A bankruptcy court approved Red Lobster’s plan to exit Chapter 11, putting the seafood chain one step closer to exiting bankruptcy. The company, known for its seafood offerings and cheddar biscuits, filed for bankruptcy protection in May. Red Lobster…
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Business
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There is a $2 billion gulf growing in Los Angeles. The National Football League’s Los Angeles Rams, No. 2 on CNBC’s Official 2024 NFL Team Valuations list, are worth $8 billion, while the Los Angeles Chargers rank 26th at a…
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Business
Nvidia’s $279 billion wipeout — the biggest in U.S. history — drags down global chip stocks
by adminGlobal semiconductor and associated stocks fell on Wednesday, following a steep plunge in Nvidia’s share price in the U.S. overnight. In the U.S., chipmaker Nvidia plunged more than 9% in regular trading, leading semiconductor stocks lower amid…
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Comcast’s NBCUniversal has a longstanding bet on the Olympics, but this summer the company threw all of its resources at the Games in a bid to grab more viewership — especially for its growing streaming platform,…
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Business
ESPN networks, ABC and Disney channels go dark on DirecTV on a busy night for sports
by adminESPN has gone off the air on a major carrier for the second straight year during the U.S. Open tennis tournament and in the midst of the first full weekend of college football. Disney Entertainment…
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Football is back, and it’s expected to bring with it record-breaking betting. U.S. adults will wager $35 billion this NFL season, according to projections from the American Gaming Association. That would mark more than 30%…
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Business
Volkswagen braces for showdown with unions after warning of possible German plant closures
by adminGerman automotive giant Volkswagen is bracing for a showdown with trade unions shortly after it said it cannot rule out shutting factories in its home country for the first time in its nearly 90-year history. Volkswagen’s management is expected…
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Airlines that spent years clamoring for new jets are changing their tune. Cash-strapped, low-cost and deep discounter airlines are putting off spending billions of dollars on new aircraft to save money as they try to…
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Even as mortgage interest rates were rising, home prices reached the highest level ever on the S&P CoreLogic Case-Shiller U.S. National Home Price Index. On a three-month running average ended in June, prices nationally were…
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Even as mortgage interest rates were rising, home prices reached the highest level ever on the S&P CoreLogic Case-Shiller U.S. National Home Price Index. On a three-month running average ended in June, prices nationally were…