McDonald's to sell breakfast all day
McDonald's Corp. plans to start selling all-day breakfast across the country starting Oct. 6, aiming to reinvigorate sluggish sales by fulfilling a longstanding customer request.
The company's franchisees have voted to approve the plan and it's being implemented nationwide, according to a statement from McDonald's spokeswoman Lisa McComb. The move -- the company's biggest menu change in years -- follows months of testing the idea at various locations. In July, Chief Executive Officer Steve Easterbrook said the all-day breakfast trials were going well, fueling speculation that a national rollout was near.
Easterbrook, who took over in March, has been trying to pull the company out of its worst sales slump in more than a decade. Selling its signature Egg McMuffin sandwich all day could increase sales by as much as 2.5 percent a year, according to an internal company presentation.
Under the plan approved by franchisees, the full morning lineup won't be available all day. McDonald's may get rid of other items to make room for breakfast, McComb said.
Comcast targets millennials with services
NEW YORK -- Comcast, which became a TV powerhouse by signing up Generation Xers, baby boomers and their parents, now is fighting for millennial eyeballs.
The TV giant is investing in online media outlets like BuzzFeed and Vox that attract young viewers. It's setting up a streaming TV service for millennials who don't watch a boob tube. And it's developing a YouTube-like video app and website.
It's the latest effort by the TV industry to attract younger customers at a time when ratings are sliding and more millennials are becoming "cord cutters" by ditching traditional cable entirely.
U.S. construction spending reaches high
WASHINGTON -- U.S. construction spending in July climbed to its highest level in more than seven years, boosted by an increase in the building of houses, factories and power plants.
The Commerce Department said Tuesday that construction spending rose 0.7 percent to a seasonally adjusted annual rate of $1.08 trillion, the highest level since May 2008.
Approaching health law tax is not just luxury levy
WASHINGTON -- The last major piece of President Barack Obama's health care law could raise costs for thrifty consumers as well as large corporations and union members when it takes effect in 2018.
The so-called Cadillac tax was meant to discourage extravagant coverage. Critics say it's a tax on essentials, not luxuries. It's getting attention now because employers plan ahead for major costs like health care.
Herald wire reports