Denny’s is closing 150 locations in the latest sign of the squeeze on family dining
Denny’s CEO Kelli Valade told investors that “underperforming” stores would be shut to raise annual unit volume sales to $2.2 million. Denny’s is the latest casualty of the squeeze on family dining chains, announcing this week that it plans to close about 150 locations before 2026. A Securities and Exchange filing from the chain Tuesday…
Welcome to the ‘treat yourself’ economy — where skincare and long hair rule
Retail numbers and personal care spending are up in recent months. Long, flowing locks and perfectly pampered skin are signs the economy is on the up and up — or at least, US consumers are acting like it. An uptick in retail sales and personal care spending in recent months suggests people are increasingly treating…
If South Korea decides to get involved in Ukraine, it has powerful options
South Korean soldiers on parade in Seoul. South Korea threatened to send weapons and resources to Ukraine in response to its longtime foe, North Korea, escalating support for Russia’s invasion. If it goes ahead, it could prove a powerful ally. After an emergency National Security Council meeting this week, top South Korean officials condemned North…
Tesla’s energy storage business was the highlight of its blowout earnings, and Elon Musk says it’s ‘growing like wildfire’
A rendering of Tesla’s Megapack battery system. Tesla has a secret weapon, and it’s not Elon Musk’s robotaxi or the Optimus bot. The company reported blowout earnings on the strength of its automotive sales on Wednesday — but its biggest growth area was Tesla’s burgeoning business selling batteries and solar panels, not electric cars. Revenue…
A top TikTok shopping exec explains its US growth strategy, from partnering with agencies to building up livestreaming
TikTok Shop’s US operations lead Nico Le Bourgeois presented at a company event on Wednesday. TikTok is laser-focused on shopping. Its e-commerce feature, Shop, which launched in the US about a year ago, has grown steadily as users have become more accustomed to buying products via short videos and livestreams — though some still get…
Inside Amazon’s nuclear ambitions, its ‘Piano Man’ project, and CEO Andy Jassy’s support
In June, Amazon’s Global Energy Strategy team pitched CEO Andy Jassy the idea of doubling down on nuclear power to support its growing network of data centers. The group argued that nuclear can be more reliable and cost-efficient than other clean-energy sources, such as wind and solar. Jassy agreed, according to an internal Amazon document…
Spirit Airlines is selling planes worth $500 million and cutting staff as it fights to stay in the air
Spirit Airlines has agreed to sell 23 Airbus jets worth an expected $519 million. Spirit Airlines’ woes are growing more apparent as it works to raise cash by selling planes and cutting staff. The major budget airline has struggled since its merger with JetBlue was called off in March. In January, a federal judge blocked…
Microsoft CEO Satya Nadella’s pay soars to $79 million despite asking for a smaller bonus
Microsoft CEO Satya Nadella scored a 63% pay raise for the last financial year. Microsoft CEO Satya Nadella’s compensation surged 63% to $79.1 million for the financial year ended June 30 — and would likely have been higher without his intervention. The software giant’s boss received a $2.5 million salary, $71.2 million of stock awards,…
Putin has spent years championing de-dollarization — but a new reality is setting in
Russian President Vladimir Putin played host at this year’s BRICS summit. Russian President Vladimir Putin appears to be tempering expectations on his de-dollarization drive. Putin has made it clear he’s keen to develop alternatives to the US-dollar-denominated order. He highlighted the subject at the BRICS summit held in the Russian city of Kazan from Tuesday…
