Business
How Path of Exile 2 Built a Player Economy That Behaves Like a Real Market
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.
Business
Teams, Outlook And OneDrive Disruptions Persist Into A Third Day For Users
A widespread outage affecting Microsoft 365 stretched into its third day this week, with users of Outlook, Teams, SharePoint and OneDrive for Business continuing to report intermittent access problems even as Microsoft said the vast majority of the disruption had been resolved.
The outage, which Microsoft is tracking internally under the incident number MO1465074, began at 3:08 p.m. UTC on Monday, Aug. 31, according to the company. Microsoft attributed the root cause to a problem within a core authentication configuration shared across multiple Microsoft 365 services, rather than an issue isolated to any single product.
“The root cause of the outage is an issue within a core authentication configuration used by multiple Microsoft 365 services,” the company said in a status update, adding that the disruption had triggered a broader service degradation designation for Microsoft 365 Business and Enterprise customers.
Outlook was among the first and most visibly affected services, with users reporting delays and outright failures in sending and receiving email, along with authentication errors and problems searching mailbox content. User reports on the crowdsourced outage-tracking site Downdetector began surging around 11:30 a.m. ET on Monday and had climbed past 5,000 by early afternoon, with additional complaints flooding social media platforms throughout the day.
Microsoft said its investigation initially pointed to a misconfiguration affecting how authentication components were deployed across a portion of its infrastructure.
“Our investigation indicates that a misconfiguration issue may be preventing authentication components from deploying as expected to a portion of infrastructure, and we’re reexamining recent changes made to the service to determine why this is occurring,” the company said in an update posted to its Microsoft 365 Status account.
As the outage continued into Monday evening, Microsoft confirmed that its impact extended well beyond Outlook and Exchange Online, the email and calendaring backbone used by millions of businesses. The company said OneDrive for Business, SharePoint Online, Microsoft Teams, Microsoft Purview and Microsoft Defender XDR were also affected, along with the Microsoft 365 Admin Center and Universal Print.
“Additionally, we’ve confirmed that the authentication component issue impacts other services beyond Exchange Online,” Microsoft said, directing customers to its status page for details on the specific ways each affected service was behaving.
By Tuesday, the outage had not fully resolved, prompting Microsoft to continue publishing incremental updates as engineers worked through a remediation process that included restarting affected infrastructure and reapplying a targeted fix to the authentication systems at the center of the problem.
“Our mitigation actions are continuing to progress within the remaining affected infrastructure,” Microsoft said in a Tuesday update. “Indications from telemetry remain positive, and we’ve confirmed service availability is improving. We’re entering a period of extended monitoring to ensure a full resolution is in place.”
The company’s messaging throughout the incident emphasized gradual, uneven recovery rather than a single clean fix, a pattern consistent with prior large-scale Microsoft 365 outages that have often required extended monitoring periods even after initial telemetry data showed improvement.
By early Wednesday morning, Microsoft indicated that conditions had stabilized significantly for most customers.
“Service availability remains stable above 99 percent,” Microsoft said in a status update posted at 6:29 a.m. ET Wednesday, adding that “the majority of users should no longer be seeing impact from this issue.”
Even so, scattered reports of ongoing trouble continued to surface into Wednesday, including separate tracking on outage-monitoring sites showing renewed spikes in complaints specifically tied to Microsoft Teams, suggesting that while the broader authentication issue had largely subsided, some customers and services continued to experience residual effects.
Microsoft 365, the cloud-based subscription suite formerly known as Office 365, provides access to core productivity applications including Word, Excel, PowerPoint, Outlook and Teams, along with enterprise-focused services such as SharePoint and OneDrive that many businesses rely on for document storage, collaboration and internal communication. Because so many organizations depend on these tools for day-to-day operations, outages affecting the platform tend to generate an outsized wave of public complaints and business disruption relative to their technical scope, particularly when authentication systems are involved, since login failures can lock users out of multiple services simultaneously rather than affecting a single isolated feature.
This week’s incident adds to a string of significant Microsoft 365 disruptions in 2026. In January, a separate outage tied to authentication and mail-flow problems in North American infrastructure stretched for roughly ten hours, affecting Outlook, Defender and Purview before Microsoft confirmed the impact had been resolved. At the peak of that earlier incident, outage reports on Downdetector topped 15,000, with some affected businesses describing significant disruption to daily operations, including delayed communications with clients.
Independent monitoring services that track Microsoft 365’s uptime over time have noted that the platform has experienced a handful of major disruptions each year in recent years, with durations typically ranging from a few hours to, in more severe cases, closer to a full day. Analysts who study cloud infrastructure reliability have pointed to the increasing complexity of large, interconnected cloud platforms as a persistent challenge for major providers, even as those same companies continue investing heavily in redundancy and failover systems designed to prevent exactly this kind of widescale service degradation.
Microsoft has not yet published a full post-incident report detailing the underlying technical root cause of this week’s authentication misconfiguration or outlining specific steps the company plans to take to prevent similar disruptions in the future. Such detailed retrospectives typically follow major outages after monitoring periods conclude and engineering teams complete a full review of the incident.
For now, Microsoft has continued to direct affected customers to its official Microsoft 365 Status page and social media account for the most current information as monitoring continues, while cautioning that some users may still experience intermittent effects even as overall service availability holds above the 99% threshold the company reported Wednesday morning.
Business
Phreesia, Inc. (PHR) Q2 2027 Earnings Call Transcript
Operator
Good evening, ladies and gentlemen, and welcome to the Phreesia Second Quarter Fiscal 2027 Earnings Conference Call. [Operator Instructions] First, I would like to introduce Balaji Gandhi, Phreesia’s Chief Financial Officer. Mr. Gandhi, you may begin.
Balaji Gandhi
Chief Financial Officer
Thank you, operator. Good evening, and welcome to Phreesia’s earnings conference call for the second quarter of fiscal 2027, which ended on July 31, 2026. Joining me on today’s call is Chaim Indig, our Chief Executive Officer. A more complete discussion of our results can be found in our earnings press release and in our related Form 8-K submission to the SEC, including our quarterly stakeholder letter, both issued after the markets closed today. These documents are available on the Investor Relations section of our website at ir.phreesia.com.
As a reminder, today’s call is being recorded, and a replay will be available on our Investor Relations website at ir.phreesia.com following the conclusion of the call. During today’s call, we may make forward-looking statements, including statements regarding trends, our anticipated growth, our strategies, predictions about our industry and the anticipated performance of our business, including our outlook and visibility regarding future financial results.
Business
Almost half of households do not see benefits of economic growth, report says
Almost half of people in Britain live in areas where economic growth does not translate into a better quality of life with a “stark” North-South divide in the spending power of households, a new report finds.
Researchers at consultancy firm PwC said every region the north of England, midlands and Wales had a lower spending power than the country’s average, with London and the South East comfortably above.
The findings come as Prime Minister Andy Burnham has pledged to tackle the cost of living and regional inequalities in order to boost living standards.
But questions remain over the new PM’s economic policies with surges in UK government borrowing costs set to impact public spending choices.
The report released on Thursday said the equivalent of 12.5 million households – 46% – lived in parts of the country where economic growth, often seen through increased business investment and job opportunities, were not leading to better living standards.
It said households in the north east of England had a spending power 6.6% below the national average, equivalent to £1,542 less a year. The north west was £1,493 less, while Yorkshire and the Humber were worst off with spending power down £1,917 comparatively.
Meanwhile, households in the South East were found to have spending power 9% above the national average, worth an additional £2,154 a year, followed by London.
Household spending power is seen as a good measure of whether economic growth is improving living standards.
PwC says it measures this by looking at income after taxes and housing costs, and takes into account the size and makeup of a household – which is aimed at giving a better idea of the money available to meet other expenses.
The UK has seen years of weak growth, although the economy expanded by 1.2% in the first six months of this year, according to official figures.
Most countries want economic growth because it usually means people spend more, extra jobs are created, more tax is paid to the government and workers get better pay rises.
All this together, in theory, leaves people better off – but it takes time for the benefits to be felt, and it does not necessarily benefit everyone. According to PwC, “only a fraction” of a rise in GDP – which a measures economic growth – leads to increased spending power.
Researchers said while there was a clear North-South divide in the spending power of households, there were also such examples of spending power differences within areas deemed better off, such as London and the south east.
For example, Richmond’s average annual disposable income was the highest in London at £35,448 – almost double the £18,384 recorded in neighbouring Hammersmith and Fulham.
“The research shows just how differently prosperity is experienced across the UK, with stark variations not only between regions but on each other’s doorstep,” said Rachel Taylor, government and health industries leader at PwC.
Business
AI infrastructure investment is set to reach $31.6T by 2050
Tricia McLaughlin explains how data centers in Loudoun County, Virginia, have allowed the community to slash property taxes by 30 percent while funding state-of-the-art schools, hospitals and community centers.
The rapid buildout of artificial intelligence (AI) infrastructure is expected to accelerate in the years ahead, with a new analysis projecting investment in the sector will top $31 trillion through 2050.
A report by PwC projects that capital expenditures on AI infrastructure will reach $31.6 trillion by 2050 as companies invest in building the computing capacity to power models, as well as upgrade the tech as it advances.
It added that the $31.6 trillion estimate represents the central scenario within a plausible range of about $22 trillion to nearly $50 trillion.
Annual investment in data centers is expected to rise from roughly $800 billion a year in 2026 to $1.8 trillion per year in 2050.
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Investment in data centers is expected to top an estimated $31.6 trillion by 2050, according to an analysis by PwC. (Tom Fox/The Dallas Morning News via Getty Images)
“AI infrastructure is becoming one of the defining capital allocation challenges of the next generation. It cuts across technology, energy, real estate, supply chains, regulation and financing. This changes how infrastructure investors need to think about capital requirements, risk and returns,” said Clara Cutajar, global infrastructure leader at PwC Australia.
The Americas are projected to account for $16.5 trillion of the $31.6 trillion in estimated investment through 2050, with the U.S. alone accounting for about $15.1 trillion – or about 48% of the global total.
Cumulative capex in the Americas could rise to $27.1 trillion through 2050 in the upside scenario.
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The report said the Americas would receive $16.5 trillion in investment through 2050 in the central estimate, with an upside of $27.1 trillion. (Amanda Andrade-Rhoades for The Washington Post via Getty Images)
PwC wrote that the “lead in AI infrastructure is wider than in any major industrial category since postwar manufacturing. That’s because the U.S. remains central to the advanced chip ecosystem and is home to the largest AI model developers, hyperscalers, and AI-native businesses.”
“Talent, capital, and new ventures continue to cluster around that base, and facilitative state-level policy compounds the country’s lead,” it added.
The report said that of the $31.6 trillion estimate, the Asia-Pacific region would account for $8.2 trillion in cumulative capex through 2050.
China and India are the largest sources of demand, owing to their large populations, rapidly expanding digital economies, and headroom for AI to embed in business and consumer activity.
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The level of investment in AI infrastructure is projected to vary across different regions of the world. (Lexi Critchett/Bloomberg)
Europe’s share of the cumulative capex estimate would be $5.6 trillion through 2050, well below its proportion of global GDP, due to power constraints, planning friction and fragmented regulation across countries.
The Nordic countries were cited as a credible alternative to constrained Western European hubs, given their energy grids that are heavy on renewables and have electricity prices 40%-50% below other parts of Europe, as well as climates that reduce cooling loads.
Other regions detailed in the report include the Middle East, which would see an estimated $1.1 trillion in cumulative capex through 2050, while Africa would see $255 billion over that period.
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“The AI buildout is not a rising tide that will naturally lift all boats. Capturing this investment requires active positioning. Investors should recognize data centers as hybrid assets with a complicated risk profile,” Cutajar said.
Business
JetBlue reveals its new domestic first-class seats
Virtuoso Vice President Misty Belles joins Cheryl Casone on Mornings with Maria to analyze the post-pandemic surge in luxury travel sales. Belles breaks down top global destinations, the rise of wellness travel, and fall booking trends.
JetBlue on Tuesday unveiled a new domestic first-class experience that will be available for booking this fall.
The new offering, called BlueFirst, will feature redesigned seats, premium amenities and upgraded seatback technology, the airline said.
“Domestic first class has become easy to predict. We think it’s time for a fresh take,” JetBlue CEO Joanna Geraghty said in a statement.
“Customers are increasingly looking for more premium experiences, and BlueFirst gives them an elevated experience that feels distinctly JetBlue, with thoughtful touches, caring service and great value.”
CALIFORNIA AIRPORT CONSIDERING SCRAPPING POST-9/11 POLICY THAT BARRED GOODBYES AT TERMINAL GATES

JetBlue unveiled a new domestic first-class experience that will be available for booking this fall. (Al Drago/Getty Images)
The first aircraft featuring JetBlue’s new BlueFirst cabin is expected to enter service later this year.
The redesigned seats will be arranged in a two-by-two configuration and offer 5 inches of recline and up to 7 additional inches of legroom compared with JetBlue’s standard economy seats.
The seats will also feature Tuft & Needle foam designed to “offer each customer personalized support and responsive pressure relief throughout the flight,” the airline said.
Travelers will also have access to 13.3-inch seatback screens with Bluetooth connectivity, free Fly-Fi internet and USB-A, USB-C and AC power outlets.
JetBlue’s BlueFirst cabin features 13.3-inch seatback screens with Bluetooth connectivity, free Fly-Fi Wi-Fi and in-seat power outlets.
BlueFirst passengers on overnight flights will receive a blanket and snooze kit.
“Customers told us loud and clear that comfort matters most, so that’s where we started,” Geraghty added.
The cabin will also feature seatback ordering and a “Mixologist Mode,” allowing passengers to create custom cocktails.
On flights of 899 miles or longer, customers will receive a meal featuring an entrée, side and dessert.
The airline will also offer rotating premium snacks, sommelier-selected wines, specialty coffee and teas.
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The first aircraft featuring JetBlue’s new BlueFirst cabin is expected to enter service later this year. (Joe Raedle/Getty Images)
Additionally, BlueFirst customers will receive Group 1 boarding, dedicated overhead-bin space, priority check-in, expedited security access at more than 30 airports, two free checked bags and priority baggage delivery, according to JetBlue.
Change and cancellation fees will be waived on BlueFirst and BlueFirst Flex fares.
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JetBlue said BlueFirst will be offered in markets where it does not currently operate Mint, its premium business-class cabin.
The airline said it plans to announce additional details later this year.
Business
Scorpio Gold Shares Rocket 129% As Newly Listed Nasdaq Micro-Cap Extends Volatile Debut-Week Rally
VANCOUVER, British Columbia — Shares of Scorpio Gold Corporation surged more than 129% Wednesday morning, extending a wildly volatile first week of trading for the small-cap Canadian gold miner just two days after its American Depositary Shares began trading on the Nasdaq Capital Market.
Scorpio Gold’s ADSs, which trade under the ticker SGLD, jumped $6.57 to $11.66 as of 9:34 a.m. ET Wednesday, according to market data, marking a second consecutive session of extreme price swings for the newly listed security. The move came just one trading day after the stock gained nearly 300% on its Nasdaq debut Tuesday, according to market tracking services monitoring the stock’s early performance.
The dramatic price action follows Scorpio Gold’s formal transition onto U.S. markets. The company’s ADSs commenced trading on Nasdaq effective at the opening of trading on Sept. 1, 2026, after the exchange approved the listing in late August. Each ADS represents 20 common shares of the Vancouver-based company, with the Bank of New York Mellon serving as depositary for the program.
In conjunction with the Nasdaq listing, Scorpio Gold’s trading symbol on the TSX Venture Exchange, its home Canadian market, also changed from “SGN” to “SGLD,” unifying the company’s ticker across both markets. The shares continue to trade as well on the OTCQB Venture Market under the symbol “SRCRF” and on the Frankfurt Stock Exchange under “RY9.”
Scorpio Gold said the Nasdaq listing was designed to broaden the company’s access to American investors without requiring a share consolidation, a structural approach the company said preserved its existing capital structure for current shareholders while still meeting Nasdaq’s initial listing requirements.
Zayn Kalyan, Scorpio Gold’s chief executive officer and a director of the company, described the listing as a pivotal step in the company’s growth strategy when it was first announced.
“Listing on NASDAQ is a defining milestone for Scorpio Gold,” Kalyan said. “The United States is home to the deepest pool of capital in the world, and this listing places the Company squarely in front of that audience — without a share consolidation and without disrupting the capital structure our existing shareholders have supported.”
Kalyan added that the timing of the listing coincided with favorable conditions in the broader gold market, pointing to macroeconomic trends he said were reinforcing investor interest in the sector.
“We are doing this against the backdrop of one of the strongest gold markets in a generation, underpinned by a powerful macro case for de-dollarization as central banks and investors alike seek harder assets,” Kalyan said, adding that a single “SGLD” ticker across both the U.S. and Canadian markets would give investors “one clear identity for the Company as we enter this next phase of growth.”
Scorpio Gold’s core business centers on the exploration and development of mineral resource properties in the United States, with its flagship holding being a 100% interest in the Manhattan District, located in the Walker Lane Trend of Nevada. The roughly 4,780-hectare property includes the advanced exploration-stage Goldwedge Mine, along with the Kinross Manhattan properties and the Keystone and Jumbo gold deposits.
Market analysts who track newly listed small-cap stocks have noted that extreme volatility of the kind seen in Scorpio Gold’s shares this week is a common pattern among micro-cap companies transitioning onto major U.S. exchanges, particularly those with relatively small public floats and limited trading history on American markets. Thin trading volume in a stock’s early days on a new exchange can amplify price swings in both directions, as relatively small buy or sell orders move the price disproportionately compared with more heavily traded, established securities.
Scorpio Gold’s rapid share price gains this week have also unfolded against a broader backdrop of strength in gold prices, which have climbed sharply over the past year as investors have sought safe-haven assets amid persistent inflation concerns, geopolitical tensions and continued gold purchases by central banks around the world. That environment has generally proven favorable for gold mining and exploration companies, whose share prices often move in tandem with, and sometimes amplify, swings in the underlying price of the metal itself.
The company has separately disclosed an ongoing engagement with Investor Insights Systems Inc., a Vancouver-based firm providing digital marketing services including content creation, search engine marketing, pay-per-click advertising and market awareness campaigns. Scorpio Gold said the extended agreement, initially announced earlier this year, was intended to support broader visibility for the company as it works to build awareness among investors following its cross-border listing.
Trading in newly listed micro-cap stocks on Nasdaq has drawn increased scrutiny in recent years, as sharp early price swings in thinly traded names have occasionally prompted questions from market watchers about volatility, liquidity and the mechanics behind rapid share price appreciation shortly after a listing. Nasdaq maintains ongoing monitoring processes for newly listed securities, and companies experiencing significant and sudden price volatility are sometimes required to address unusual market activity through public disclosures, though Scorpio Gold had not issued any such statement addressing Wednesday’s price movement as of midmorning trading.
With the stock’s share price nearly doubling over just two trading sessions, Scorpio Gold’s market capitalization has climbed sharply since its Nasdaq debut, though the company’s underlying operations, centered on its Nevada-based gold exploration assets, have not changed materially since the listing took effect. Investors and analysts will likely be watching closely in the coming days to see whether the stock’s dramatic early gains prove durable or give way to a pullback, a pattern that has played out with other newly listed small-cap resource companies that have experienced similarly outsized initial trading activity following a major exchange listing.
Scorpio Gold’s common shares continue to trade in parallel on the TSX Venture Exchange in Canada, where the stock’s price action Wednesday broadly mirrored the sharp gains recorded on Nasdaq, reflecting the unified ticker structure the company implemented as part of its cross-border listing strategy.
Business
McDonald’s Stock Ticks Higher After 52-Week Low As Dividend Hike, Menu Revamp Aim To Boost Sales Growth
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.
Business
Waymo opens robotaxi rides to public in Denver, San Diego and Tampa
‘Barron’s Roundtable’ panelists discuss the growth of autonomous ride-shares and what Waymo’s success means for the industry.
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 on Tuesday began welcoming its first public riders in Denver, San Diego and Tampa, expanding its fully autonomous ride-hailing service to a total of 14 cities. (John J. Kim/Chicago Tribune/Tribune News Service via Getty Images)
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 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. (Smith Collection/Gado/Getty Images)
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

Waymo said it has spent months preparing for the launches. (Justin Sullivan/Getty Images)
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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.
Business
UTF: The 7.3% Yield Comes With A New AI Power Risk (NYSE:UTF)
I am a corporate finance professional with over ten years of experience in financial planning, capital budgeting, and risk assessment. As a long-term investor, I invest exclusively in funds and do not pick individual stocks. My approach is evidence-based: low costs, broad diversification, strategic asset allocation, and patience through market cycles. My motivation for writing is twofold: first, to help other long-term investors, especially women and those new to fund investing. I focus on what truly drives returns: costs, diversification, and time in the market. Second, to bring rigorous, data-driven fund analysis to a platform often dominated by single-stock commentary. I write to learn, share, and build a community of patient investors who value sleeping well at night over chasing short-term gains.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Business
The Interview – Daron Acemoglu, Economist: Liberal democracy is in crisis
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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