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Wendy’s Largest Franchisee Files Chapter 11 as Beef Costs, Discounts Crush Margins
Meritage Hospitality, one of Wendy’s largest franchisees with 314 locations, files for Chapter 11 bankruptcy citing 48% earnings collapse, beef inflation, and weak marketing under prior leadership.
Australia’s Deaths to Outnumber Births by 2060s, Treasury Warns
Australia’s 2026 Intergenerational Report shows deaths will outnumber births by the 2060s as fertility falls to 1.34 children per woman. Real GDP growth per person projected at 1.2% over 40 years.
Realty Income Jumps on €528M KKR European Deal; Meyka Grades O a B
Realty Income partners with KKR on €528M European real estate deal. AFFO guidance raised to €4.44-€4.45 per share. Meyka grades O a B with 5.7% dividend yield.
Social Security COLA Set to Rise 3.5% in 2027, Boosting Average Check by $68
Social Security COLA forecast for 2027 shows 3.5% increase, raising average monthly benefits by $67.90. Official announcement set for October 14, with payments beginning January 2027.
Converse Apologizes for Ads Compared to KKK and Lynching Imagery
Converse apologized after ads featuring K-pop star Karina and a Palmes collaboration drew KKK and lynching comparisons online. The company removed the images and pledged to do better.
Billionaire Portelli Flees Australia for Dubai Over Tax Crackdown
Billionaire Adrian Portelli moves to Dubai, citing Australia’s harsh tax settings and regulatory burden. He warns the country is chasing away success and driving out entrepreneurs.
Singapore Luxury Property Auction Fails as Seized Assets Draw Tepid Bids
Seven luxury properties seized in Singapore’s S$3 billion money laundering case failed to sell at auction on September 17. Highest bid reached S$6.7 million but missed reserve price.
German Diesel Hits Record €2.45 Per Litre as EU Weighs Windfall Tax
German diesel prices hit record €2.45/litre on September 18. SPD demands price cap from oil firms within 14 days or faces government intervention. EU finance ministers discuss windfall tax on energy companies.
Oriental Land Stock Surges 45% From May Low as Disney Sea 25th Anniversary Boosts Q1 Earnings
Oriental Land (4661.T) stock climbed 45.9% from May lows to ¥3,068 on September 17 after Q1 operating profit jumped 23.1%. The company offers special 100-share dividend for 30th listing anniversary.