Cava reported a robust quarter with better-than-expected earnings and revenue, which led to an increase in its full-year outlook. The Mediterranean restaurant chain saw its net income soar to $19.7 million, or 17 cents per share, compared to $6.5 million, or 21 cents per share, in the previous year. Net sales also climbed a remarkable
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Edgar Bronfman Jr. has made an offer for a controlling stake in Paramount Global that could potentially keep Shari Redstone closely linked to the company. If his bid is successful, Bronfman is open to having Redstone, who currently holds the position of non-executive chairman at Paramount, continue to be involved with the company. This offer
Boeing’s Starliner capsule will be returning from the International Space Station without the NASA astronauts it delivered to orbit in early June. This decision was announced by NASA on Saturday, marking a significant change in plans for the organization. The astronauts, Butch Wilmore and Suni Williams, will now return via SpaceX’s Dragon spacecraft, which is
The Biden administration recently announced that it will be providing free at-home Covid-19 tests to American households starting in late September. This initiative comes at a crucial time as the virus continues to spread rapidly across the country, especially during the summer months. Through the COVIDtests.gov platform, Americans will have the opportunity to request up
The future of Paramount Global is still up in the air, with a number of competing offers being thrown into the mix. Edgar Bronfman Jr. recently made a bid for Shari Redstone’s National Amusements, the controlling shareholder of Paramount, initially offering $4.3 billion. However, shortly after, Bronfman upped the ante with a revised offer of
Ford Motor recently announced a major shift in its electric vehicle strategy, delaying the production of a next-generation all-electric pickup truck at a new plant in Tennessee. The company also decided to cancel plans for a three-row electric SUV and prioritize the development of hybrid models and electric commercial vehicles. This decision marks a significant
Alaska Airlines has successfully navigated through the U.S. Justice Department’s regulatory investigation to acquire Hawaiian Airlines. This comes after an extensive period of examination where antitrust regulators reviewed the proposed $1.9 billion deal between the two carriers. The fact that no lawsuit was filed to block the deal indicates that the DOJ has given its
Boeing announced on Monday that it has temporarily halted flight tests of its 777X aircraft after identifying structural damage in one of the wide-body planes. The damage was found in a custom part located between the engine and the aircraft structure during routine maintenance. As a result, the company has grounded the other three 777-9
Starbucks, a once-thriving coffee giant, has hit a rough patch in recent years due to a myriad of operational challenges, including issues with mobile orders. As incoming CEO Brian Niccol prepares to take the helm on September 9, he faces a daunting task of turning the struggling company around. With investors and executives pointing fingers
Gilead Sciences recently revealed a disturbing drug-counterfeiting operation that involved the tampering and unauthorized resale of its HIV medications, putting patients at risk. The operation, allegedly orchestrated by Peter Khaim, a known medical fraudster, took place at two pharmacies in New York City – 71st RX and Best Scripts. According to court documents, Khaim was