Big Lots, a discount home goods retailer, recently announced its bankruptcy filing due to high interest rates and a sluggish housing market which resulted in decreased demand for its low-priced furniture and decor. The Chapter 11 filing involves the sale of the business to private equity firm Nexus Capital Management for approximately $760 million. This
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Boeing’s Starliner recently undocked from the International Space Station, much later than originally planned, and without the two astronauts it had delivered to orbit in early June. The test pilots that were supposed to return with the spacecraft, Butch Wilmore and Suni Williams, will now remain at the ISS until February, returning to Earth aboard
The Green Bay Packers stand out as the only National Football League team with an ownership structure that resembles a publicly traded company. With a valuation of $6.3 billion, the Packers are ranked as the 12th most valuable NFL franchise. This unique structure, established over 100 years ago, sets the Packers apart from the other
When Jerry Jones took over as the owner of the Dallas Cowboys in 1989, the team was facing financial struggles with losses of $1 million a month. However, Jones quickly turned things around with bold moves on and off the field that transformed the franchise into the most valuable team in the NFL today, worth
Molson Coors recently announced that it will be reversing its diversity, equity, and inclusion policies regarding supplier diversity quotas. In an internal memo, the executives of the company stated that they will be eliminating these quotas as they believe they can be “complicated and influenced by factors outside of [the company’s] control.” This decision has
As a four-time NBA Champion, Steph Curry’s illustrious basketball career is already the stuff of legends. However, the 10-time NBA All-Star is not content to rest on his laurels. In a recent interview with CNBC’s “Squawk on the Street,” Curry revealed his plans and aspirations for life after the NBA. From his thriving media company,
In 2024, there has been a significant surge in restaurant bankruptcy filings, reflecting a broader rise in corporate bankruptcies across various sectors. This trend has been primarily influenced by a combination of factors that have impacted the restaurant industry, such as reduced consumer spending, escalating labor costs, and the withdrawal of Covid-era government assistance programs.
The legalization of adult-use marijuana in New York has sparked a booming industry where cannabis consumption has made its way to the luxurious strip of Fifth Avenue. Shoppers can now enjoy the shopping experience by not only picking out high-end fashion pieces but also purchasing premium marijuana products from licensed dispensaries. This shift marks a
The Food and Drug Administration recently authorized Novavax’s updated protein-based Covid vaccine for emergency use in individuals aged 12 and older. This approval now allows Novavax to compete with well-established vaccines from Pfizer and Moderna during the upcoming fall and winter months. Novavax’s vaccine specifically targets the omicron subvariant JN.1, which has been rapidly spreading
Best Buy announced an increase in its fiscal-year profit guidance, surpassing both earnings and revenue expectations for the most recent quarter. The retailer now anticipates full-year adjusted earnings per share to fall within the range of $6.10 to $6.35, a significant jump from the previous range of $5.75 to $6.20. Despite this positive development, Best