TGI Fridays, once a pioneer in casual American dining, is reportedly on the verge of filing for Chapter 11 bankruptcy, according to multiple sources. Known for its red-and-white striped awnings and lively bar atmosphere, the restaurant chain has been a fixture of American dining since its founding in 1965. While the company has not made…
In Florida, the insurance crisis gripping the condominium market is now casting a long shadow over mortgage options available to potential condo buyers, with repercussions felt across the real estate financing landscape. This troubling trend has been exacerbated by legislative changes under Governor Ron DeSantis’ administration, adding layers of complexity for buyers, sellers, and financial…
Phillips 66’s recent announcement to close its Los Angeles-area refinery by the end of 2025 marks a significant shift in California’s energy landscape. The refinery, which consists of two facilities in Carson and Wilmington, processes crude oil and upgrades it to finished products, supplying about 8% of the state’s refining capacity. With its output contributing…
Walgreens just announced its decision to close approximately 1,200 stores across the U.S., adding to growing concerns about the worsening pharmacy desert problem, particularly for the elderly. The closures will take place over the next three years, with 500 stores expected to shutter by the end of fiscal year 2025. For hundreds of thousands of…
Donald Trump’s promise to eliminate taxes on Social Security payments has become a centerpiece of his campaign, drawing significant support from seniors who stand to benefit from the plan. The proposal, which Trump first shared in July via his social media platform Truth Social, pledges to end all taxes on Social Security income, declaring that…
Boeing, a major company that builds airplanes, is going through a tough time and has announced it will lay off 17,000 workers, which is about 10% of all the people who work there worldwide. This decision comes as Boeing is struggling with money problems, made worse by a strike that has stopped work on some…
7-Eleven has announced plans to close 444 stores across North America. This decision is part of the company’s response to several economic challenges, including a drop in sales, fewer customers, and rising inflation. The closures will affect about 3% of 7-Eleven’s 13,000 stores in the U.S., Canada, and Mexico. The convenience store chain has been…
The insurance crisis in Florida has reached unprecedented levels, with many national insurance companies fleeing the state due to skyrocketing risks from increasingly frequent hurricanes. As local private insurers also cancel policies, many Florida homeowners find themselves turning to Citizens Property Insurance Corp., the state-backed nonprofit intended as an insurer of last resort. Now, as…
As Florida braces for Hurricane Milton, projected to be a Category 3 or 4 hurricane at landfall, the potential financial impact looms large, with insured losses estimated to reach $100 billion. Analysts from Morningstar DBRS and RBC have played crucial roles in these projections, suggesting that the losses would be substantial. Citizens Property Insurance Corp.,…
In a bold legal move, McDonald’s has initiated a lawsuit against several leading meat producers, including Tyson Foods, Cargill Inc., JBS, and Swift Beef Company. Filed on October 4 in the Eastern District of New York, the lawsuit accuses these giants of manipulating beef prices through collusion—a strategy purportedly aimed at inflating costs unjustifiably. According…
