business news in context, analysis with attitude

...with brief, occasional, italicized and sometimes gratuitous commentary…

• On National Public Radio (NPR), The Salt reports that there has been a dramatic drop in olive oil production, caused by bad weather, the olive fruit fly, and a bacteria that has killed a million olive trees in Italy.

Curtis Cord, publisher of the Olive Oil Times, says that "this means global production will slip about 17 percent from 3.2 million tons in 2013 to 2.4 million tons in 2014. That's about 400,000 tons less than the world needs, he says."

As far as I'm concerned, an olive oil shortage would be indicative of the end of western civilization as we know it.

• The Associated Press reports that "McDonald’s is planning to trim its menu, review its cooking methods and maybe even get rid of some ingredients to change perceptions that it serves junk food … Starting next month, McDonald’s will cut eight items from the menu and reduce the number of Extra Value Meals to 11 from 16. But the burger chain did not say which items would be likely to go."
KC's View: