Tag Archives: business

The Hill reports: Ride-hailing service Lyft announced that it will offer discounted rideshare, bike-share and scooters on Election Day, an initiative designed to increase transportation access for voters, according to a press release. Lyft plans to offer a 50 percent discount to customers who use a certain code, which will be valid from 5 a.m. to 10 p.m. in every …

NBC News reports: Walgreens said Tuesday it plans to close 1,200 stores over the next three years as it seeks to further downsize its footprint amid flagging sales and changing consumer behavior. The pharmacy chain said 500 of the closings would occur over the next 12 months. It estimates a quarter of its 8,700 stores in the U.S. are unprofitable. …

Columbus’s NBC affiliate reports: Small business owners in Lancaster say they experienced an influx of customers after their shops were included on a social media post tying them to a debated LGBTQ+ Pride event. Brandon Love, owner of fragrance and gift store Bewilderment, told NBC4 his downtown Lancaster business is one of several that saw a boost in sales when …

CNBC reports: Spirit Airlines shares tumbled to a record low on Friday after a report that it’s exploring Chapter 11 bankruptcy protection. The carrier faces a deadline this month to renegotiate more than $1 billion in debt. A bankruptcy filing would mark a dramatic turn for the carrier with its iconic yellow planes that caters to budget-conscious travelers. Spirit has …

CNN reports: Striking members of the International Longshoremen’s Association will be back to work at the ports on Friday, the union announced Thursday evening, as the union and the management group representing shipping lines, terminal operators and port authorities have reached a tentative deal on wages. The union agreed to extend the contract it had with the United States Maritime …

Bloomberg News reports: Tupperware Brands is preparing to file for bankruptcy as soon as this week, according to people with knowledge of the plans, following a years-long effort to revive the business amid waning demand. The home-goods brand, which has for much of a century defined food storage, is planning to enter court protection after it breached the terms of …

The Guardian reports: Bosses at Campbell Soup Company, whose cans feature in one of Andy Warhol’s best-known 1960s pop artworks, have announced plans to drop “soup” from its name after more than 100 years. Its chief executive, Mark Clouse, said the decision to rename the group the Campbell’s Company was part of a shift in focus to the other snack …

Bloomberg Business reports: Discount retailer Big Lots Inc. has filed for bankruptcy protection and plans to sell the firm’s assets and ongoing business in a court-supervised process. The Columbus, Ohio-based company said it filed for Chapter 11 bankruptcy in Delaware, according to a company statement. It listed assets and liabilities of $1 billion to $10 billion in its court petition. …

CNBC reports: Eighty-eight current and former top executives from across corporate America have endorsed Vice President Kamala Harris for president in a new letter shared exclusively with CNBC. Among the signers are several high-profile CEOs of public companies, including Aaron Levie of Box, Jeremy Stoppelman of Yelp and Michael Lynton, chairman of Snap. Other signers appear to be issuing their …

The Guardian reports: The tech entrepreneur Mike Lynch is among those missing after a superyacht with 22 people onboard sank off the coast of Sicily during a violent storm, the Guardian understands. Lynch, 59, known for being the founder of Autonomy Corporation, is understood to be one of four Britons reported missing while his wife, Angela Bacares, has been rescued, …

The Associated Press reports:  Prime Day, a two-day discount event for Amazon Prime members, kicks off on Tuesday and runs through Wednesday. The Better Business Bureau reminded consumers to watch out for lookalike websites, too-good-to-be-true social media ads, and unsolicited emails or calls during sales events this month. The Israel-founded cybersecurity company Check Point Software Technologies said more than 1,230 …

NBC News reports: DVD rental service Redbox is set to shut down after 22 years in business, as streaming continues to dominate the at-home entertainment market. Redbox’s parent company, Chicken Soup for the Soul Entertainment, changed its Chapter 11 bankruptcy case, filed last month, to a Chapter 7 liquidation case on Wednesday. The conversion signifies that the company couldn’t come …

NBC News reports: Target will soon stop accepting personal checks as a form of payment at checkout. In a statement to NBC News, the retail giant said it was committed to creating an easy and convenient checkout experience — but that due to “extremely low volumes,” it would no longer take personal checks starting July 15. It said it has …

CNN Business reports: Walgreens is set to close a substantial number of its roughly 8,600 locations across the United States as the company looks to reset the struggling pharmaceutical chain’s business. The company didn’t announce a specific number of store closures, but it said Thursday that it is planning “significant” closures of underperforming stores across America as part of a …

NBC News reports: More than 50 locations of Red Lobster are being auctioned off amid questions about the stalwart seafood chain’s long-term future. In a post Monday on LinkedIn, Neal Sherman, founder and CEO of TAGeX Brands, a liquidation firm, announced he was leading the closure of more than 50 Red Lobster locations, with the restaurants’ equipment to be auctioned …

CNN reports: Southwest Airlines announced Thursday it will stop serving four airports after reporting increased losses in the first quarter and more delays in the delivery of promised jets from Boeing. The four airports are Bellingham International Airport in Washington state, Cozumel International Airport in Mexico, Syracuse Hancock International Airport in New York and Houston’s George Bush Intercontinental Airport. Southwest …

The Associated Press reports: Express Inc — once a trendsetter of casual office attire that has struggled to compete with the likes of Zara and H&M — has filed for Chapter 11 bankruptcy protection. The retailer based in Columbus, Ohio also said Monday it is seeking to sell the majority of its stores. In an announcement addressing its bankruptcy filing, …

The Atlantic reports: The flow of traffic to Donald Trump’s most loyal digital-media boosters isn’t just slowing, as in the rest of the industry; it’s utterly collapsing. The Daily Caller lost 57 percent of its audience; Drudge Report was down 81 percent; and The Federalist lost a staggering 91 percent. What’s going on? The obvious culprit is Facebook. For years, …

The Christian Post is ever so pissed: Fast food chain Shake Shack is offering free Chicken Shack sandwiches every Sunday this month in an apparent jab at Chick-fil-A, known for closing on Sundays to allow employees time for rest and worship. Shake Shack’s April promotion requires a minimum purchase of $10 and features a sandwich described as a crispy, white-meat …

Axios reports: LGBTQ+ dating app Grindr has hired the founders of Athena, a 2-year-old fitness community app. Grindr aims to expand its app features into areas like travel and health, according to CEO George Arison. Grindr is known as a tool for finding nearby dates, but its users have been using it for other social connections, says Arison. Most of …