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McDonald's feels bite

McDONALD'S has reported a bigger-than-expected drop in global sales at established restaurants for February, hurt by competition and bad weather that battered its US business.

The world's biggest restaurant chain said worldwide sales at restaurants open at least 13 months fell 0.3pc last month. In Europe, however, same-store sales rose 0.6pc, in comparison to a fall of 2.6pc in Asia Pacific, Middle East and Africa region.