McDonald's Corp’s stock surged to an all-time high of $54.68 after it announced the largest dividend increase in its history and pledged to return more money to shareholders than Wall Street expected. The dollar’s record low against the euro also boosted McDonald’s (MCD), which has more than 6,000 restaurants in Europe. The increase came a day after McDonald’s raised its annual dividend.
In a CBS “60 Minutes” interview to be broadcast Sunday, the former Federal Reserve chairman acknowledges he failed to see early on that an explosion of mortgages to people with questionable credit histories could pose a danger to the economy. Greenspan said he was aware of “subprime” lending practices, but he said he didn’t initially realize the harm they could do.