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McDonald's fails to meet its US sales target due to tighter consumer spending
McDonald's missed Wall Street estimates on Thursday for growth in U.S. quarter-to-quarter comparable sales, as the company struggled to attract diners who were already stretched by rising fuel and grocery prices. After years of price increases, operators in fast-food have been forced to rely on value-driven promotional campaigns to revive the demand. The largest burger chain in the world posted U.S. sales growth of just 3.9% during the first quarter, falling short of expectations for a 4.2% rise. McDonald's CEO Chris Kempczinski stated that the operating environment was "challenging" even though it beat its quarterly revenue and profit estimates, sending shares up by about 3% during?premarket trade. Some U.S. restaurants chains, such as Wingstop and Domino's, have reported a weaker quarter-on-quarter sales growth. They cited a drop in customer spending due to the soaring gas prices caused by Iran's war. Wall Street analysts say that lower-income consumers have become more selective and are ordering fewer items rather than full meals. Placer.ai data showed that McDonald's U.S.'s traffic was uneven throughout the first quarter. Winter storms caused a 1.3% drop in same-store visits in January. Traffic surged 3.8% in Febraury on pent up demand but fell to 1.2% in March as a result of a muted response from new menus and rising fuel prices. McDonald's expanded its McValue program in April to attract cost-conscious customers. McDonald's global comparable sales increased 3.8%. This was slightly below the analysts' expectations of 3.95% but still an improvement over a 1% drop a year earlier. LSEG data shows that the company's 'total revenue' of $6.52bn exceeded expectations of $6.47bn. It earned $2.83 in adjusted earnings per share, compared to expectations of $2.74.
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McDonald's fails to meet its US sales target due to a lack of demand for value-driven products
McDonald's missed Wall Street expectations for growth in U.S. quarter-to-quarter comparable sales on Thursday as low-priced meals and limited-time offers failed?to draw diners who have budgets that are strained due to higher fuel costs?and groceries. Fast-food operators have had to turn to value-driven promotional campaigns to boost demand after several years of price increases. According to data compiled and analyzed by LSEG, the world's largest burger chain reported U.S. sales growth in the same-store category of 3.9%, which was below expectations of a 4.2% rise. The slowdown at McDonald's is a reflection of broader industry trends. Some U.S. restaurants, such as Domino's and Wingstop?, have reported a weaker quarter-on-quarter sales growth. They cited a drop in customer spending due to the soaring gas prices caused by the Iran War. Wall Street analysts said that lower-income consumers were becoming more selective. They are increasingly ordering single items rather than meals. Placer.ai data showed that McDonald's U.S. sales were uneven in the first quarter. Winter storms caused a 1.3% drop in same-store visits in January. In February, traffic increased 3.8% on the back of pent-up consumer demand. However, in March it dropped to 1.2% as a result of a muted response to menu changes and rising fuel prices. McDonald's expanded its McValue program in April to attract 'cost-conscious' customers. McDonald's global comparable sales increased 3.8%. This was a slight improvement over the 1% drop in sales a year earlier, but it still fell short of analysts' expectations. Sales in the 'business segment', which includes restaurants operated by local partners and led by Japan, rose by 3.4%. International sales grew by 3.9%, driven by demand in Britain, Germany, and Australia. The net income for the quarter January-March rose by 6%, to $1.98billion. McDonald's reported adjusted earnings of $2.83 per share in the January-March quarter, up from $2.67 an year ago.
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Source: Palliser, an activist investor, has a minor stake in UK Autotrader.
Palliser Capital, an activist?investor, has acquired a 2% share in Britain's Autotrader Group. A?source with knowledge of the matter said on Thursday. This comes at a time where artificial intelligence is putting pressure on the automotive market. Autotrader shares rose 4.2% to 521.2 pence each at 0921 GMT. This outperformed the benchmark FTSE-100, which fell 0.7%. Source: The fund manager's stake will likely be between 1% to 2%. According to a calculation based on Autotrader's closing stock price, the stake could be worth as much as 81.2 million pounds (110.6 million dollars). Palliser had previously called for change at several large firms. From Japan's SMC Corp, which aims to provide shareholder returns, to a failed campaign at Rio Tinto last year asking the miner to reconsider its dual-listing. Sky News reported the first on Palliser’s stake purchase. Sky News said that the investor supported the company but is pressing the group to return 700 million pounds in dividends, buybacks and tenders to the shareholders. Palliser, a London-based company, declined to comment. Autotrader didn't immediately respond to an inquiry for comment about the stake-buy. Autotrader is a website that connects new and used car buyers and sellers online. It offers advertising, data and transaction services. There is a growing concern about the business models of global data and advertising companies as AI capabilities expand. In March, Britain’s competition regulator launched investigations into five companies including Autotrader as part of a crackdown on false reviews and misleading online rating. Autotrader shares have lost almost 42% of their value over the last 12 months. In May 2025 they reached their highest value of 920 pence per share.
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Lanxess expects oil prices to range between $100 and $110 per barrel
Lanxess predicts that oil prices will remain high for the next few months, and warns that the soaring energy costs are likely to continue to impact the chemical sector after the Middle East conflict disrupted the fuel and feedstock market. CEO Matthias Zachert stated that the company expects oil prices to stay in the $100 to $110 range per barrel for the next few months. He added that Lanxess would pass on the higher costs by increasing the price. He also said that the pressure of Chinese competition in Europe is starting to?ease as higher energy prices?hit Asia more than?Europe. "This could change if we see a greater tendency towards peace, or if military escalation occurs again." Zachert said that despite the high oil price, we have a 'clear' target to increase prices and roll over this situation. Trade tensions made Europe more attractive to US producers than Europe, and this has led to price pressure on the European chemicals industry. Zachert stated that the Middle East conflict has changed the relative energy costs as well as competitiveness.
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Singapore's oil products stocks fall to a nine-month-low as US-Iran conflict cuts supply
Official data showed that oil product stocks in Asia’s?oil-hub Singapore have fallen to their lowest levels in nine months, after the U.S./Iran war curtailed Middle East crude and fuel imports. Enterprise Singapore's data shows that combined onshore oil products stocks totaled?44.83 millions barrels during the week ending May 6, which is the lowest level since late July 2025. Last week, stocks of light and middle distillates (gasoline, diesel and jet-fuel) fell while remaining fuel inventories remained at a low level for the past year as Middle East imports remained close to zero. The amount of residual fuel in Singapore storage tanks, which is typically used to fuel ships, totaled 19.88 million barrels. This was an increase of 387,000 barrels from the previous week. However, it still hovers near the 50-week-low level (19.488 millions barrels) in the prior week. "Residue inventory is coming down, probably due to the lower fuel oil yields of refineries who have had to switch to lighter crude diet," June Goh, senior oil market analyst, Sparta Commodities. Goh said that "this trend is likely going to continue, as the supply of medium-sour crude oil from the Middle East is still fairly limited." Fuel oil traders have been buying more fuel oil from the West since the war has slowed down shipments of key Middle Eastern exporters like?Iraq or Kuwait. DIESEL, JET FUEL STOCKS FALL, ?BUT HOLD ABOVE 2025 AVERAGE The Middle Distillates Stocks fell by 844,000 barrels, to 10.077 million barrels, compared with last week. However, they remain above the average for last year of 9.55 millions barrels. For the first time in nearly three months, the city-state became a net importer of gasoil. Total imports increased by more than twice compared to a previous week, while exports decreased by 5%. Most of the cargoes imported came from India and Oman, but some were from Egypt - which is not normal. In a report to clients late last week, FGE NexantECA analysts stated that "Higher Asian premiums attracted barrels from other regions," helping to ease immediate demand for quick supply. The data shows that the net exports of jet fuel increased 91% from one week to another, reaching around 46,800 tonnes (368,784 bbls). North Asian refiners will likely increase their middle distillate exports in May, despite volumes remaining lower than pre-war. GASOLINE EXPORTS FROM ASIA PACIFIC RISE Singapore's light distillate stocks fell to their lowest level in 19 weeks as gasoline exports outpaced imports. Strong outbound flows into regional markets like Indonesia, Malaysia and Australia, as well as Vietnam, drained the stock. The week's gasoline?exports were about 479,000 metric tonnes (about 4,000,000 barrels), far exceeding the imports of 288,000 tons. Indonesia alone took nearly 219,000 tons. Inflows from key suppliers such as Saudi Arabia, South Korea, and Japan did not offset the decline. Imports of 176,000 tons (1.6 millions barrels) likely increased as exports of 50,000 tons were outweighed by shipments to Malaysia and South Korea. Cargoes from China, Malaysia and Trinidad and Tobago also outweighed shipments outbound.
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Profits at Spanish oil company Moeve rise 7% due to strong refining margins
Moeve, the Spanish energy company, reported on Thursday a 7% rise in its first-quarter earnings. The company cited strong performance across its core businesses and soaring profits in its energy division due to the Iran War which caused a spike in oil and fuel prices globally. The?company that was formerly Cepsa, one of Spain's biggest refiners, booked a net profit of 147 million euros ($173million) in the third quarter. This compares to 138 million euro a year earlier. In a press release, CEO MaartenWetselaar stated that "Moeve delivered a solid quarter of results shaped by heightened geopolitical uncertainties?and volatile oil prices." The core profit of Moeve’s energy business increased by 40% on an annual basis due to the strong refining margins. This was a result from the turbulent market conditions caused by the Middle East conflict. Moeve said a potential 'binding agreement' with Portuguese energy company Galp was expected by mid-2026. This deal could create a refinery that is one of the largest in Europe. In January, the two companies announced that they had signed an agreement which was not binding.
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The rupee is gaining strength as oil prices fall and the NDF dollar sales increase.
The Indian rupee rose sharply?on Thursday, thanks to a drop in crude oil prices. Stop-losses were also placed on short rupee bets and dollar sales?in the nondeliverable?forward?market, which helped the currency. Brent crude fell below $100 a barrel on Monday, down almost 3%, and reversed course after reaching a high of $102.5 for the day. Sources and officials reported that the United States is moving closer to an interim agreement with Iran in order to end their war. The fall in oil prices lifted Asian currencies, including the rupee. It strengthened as much as 0.5%, before closing the session at 94.25. This was a sharp improvement over its intraday low of 94.9025. India, which is the third largest oil importer in the world, has been given much-needed relief by the drop in crude prices. The surge in oil prices since the beginning of the Middle East conflict had prompted economists to predict a weaker rupiah, and revise their inflation expectations higher or lower. The dollar-rupee premiums, which are the cost of hedging foreign currency exposure, have fallen. The implied yield for one year has dropped to a new low of just 2.97%, after a three-week decline. A trader from a foreign bank stated that there was a lot of selling interest on the NDF, which indicates that short rupee bets have been unwound. Second trader of a private lender? said that a large Indian bank with a U.K. headquarters and a large Indian bank had been seen selling dollars in great quantities on the local spot markets. The 25-delta risk reverser for the?dollar/rupee option market, which measures options sentiment, showed a reduced appetite for?rupee bets. Analysts at MUFG wrote in a report that "the improvement in global investor sentiment and the drop in energy prices are providing a tailwind to emerging?market currencies' performance." The note stated that "latest developments add to investor confidence" that the US is making progress in finding a diplomatic solution with Iran. The dollar index fell 0.2%, while Asian currencies rose between 0.2% and 0.6%. The improved risk sentiment has benefited global equities, with MSCI’s Asia Pacific Stock Index gaining over 2%.
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Iraq's marshes re-fill with water after years of drought
Rising water levels have begun to restore the historic wetlands of Iraq after years of drought. This has brought buffalo herders, and fishermen, back to these areas that were abandoned. Water buffalo are now grazing on restored marshland in the Chibayish marshes of southern Iraq. Patches of green pastures have also re-emerged. Haidar Qassem is a farmer who raises water buffaloes in the central marsh. Qassem added that many of his people had migrated due to the drought, and that this year water was returning, the livestock numbers were improving, and some families have returned. After a heavy winter rainfall, the water levels in reservoirs were boosted. This allowed the Iraqi Ministry of Water Resources to release more water into the marshes. Residents still hope for more water releases. Jassim Al-Assadi, an Iraqi marshland specialist, said that the Ishan hallab area, which is part of Iraq’s marshes and was designated a UNESCO World Heritage Site in 2016, had completely dried up between 2021-2025, forcing the herders to leave it. The wetter weather conditions in recent months have helped restore Ishan-Hallab, revitalizing pastureland, and allowing residents to return to the area. Al-Assadi stated that the amount of submerged marshland has increased to between 32 and 36 percent, as opposed to no more than 8 percent over the last five years. Iraqi officials in charge of water resources confirmed this view. The increased water levels also supported a gradual recovery of biodiversity, such as fish stocks, plant growth, and the reeds that residents used to build their "traditional homes". Since thousands of years, the marshes are inhabited by the Marsh Arabs whose livelihoods and traditional practices are closely linked to the water. Mazin Wadai is a water resource official who said that larger inflows, better?water management, and stronger seasonal rains had increased reserves in dams. They also increased flows in both the Tigris?and?Euphrates allowing for more water to reach the marshes. Water Resources Ministry said Iraq's strategic reserve has increased by approximately 6 billion cubic meters this year. This gives authorities more flexibility in managing?supplies throughout the summer months. Saddam Hussein drained the marshes in Iraq, which once covered more than 3,600 sq km (9,500 sq mi), in the 1990s. He accused the Marsh Arabs during the 1980-1988 Iran war of treachery, and wanted to eliminate insurgents. Since Saddam Hussein's ouster in 2003, the government has reflooded parts of the marshlands, allowing around 250,000 Marsh Arabs to gradually return. Recent improvements have changed the lives of residents such as Raheem Abd Zahra who is a buffalo herder. He said, "The land used to be dry but it is now alive again." Mohammed Aty reported from Basra, Ahmed Rasheed wrote and contributed additional reporting to the story; William Maclean edited it.
Hong Kong's bourse wants to revive gold futures amid market volatility
HKEX is looking to launch gold futures as it strives to become a 'global gold trading and storage hub' amid volatile gold prices caused by geopolitical tensions.
According to a video review of the meeting, Gregory Yu, the head of markets at the bourse, said to local legislators this week that they plan to revive gold futures.
HKEX launched gold futures for the last time in 2017, after an earlier product that was introduced in 2008 had been suspended in 2015. However, both efforts failed due to low liquidity and competition with established global markets.
Yu, who didn't give a time frame, said HKEX will "continue to consult with market participants and stakeholders and refine contract design, and improve delivery mechanisms."
Yu said that many investors need to diversify their risk due to the geopolitics and therefore are interested in trading gold and storing it.
"We believe that it is essential to connect the gold-futures market with the physical gold ecosystem here."
HKEX has confirmed that the proposal, which was not previously reported, was made at a meeting on Monday.
Hong Kong's government is pushing to expand its bullion storage, and position the city as a gold trading hub.
Since the onset of the Iran war, gold prices have fluctuated sharply as investors decide whether to buy safe-haven assets or reassess the impact the conflict will have on oil prices and inflation, dollar values and interest rate expectations. Reporting by Selena Li. Mark Potter edited the article.
(source: Reuters)