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Red Lobster Restaurant Chain To Be Sold For $2.1 Billion

Red Lobster Restaurant Chain To Be Sold For $2.1 Billion

Golden Gate Capital, a private equity firm, is set to purchase Red Lobster from Darden Restaurants Inc. for $2.1 billion. Darden has faced internal opposition from investors over the sale of Red Lobster but has said it does not need shareholder approval for the sale. Darden Inc. is the largest operator of full-service restaurants in the U.S. The opposition to ... Read More »

General Motors To Pay Up To $35 Million For Delay In Recall

General Motors To Pay Up To $35 Million For Delay In Recall

General Motors (GM) will pay the U.S. Department of Transportation $35 million in fines for delays in recalls from 2003-2011. The recalls concerned an ignition switch defect in small cars that was potentially fatal. The $35 million fine is a fragment of GM’s agreement with the Department of Transportation (DOT) to settle the case of whether or not GM told ... Read More »

Unemployment Below 6 Percent In Half of U.S. States

Unemployment Below 6 Percent In Half of U.S. States

In 25 states unemployment dropped below 6 percent last month, a good sign for the nation’s job market. In all, unemployment rates dropped in 43 states for the month of April. The rate of unemployment did go up in two states and remained the same in five others. Hiring is up also with 39 states adding more jobs. National “full ... Read More »

Memorial Day Road Travelers Expected To Hit 10 Year High Says AAA

Memorial Day Road Travelers Expected To Hit 10 Year High Says AAA

The nationwide travel group AAA is forecasting that the number of drivers traveling on American roads will be at a 10 year high this year. After a harsh winter and with the economy improving, almost 8 out of 10 Americans will hit the roads for Memorial Day weekend. AAA’s Chief Operating Officer Marshall Doney claims that with a nationwide case ... Read More »

Security Breach at Michaels Leaves 2.6 Million Customers At Risk

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The popular arts and crafts retailer Michaels is the latest U.S. chain-store to have its consumer’s financial data breached by hackers. In a statement released by Michaels, about 2.6 million customers’ credit and debit cards may be affected by the breach. Hackers had access to Michaels’ consumer data from May 8th, 2013 through January 27th, 2014. A Michaels’ subsidiary, Aaron ... Read More »

Target Expands Online Delivery Services With Amazon In Mind

Target Expands Online Delivery Services With Amazon In Mind

Target is targeting Amazon by expanding its online subscription services that offers home delivery for products. Target, the number two discount U.S. retailer, first introduced the service in September by offering subscribers home delivery for 150 baby products, such as baby diapers and formula. By October, consumers could order and pay for items online, then pick them up at the ... Read More »

Wal-Mart To Join Money Transfer Market

Wal-Mart To Join Money Transfer Market

Wal-Mart is entering the money transfer business in an attempt to outdo the already well-established Western Union and MoneyGram. Wal-Mart’s plan is to offer customers with a more simple and streamlined process, and that will include lower transaction fees. The new money transfer service will be called Walmart-2-Walmart and will permit patrons to transfer up to $900 to over 4,000 ... Read More »

Shares in Yahoo Spike 7.5 percent due to Strong First-Quarter Report

Shares in Yahoo Spike 7.5 percent

Shares in Yahoo Inc. spiked 7 percent in premarket trading on Wednesday due to a strong first-quarter report. The report highlighted positive news on both Yahoo’s advertising business and the fate of Alibaba, the Chinese based e-commerce mammoth, in which Yahoo has a 24 percent stake. According to the report, Alibaba’s revenue rose by 66 percent during the latest quarter ... Read More »

Fed Chair Janet Yellen Contemplating Strict Rules for Big Banks

Fed Chair Janet Yellen Contemplating Strict Rules for Big Banks

Federal Reserve Chairwoman Janet L. Yellen is contemplating whether or not to implement stricter rules for the nation’s largest banks. The rules would revolve around keeping credit flowing in the event of a new financial emergency. The Fed, in conjunction with other financial regulatory agencies, passed a new set of rules just last week placing restrictions on the eight largest ... Read More »

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