Darden Restaurants recently reported their quarterly results, which painted a mixed picture. One of the major concerns was Olive Garden’s same-store sales falling for the second consecutive quarter. This decline was reflected in the overall flat same-store sales for Darden, as well as the negative growth in fine-dining restaurants under the company’s umbrella. In terms
Recent data from the Mortgage Bankers Association revealed that there was only a slight uptick of 0.9% in total mortgage application volume. This increase came despite a decrease in the average contract interest rate for 30-year fixed-rate mortgages. The drop in rates was attributed to the latest inflation data and FOMC meeting, yet consumers did
In recent years, the box office has been missing a crucial element – family films. While a few hits like Universal’s “Super Mario Bros.” have contributed to ticket sales, many family-friendly movies have either opted for streaming platforms or spaced out their releases, causing any momentum to fizzle out. However, in the past few months,
Fitch Ratings agency has made a significant adjustment to its predictions regarding China’s policy rate changes. The agency now anticipates that China will maintain its one-year medium-term lending facility (MLF) at 2.5% for the remainder of the year, postponing any rate cut until next year. This new forecast diverges from their earlier projection of a
The United Arab Emirates has solidified its position as the world’s top wealth magnet for the third consecutive year, as per the recent research conducted by the Henley Private Wealth Migration Report. The report suggests that the UAE is on track to witness a net inflow of 6,700 millionaires from various corners of the world
British fintech firm Zilch recently announced that it has secured $125 million in debt financing from Deutsche Bank. This deal marks a significant milestone for Zilch as it aims to triple its sales in the next few years and move closer towards an initial public offering. The financing structure involves securitization, enabling Zilch to package
Wealth transfer from one generation to the next through homeownership is a crucial aspect of building financial stability and security within families. However, issues such as heirs’ property and appraisal bias can significantly impact the ability of individuals to pass on their property and accumulate wealth. According to estimates, more than $32 billion in assessed
Boeing CEO Dave Calhoun admitted to a Senate panel that the company’s culture is far from perfect, just hours before facing fresh whistleblower claims alleging mishandling of hundreds of defective parts. This revelation comes as the company is still recovering from the fallout of two fatal crashes and is working to improve employee training, aircraft
Generation X, defined as individuals between the ages of 44 and 59, has been largely overshadowed in discussions about the upcoming Great Wealth Transfer. While the spotlight has been on millennials and Generation Z, it turns out that Gen Xers are poised to receive the largest windfalls in the near future. According to Wealth-X, the
In the past year, American workers have experienced a significant increase in their buying power due to falling inflation rates and a robust job market. Real hourly earnings in the private sector rose by 0.8% from May 2023 to May 2024, according to the U.S. Bureau of Labor Statistics. This growth in real earnings indicates