BUSINESS DIGEST | McDonald’s may increase prices

McDonald’s may increase prices

PORTLAND, Ore.

McDonald’s affordable food drew even more customers in its fourth quarter, but the burger chain said it may raise prices this year as its own food tab rises.

Worries about rising costs at the world’s largest hamburger chain gave some investors pause even as McDonald’s ended a banner year in which it outperformed its competitors. Its emphasis on low-priced items and an expanding menu, including the limited-time McRib and its McCafe coffee line, helped sales grow all year.

McDonald’s Corp., based in Oak Brook, Ill., reported that its net income rose 2 percent to $1.24 billion, or $1.16 per share, for the quarter. That’s up from $1.22 billion, or $1.11 per share, a year ago.

Revenue climbed 4 percent to $6.21 billion.

AIG CEO to stay despite cancer

BOSTON

American International Group Inc. said Monday that CEO and President Robert Benmosche is healthy enough to remain in his leadership post as he continues undergoing treatment for cancer.

Monday’s announcement came three months after the New York insurance company said Benmosche had been diagnosed with cancer and was undergoing aggressive chemotherapy. The company has not specified what kind of cancer Benmosche has.

The 66-year-old said in a news release Monday that doctors have given him “an encouraging prognosis,” and that he feels “good.”

Since he has responded well to treatment, Benmosche said his doctors “believe I can continue to apply the same commitment and energy to AIG over the next 12 to 18 months.”

Associated Press