Business News

Via Red Lobster (NEW YORK) -- Red Lobster is in hot financial waters, attempting to stay afloat by eyeing Chapter 11 bankruptcy to restructure its debts after an endless shrimp promotion sank the seafood restaurant chain's bottom line, Bloomberg reported this week.According Bloomberg, the restaurant is considering filing for Chapter 11 on the advice of law firm King & Spalding, which would allow the chain to stay open while dealing […]

(CHATTANOOGA, Tenn.) -- The United Auto Workers achieved a landmark victory last fall, when a strike against the Big 3 U.S. carmakers delivered substantial gains for nearly 150,000 employees.The UAW stands poised for its next major test this week: A union election at a foreign-owned car plant in the South, where its workers have struggled to gain a foothold for decades.Roughly 4,000 voters at a Volkswagen facility in Chattanooga, Tennessee, […]

(NEW YORK) -- At the end of 2023, the federal government said it would update the Free Application for Federal Student Aid form, better known as FAFSA, ahead of the 2024-2025 school year. The change came three years after Congress mandated the update in 2020.But four months since the changes went into effect, the updated form has brought on more hiccups and some headaches for colleges, administrators and parents.What is […]

Pepsi Co (NEW YORK) -- PepsiCo Inc has initiated a voluntary recall of some sugar-free and caffeine-free Schweppes Ginger Ale products because they contain "full sugar," according to the U.S. Food and Drug Administration.The FDA said in a report earlier this month that the company voluntarily issued the recall on March 9. According to the report, the recall impacts 233 cases of 7.5-fluid-ounce cans (221 milliliters) cans that were shipped […]

(NEW YORK) -- Shares of Truth Social soared after the company’s market debut last month -- but the stock price has plummeted since then.After vaulting from an initial offering price of about $50 to a peak of nearly $80 in late March, the share price has dropped a staggering 68%. In early trading on Tuesday, the price stood at about $25.The sharp decline traces primarily to the company’s status as […]

Starbucks (NEW YORK) -- Starbucks is unveiling brand-new Starbucks Refreshers with a fiery new spring twist.Starting Tuesday, April 16, Starbucks will unveil new Spicy Lemonade Refreshers in three different flavors: Spicy Dragonfruit, Spicy Pineapple, and Spicy Strawberry along with a new Spicy Cream Cold Foam, the coffee chain announced on Monday.According to the announcement, the new innovations came about to hop on to the "swicy" trend of mixing sweet and […]

(NEW YORK) -- Shoppers are flocking to Costco for gold bars but they're hardly the only ones scooping up the precious metal.Investors drove gold prices to a record high on Friday, the latest surge in a 17% rally so far this year. Over that period, bullion prices have climbed more than twice as fast as the S&P 500, the index that most people's 401(k)'s track.The price gains stem from a […]

(NEW YORK) -- Tax season, beloved by few and dreaded by many, comes to a close on Monday. For some tardy filers, though, the task will just be getting started.Up to one in three Americans waits until the last minute to file their taxes, according to a 2021 survey by IPX 1031. That amounts to tens of millions of people.A portion of them will realize that they do not have […]

(NEW YORK) -- The Buy Now, Pay Later (BNPL) trend, a significant shift in shopping habits, emerged as a game-changer during the recent holiday season. It broke records and offered customers a refreshing alternative to traditional methods of making large purchases.The BNPL payment option generated $16.6 billion in online sales during the 2023 holiday season. The method allows shoppers to purchase products in installments instead of paying the full amount […]