Business’ Michael Sinkewicz contributed to this report.

This article was written by

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Available for over a year

BBC Newsnight presenter Paddy O’Connell speaks to Nobel Prize-winning economist Daron Acemoglu about why he thinks liberal democracy is in crisis, and how artificial intelligence could make it worse.

Daron argues that liberal democracy worked because people were given a say in how they were governed and then benefited from their country’s economy as it prospered.

But western governments have made major decisions on issues like immigration without first building public agreement, something which was once important.

In an interview with BBC Newsnight, he says that together, these changes have left many working people feeling that politicians no longer listen to them and have helped to fuel a rise in populism.

Now Daron warns that the way artificial intelligence is developed and used, so far without consensus, could make it worse, by widening inequality and putting people out of work.

“AI is going to transform every aspect of our lives, and we’re not being asked. We have no say in how AI is going to shape our society. I mean people in the UK, people in the US. Even worse for 6 billion people who are outside of the US, UK, China. Their lives are going to be completely reshaped by AI and they have zero say whatsoever,” he says.

The Interview brings you conversations with people shaping our world, from all over the world. The best interviews from the BBC, including episodes with Indian activist Sonam Wangchuk, South African minister Gayton McKenzie and New York Times White House correspondent Maggie Haberman.

You can listen on the BBC World Service on Mondays, Wednesdays and Fridays at 0800 GMT. Or you can listen to The Interview as a podcast, out three times a week on BBC Sounds or wherever you get your podcasts.

Presenter: Paddy O’Connell
Producer: Osman Iqbal
Editor: Damon Rose

(Image: Daron Acemoglu. Credit: Europa Press News via Getty Images)

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Berkshire Hathaway is betting that the artificial intelligence boom will create opportunities well beyond technology stocks, with CEO Greg Abel pointing to the significant growth potential of data centers and energy business in the massive infrastructure buildout needed to power AI, a Reuters report said citing Abel’s interaction with CNBC.

Abel said that Berkshire sees significant opportunities from the expansion of AI data centers, following its decision to make Alphabet its third-largest common stock holding.

Reuters reported that Berkshire ended June with nearly 106 million Alphabet shares worth about $37.8 billion, behind only its holdings in Apple and American Express.

Abel called Alphabet a “significant player” in AI in his interaction with CNBC. He said he and Berkshire Chairman Warren Buffett had authorized an additional $10 billion investment three months ago to support the Google and YouTube parent’s AI infrastructure expansion.

“We are all seeing and feeling the impact” of AI, Abel said.

For Berkshire, the AI opportunity is not confined to its Alphabet stake. The technology’s growing appetite for electricity could also benefit Berkshire Hathaway Energy, as data centers require large and reliable power supplies.
Abel estimated that data centers accounted for about 8% of Berkshire Hathaway Energy’s load in Iowa last year, underscoring how quickly AI infrastructure is becoming a meaningful source of electricity demand.”I’ve sort of always had the strong view that energy would be the constraint,” Abel said. “We do still see it as a significant opportunity for Berkshire and Berkshire Hathaway Energy.”

That creates an unusual link between Berkshire’s technology investment and one of its more traditional businesses. As Alphabet and other technology companies pour money into AI infrastructure, Berkshire can potentially participate through both the companies building the technology and the energy systems required to keep their data centers running.

Reuters reported that Buffett initiated Berkshire’s investment in Alphabet last year, while Abel took credit for the latest purchase, made at a 6.5% discount to Alphabet’s stock price. Abel, with Buffett’s help, oversees Berkshire’s capital allocation and its cash holdings, which stood at $364.7 billion at the end of June.

But Abel’s outlook is not uniformly bullish. He said U.S. consumers remain under pressure from elevated inflation and mortgage rates, while the housing market faces a difficult period.

Berkshire agreed in June to pay $6.8 billion for home builder Taylor Morrison and already owns stakes in Lennar and D.R. Horton. Abel said Taylor Morrison could become a “very strong asset” over the next five to 10 years as more people seek homeownership, even if demand remains subdued in the near term.

“We didn’t see any sign of immediate recovery,” in housing, Abel said. “It was going to be a bumpy road for a while.”

“There’s a consumer that is still clearly feeling the pain, and struggling, and having to stretch a lot further with that dollar,” Abel said.

Abel made the comments from Tokyo, where Berkshire has built a sizeable investment portfolio through stakes of more than 10% in Japanese trading houses Itochu, Marubeni, Mitsubishi, Mitsui and Sumitomo. The company also took a 2.49% stake in insurer Tokio Marine in March as part of a strategic partnership.

Berkshire plans to hold its trading house investments for “many decades,” Abel said, adding that Buffett remains a strong supporter of the strategy.

“Warren absolutely loves the Japanese investments,” Abel said. “It wasn’t easy for Warren that off I went to Tokyo.”

The comments offer an early glimpse of how Abel is deploying Berkshire’s vast capital base: leaning into structural growth opportunities such as AI while continuing to build around energy, housing and long-term investments in Japan.

(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times)

Trading Standards officers in Scotland say they need extra powers to help tackle what they describe as an “explosion” of illegal tobacco sales in high street shops.

The products include counterfeit cigarettes or those smuggled into the country to avoid tax.

Trading Standards link the UK-wide problem to organised crime.

The Scottish government said illicit tobacco is a serious issue and that it’s working with partners about how best to deal with it.

The BBC’s Katie Hunter joined Trading Standards officers on raids in Inverness.

Filmed and edited by Morgan Spence

Most video games treat money as a simple convenience. You defeat enemies, collect coins, and hand them to a shopkeeper.

Path of Exile 2, the action role-playing game from New Zealand studio Grinding Gear Games, does something far more unusual, and the result is an in-game economy that economists and business-minded players study almost like a live financial market, complete with reserve currencies, speculation, inflation and periodic resets. For anyone interested in how digital economies actually function, it is one of the most instructive examples in modern gaming.

Gold Exists, But It is Not The Currency That Matters

The first surprise is that Path of Exile 2 does have a gold currency, yet it plays almost no role in the real economy. Gold cannot be traded between players. It is earned from defeated enemies, chests and vendor sales, and spent only on personal transactions: buying from the game’s own merchants, resetting your character’s skill allocation, and covering the fees on the in-game trade market.

Because gold is bound to each account and never changes hands, it can never become the benchmark that prices everything else. That is a deliberate design decision. By keeping gold out of player-to-player trade, Grinding Gear Games prevents the lazy “sell everything for coins, buy the best item with coins” loop that flattens most game economies, and forces something more interesting to fill the role of real money.

The Real Currency Doubles as a Crafting Tool

What players actually trade with is a family of consumable items called orbs. This is the concept that reshapes the entire economy, because orbs are not only money. They are also the tools used to modify and upgrade equipment.

Each orb has a crafting function: one rerolls an item’s random properties, another adds a socket, another raises an item’s rarity. So every orb a player spends to improve their gear is, quite literally, currency being consumed. That creates a permanent tension that has no equivalent in an ordinary economy: every unit of money is also a productive asset, and spending it to craft means giving up the chance to trade it. That single mechanic is what gives the market its depth, because supply is constantly being burned rather than simply circulated.

It also means prices are quoted in orbs rather than any abstract coin. An item is not worth “500 gold.” It is worth a set number of a particular orb, and which orb sets the price depends on how valuable the item is.

A Market With No Central Authority

The most remarkable feature is that no one sets the prices. There is no official store fixing values and no exchange rate imposed by the developer. Everything is negotiated between players through third-party trade platforms where offers are listed and going rates are checked in real time.

The outcome behaves like any genuine free market. Speculators buy cheaply at the start of a season and sell high once demand builds. Bubbles inflate when a particular character build becomes popular, and everyone chases the same item. Prices collapse when a balance update rewrites the rules and yesterday’s essential item becomes worthless. For a fantasy game about slaying monsters, the volume of authentic economic behaviour on display is striking, and it is why the game attracts a following well beyond typical ARPG fans.

Divine Orbs and The Emergence of a Reserve Currency

Within that system, a clear hierarchy has formed, and it mirrors how real currencies stratify. Common orbs that make minor changes exist in vast quantities and hold little value. Scarcer orbs concentrate the purchasing power, and at the top sits the Divine Orb.

The Divine Orb’s function is to reroll the numeric values on an already-strong item, the final refinement on high-end gear. Because it is both scarce and universally wanted, it has effectively become the economy’s reserve currency, the nearest thing the game has to a gold standard. Expensive goods are priced directly in Divine Orbs, and the Divine’s exchange rate against lesser orbs such as the Exalted Orb rises and falls throughout a season, much as a strong national currency floats against weaker ones. Players track these rates on community pricing tools with the seriousness of a trading desk, and an entire support industry has grown up around the market, from valuation platforms to services where time-poor players can pick up PoE 2 currency instead of farming a stockpile across dozens of hours.

The Scheduled Reset That Keeps The Economy Healthy

The final piece is the league system. Every few months, Path of Exile 2 resets its economy entirely with a new temporary league. Existing characters and accumulated wealth are moved to a separate permanent realm, and the whole player base begins again from nothing at the same moment.

From a business perspective, this is a fascinating mechanism. A periodic, total reset would be unthinkable in the real world, but in a game it solves the problems that plague long-running digital economies. It prevents established players from hoarding an insurmountable lead, guarantees newcomers can enter on equal footing, and forces the market to rediscover its own prices each season rather than calcifying into a fixed hierarchy. It is planned obsolescence turned into a feature, and it is a large part of why the economy stays liquid and active year after year.

Why It Matters

Path of Exile 2’s economy is a case study in deliberate design. Gold is kept personal and untradeable so it cannot dominate; the real currency doubles as a crafting resource, so supply is constantly consumed; Divine Orbs rise to the role of a reserve standard, prices are set entirely by players, and the whole system resets on a schedule to stay fresh. The effect is an in-game market that behaves less like a shop counter and more like a functioning economy, with all the speculation, volatility and opportunity that implies.

MIAMI — Consumer packaged goods veteran Jean-Pierre Comte has joined Brazilian baked foods manufacturer Bauducco as chief executive officer of North America.

Most recently president of Rana Meal Solutions, Comte starts in the new role effective immediately, Sao Paulo-based Bauducco said in announcing his hiring on Sept. 1. With the addition of Comte, Bauducco said International Business Unit CEO Stefano Mozzi becomes CEO of Pandatura Group, which includes the Bauducco, Casa Bauducco, Ellece Logística, Visconti and Tommy brands.

Comte brings more than 30 years of experience in the fast-moving consumer goods (FMCG) sector, as well as a track record for driving sustainable growth, building high-performing teams and executing transformational business strategies, Bauducco noted. He was president of Rana Meal Solutions for more than three years, overseeing US and Canadian operations. Before that, he spent more than 13 years at Barilla Group, most recently as president of the Americas region, in which he led the business across multiple countries and brands. That followed more than 17 years at Procter & Gamble, including sales and marketing leadership roles in Western Europe.

Bauducco, whose US headquarters is in Miami, said Comte joins the company at a key time. In June, Bauducco opened its largest US manufacturing plant in Zephyrhills, Fla. The 160,000-square-foot facility is expected to double production capacity for the US market, sharpen supply chain efficiency, speed the response to changes in market demand, and bring new categories to US manufacturing, including panettone, biscuits and wafers.

“I am honored to lead Bauducco at such an exciting moment in the company’s history,” Comte said. “Joining the Bauducco family is a unique and exciting opportunity to build on a brand with 75 years of global heritage and authentic quality, and I look forward to expanding Bauducco’s presence across North America.”

A 16-year veteran of Bauducco, Mozzi has extensive experience in its global operations, including fueling steady performance in the United States and playing an integral role in advancing the brand’s international expansion, the company said. In his new role, he is charged with leading Bauducco’s next growth phase and accelerating its globalization.

“Jean-Pierre is exactly the leader Bauducco needs at this critical juncture in our North American journey,” said Mozzi, who is global CEO and has 30 years of experience in consumer goods. “His track record demonstrates consistent excellence in brand building, portfolio innovation, customer relationships and team development — skills that are fundamental to accelerating Bauducco’s expansion in an increasingly competitive US market.”

The Zephyrhills plant is being developed in three phases, with the second phase slated to go into operation by 2028 and the third phase by 2030, according to Bauducco. At full production, the facility is expected to employ over 600 people.