Breakfast specialists Denny’s will accelerate planned store closures in 2025 amid continued consumer shifts toward preferences for fast-food and take-out options. On an earnings call Wednesday, CFO Robert Verostek said the closures would incorporate a mix of poorly performing restaurants and ones with expiring leases. According to industry publication Restaurant Dive, the new closures represent about 30 more from a ...
Consumers sharply curtailed their spending in January, indicating a potential weakening in economic growth ahead, according to a Commerce Department report Friday. Retail sales slipped 0.9% for the month from an upwardly revised 0.7% gain in December, even worse than the Dow Jones estimate for a 0.2% decline. The sales totals are adjusted for seasonality but not inflation for a month, ...
Egg rationing is here. With prices rising rapidly and showing no signs of slowing anytime soon, some of the nation’s biggest grocery store chains — including Trader Joe’s, Walmart and Costco — have begun limiting the amount of eggs individual consumers can buy. This time last year, the average price for a dozen eggs was around $3, according to the Bureau ...
Fragrance brand Brown Girl Jane’s perfume bottles sit on shelves at Sephora near some of the most storied labels in the fashion and beauty world, including Prada and Dior. For the Black-owned brand, getting a retailer to bet on it was just the start, Brown Girl Jane CEO and co-founder Malaika Jones said. She said Sephora has supported the company ...
DETROIT — As President Donald Trump threatens to further increase tariffs on U.S. trading partners, the greatest impact for the auto industry outside of North America would be additional levies on South Korea and Japan. The East Asian countries produced a combined 16.8% of vehicles sold last year in the U.S., including a record 8.6% from South Korea and 8.2% from Japan, according ...
The U.S. spirits industry maintained its market share leadership over beer and wine for a third straight year in 2024, even as revenues slid, according to new data released Tuesday. Spirits supplier sales in the U.S. fell 1.1% last year to a total of $37.2 billion, while volumes rose 1.1%, according to the annual U.S. economic report from the Distilled Spirits ...
Last week, White House crypto czar David Sacks held his first press conference to discuss the future of crypto policy coming out of the Trump administration. While that will include stablecoin legislation and digital asset regulation, Sacks told CNBC that a top agenda idea is also evaluating “whether it’s feasible to create either a bitcoin reserve or some sort of digital ...
When the Consumer Financial Protection Bureau made an appearance in the Heritage Foundation’s Project 2025 blueprint, the conservative group’s plan was simple: Abolish it entirely. Now, with a Project 2025 co-author in charge of the bureau, that idea looks like a real possibility. Over the weekend, Russ Vought, President Donald Trump’s pick to head the powerful Office of Management and ...
ScorePlay, an artificial intelligence service for sports clips, has raised $13 million in series A funding, the company announced Tuesday. The sports storytelling platform’s investors include 20VC venture capital fund founder Harry Stebbings, Reddit co-founder Alexis Ohanian’s Seven Seven Six VC firm, NBA star Giannis Antetokounmpo, former Formula 1 champion Nico Rosberg, and soccer star and former captain of the ...
The U.S. is facing a power capacity crisis as the tech sector races against China to achieve dominance in artificial intelligence, an executive leading the energy strategy of Alphabet’s Google unit said this week. The emergence of China’s DeepSeek artificial intelligence firm sent the shares of major power companies tumbling in late January on speculation that its AI model is cheaper and ...