Burger King has surpassed Wendy's to become the second-largest U.S. burger chain by systemwide sales, ending Wendy's six-year hold on the spot following consecutive quarters of declining sales and leadership turnover.
American burger chain Five Guys is set to open its first Beijing store next month, following a trend of US fast-food brands expanding in China to counter domestic market saturation. Other chains like Wendy's and Popeyes are also increasing their presence, leveraging franchising models to mitigate risks in the competitive Chinese market.
The Reserve Bank of Australia maintained its official interest rate at 4.35% due to a slowing economy and rising unemployment. This decision offers little relief to mortgage holders facing increased costs from previous rate hikes. Higher fuel prices are contributing to inflation.
The Australian Competition and Consumer Commission (ACCC) has sued Grill'd, alleging the burger chain engaged in greenwashing by misrepresenting its 'Tree Day Tuesday' campaign. The ACCC claims Grill'd overstated donations towards tree planting, with only 4% of eligible burger sales resulting in a donation due to restrictive terms.
