Casual-dining chains are experiencing a shift in customer behavior as consumers grow frustrated with the rising prices at fast-food establishments. Darden Restaurants CEO Rick Cardenas acknowledges this trend, noting that while Darden has not directly benefited from this shift, its competitors such as Brinker International and Dine Brands are successfully attracting customers away from quick-service
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The launch of a new program in New York offering homeowners up to $14,000 in rebates for energy-efficiency upgrades marks a significant shift in the landscape of home improvement initiatives. The program is part of the federal Inflation Reduction Act, which is the largest piece of climate legislation in U.S. history signed by President Joe
Darden Restaurants faced challenging times in their recent quarterly results, especially with Olive Garden. The Italian-inspired chain saw its same-store sales fall for the second consecutive quarter, dropping by 1.5%. This decline was unexpected, as analysts were anticipating flat same-store sales growth. In the previous quarter, Olive Garden experienced a 1.8% decline in same-store sales,
As members of Generation X, born between 1965 and 1980, approach retirement age, the pressure to save for their golden years is mounting. A report from Natixis Investment Managers in 2024 revealed that about 48% of Gen Xers are concerned that they won’t have enough money to enjoy their retirement. Additionally, 31% fear that they
The recent decrease in mortgage rates did not seem to excite consumers as much as expected. Despite the drop in average contract interest rates for 30-year fixed-rate mortgages, mortgage application volume only rose by a modest 0.9%. This minimal increase suggests that consumers may not be as responsive to rate changes as previously thought. The
Ratings agency Fitch has adjusted its predictions for China’s policy rate, pushing back expectations for a reduction until next year. Initially, Fitch projected a cut in 2024, but now anticipates that China will maintain its one-year medium-term lending facility (MLF) rate at 2.5% for the rest of this year and reduce it to 2.25% in
In recent years, the box office has been missing a crucial element – family films. While a few hits such as “Super Mario Bros.” have managed to attract audiences, many family features either opted for streaming releases during the pandemic or were spaced out so much on the calendar that any momentum was lost. However,
The United Arab Emirates has emerged as the world’s leading wealth magnet for the third consecutive year, according to the Henley Private Wealth Migration Report. The report predicts an unprecedented net inflow of 6,700 millionaires into the tiny Gulf nation by the end of 2024. This staggering number dwarfs the expected inflow of 3,800 millionaires
Recently, British fintech firm Zilch made headlines with the announcement of a $125 million debt financing deal with German banking giant Deutsche Bank. This injection of capital is set to propel Zilch into a new phase of growth, enabling the company to triple its sales in the next few years and edge closer to an
Recent data released by the U.S. Bureau of Labor Statistics has revealed a positive trend for American workers – an increase in real hourly earnings. This means that the average worker in the private sector saw their wages grow by 0.8% from May 2023 to May 2024 after accounting for inflation. This increase in real
