McDonald's is offering salads with kale in California, and JetBlue is heading to Cuba every week. Here are the top news stories for May 7, 2015.
What Millionaires Will Do With Their Money
A new survey from CNBC, conducted by Spectrem Group, reveals that American millionaires plan to leave the vast majority of their wealth to their kids and will give less than 10 percent to charity. The CNBC Millionaire Survey, which pooled Americans with a net worth of $1 million or more, found that more than half of Millionaires plan to leave each of their children 41 million or more. One in four plans to leave $500,000 to each child while only 4 percent plan to leave their children less than $100,000. Among those with $5 million in net worth, 88 percent plan to leave at least $1 million to each child. One in five Millionaires said they would leave nothing to charity.
JetBlue to Cuba
JetBlue announced Wednesday it will begin operating a weekly flight from New York to Havana now that several trade and travel restrictions have been lifted. The new flight will operate from John F. Kennedy International to Havana Jose Marti International airport every Friday with a return flight from Havana to JFK every Friday afternoon. This is the first carrier to announce new flights to Cuba from New York since relations between the United States and Cuba changed. The flights will begin July 3.
Illinois to Chicago: No Help
Illinois Governor Bruce Rauner Wednesday said the state would not be able to offer any funds to the city of Chicago to bail it out of its fiscal difficulties. The state of Illinois itself is billions in debt, and the new governor is trying to solve that problem first. Speaking in front of the Chicago City Council, Rainer said the city and state need to work together to solve financial provides that include the huge amounts of unfunded pension liabilities. “For Chicago to get what it wants, Illinois must get what it needs,’’ Rainer said.
Wendy’s Selling Off
Wendy’s announced Wednesday it plans to sell off its bun-making business in Ohio later this month and also detailed its plans to sell off more than 600 of its company-owned restaurants to franchisees. The company reported profit that narrowly beat Wall Street expectations for the first quarter although sales were well below expectations with fewer stores still open. Wendy’s said it now plans to sell 380 restaurants in 2015 and 260 restaurants in 2016. Wendy’s hopes to own just 5 percent of its stores by mid-2016.
Alibaba Tops Expectations
Chinese e-commerce giant Alibaba said its quarterly earnings and revenues topped analysts’ expectations Thursday thanks to an increase in gross merchandise volume. The company also said Thursday that Chief Executive Officer Johnathan Lu will step down May 10 and would be replaced by Chief Operating Officer Daniel Zhang. Alibaba posted fourth-quarter earnings of 48 cents per share in the quarter ending March 31. The company’s revenues rose 45 percent to $2.81 billion.
McDonald’s Going With Kale
In Southern California stores, McDonald’s will begin to offer breakfast bowls made with kale. One of the offerings will include turkey sausage, egg white, kale and spinach and others will include chorizo and egg. Over the last five years, Kale has been growing in popularity in the United States. McDonald’s is reworking its menu, reducing the amount of offerings while trying to provide fresher food.