Business

Forever 21, a once prominent player in the fast-fashion market, is currently facing financial difficulties that have led the company to request a rent reduction of up to 50% from its landlords. The company has over 380 stores in the U.S. and is struggling to keep up with the evolving landscape of retail. While the

The latest data on the sale of previously owned homes shows that the market is experiencing a significant slowdown, with sales sitting at a 30-year low. In May, there was little movement in sales figures, with a decrease of 0.7% compared to April. This stagnation in the market is further exacerbated by soaring prices and

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,

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,

Boeing CEO Dave Calhoun is set to address a Senate panel regarding the imperfections in the company’s culture, admitting that there is much room for improvement. The acknowledgment comes as fresh whistleblower claims have emerged just before the hearing, alleging mishandling of defective parts within the company. Calhoun, who has announced his intention to step

Senator Elizabeth Warren recently accused Fed Chair Jerome Powell of prioritizing the interests of the financial industry over the well-being of the American public. In a scathing letter obtained by CNBC, Warren expressed disappointment in Powell’s alleged advocacy for slashing the increase in capital requirements for large American banks under the Basel III Endgame proposals.

The recent Food and Drug Administration (FDA) approval of Merck’s new vaccine, Capvaxive, marks a significant breakthrough in protecting adults from a bacteria known as pneumococcus. This bacteria can lead to serious illnesses, including pneumonia, making the development of an effective vaccine crucial for public health. Capvaxive is designed to specifically protect against 21 strains

Eli Lilly has been experiencing a surge in demand for their weight loss and diabetes treatments, leading to significant growth in revenue and investor optimism. The company’s outgoing Chief Financial Officer, Anat Ashkenazi, has been instrumental in managing this success. However, despite this achievement, Ashkenazi acknowledges that there is still much work to be done.

Disney and Pixar have once again demonstrated their prowess at the box office with the release of “Inside Out 2.” The animated film made a significant impact, debuting with an estimated $155 million domestically. This impressive opening marks the second-highest theatrical opening for an animated film, indicating a strong resurgence for the genre. It is

NASA announced an extension to Boeing’s Starliner capsule mission at the International Space Station, doubling the time Calypso will remain docked with the ISS. Originally planned for a nine-day mission, the developmental nature of the mission, known as Boeing’s crew flight test, has led to an extension for further testing on the spacecraft. With crew