The year 2024 has brought with it an alarming surge in restaurant bankruptcy filings, reflecting a larger trend of corporate bankruptcies across various sectors. The rising costs and reduced consumer spending have significantly impacted the restaurant industry, leading to at least 10 restaurant chains filing for bankruptcy. The current economic climate, coupled with diminishing government
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New York City, known for its luxury shopping experiences on Fifth Avenue, has taken a new turn with the introduction of cannabis dispensaries among high-end retailers like Cartier and Saks. In the past 3 1/2 years since adult-use marijuana was legalized in New York state, licensed cannabis sales have soared above $100 million. As the
The Food and Drug Administration recently authorized Novavax’s updated protein-based Covid vaccine for emergency use in individuals aged 12 and older. This move is significant as it opens up a new player in the market, allowing Novavax’s vaccine to compete with established vaccines from Pfizer and Moderna. Novavax’s vaccine specifically targets the omicron subvariant JN.1,
Best Buy recently announced that they have surpassed both earnings and revenue expectations for the most recent quarter. This positive performance has led the retailer to increase its fiscal-year profit guidance. The company now projects full-year adjusted earnings per share to be in the range of $6.10 to $6.35, up from the previous forecast of
In the midst of an inflation-fueled sales slump in the toy industry during the first half of 2024, Lego managed to defy the odds and reported a significant increase in revenue. With a 13% jump in revenue, reaching 31 billion Danish krone, or about $4.65 billion, Lego seems to be gaining market share brick by
In a recent report by New World Wealth and Henley & Partners, it was revealed that the population of crypto millionaires in the world has surged by 95% over the past year. This significant increase is largely attributed to the rise in bitcoin exchange-traded funds and the overall growth of crypto assets in the market.
Fans of the Dallas Mavericks and New Orleans Pelicans eagerly await the upcoming NBA season, wondering how they will be able to watch their favorite teams play. The recent news of both teams exiting their regional sports networks owned by Diamond Sports has left many uncertainties. With the NBA season set to kick off on
The auction sales during Monterey Car Week have faced a 3% decline from the previous year, signaling a shift in the preferences of high-net-worth collectors. This change can be attributed to a move from older classic cars to newer models, resulting in an excess of unsold classics from the 1950s and 1960s. Total sales at
The future of Paramount Global remains up in the air as the special committee announced an extension of the “go shop” period in their merger agreement with Skydance. Edgar Bronfman Jr. has put forth a competing offer worth $6 billion, challenging the initial $4.3 billion bid. This extension allows the Bronfman Consortium time until September
Ford Motor recently announced a significant shift in its electric vehicle strategy, opting to delay the production of a next-generation all-electric pickup truck at a new plant in Tennessee. Additionally, plans for a three-row electric SUV have been canceled. Instead, Ford is prioritizing the development of hybrid models and electric commercial vehicles, such as a