• Facebook is changing its newsfeed algorithm in an effort to cut down on the amount of “click bait,” seen in user feeds. Click bait is a term used to describe headlines put on social media that intrigue a user enough to click on the link, but then provides little to no information on the website. The social media giant says it can detect which stories are click bait by tracking how much time a Facebook user spends on a page after clicking a link.
• McDonalds Corp. posted its largest decline in revenue in over a decade earlier this month. One of the largest reasons for the decline is a large drop in the amount of young customers eating at the famed golden arches. Customers in their 20s and 30s, a demographic once loyal to McDonalds, are now turning to fast-casual dining options such as Chipotle and Panera Bread. The switch stems from younger consumers opting for healthier eating options.
• Burger King is heading north. The hamburger royal is currently planning to purchase Canadian coffee-and-donut joint Tim Hortons Inc. The deal is being called a tax inversion move because it would relocate Burger King’s base to Canada for the lower tax benefits. If completed, the deal would create the third-largest quick-service restaurant provider in the world, valued at about $18 billion.
• New home sales fell 2.4 percent in July. The rate essentially matches the July numbers for 2013, a sign that national home sales remain stagnant, failing to show signs of improvement. While new homes only make up about 10 percent of home sales in the United States, the numbers are an important indicator because new home building provides a large number of well-paying, middle-class jobs.
*All information according to the Wall Street Journal.
