Home Business and Economics This Week in Business: McDonald’s, Zimbabwe, and More

This Week in Business: McDonald’s, Zimbabwe, and More

McDonald's sign against blue sky

McDonald’s Workers Sue Over ‘Toxic’ Work Culture

McDonald’s workers in Michigan sued McDonald’s on Tuesday. They claim that the fast-food chain allows much sexual harassment to grow at its restaurants nationwide. In addition, the lawsuit claims that McDonald’s lacks policies that address sexual harassment, failing to train managers to prevent it, and retaliating against workers who complain.

Other employees have filed more than 50 other complaints against McDonald’s in the United States over the last three years. However, in a statement, McDonald’s said that it will implement safe-workplace training at its corporate-owned restaurants. They are also encouraging franchisees to do the same. “There is a deeply important conversation around safe and respectful workplaces in communities throughout the U.S. and around the world,” it said.

Zimbabwe Dollar Notes Issues For First Time In Years

Zimbabwe banks issued the first dollar notes since 2009. As a result, lines have formed outside the banks as people hope to get the bills. Currently, Zimbabwe’s central bank hopes the new notes will ease a severe cash shortage as the country suffers a deepening economic crisis. Back in 2009, they discontinued the currency when hyperinflation caused prices to double daily.

Right now, the Reserve Bank of Zimbabwe insists that the new dollar notes will not increase the overall money supply. Instead, the cash will replace money that was stored electronically. However, many people remain convinced that this move in the middle of an economic crisis will raise inflation higher.

Trump Says Trade Deal ‘Close’

President Trump said that a trade deal with China is near closure. However, he declined to elaborate further on details. “We’re close,” he said. “A significant phase one trade deal with China could happen. Could happen soon. But we will only accept a deal if it’s good for the United States and our workers and our great companies. They are dying to make a deal. We’re the ones that are deciding whether or not we want to make a deal.”

Walgreens Gets Record Buyout Offer

Walgreens received a record buyout offer from private firm KKR. KKR sold its final shares in Walgreens from a previous buyout three years ago. In addition, it is likely to have to work with other investors to complete a deal. However, Stephen Schwarzman, chief executive of equity group Blackstone, said that any deal to buy Walgreens would be a “stretch” in current market conditions.

Juul To Cut $1Bn In Costs

Juul plans to cut nearly $1Bn in costs next year, the company announced Tuesday. Currently, its new chief executive officer is trying to turn around the e-cigarette maker after a regulatory crackdown. “As the vapor category undergoes a necessary reset, this reorganization will help JUUL Labs focus on reducing underage use, investing in scientific research, and creating new technologies,” CEO K. C. Crosthwaite said in a statement.