After a 17-year reign as the chair of Wendy’s, Nelson Peltz has decided to step down from his position, effective immediately. This departure comes at a crucial time for the fast-food chain as low-income consumers are eating out less, leading to a slump in Wendy’s sales. The company’s shares have fallen by more than 12%
After months of wrestling with the disconnect between the strength of the economy and the negative sentiments felt by many regarding their financial standing, economists are now seeing some positive signs. An outlook report from Michael Pearce, the deputy chief U.S. economist at Oxford Economics, suggests that the prolonged period of negative sentiment, known as
The United Kingdom is facing a troubling trend, as a record number of millionaires are expected to leave the country in 2024. This is according to the Henley Private Wealth Migration Report, which predicts a net loss of 9,500 high-net-worth individuals this year. This marks a significant increase from the 4,200 millionaires who left the
The former CEO of British chip design firm Arm, Warren East, recently spoke out about the challenges the U.K. faces in commercializing technology businesses on a global scale. He highlighted the fact that many successful firms in the U.K. tend to either move their operations abroad or list on stock exchanges in other countries, such
The recent Apple event, where the tech giant unveiled its latest slate of iPhones, Apple Watches, and AirPods, left investors unimpressed initially. Apple stock fell as the event kicked off but staged a late-day rally to close in the green. Despite hitting an all-time high in mid-July, Apple is currently almost 7% lower than those
Oracle’s shares experienced a notable 9% increase in after-hours trading following the release of its fiscal first-quarter results. The software giant exceeded Wall Street estimates on various fronts, showcasing the company’s strength and resilience in the competitive market. The company reported adjusted earnings per share of $1.39 as opposed to the expected $1.32, demonstrating a
Discount retailer Big Lots made headlines recently as it filed for bankruptcy due to a combination of high interest rates and a sluggish housing market that impacted the demand for its affordable furniture and home decor offerings. In a deal reported in court records, Big Lots agreed to sell its business to private equity firm
The IRS is still grappling with how to prevent increased audits on taxpayers earning less than $400,000. Despite this, certain aspects of your tax return can attract scrutiny, regardless of income. Experts caution that individuals should be aware of potential red flags that could prompt an audit. Although the IRS is concentrating its enforcement efforts
Despite the challenges faced in the past year, Standard Chartered CEO Bill Winters believes that China’s property market has not yet hit rock bottom. In a recent interview with CNBC, Winters expressed his concerns about the investing environment in China, citing low consumer and international investor confidence. He highlighted the fact that the property market
China recently reported that its consumer price index rose by 0.6% year on year in August, which was below expectations. This increase was primarily driven by rising food prices, as food prices climbed by 2.8% year on year in August. However, other sectors such as transportation, home goods, and rents experienced a decline in costs.