Business

CNBC reports: Spirit Airlines, an icon of budget air travel that reshaped the industry, has filed for bankruptcy protection after years of mounting losses, a failed merger and more demanding consumer tastes. The carrier early Monday said it reached a prearranged deal with its bondholders including $300 million in debtor-in-possession financing to help it through the bankruptcy, which it expects …

Road & Track reports: Tesla’s vehicles have the highest fatal accident rate among all car brands in America, according to a recent iSeeCars study that analyzed data from the U.S. Fatality Analysis Reporting System (FARS). Tesla vehicles have a fatal crash rate of 5.6 per billion miles driven. The average fatal crash rate for all cars in the United States …

The Associated Press reports: North Carolina-based Advance Auto Parts said Thursday that it would be reducing its U.S. footprint as part of a “strategic plan to improve business performance.” The company said it is shuttering a total of 523 of its Advance corporate stores, as well as four distribution centers, and exiting 204 independent locations by the middle of next …

Ars Technica reports: Amazon is shutting down Freevee, its free ad-supported streaming television (FAST) service, as it heightens focus on selling ads on its Prime Video subscription service. Amazon, which has owned IMDb since 1998, launched Freevee as IMDb Freedive in 2019. The service let people watch movies and shows, including Freevee originals, on demand without a subscription fee. Amazon’s …

CNN Business reports: KFC accused Church’s Texas Chicken of violating its trademark rights when its fried chicken competitor began using the words “Original Recipe” in its advertising and promotions. KFC claimed in a lawsuit that beginning September 30, it noticed Church’s “abruptly” began using the phrase and ignored KFC’s October 24 letter objecting to the ads. In the disputed promotions, …

Ars Technica reports: Tesla has issued yet another recall for the angular, unpainted Cybertruck. This is the sixth recall affecting the model-year 2024 Cybertruck to be issued since January. And this time, there’s no fix being delivered by a software update over the air—owners will need to have their pickup trucks physically repaired. The problem is a faulty drive unit …

CNBC reports: Thousands of Mattel’s “Wicked”-branded fashion dolls are flying off shelves, but not because of consumer demand. The toy company has been forced to pull its line of character dolls after a package misprint. Instead of listing the website for Universal’s “Wicked” movie, boxes featured a link to a pornographic website. Target, Walmart and Amazon had removed the line …

Investors Daily reports: Geo Group and CoreCivic surged again on Monday after a huge rally last week spurred by earnings and elections. CoreCivic stock and Geo stock extended gains after President-elect Donald Trump picked immigration hardliner Tom Homan as his top border official. In 2016, private prison stocks galloped ahead after Trump’s first presidential election win. Geo Group, which owns, …

The New York Times reports: All may be good in the Land of Oz, but the same can’t be said for the world of Mattel. The toy company’s latest dolls for the movie “Wicked” listed a porn website on its packaging instead of a very similar URL that promotes an upcoming film adaptation of the hit Broadway musical. Mattel said …

Courthouse News reports: Beyond trademark infringement, the city of Oakland’s change of its airport name to include “San Francisco” is also confusing travelers, attorneys for the city of San Francisco argued Thursday. During a hearing Thursday afternoon, attorney Bobby Ghajar said San Francisco International Airport (SFO) is the only entity that uses “San Francisco” to denote an airport and that …

Mediaite reports: Billionaire Jeff Bezos offered a “Big congratulations” to former President Donald Trump on his electoral win in a tweet he posted Wednesday morning. Bezos, who has been one of the top wealthiest people in the world for the entire twenty-first century so far, founded Amazon and also owns aerospace company Blue Origin and The Washington Post. His ownership …

The Guardian reports: The Republican mega-donors Dick and Liz Uihlein, who are the third largest donors in this year’s US presidential election, have sought information about who employees at their company Uline will be voting for in Tuesday’s ballot. A screenshot seen by the Guardian shows how employees at the private Wisconsin paper and office products distributor were asked to …

CNN reports: Bernard “Bernie” Marcus, the billionaire Home Depot cofounder and a Republican megadonor, who in recent years became an outspoken supporter of former President Donald Trump, has died, the company announced Tuesday. He was 95. “The entire Home Depot family is deeply saddened by the death of our cofounder Bernie Marcus,” The Home Depot said in a statement. “We …

Seattle’s NBC affiliate reports: Boeing machinists represented by IAM District 751 voted to approve a new contract with the company on Monday, bringing an end to a nearly two-month long strike that paralyzed the company’s jet production and cost them an estimated $1 billion a month. The contract received 59% approval from union membership. This latest contract proposal offers a …

The Guardian reports: Restaurant chain TGI Fridays filed for bankruptcy protection Saturday, saying it is looking for ways to “ensure the long-term viability” of the casual dining brand after closing many of its branches this year. The Dallas-based company filed for Chapter 11 bankruptcy protection in a Texas federal court. TGI Fridays executive chair Rohit Manocha in a statement said …

The Daily Beast reports: The new CEO of Starbucks said Thursday that his company is prepared in the event that unrest breaks out around the election next week. Brian Niccol, who took over at the top of the coffee giant last month, was asked in a CNBC interview if he’d to make precautionary plans. Squawk Box co-host Andrew Ross Sorkin …

CNN Business reports: Russia is seeking an unfathomable sum of money from one of the world’s biggest tech companies. Google reportedly owes the Kremlin more than 2 undecillion rubles — a 2 followed by 36 zeroes — after refusing to pay fines that are now accruing for blocking pro-Russian channels on YouTube. The virtually unpronounceable penalty amounts to $20 decillion …

Semafor reports: The Economist is taking advantage of the space vacated by US news outlets including The Washington Post, Los Angeles Times, and USA Today, and endorsing Vice President Kamala Harris in the 2024 presidential election. “It is hard to imagine Ms. Harris being a stellar president, though people can surprise you. But you cannot imagine her bringing about a …

404 Media reports: A disgruntled former Disney employee allegedly repeatedly hacked into a third-party menu creation software used by Walt Disney World’s restaurants and changed allergy information on menus to say that foods that had peanuts in them were safe for people with allergies, added profanity to menus, and at one point changed all fonts used on menus to Wingdings, …

ABC News reports: Target is helping people put an affordable meal on the table this Thanksgiving with a four-serving offering that only costs $20. The retailer announced the return of its popular Thanksgiving meal on Monday, and it’s $5 less than last year. The $20 dinner includes all the traditional Thanksgiving favorites: A Good & Gather Turkey up to 10 …