Semafor

Even the world's largest restaurant chain has to rethink how it competes.

In this episode of The CEO Signal, @McDonalds CEO Chris Kempczinski tells @PennyPritzker and @Edgecliffe why changing consumer habits and new competitors are prompting him to push for faster decisions and a greater appetite for risk. But McDonald's success was built on consistency and careful execution, and changing how it operates is no small task.

Kempczinski also faces the challenge of persuading thousands of independent franchisees to invest in his plans. He's clear about the direction, but pragmatic about the details: “We reserve the right to get smarter.”

With a weak board and no successor, Nvidia has been forced to confront a governance crisis.

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There’s little precedent in US corporate history for the crisis facing Nvidia after reports that Jensen Huang was targeted by a Chinese “honeytrap” operation.

The African National Congress suffered its worst-ever result in local elections, potentially shifting the balance of power in South Africa’s coalition government.

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Africa returns to global debt market but prices stay high: External debt owed by low- and middle-income countries climbed 5.5% to a record $9.4 trillion in 2025, the fastest pace since 2021.

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