McDonald’s Sticks With Meat Supplier OSI Group, GM Reports 80% Drop in Q2 Profit
McDonald’s will keep OSI Group as a meat supplier, despite the recent expired meat scandal in China that led to five detained employees. In contrast, Yum Brands, which owns KFC, Taco Bell, and Pizza Hut, has severed relations with the supplier.
Beset with recalls, General Motors reported an 80-percent drop in its second-quarter profit.
The upcoming rollout of Apple Inc.’s new iPhones, of which up to 80 million units will be manufactured, is reportedly already boosting Asian economies and supplier sales.
Bill Simon, the chief executive of Walmart’s U.S. division, is leaving the company and will be replaced by Greg Foran.