Fast Food Chains Warn Consumers , That Worker Pay Increases
Will Impact Prices.
'Newsweek' reports that franchises have
warned an increase of the minimum wage
for fast food workers in California could also
force menu prices to climb.
As of April 1, fast food restaurants in California
will have to pay employees at least $20 an hour, an
increase of four dollars from the current $16 an hour. .
Business owners have warned that the new law,
signed in by Democratic governor Gavin Newsom,
will have an impact on margins and consumer costs. .
At the end of October, McDonald's CEO Chris Kempczinski
said that the impact of the minimum wage rise would
be partially "worked through with higher pricing.".
At the end of October, McDonald's CEO Chris Kempczinski
said that the impact of the minimum wage rise would
be partially "worked through with higher pricing.".
According to McDonald's numbers, the price of
the signature Big Mac burger is currently $5.89
in California, the 10th highest in the United States.
The latest data compiled by 'The Economist' shows that
the average price of a Big Mac nationwide is currently
$5.69, which is up from $5.36 at the same time in 2023. .
Last year, McDonald's , reported net profits of , almost $8.5 billion.
According to the company's latest financial reports,
sales increased 8.7% in the U.S. in 2023, which the
company attributed to "strategic menu price increases.".
According to the company's latest financial reports,
sales increased 8.7% in the U.S. in 2023, which the
company attributed to "strategic menu price increases.".
Meanwhile, Jack Hartnung, the CFO of fast food
chain Chipotle, told investors that the wage
increase would impact consumer prices with a
"mid-to-high single digit" percentage increase.
Meanwhile, Jack Hartnung, the CFO of fast food
chain Chipotle, told investors that the wage
increase would impact consumer prices with a
"mid-to-high single digit" percentage increase.
In December, Pizza Hut cited the wage
increase as the reason behind laying off
the company's in-house delivery drivers. .
In December, Pizza Hut cited the wage
increase as the reason behind laying off
the company's in-house delivery drivers.
Credit: Wibbitz Top Stories Duration: 01:31Published
California Voters Pass Proposition 1 , to Address Homelessness Crisis.
In a state that accounts for close to a third
of all homeless people in the United States.
California counties will now be required to
spend money "on housing and drug treatment programs" to fight homelessness, NPR reports. .
Gov. Gavin Newsom raised over
$13 million to promote the measure.
Proposition 1 represents California's first mental health system update in 20 years, NPR reports. .
This is the biggest change in
decades in how California tackles
homelessness, and a victory for
doing things radically different, Gov. Gavin Newsom, via statement.
Now, counties and local officials must
match the ambition of California voters. , Gov. Gavin Newsom, via statement.
This historic reform will only
succeed if we all kick into action
immediately – state government
and local leaders, together, Gov. Gavin Newsom, via statement.
Revenue from a tax on millionaires, enacted in 2004, brings in about $2 billion to $3 billion a year toward California's mental health budget, NPR reports. .
Counties will now be required to spend two-thirds
of that money to tackle homelessness. .
The state will also be allowed to borrow
$6.3 billion to create an additional 6,800 beds for mental health and addiction treatment.
That money can also be used to
construct 4,350 housing units. Half of
those housing units will be for veterans
Credit: Wibbitz Top Stories Duration: 01:31Published
A powerful storm wreaks havoc in California, causing at least three deaths, widespread damage estimated at $9-11 billion, and displacing residents. Governor Gavin Newsom declares a state of emergency in eight counties. Major cities, including Los Angeles and San Francisco, face unprecedented rainfall, prompting evacuation warnings. Disneyland and tourist spots are impacted.
#California #GovernorGavinNewsom #GavinNewsom #SanFrancisco #LosAngeles #CaliforniaStorm #Storm #Winterstorm #Worldnews #Oneindia #Oneindianews
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A California man is competing with Florida Man for weirdest headline of the week -- 'cause he got arrested for walking around and apparently chomping on a human.. TMZ.com
State Farm Won’t Renew Coverage , for 72,000 Homeowners in California.
The news comes nine months after the insurance giant announced that it wouldn't issue any new home policies in California.
The news comes nine months after the insurance giant announced that it wouldn't issue any new home policies in California.
State Farm cited rising costs, the heightened risk of wildfires and certain regulations as reasons for not renewing the 72,000 policies, CBS News reports. .
State Farm cited rising costs, the heightened risk of wildfires and certain regulations as reasons for not renewing the 72,000 policies, CBS News reports. .
This decision was not made lightly
and only after careful analysis of
State Farm General's financial health... , State Farm, via statement.
... which continues to be impacted
by inflation, catastrophe exposure,
reinsurance costs, and the limitations
of working within decades-old
insurance regulations, State Farm, via statement.
State Farm General takes seriously our
responsibility to maintain adequate
claims-paying capacity for our
customers and to comply with
applicable financial solvency laws, State Farm, via statement.
It is necessary to take
these actions now, State Farm, via statement.
However, both the insurance company and
the California Department of Insurance
will have to answer to regulators.
One of our roles as the insurance
regulator is to hold insurance
companies accountable for
their words and deeds, Michael Soller, Deputy Commissioner of the
Communications and Press Relations Branch, via CBS News.
We need to be confident in
State Farm's strategy moving
forward to live up to its obligations
to its California customers, Michael Soller, Deputy Commissioner of the
Communications and Press Relations Branch, via CBS News.
State Farm did not disclose the locations of the discontinued policies or the criteria it used for determining which policies wouldn't be renewed.
It is not yet clear if an
investigation will be launched
Credit: Wibbitz Top Stories Duration: 01:30Published
Fusion Industry Leaders , Hold DC Conference , Looking for Investors.
Fox News reports that leaders in the West's
emerging nuclear fusion industry are
convening this week to attract additional
funding to build commercially-viable reactors. .
The high-level conference takes
place as the industry races to
develop the technology ahead of China. .
Earlier this month, the Biden administration
signed a funding bill that contained
$790 million for fusion science programs in 2024. .
Earlier this month, the Biden administration
signed a funding bill that contained
$790 million for fusion science programs in 2024. .
Unlike current nuclear fission plants,
commercial fusion plants would not produce
any long-lasting radioactive waste.
According to Andrew Holland, CEO of Fusion Industry
Association (FIA), the industry is concerned that fusion
will follow the same pattern as the solar industry.
Much of the technology used in the solar industry was invented in the United States, but manufacturing was primarily handled in China.
It is very clear that China
has ambitions to do the same
sort of thing, both in the supply
chain and the developers.
It's time for the U.S. to
respond to that challenge, Andrew Holland, CEO of Fusion Industry
Association (FIA), via Fox News.
According to an FIA report from last July, private
companies around the world have invested
over $6 billion in fusion technology through 2022. .
Fox News reports that the third annual FIA
conference is expected to attract an estimated
350 attendees from around the world.
Last year, the industry gained momentum
after scientists at California's Lawrence Livermore
Laboratory reported a breakthrough, bringing the
technology one step closer to commercial viability.
Credit: Wibbitz Top Stories Duration: 01:31Published
Daisy de la Hoya received a helping hand from some fellow Hollywood stars who are also sober and familiar with what she experienced during a mental health.. TMZ.com
Hollywood actress Cameron Diaz and musician Benji Madden announce the arrival of their son, Cardinal Madden, as Diaz embraces motherhood at 51. Learn more about their joyful announcement and their commitment to privacy in this heartwarming update.
#CameronDiaz #CameronDiazPregnant #CameronDiazBaby #Hollywood #HollywoodNews #CameronBenji #BenjiMadden #CardinalMadden #Entertainment #Oneindia
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Before this sweet boy with sneaky smile turned into an A-list star in Hollywood, he was just a London boy enjoying art class, thriving in his drama classes and.. TMZ.com
Hollywood stars are signing an open letter from the Nuclear Threat Initiative who are using the nominated film 'Oppenheimer' to expand the conversation on nuclear threats. The NTI launched its "Make Nukes History" campaign in Los Angeles, which involves billboards, an art installation, street posters and an open letter signed by various stars, calling for the use of nuclear weapons to be ceased.
Credit: The Hollywood Reporter Duration: 01:39Published
Stephen Colbert joked about the California recall election at the Emmys.
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