Morning Business Report: McDonald’s Hiring Surge, Drug Price Cuts, Holiday Travel Trends
McDonald’s announced plans to hire up to 375,000 workers across its company-owned and franchised U.S. restaurants this summer.
(LILAMAX)- McDonald’s announced plans to hire up to 375,000 workers across its company-owned and franchised U.S. restaurants this summer, as it prepares for seasonal demand and an expected surge in foot traffic. The announcement came as the fast-food giant marked the 10-year anniversary of its Archways to Opportunity program—an initiative that provides tuition assistance and education support to employees, including high school completion and college funding. Labor Secretary Lori Chavez-DeRemer joined company executives to celebrate the milestone, calling it a model for workforce development. While McDonald’s has long been one of President Donald Trump’s fast-food favorites, the company has also grown closer to his administration during his second term—especially on workforce and economic issues.
President Trump signed a new executive order aimed at reducing prescription drug prices in the U.S. by tying them to rates paid in other countries. The policy—called the “Most Favored Nation” model—directs the government to pay no more than the lowest price charged by comparable nations. Trump claimed the order could cut drug prices by up to 80%. Details of the pricing framework will be finalized by federal agencies in the coming weeks.
Wall Street soared following news that the U.S. and China agreed to temporarily delay planned tariff hikes, giving investors a rare dose of optimism in a tense trade environment. The Dow Jones Industrial Average jumped more than 1,000 points, fueled by gains in toy stocks like Mattel, Hasbro, JAKKS Pacific, and Funko. Many of these companies rely heavily on Chinese manufacturing.
In a win for consumers, U.S. hotels, short-term rentals, and ticketing platforms must now clearly disclose all fees—including resort and booking charges—at the time of purchase. The new rule takes effect this week and is being praised by consumer advocates who say the changes will help end deceptive pricing practices that often surprise travelers at checkout.
Despite lingering economic concerns, Americans are gearing up for a busy Memorial Day weekend—though most are sticking to the roads. According to AAA, more than 39.4 million people are expected to travel by car this holiday, marking a 3.1% increase over last year and the highest number in 20 years. The surge comes as gas prices fall, prompting many to scale back on flights and opt for road trips instead.
