In the midst of market upheaval caused by a surge in longer-term yields, investors are flocking to short-term U.S. government bonds as a safe haven. The recent auction of 52-week Treasury bills at a 5.19% rate saw an overwhelming demand, reaching its highest level this year. This surge in demand for short-term bonds is driven
Business
The Arizona Coyotes, a professional ice hockey team in the NHL, recently announced a new TV deal with E.W. Scripps Co., a broadcast station owner. This move signifies a larger trend in the sports media industry, as cable TV bundles face increasing pressure due to cord cutting. With more consumers opting for streaming services, traditional
Popeyes has made a significant leap in the chicken chain industry, surpassing KFC to become the second-largest chicken chain in the United States. This milestone comes a decade after Chick-fil-A first dethroned KFC from the top spot. Over the years, the competition among chicken chains has intensified, with Chick-fil-A emerging as a nationwide powerhouse and
The ongoing strike by the United Auto Workers (UAW) union against the Detroit automakers has raised concerns about the potential impact on General Motors’ (GM) third-quarter U.S. new vehicle sales. Despite the work stoppages, GM surprised industry analysts by reporting a 21.4% increase in sales from July through September compared to the third quarter of
Fast-food drive-thru lanes have experienced significant changes in recent times, driven by shifting customer preferences and the impact of the pandemic. An annual study conducted by Intouch Insight reveals that drive-thru times have been reduced, indicating a decline in customers opting to order from their vehicles. However, this trend has also brought about new challenges
In a bold move that marks a significant shift in its business strategy, Kellogg’s, the renowned cereal giant, has announced that it will be spinning off its stable cereal business on Monday. This strategic decision reflects the company’s intention to focus on its faster-growing snack unit, as well as its aim to rebrand itself as
The ongoing dispute between the United Auto Workers (UAW) and Detroit’s automakers shows no sign of resolution, as strikes enter their second week and tensions escalate. The UAW is set to announce additional strike targets, further delaying any potential breakthrough in negotiations with General Motors, Ford Motor, and Stellantis. Frustrations have grown on both sides,
In a surprising turn of events, GameStop announced today that Ryan Cohen, billionaire activist investor and founder of pet food retailer Chewy, will be taking over as the company’s chief executive, chairman, and president, effective immediately. This move comes as GameStop continues to face significant challenges in the ever-changing video game retail landscape. However, what
The Pentagon has recently awarded Elon Musk’s SpaceX its first confirmed contract for the development of the Starshield network, a military-specific version of the company’s well-known Starlink satellite internet system. This contract, which has a maximum value of $70 million, was announced by the defense agency on Wednesday. SpaceX’s Starshield contract was part of a
The Writers Guild of America (WGA) and the Alliance of Motion Picture and Television Producers (AMPTP) have finally reached a preliminary labor agreement, bringing hope to the end of the ongoing writers strike. After months of stop-and-start negotiations, both parties have come together to draft the final contract language. This tentative deal signifies a victory