25 Jan '11, 3am

McDonald's plans to raise prices in 2011 to help offset rising food costs

McDonald's plans to raise prices in 2011 to help offset rising food costs

McDonald's said it planned to raise prices in 2011 to offset rising food costs. -- PHOTO: AFP LOS ANGELES - MCDONALD'S Corp plans to raise prices this year to help offset an expected rise in its grocery bill for the 10 commodities that account for around 75 per cent of its food preparation costs. Food prices are rising around the globe and the comments from the world's biggest restaurant chain overshadowed weaker-than-expected December sales at established European and US restaurants, as poor weather hurt demand, and a reported fourth-quarter profit that was in line with expectations. McDonald's expects its costs to rise 2 per cent to 2.5 per cent this year in the United States and 3.5 per cent to 4.5 per cent in Europe. Beef, chicken, pork, bread and milk products, paper, cola, ketchup and other sauces, and fruits and vegetables top McDonald's US shopping list. Chief Fina...

Full article: http://www.straitstimes.com/BreakingNews/World/Story/STIS...

Tweets

Singapore: Bakeries raise prices as cost of whe...

Prima, the only flour miller and the largest flour supplier here, has raised prices for the second time in three months. T...

Global shortage of wheat whips up the prices of bread, cakes and other flour-based products sold in Singapore

Global shortage of wheat whips up the prices of...

straitstimes.com 22 Jan '11, 2am

Other commodities cost more too Soya beans Soya beans now cost US$880 (S$1,130) a tonne, up from US$600 a year ago. The re...

India to raise key rates again

India to raise key rates again

channelnewsasia.com 23 Jan '11, 6am

NEW DELHI: India's central bank is expected this week to hike interest rates for the seventh time in less than 12 months t...

Food prices around the world are soaring - but experts warn that consumers should expect prices to rise even further

Food prices around the world are soaring - but ...

straitstimes.com 06 Feb '11, 5am

A vendor arranges fish for sale inside a wet market in Pasay city, metro Manila. -- PHOTO: REUTERS WASHINGTON - FROM McDon...

Food prices expected to stabilise in next few m...

todayonline.com 23 Jan '11, 10pm

SINGAPORE - Allaying concerns over the rising food prices, Prime Minister Lee Hsien Loong said yesterday that he expects p...

Prices of food items should stabilise: PM Lee

Prices of food items should stabilise: PM Lee

channelnewsasia.com 23 Jan '11, 10am

SINGAPORE: Prime Minister Lee Hsien Loong expects food prices to stabilise in the next few months. Speaking at a community...

Caltex, Esso and Shell raise pump prices (via S...

straitstimes.com 18 Jan '11, 11pm

Caltex has increased pump prices of all grades of petrol and diesel by $0.04 per litre. -- PHOTO: CHEVRON OIL companies Ca...

[CNA] PM Lee says government has more scope to ...

channelnewsasia.com 01 Feb '11, 10pm

, Prime Minister Lee Hsien Loong said the government has more scope to implement schemes after last year's strong economic...

China economy may grow 9.8% in 2011

China economy may grow 9.8% in 2011

channelnewsasia.com 23 Jan '11, 8am

BEIJING: A Chinese government think tank has forecast the nation's economy will grow around 9.8 per cent this year, with i...

Rising ingredient and labour costs are pushing ...

straitstimes.com 20 Jan '11, 1am

Martial arts instructor charged with rape of student Does an MBA really help in your career? Girl infected with STD after ...

The IMF raised its forecast for world growth to...

straitstimes.com 25 Jan '11, 12am

PARIS - THE International Monetary Fund has increased its forecast for world growth this year to just under 4.75 per cent,...

"Bak kwa" prices going up

channelnewsasia.com 16 Jan '11, 1pm

SINGAPORE : Chinatown is bustling with shoppers on the first weekend of the annual Lunar New Year street market. Sales act...

US oil prices fall on high inventories

channelnewsasia.com 21 Jan '11, 9pm

NEW YORK: US oil prices dropped for the fourth straight day in New York on Friday, after weekly data showed a surprisingly...

DTN Singapore: Rising steel prices: Govt help n...

channelnewsasia.com 12 Jan '11, 10am

SINGAPORE: Steel prices increased by as much as 10 per cent in the last month. But the Ministry of National Development (M...