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Iceland says goodbye to the Big Mac

Reykjavík : Iceland | about 1 month ago  
Views: 13
  • A stack of McDonald's Big Macs and French Fries
    A stack of McDonald's Big Macs and French Fries
    Source: AFP
A stack of McDonald's Big Macs and French Fries
The Big Mac, long a symbol of globalization, has become the latest victim of this tiny island nation's overexposure to the world financial crisis...Costs had doubled over the past year because of the fall in the krona and high import tariffs on imported goods, Ogmundsson said, making it impossible...
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  • News Source: CNN | 29 days ago
    Businessman Magnus Ogmundsson, who owns the only McDonald's franchise in Iceland, said it had become too expensive to operate the restaurants after Iceland's currency, the krona, plunged in value. "The krona is quite weak and we are buying everything...
  • News Source: NewKerala | 29 days ago
    Import costs have rocketed as the Icelandic currency has dropped in value to other currencies in the wake of the financial crisis that hit Iceland a year ago. The first McDonald's restaurant opened 1993 and the country's then prime minister David...
  • News Source: Fox News | 29 days ago
    McDonald's Corp. will withdraw from Iceland later this year, shutting its two restaurants in the crisis-hit nation on Nov. 1 because of rising costs, according to media reports Tuesday. The fast-food restaurant chain said it imports all resources for...
  • News Source: The Guardian | 29 days ago
    McDonald's is pulling out of Iceland next week, in a fresh blow to the island nation a year on from a financial crash that nearly left it bankrupt. The closure of the fast-food giant's three restaurants on Monday means Iceland will become one of the...
  • News Source: International Herald Tribune | 29 days ago
    The company that all three of its restaurants in Iceland, operated by a franchisee, Jon Ogmundsson, would stop operating at midnight on Saturday. Mr. Ogmundsson has run the McDonald’s restaurants since 2004. He told Reuters that the decision to...
  • News Source: The Economic Times | 29 days ago
    McDonald's Corp said on Monday it would shutter its business in Iceland in the wake of the country's financial crisis, saying the economy and other challenges made doing business there financially impossible. The world's largest fast-food company...
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  • Blog Source: www.democraticunderground.com
    It has endured a banking crisis, a collapsing currency and it came close to “national bankruptcy.” Now Iceland is facing another blow – the loss of McDonald's. The country's three McDonald's restaurants are set to close by the end of this ...
  • Blog Source: www.sfexaminer.com
    The Big Mac, long a symbol of globalization, has become the latest victim of this tiny island nation's overexposure to the world financial crisis.
  • Blog Source: www.financialpost.com
    The first person on the island to consume a Big Mac was then Prime Minister David Oddsson, who later became governor of the central bank before his dismissal by the current ruling coalition earlier this year. ...
  • Blog Source: www.samacharexpress.com
    McDonald's is pulling out of Iceland next week, in a fresh blow to the island nation a year on from a financial crash that nearly left it bankrupt.The closure of the fast-food giant's three restaurants on Monday means Iceland will ...
  • Blog Source: www.clusterflock.org
    McDonald's, the world's largest chain of hamburger fast food restaurants, arrived in Reykjavik in 1993 when the country was on an upward trajectory of wealth and expansion. The first person to take a bite out of a Big Mac on the island ...
  • Blog Source: www.wafb.com
    Iceland's three McDonald's restaurants - all in the capital Reykjavik - will close next weekend, as the franchise owner gives in to falling profits caused by the collapse in the Icelandic krona. "The economic situation has just made it too ... That
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