Economy brings chill winds to Coke and McDonald’s

FAST FOOD and fizzy drinks normally do well in recessions as hard-pressed consumers trade down to cheap eats. Not this time however, as the length of the slump has taken its toll on Coca-Cola and McDonald’s who both reported second quarter falls in net income of 17% and 4% respectively. The results from these two all-American icons and Olympic sponsors may be no more than a hiccough after years of growth but they are indicative of the continued strain on household finances and are embarrassing coming on the eve of London 2012.