Outside of the Americas, Facebook doesn’t make much money from its users.
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McDonald’s is shaking up its leadership as it struggles to keep up with changing consumer tastes, appointing Steve Easterbrook, a veteran of UK high street restaurant chains, to replace Don Thompson as chief executive.
Like many traditional fast-food retailers, McDonald’s has seen sales slump as its core low-income customers struggle to recover from the global financial crisis. Under Mr Thompson’s leadership the company has come under fire for adding too many items to its menu of Big Macs and Quarter Pounders, which has slowed down service and confused diners.
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Apple reported the largest net income of any public company in history in the three months to December, as record iPhone sales of 74.5m units beat even the most bullish Wall Street forecasts.
Apple’s net profit grew 37 per cent to $18bn, toppingExxonMobil’s previous quarterly record of $15.9bn in 2012, according to S&P Dow Jones Indices.
Capsized icebergs are still uncommon. The vitreous blue-green gleam is the handiwork of decades of pressure that squeezed out the tiny air pockets that buffer the crystals. Ice that dense absorbs bits of red light, reflecting the blue frequencies. Underwater microorganisms and minerals frozen within burnish its greenish tint.
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Bryan Stockton resigned as the head of Mattel after the world’s second-biggest toy company saw profit plummet 59% over the crucial holiday season. The news sent Mattel’s down by nearly 5%; board member Christopher Sinclair will serve as interim CEO.
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Since 2000, the middle class has been shrinking for an alarming reason: Incomes have fallen, says The New York Times.
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Britain has moved deeper into the red after a £2.9bn payment to the European Commission. Data from the Office for National Statistics showed the government borrowed £13.1bn in December – up from £10.3bn a year earlier. The UK’s deficit rose higher thanks to the controversial payment to the European Commission budget, pushing the national debt up to a record £1.48tn.
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The price of oil has surged following the death of King Abdullah of Saudi Arabia. As investors waited to see if the Saudis would maintain production levels following the King’s passing, Brent crude jumped 87 cents, or 1.79%, to $49.39 a barrel, while US oil rose by as much as 3.1% in New York after the Saudi royal court announced the death. Oil prices have more than halved since last summer.
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