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McDonald's has announced the extension of its $5 meal deal through December 2024, following strong consumer demand. The meal includes a McDouble or McChicken, fries, nuggets, and a drink. This move reflects ongoing efforts by fast-food chains to attract budget-conscious diners amid inflationary pressures.
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Senator Elizabeth Warren and Representative Madeleine Dean have called out Coca-Cola, PepsiCo, and General Mills for engaging in 'shrinkflation'—reducing product sizes while maintaining prices. This comes amid rising food costs and scrutiny over corporate profits. PepsiCo recently announced larger chip bags to counteract declining sales.
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Starbucks is grappling with staffing shortages and a shift in promotional strategy under CEO Brian Niccol. An internal survey revealed that only a third of baristas feel adequately staffed, while Niccol aims to enhance the brand's premium image by reducing discounts and focusing on customer experience. The company is also addressing equipment reliability issues.