The return of football season is anticipated to bring about a surge in sports betting, with projections indicating that U.S. adults will wager a record-breaking $35 billion during the NFL season. This represents a significant increase of over 30% from the previous year’s total of $26.7 billion in wagers. Several states, including Maine, North Carolina,
Business
Ulta Beauty, a well-known beauty retailer, faced a setback recently as its shares dropped by 7% during extended trading. This dip came after the company failed to meet second-quarter expectations and had to revise its full-year guidance. The decline in same-store sales during the recent period was a significant factor in the company’s underperformance. CEO
The restaurant industry has been hit hard this year with a surge in bankruptcy filings, reflecting a broader trend across various sectors. The impacts of the COVID-19 pandemic, rising costs, and the withdrawal of government assistance have left many restaurants struggling to stay afloat. As of the mid-year point in 2024, at least 10 restaurant
The landscape of cannabis consumption is undergoing a metamorphosis, as luxury cannabis products are becoming increasingly popular. In the heart of New York City’s Fifth Avenue, shoppers can now indulge in purchasing New York state-grown marijuana joints alongside high-end fashion and jewelry brands. The recent wave of cannabis legalization in New York has paved the
In the wake of unprecedented challenges, airlines are struggling to balance the need for new aircraft with the imperative to save money. Cash-strapped, low-cost, and deep-discount airlines are reevaluating their growth plans and deferring deliveries of new planes to mitigate costs and return to profitability. The impact of engine repairs, coupled with escalating operational expenses
Amidst ongoing efforts to combat the Covid-19 pandemic, the Food and Drug Administration recently authorized the emergency use of Novavax’s updated protein-based vaccine for individuals aged 12 and above. This development opens up the opportunity for Novavax to compete with established vaccine manufacturers like Pfizer and Moderna in the upcoming fall and winter seasons. Novavax’s
General Motors recently announced its decision to integrate its all-electric BrightDrop commercial vans into the Chevrolet brand. This strategic move is aimed at boosting sales, accessibility, and recognition of the vehicles in the market. By leveraging the strength and reputation of the Chevrolet brand, GM hopes to drive volume and make it easier for customers
The toy industry experienced a slowdown in sales due to inflation pressures in the first half of 2024. However, Lego managed to defy this trend by recording a remarkable 13% increase in revenue, reaching 31 billion Danish krone. The company’s CEO, Niels Christiansen, credited this success to the strength of their product portfolio, particularly highlighting
Fans of the Dallas Mavericks and the New Orleans Pelicans are eagerly anticipating a new way to watch their favorite teams play in the upcoming National Basketball Association season. Both teams are making a significant move by exiting their regional sports networks owned by Diamond Sports, as revealed in a recent bankruptcy court filing. This
Edgar Bronfman Jr.’s recent offer for a controlling stake in Paramount Global seems to be an attempt to keep Shari Redstone closely associated with the company, should his bid be successful. This move is indicative of Bronfman’s willingness to work with existing stakeholders, such as Redstone, who currently holds a non-executive chairman position at Paramount.