The Consumer Financial Protection Bureau recently made a significant announcement regarding the buy now, pay later industry. According to the agency, customers using BNPL services are now entitled to the same federal protections as credit card users. This new development comes in the form of an “interpretive rule” under the Truth in Lending Act, which
Business
In a surprising turn of events, Lowe’s managed to surpass Wall Street’s quarterly earnings and revenue expectations despite a decrease in sales of pricey items. The home improvement retailer’s performance mirrored that of its competitor, Home Depot, which fell short on revenue targets due to a challenging housing market and a delayed spring start. However,
Red Lobster, a popular seafood chain, recently made headlines after filing for Chapter 11 bankruptcy protection. The company cited reasons such as a difficult macroeconomic environment, underperforming restaurant footprint, failed strategic initiatives, and increased competition within the industry for its financial woes. With a significant amount of debt and long-term leases weighing it down, Red
Last year, media giants heavily relied on sports as they aimed to attract advertisers during the Upfronts meeting week. This was a strategic move given the Hollywood strike and cost cutting that impacted their content and star power. Fast forward to this year, even though the presentations saw the return of stars post-strike, sports still
In a setback for the United Auto Workers (UAW), Mercedes-Benz workers in Alabama have voted against union representation, according to the National Labor Relations Board. This news comes just a month after the UAW successfully organized roughly 4,330 Volkswagen plant workers in Tennessee. The voting period lasted from Monday to Friday, with 56% of the
Walmart recently announced its quarterly earnings and revenue, beating expectations across the board. The company attributed its success to significant growth in e-commerce, boosted profits from newer ventures like advertising, and an increase in high-income shoppers. As a result, Walmart now anticipates hitting the high-end of its full-year guidance, if not slightly surpassing it. The
Netflix recently announced that its cheaper, ad-supported tier has seen a significant increase in the number of global monthly active users. This move comes as part of the streaming giant’s efforts to diversify its revenue streams and attract more customers. Additionally, Netflix revealed plans to launch its own advertising platform and step away from its
AMC Entertainment has recently been thrust back into the spotlight, alongside GameStop, as its shares surged following an online post by Keith Gill, also known as “Roaring Kitty.” This surge has seen AMC shares more than double since Friday’s close, reaching above $6 in afternoon trading on Tuesday. The resurgence of retail investors rallying around
Novavax experienced a significant increase in its stock value, soaring up to 50% following the announcement of a lucrative deal with French pharmaceutical giant Sanofi. This surge in stock prices marked a substantial turnaround for Novavax, which had been facing financial challenges and uncertainties. Under the terms of the agreement, Sanofi will acquire a less
In a challenging time for the restaurant industry, some chains have managed to thrive by catering to high-income consumers. While many eateries are experiencing a slowdown in sales and traffic, fast-casual chains like Chipotle Mexican Grill, Wingstop, and Sweetgreen have reported strong numbers. This article will delve into why these chains are bucking the trend