In a significant industry shake-up, German-based discount supermarket Aldi has announced plans to acquire approximately 400 Winn-Dixie and Harveys Supermarket locations in the Southern United States. This move will not only involve taking over the operations of these stores but also potentially rebranding them under the Aldi name. With the deal set to be finalized
Business
The stock of Bloomin’ Brands, the parent company of Outback Steakhouse, experienced a 9% increase in premarket trading after an activist investor, Starboard Value, disclosed its interest in the restaurant company. According to a regulatory filing, Starboard Value now owns 9.9% of Bloomin’s shares. This development has sparked curiosity and speculation about the future of
Moderna, one of the leading biotech companies, has announced promising results from an early clinical trial of its new Covid vaccine. The updated vaccine is specifically designed to target the omicron subvariant XBB.1.5, but the findings indicate that it may also be effective against other rapidly spreading variants, including Eris and Fornax. This development comes
Target Corporation, the big-box retailer, has reported disappointing quarterly sales results and has revised its full-year forecast, as it continues to struggle to convince consumers to make non-essential purchases. The company has reduced its expectations for both sales and profit, reflecting concerns about inflation and the economic landscape. Despite better-than-expected quarterly earnings and improved inventory
In today’s digital age, the decline of traditional television continues its downward spiral. According to Nielsen’s monthly streaming report, The Gauge, total traditional TV usage, including both broadcast and pay-TV, dropped below the 50% mark for the first time ever in July. The numbers speak for themselves – usage among pay-TV customers fell to 29.6%
Telesat, the Canadian telecommunications satellite operator, has made a significant announcement regarding its ambitious Lightspeed global internet network. The company has opted to switch suppliers for the construction of this groundbreaking project, choosing Canadian space company MDA over French-Italian manufacturer Thales Alenia Space. This strategic move is expected to result in substantial savings of approximately
In the wake of devastating wildfires in Maui, several major airlines including American Airlines, Southwest Airlines, and Alaska Airlines have taken steps to assist customers and facilitate their departure from the affected areas. The wildfires, which have tragically claimed the lives of at least 36 people and prompted widespread evacuations, have left behind a trail
In a bold move, Disney’s ESPN has announced its foray into the world of sports betting with the launch of ESPN Bet. Partnering with U.S. gambling company Penn Entertainment, ESPN will rebrand and relaunch Penn’s Barstool Sportsbook as its exclusive sports-betting platform. This strategic collaboration marks ESPN’s first branding effort in the sports-betting space and
As the mortgage rates continue to rise, potential homebuyers are facing an increasingly challenging situation. Not only are they dealing with higher interest rates, but now it has become even more difficult to qualify for a mortgage. According to the Mortgage Bankers Association (MBA), the credit availability index has dropped to its lowest level since
The sports trading card industry has recently become a battleground for two major players, Fanatics and Panini. These industry giants have found themselves entangled in a legal battle, each filing lawsuits against the other. Panini kicked off the clash by filing an antitrust lawsuit against Fanatics, accusing them of engaging in “calculated, intentional, anticompetitive conduct”