Throughout the year 2024, the restaurant industry has been experiencing a significant surge in bankruptcy filings, mirroring the broader rise in corporate bankruptcies across various sectors. This trend is especially noticeable in the fact that at least ten well-known restaurant chains have filed for bankruptcy this year alone. In August, three Chapter 11 filings from
Business
The landscape of cannabis consumption is evolving rapidly, with upscale dispensaries popping up in the heart of luxury shopping districts like Fifth Avenue in New York City. In the past 3 ½ years, the legalization of adult-use marijuana in New York state has fueled a surge in licensed cannabis sales, surpassing $100 million last year.
The Food and Drug Administration recently authorized Novavax’s protein-based Covid-19 vaccine for emergency use in individuals aged 12 and above. This approval comes as a significant development in the fight against the pandemic, as it provides another option for vaccination alongside the Pfizer and Moderna vaccines. Novavax’s vaccine is specifically designed to target the omicron
Best Buy surprised investors by exceeding both earnings and revenue expectations for the recent quarter. As a result, the retailer has raised its fiscal-year profit guidance, now anticipating adjusted earnings per share in the range of $6.10 to $6.35, up from the previous range of $5.75 to $6.20. While this is positive news for the
In the face of an inflation-fueled sales slump in the toy industry, Lego has managed to defy the odds and experience a significant growth in revenue. During the first six months of 2024, Lego reported a 13% jump in revenue, reaching 31 billion Danish krone, equivalent to approximately $4.65 billion. This growth is a testament
The population of crypto millionaires in the world has seen a significant increase of 95% over the past year. According to a report from New World Wealth and Henley & Partners, there are now 172,300 individuals worldwide holding more than $1 million in crypto assets. This is a substantial increase from the 88,200 recorded the
Dallas Mavericks and New Orleans Pelicans fans are eagerly anticipating the upcoming National Basketball Association season, as changes in local game broadcasting are on the horizon. Both teams are moving away from their regional sports networks owned by Diamond Sports, as revealed in a recent bankruptcy court filing. With the NBA season slated to start
The recent Monterey Car Week saw a 3% decrease in auction sales compared to the previous year. This decline can be attributed to the changing preferences of collectors, with a noticeable shift from classic cars from the 1950s and 1960s to more modern vehicles from the 1980s, 1990s, and 2000s. The rise of a new
The future of Paramount Global hangs in the balance as the special committee announced an extension of the “go shop” period within their merger agreement with Skydance. This extension comes as they review a competing offer from Edgar Bronfman Jr., who initially proposed $4.3 billion for Shari Redstone’s National Amusements. The bid includes acquiring a