In 2024, the restaurant industry has been grappling with a surge in bankruptcy filings, reflecting a wider escalation in corporate bankruptcies across various sectors. At least 10 restaurant chains have filed for bankruptcy this year alone, and this trend is showing no signs of slowing down. August saw three Chapter 11 filings from prominent eateries,
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The cannabis consumption landscape has undergone a significant transformation, with the emergence of luxury cannabis shops on Fifth Avenue in New York City. These high-end dispensaries now offer a wide range of premium cannabis products alongside the traditional luxury brands that line the iconic shopping stretch. With the legalization of adult-use marijuana in New York
Novavax recently received authorization from the Food and Drug Administration for their updated protein-based Covid vaccine, targeting the highly contagious omicron subvariant JN.1. This approval opens the door for Novavax to compete with Pfizer and Moderna’s mRNA vaccines in the upcoming fall and winter seasons. Unlike Pfizer and Moderna, Novavax’s vaccine is protein-based, which means
Best Buy recently announced that it exceeded earnings expectations for the most recent quarter. As a result, the retailer raised its fiscal-year profit guidance, now expecting adjusted earnings per share between $6.10 to $6.35, which is higher than the previous range of $5.75 to $6.20. However, the company did lower the top end of its
Despite an inflation-fueled sales slump hitting the toy industry in the first half of 2024, Lego managed to stand out by recording a remarkable 13% increase in revenue, reaching 31 billion Danish krone, which is approximately $4.65 billion. Niels Christiansen, CEO of the Danish toymaker, credited this growth to the strength of Lego Icons, Lego
The world has witnessed a staggering 95% increase in the population of crypto millionaires within the past year, according to a recent report. The number of individuals holding over $1 million in crypto assets has surged to 172,300 from 88,200 in the previous year, with pure bitcoin millionaires more than doubling to 85,400. This exponential
Fans of the Dallas Mavericks and New Orleans Pelicans are eagerly anticipating a new way to watch their favorite local games in the upcoming NBA season. Both teams are parting ways with their regional sports networks owned by Diamond Sports, as confirmed by a recent bankruptcy court filing. With the NBA season scheduled to kick
The classic car auction sales during Monterey Car Week experienced a 3% decline from the previous year, signaling a shift in preferences among wealthy collectors. While there is still ample money to spend in the market, it seems that the types of cars that are in demand are changing. Experts suggest that a new generation
The future of Paramount Global is currently hanging in the balance as a result of competing offers from different parties. One of the main contenders in this battle is Edgar Bronfman Jr., who initially offered $4.3 billion for Shari Redstone’s National Amusements, the controlling shareholder of Paramount. This bid included the acquisition of a minority
Ford Motor recently announced a significant shift in its electric vehicle strategy, opting to delay 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 focusing on the development of hybrid models and electric commercial vehicles. Ford CFO John