After 17 years at the helm of Wendy’s, Nelson Peltz is stepping down as chair of the fast-food chain, effective immediately. This move comes at a time when low-income consumers are eating out less, leading to a slump in Wendy’s sales. The company’s shares have dropped more than 12% this year, dragging its market value
Business
Big Lots, a popular discount home goods retailer, recently filed for bankruptcy due to a combination of high interest rates and a slow housing market that impacted the demand for its affordable furniture and decor offerings. This bankruptcy filing was accompanied by a decision to sell the business to private equity firm Nexus Capital Management
Boeing’s Starliner spacecraft finally undocked from the International Space Station months later than anticipated, marking the end of a troublesome mission. Originally scheduled to depart much earlier, the capsule left the ISS without the two astronauts it transported to orbit in early June. Instead, NASA test pilots Butch Wilmore and Suni Williams will remain at
In recent years, automakers have been reevaluating their advertising strategies and are now rushing back into advertising during the National Football League (NFL) season. Companies like Toyota Motor Corporation, Hyundai Motor Company, and the Detroit automakers are gearing up to utilize the NFL and its games as their primary advertising platforms in the coming months.
Activist investor Starboard Value has taken steps to dissolve News Corp’s dual-class share structure, which poses a direct challenge to the Murdoch family’s control over the media conglomerate. This bold move has significant implications for the company’s governance and future decision-making processes. Starboard’s initiative was in the form of a non-binding shareholder resolution, indicating a
The Green Bay Packers are the only team in the National Football League that operates under a publicly owned structure. This ownership model dates back more than a century and is a stark contrast to the private ownership that is common among other professional sports teams. The Packers have undergone six stock offerings since their
As we embark on CNBC’s inaugural Official NFL Team Valuations, it is crucial to understand the intricate factors that contribute to a professional football team’s overall franchise value. The rankings, crafted by CNBC’s senior sports reporter Michael Ozanian, take into account various elements such as revenue, profit, and debt to effectively assess the financial standing
Steph Curry, the legendary four-time NBA Champion, is already strategizing for life after basketball. In a recent interview with CNBC’s “Squawk on the Street,” the 10-time NBA All-Star discussed his plans for the future, which include his existing businesses and aspirations post-retirement. At 36 years old, Curry is not only focused on excelling in the