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Business

“Big Lots files for Chapter 11 bankruptcy protection, plans to sell assets to Nexus Capital”

“…Big Lots Inc. has secured commitments for $707.5 million of financing, including $35 million in new financing from some of its current lenders. Once approved by the court, the financing, along with cash from its ongoing operations, is expected to… Continue Reading…

Business

“Dick’s Sporting Goods blows past earnings estimates but issues cautious guidance ahead of 2024 election”

“…The sporting goods store comes behind a string of other retailers that issued muted or cautious guidance for the back half of the fiscal year as companies prepare for the presidential election in November and what some fear could lead… Continue Reading…

Business

“Sony hikes price of aging PlayStation 5 console in Japan by 19%”

“Sony said its suggested retail price for the PlayStation 5 is 79,980 yen, or $553, up 19% from the previous price. The hike will take effect from Sept. 2. Sony cited a challenging external environment, including fluctuations in the global… Continue Reading…

Business, Stocks

“Chipotle Is Down 25% After Losing Its CEO: …”

“A big shake-up just hit Chipotle Mexican Grill (NYSE: CMG). Longtime chief executive officer (CEO) Brian Niccol just announced a surprising departure to Starbucks. Niccol has been instrumental in delivering a turnaround for Chipotle after its foodborne illness outbreaks, leading the stock to… Continue Reading…

Banking, Business

“Deutsche Bank shares rise 3% after settlement of bulk of claims in long-running Postbank suit”

“Deutsche Bank has reached settlements with nearly 60% of plaintiffs in a long-running case alleging the German lender underpaid for its acquisition of Postbank more than a decade ago. The German lender said the settlement would allow it to release… Continue Reading…

Business

“Google agrees to America’s first newsroom funding deal. It’s already unpopular.”

“…Google has brokered a first-in-the-nation deal with California lawmakers to direct millions of dollars to local newsrooms, the latest in a series of global efforts to require tech companies to support the journalism they profit from…” https://www.politico.com/news/2024/08/21/google-california-newsroom-ai-00174817 Now this is… Continue Reading…

Business

“The decline of McDonald’s: How the golden arches lost their shine”

“…McDonald’s shared that its sales had fallen by one per cent worldwide across every company segment from April to June. It might not sound like a lot, but this marks the first decline in sales that the fast food behemoth has seen… Continue Reading…

Business, Stocks

“Cisco cutting 7% of workforce, reports earnings and revenue beat for quarter”

“Cisco reported its third straight quarter of declining revenue, wrapping up its first full fiscal year drop since 2020. The company said it’s cutting 7% of its global workforce. Earnings and revenue topped analysts’ estimates. Prior to Wednesday’s close, the… Continue Reading…

Business, Stocks

AMC Update: 34.69 TRILLION Tokenized shares! The Amount Of Fraud Is Insane.

“Token Total Supply: 34,690,000,000,000.00 Total Token Holders: 2,933…” https://etherscan.io/token/tokenholderchart/0x426a688eE72811773eB64F5717A32981B56F10c1 This blows the fraud of FTX out the water. It looks like child’s play in comparison. “Did Sam Bankman-Fried’s FTX ‘Manipulate’ AMC Stock? …The Chainsaw had previously reported that it had discovered a… Continue Reading…

Business

“U.S. considers a rare antitrust move: breaking up Google”

“A bid to break up Alphabet Inc.’s Google is one of the options being considered by the Justice Department after a landmark court ruling found that the company monopolized the online search market, according to people with knowledge of the deliberations…”… Continue Reading…