Category: ECONOMY

Cancer and diabetes rates to EXPLODE as McDonald’s unveils plan to open 2,000 more stores in China

China, once known for having some of the lowest cancer and disease rates throughout the world has quietly been sieged by ‘unhealthy’ Capitalism. Pizza Hut, Burger King, Taco Bell, Coca-Cola and finally McDonald’s are aggressively expanding into this untapped market leaving a deadly trail of cancer, diabetes, and disease for future generations to deal with.

According to this South China Morning Post report, McDonald’s will more than double their presence in China bringing the total number of stores to 4,500 by the year 2022.

McDonald’s said on Tuesday it would almost double the number of stores in mainland China by 2022, slightly more than was expected, as part of its strategic partnership with state-backed conglomerate CITIC Ltd and the Carlyle Group.

Earlier in the year, the US fast food chain agreed to sell most of its China and Hong Kong business to CITIC and Carlyle for up to US$2.1 billion. The new partnership had planned to add 1,500 restaurants in the two areas over the next five years.

But McDonald’s, which is betting the partnership will help it expand in the world’s No 2 economy without using much of its own capital, said it expects to increase the number of stores in mainland China to 4,500 by the end of 2022, from 2,500 now.

The company said it was targeting a double-digit annual sales growth in mainland China over the period, and was aiming to add 500 stores annually by 2022 versus 250 stores this year.

“China will soon become our largest market outside of the United States. We are excited to join forces with CITIC and Carlyle for better localised decision-making to meet changing customer demands in this dynamic market,” Steve Easterbrook, McDonald’s chief executive, said.

P/C MIKE MOZART

Drones are quietly taking the jobs of Insurance Inspectors

Insurance Inspectors

Insurance Inspectors are the latest casualty of the much-anticipated tech takeover. According to this WSJ, report drones are becoming the norm as 40% of car insurers no longer use employees to physically inspect damage in some cases.

When Melinda Roberts found shingles in her front yard after a storm, her insurer didn’t dispatch a claims adjuster to investigate. It sent a drone.

The unmanned aircraft hovered above Ms. Roberts’ three-bedroom Birmingham, Ala., home and snapped photos of her roof. About a week later a check from Liberty Mutual Insurance arrived to cover repairs.

“It took a lot less time than I was expecting,” Ms. Roberts said.

Drones, photo-taking apps and artificial intelligence are accelerating what has long been a clunky, time-consuming experience: the auto or home-insurance claim.

Traditionally, an insurance claim associated with minor home damage or fender-bender auto accidents started with a phone call from a customer and ended days or weeks later with a mailed check. In between the insurer often would send an inspector to investigate the situation in person.

But about four in 10 car insurers no longer use employees to physically inspect damage in some cases, according to a LexisNexis Risk Solutions survey of insurance executives. Claims that rely on greater automation can be handled in two to three days compared with 10 to 15 days for a more traditional approach that involves an in-person visit, according to the survey.

Under Armour announces LAYOFFS as sales SLIDE

More bad news for retail. According to this CNBC report Under Armour has announced hundreds of layoffs as sales slide.

Under Armour plans to cut about 2 percent of its global workforce as it restructures its business in the face of slumping sales.

On Tuesday, the sports apparel company reported a narrower-than-expected second-quarter loss, but shares fell as the company trimmed its sales forecast for the year.

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