TGI Fridays, a popular American casual dining chain, has filed for Chapter 11 bankruptcy protection due to financial challenges exacerbated by the COVID-19 pandemic and a failed deal with UK-based Hostmore. The company, privately owned by TriArtisan Capital Advisors, operates 39 domestic restaurants and is committed to maintaining operations. The restructuring aims to optimize corporate…
The holiday shopping season is here, and retail stocks like Amazon, Costco, Best Buy, and TJX Companies are expected to do well, according to Telsey Advisory Group. The firm predicts that value-seeking shoppers will be a key theme this year, with a focus on good deals. Overall, holiday retail sales are expected to increase between…
Warren Buffett made headlines by selling off a significant portion of his Apple stake in the third quarter, leaving approximately 70% of Berkshire Hathaway’s equity portfolio concentrated in just five stocks. While the Oracle of Omaha downsized his Apple stake for the fourth consecutive quarter, he also sold off a large portion of his Bank…
Voters in the U.S. are heading to the polls for a close presidential race between Kamala Harris and Donald Trump, causing some uncertainty among business leaders. Executives at S&P 500 companies are discussing the election more than in recent cycles, with many mentioning the word “election” on earnings calls. Companies are cautious due to election…
House Speaker Mike Johnson initially suggested that Republicans would try to repeal legislation that supported U.S. production of semiconductor chips, but later clarified that the goal was to streamline it. The CHIPS Act, which poured $54 billion into the semiconductor industry, has been credited with creating jobs and attracting investments. Johnson’s comments drew criticism from…
Ukrainian President Volodymyr Zelensky recently addressed the United Nations General Assembly, expressing concern over the presence of North Korean troops in Russia. Zelensky called on Ukraine’s allies to take action against this threat before it escalates into combat. He highlighted the advancements in North Korea’s military capabilities and urged the world to not just watch,…
The Supreme Court rejected a Republican request to put on hold a Pennsylvania Supreme Court ruling that allows voters with potentially defective mail-in ballots to submit a separate provisional in-person ballot. The case arose from a dispute over two ballots in a previous election, but could potentially affect thousands of ballots in the upcoming general…
Next week in the market, investors should pay attention to the Federal Reserve meeting and earnings reports from companies like Super Micro Computer. However, CNBC’s Jim Cramer believes that the focus will primarily be on the upcoming presidential election. He highlighted key earnings reports from Berkshire Hathaway, Constellation Energy, Palantir, Builders FirstSource, Ferrari, CVS, Arm…
Nvidia’s CEO, Jensen Huang, recently spoke at the launch of the new AI supercomputer Gefion in Denmark, showcasing the company’s continued success in the semiconductor industry. Nvidia’s market cap has grown to $3.3 trillion, with shares soaring over 170% in 2024. The company’s revenue has more than doubled in the past five quarters, driven by…
Former President Donald Trump and Vice President Kamala Harris are campaigning in southwestern states to appeal to Latino voters, who make up a significant portion of eligible voters in the upcoming election. Trump is focusing on issues like inflation and border security, while Harris is presenting an economic pitch and criticizing Trump’s stance on immigration….