Red Lobster files for bankruptcy, but restaurants will stay open
Red Lobster has filed for voluntary Chapter 11 bankruptcy in Florida, the company confirmed in a statement late Sunday night — but it intends to keep its locations open. The…
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Are consumers pulling back on spending? It depends which CEO you ask
With higher prices and elevated interest rates stubbornly sticking around, Chipotle burrito bowls and European vacations are still on the table for many consumers. But Big Macs and kitchen remodels aren’t. The…
As their customers age, department stores chase younger shoppers
Department stores are aging — and so are their customers. For over a century, the stores won over multiple generations with a promise to sell shoppers a wide variety of…
Ivan Boesky, inspiration for ‘Wall Street’ villain Gordon Gekko, dead at 87
Ivan Boesky, a onetime Wall Street titan-turned-convict who served as the partial inspiration for the 1987 Oliver Stone film ‘Wall Street,’ has died at the age of 87. Though he…
Wendy’s will offer $3 breakfast deal, as rivals such as McDonald’s test value meals to drive sales
Wendy’s will offer a $3 breakfast combination meal starting Monday, as restaurant chains look for new ways to drive sales while consumers pull back on dining out. The deal will include…
Chevy Bolt owners to receive settlement checks after successful class-action suit over faulty batteries
Chevy Bolt owners are eligible for settlement checks as part of a $150 million class-action settlement with General Motors and South Korean industrial group LG over faulty batteries. According to…
Bruce Nordstrom, who helped grow family-led department store chain, dies at 90
SEATTLE — Bruce Nordstrom, a retail executive who helped expand his family’s Pacific Northwest department store chain into an upscale national brand, has died. Seattle-based Nordstrom Inc. said its former…
The lunch rush is dead as Americans live for the weekend
More consumers are saving their workday lunch money to burn when they’re off the clock. The rise of hybrid work has kept many bars’ and restaurants’ lunchtime business from recovering…
Frontier Airlines does away with change fees in budget airline pricing overhaul
Frontier Airlines said it will stop charging customers a fee to change their flights, taking a page from larger competitors as the Biden administration issues stricter rules targeting so-called “junk fees.”…
Dow closes at record high above 40,000 to cinch a five-week winning streak
The Dow Jones Industrial Average closed Friday above the key 40,000 level for the first time in history, a day after hitting that benchmark in the previous trading session. The 30-stock average…