Money, Wealth & Power—A Daily Look at the Financial World
Red Lobster, the 55-year-old seafood chain that already shuttered roughly 130 restaurants amid its 2024 Chapter 11 bankruptcy, may still close additional locations, according to comments from CEO Damola Adamolekun. Adamolekun has said the company needs to shrink further to stabilize, even as sales have shown a partial recovery, according to The Wall Street Journal….
The Supreme Court has affirmed a lower court ruling that struck down certain Trump-era tariffs, but the decision drops Apple into a legal and commercial gray area that could prove just as costly as the duties themselves. The tech giant had managed to sidestep billions of dollars in levies through a government exclusion process, yet…
Walmart Inc. plans to pay U.S. corporate employees 121% of their target annual bonuses for the fiscal year ended January 31, 2026, according to an internal company memo first reported by Bloomberg. The payout lands just four percentage points below the plan’s maximum and follows recent years of above-target rewards, based on Bloomberg’s prior reporting…
Adam Posen, president of the Peterson Institute for International Economics, is warning that U.S. inflation could hit 4% by the end of 2026, a level that would double the Federal Reserve’s target and reverse much of the progress made since the post-pandemic price surge. His argument rests on a collision of forces: tariffs that have…
Walgreens Boots Alliance is cutting more than 600 jobs across the United States, making it the latest major American company to announce sweeping workforce reductions, tied to a private equity takeover. The layoffs, which began on February 19, 2026, follow the pharmacy chain’s acquisition by Sycamore Partners in a deal valued at $10 billion. The…
Illinois Gov. JB Pritzker demanded an $8.7 billion tariff refund from the White House, turning a simmering legal dispute into a direct financial confrontation with the federal government. The demand targets duties collected under the International Emergency Economic Powers Act, or IEEPA, which a coalition of state attorneys general has challenged as unlawful. With private…
Russia’s small businesses, from neighborhood bakeries to beauty salons, are being squeezed by a sweeping package of tax changes and increases that have been discussed in the context of wartime fiscal pressure. The measures include a higher corporate profit tax and changes that expand when companies on simplified regimes must deal with VAT compliance. For…
McDonald’s is preparing to test a new beverage lineup across more than 500 U.S. restaurants, marking the chain’s most aggressive push yet into the fast-growing specialty drink category and a booming menu craze. The expanded test draws directly from lessons learned at CosMc’s, the company’s smaller beverage-focused concept, and will feature cold coffees, fruity refreshers,…
Workers across the United States are losing their jobs with little or no warning, often learning their fate through a brief email or a locked laptop rather than a face-to-face conversation. Federal law generally requires advance notice for certain large-scale cuts, but reporting and worker accounts describe employers using exceptions and other tactics that can…
Nearly six in ten U.S. employers say they intend to cut staff this year, according to a survey of 1,000 business decision-makers that points to a sharp shift in corporate hiring strategy. The findings land as companies across sectors are already acting on those plans, trimming headcount in response to economic uncertainty, trade policy disruptions,…