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☆ Red Lobster bought a lot of shrimp from its Thai owner. Now, the new CEO is investigating.
▼ + stars: | 2024-05-21 | by ( Meghan Morris | ) www.businessinsider.com time to read: +1 min

Red Lobster filed for Chapter 11 bankruptcy after suffering significant financial losses. CEO Jonathan Tibus questioned the company's purchasing processes, including from owner Thai Union. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . But the company's CEO faulted owner and key seafood supplier Thai Union for its role in the shrimp debacle — and in Red Lobster's trajectory — in a filing on Sunday. Jonathan Tibus, a turnaround expert who took the CEO job in March, wrote that Red Lobster had long bought much of its shrimp from owner Thai Union.

Persons: Jonathan Tibus, — Organizations: Thai Union, Service, Business

☆ Raisi helicopter crash: Some in Iran claim US sanctions to blame but the truth may be more complicated
▼ + stars: | 2024-05-21 | by ( Nic Robertson | ) edition.cnn.com time to read: +5 min

CNN —Even before Iran’s army chief Mohammad Bagheri ordered an investigation into the helicopter crash that cost the Islamic Republic the lives of two of its top politicians, blame was being laid at America’s door. People mourn the death of President Ebrahim Raisi and Foreign Minister Hossein Amir-Abdollahian in a helicopter crash the previous day, at Valiasr Square, on May 20, 2024 in Tehran, Iran. The next question might be, knowing the weather was bad and having three helicopters on the journey, why put both president and foreign minister in the same aircraft? Former Foreign Minister Zarif would want the world to believe Iran’s technological core has been hollowed out by US sanctions, but that allegation too is tainted by hubris. Iran’s presidents are not idle, they need to go places.

Persons: Mohammad Bagheri, Ebrahim Raisi, Javad Zarif acidly, Abdulkadir Uraloglu, Raisi –, Hossein Amir, Abdollahian, Malek Rahmati, Mohammed Ali Alehashem –, Ilham Aliyav, Majid Saeedi, Yemen’s Houthis, AKINCI, Ali Khamenei, –, Russia –, Zarif, Raisi Organizations: CNN, Islamic, Bell, Turkish Transport, Revolutionary Guard Corps, Former Locations: Islamic Republic, America’s, United States, Iran, Vietnam, Azerbaijan, Tabriz, Tehran, Turkish, Russia, Ukraine, Turkey

☆ Elon Musk is mourning the loss of Red Lobster too
▼ + stars: | 2024-05-21 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +1 min

Red Lobster filed for bankruptcy on Sunday and Elon Musk is sad to see them go. I have some fond memories from a long time ago of eating at Red Lobster," he said. AdvertisementElon Musk wasn't happy when he found out that Red Lobster is filing for bankruptcy. On Sunday, the seafood chain said in a statement that it had filed for Chapter 11 bankruptcy. Red Lobster said its restaurants will "remain open and operating as usual during the Chapter 11 process."

Persons: Elon Musk, —, Elon Organizations: Sunday, Service

☆ Tech giants pledge AI safety commitments — including a ‘kill switch’ if they can’t mitigate risks
▼ + stars: | 2024-05-21 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

A slew of major tech companies including Microsoft , Amazon , and OpenAI, on Tuesday agreed to a landmark international agreement on artificial intelligence safety at the Seoul AI Safety Summit. The agreement will see companies from countries including the U.S., China, Canada, the U.K., France, South Korea, and the United Arab Emirates, make voluntary commitments to ensure the safe development of their most advanced AI models. In those sorts of extreme circumstances, companies say they will implement a "kill switch" that would see them cease development of their AI models if they can't guarantee mitigation of these risks. "It's a world first to have so many leading AI companies from so many different parts of the globe all agreeing to the same commitments on AI safety," Rishi Sunak, the U.K.'s prime minister, said in a statement Tuesday. "These commitments ensure the world's leading AI companies will provide transparency and accountability on their plans to develop safe AI," he added.

Persons: Rishi Sunak Organizations: Microsoft, Seoul AI Safety, United Arab Locations: Seoul, U.S, China, Canada, France, South Korea, United Arab Emirates

☆ Supernova or Coronavirus: Can You Tell the Difference?
▼ + stars: | 2024-05-21 | by ( Katrina Miller | More About Katrina Miller | ) www.nytimes.com time to read: +2 min

Can you tell the difference between microscopic and massive? Red whirls on this rabbit’s tongue are filiform papillae, which roughen the tongue and help move food around the mouth. Purple and white “spike” proteins on this popular model of the coronavirus help it attach to and enter our cells. These might remind you of …… the clumps of cosmic debris in Tycho’s supernova, a star that may have exploded at many points simultaneously. Its concentric rings resemble …… the raging vortex at Saturn’s north pole, where green, pink and blue correspond to clouds of increasing depth.

Persons: Kim Arcand, NASA’s Chandra, … Organizations: Smithsonian Astrophysical

☆ Jim Cramer looks at Red Lobster's recent troubles
▼ + stars: | 2024-05-21 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Jim Cramer looks at Red Lobster's recent troubles'Mad Money' host Jim Cramer looks at Red Lobster's recent bankruptcy and what it means for the market.

Persons: Jim Cramer

☆ WBD's streaming chief JB Perrette reveals the plan to get Max growing
▼ + stars: | 2024-05-21 | by ( Lucia Moses | ) www.businessinsider.com time to read: +5 min

Discovery's Max was supposed to become a Netflix killer when it rolled out a year ago. It combined HBO Max's prestige originals with Discovery+'s reality TV fare to capture viewers as they migrate away from WBD's bedrock traditional TV business. Related storiesGiven its low penetration, it's possible that Max can add tens of millions of subscribers, he said. WBD execs hope the crackdown will encourage people to subscribe to the three-in-one bundle of Max, Disney+, and its sister app, Hulu. While the overlap between Netflix and Disney+ is high, about half of Disney+ subscribers don't subscribe to Max, and vice versa, so each has a chance to significantly increase its audience.

Persons: —, Discovery's Max, WBD, Max, hasn't, JB Perrette, Perrette, We're Organizations: Service, Warner, Netflix, HBO, Disney, Hulu, Business, Nielsen, Vodafone, Amazon, Paris Olympics, Cartoon Network Locations: WBD, Orange

☆ The Power of the Kennedy Look
▼ + stars: | 2024-05-21 | by ( Vanessa Friedman | ) www.nytimes.com time to read: +1 min

Robert F. Kennedy Jr., the most attention-getting independent candidate for president since Ross Perot, may not have the poll numbers to end up on the debate stage next month. But he increasingly has something else: a reputation as the electoral “X factor.” Which means it is increasingly impossible to ignore what may be termed his “P factor.” Or even “K factor.”“P” being prep and “K” being Kennedy. In an election fought partly through the images that inundate social media and pit archetype against archetype — Donald J. Trump, the 1980s red-tie-wearing sultan of reality TV, versus President Biden, the aviator-clad deal maker of D.C. — Mr. Kennedy offers a Rorschach test of a different kind. At least stylistically speaking. His look — skinny rep ties, button-downs, shrugged-on suits, shock of gray hair and weather-beaten tan — not only sets him apart.

Persons: Robert F, Kennedy Jr, Ross Perot, ”, Kennedy, — Donald J, Trump, Biden, — Mr, Sean Wilentz Organizations: Princeton University

☆ Buying a dream home in Italy can be a nightmare. This couple says they have the answer
▼ + stars: | 2024-05-20 | by ( Silvia Marchetti | ) edition.cnn.com time to read: +8 min

The couple has set up a flourishing business buying properties, restyling and reselling them, ready-to-occupy, helping foreign buyers every step of the way. They hunt for old houses in historical villages in need of a makeover, which once renovated make the perfect summer getaway. The BEFORE picture: The couple find old houses in need of a makeover. The old properties the pair handles are located in small towns where centuries-old traditions survive. I really like old houses and the idea of giving them a second chance: especially when they are abandoned buildings rich with history.

Persons: you’ve, That’s, Bruno Mongiardo, Ginevra dell’Orso, ” Dell’Orso, Dell’Orso, –, ”, “, they’re, Mongiardo, ” Mongiardo, dello Organizations: CNN, Graecia, Bruno Mongiardo Southern, Locals, Foreigners Locations: Italy’s, Calabria, characterful, Isca, Italy’s Calabria, Venice, Milan, Badolato, Calabrian, Sostene, Santa

☆ Seismic storm hits Italy’s Campi Flegrei super volcano with strongest earthquake in 40 years
▼ + stars: | 2024-05-20 | by ( Barbie Latza Nadeau | ) edition.cnn.com time to read: +1 min

CNN —A 4.4 magnitude earthquake struck Italy’s Campi Flegrei super volcano Monday evening, causing mild damage in the town of Pozzuoli, the epicenter, and as far away as the city of Naples, some 20 kilometers (12 miles) away, according to Italy’s National Institute of Geophysics and Volcanology (INGV). The 4.4 earthquake at a depth of 3 kilometers is the strongest earthquake to hit the highly seismic area in the past 40 years, according to INGV data. The quake is part of an ongoing “seismic storm” that has seen more than a dozen events over 2.0 magnitude in the past 48 hours. The INGV recorded 1,252 earthquakes in the Campi Flegrei area in the month of April 2024, most with a magnitude less than 1.0. More than 500,000 people live in the red zone directly adjacent to the Campi Flegrei, according to the Italian Civil Protection agency, which has been working this year to update evacuation plans in the event of a major disaster.

Organizations: CNN, National, of Geophysics, Fire Brigade, Italian Civil Locations: Pozzuoli, Naples, Italian, Mt

☆ Cher says she plans to celebrate her 78th birthday with a pillow over her head and screaming
▼ + stars: | 2024-05-20 | by ( Amanda Goh | ) www.businessinsider.com time to read: +1 min

She told Entertainment Tonight that she plans to celebrate her birthday by "putting my pillow over my head and screaming." The "Believe" singer previously said she'll continue to wear jeans and have long hair even when she's 80. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . During the red carpet, Cher told Entertainment Tonight that she plans to celebrate her birthday by "putting my pillow over my head and screaming."

Persons: Cher, she'll, —, Bob Mackie Organizations: Entertainment, Service, Business Locations: Los Angeles

☆ Tick season: How to remove ticks and what to know about these bloodsuckers
▼ + stars: | 2024-05-20 | by ( Kate Golembiewski | ) edition.cnn.com time to read: +9 min

There are more than 800 species of ticks found around the world, and 84 that have been documented in the United States. The most common ones are blacklegged ticks (also known as deer ticks, but they feed on lots of animals besides deer), lone star ticks, American dog ticks and brown dog ticks. However, only female ticks drink to the point that they become engorged. Preventing tick bitesThe diseases carried by ticks can be debilitating or even life-threatening, and the risk of infection increases the longer a tick has been on you. Yes, they can be a public health concern, but we don’t want you to let ticks keep you indoors,” she said.

Persons: ”, Kait Chapman, Thomas Mather, ” Chapman, Lyme, they’ll, “, Mather, Chapman, permethrin, Kate Golembiewski Organizations: CNN, University of Nebraska, University of Rhode, Vector, Environmental Protection Agency Locations: United States, Lincoln, University of Rhode Island, Lyme, Cedars, Chicago

☆ US Navy warships in the Red Sea are fighting off missiles new to combat that are 'way faster' than anything else, destroyer captain says
▼ + stars: | 2024-05-20 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

Since then, the Iran-backed rebels have fired dozens of anti-ship ballistic missiles into the Red Sea and Gulf of Aden. An anti-ship ballistic missile "is just way faster than anything else, Cmdr. Jeremy Robertson, captain of the guided-missile destroyer USS Carney, told reporters during a media event on Monday. The Houthis maintain a sizable arsenal of anti-ship ballistic missiles, according to an analysis by the the International Institute for Strategic Studies think tank. US Navy guided-missile destroyer USS Carney defeats a combination of Houthi missiles and drones in the Red Sea on October 19, 2023.

Persons: —, Jeremy Robertson, Carney, MCS2 Aaron Lau, Robertson, we've, Dwight D, Eisenhower, Petty, Bill Dodge, The Carney, Lisa Franchetti, Franchetti Organizations: Service, Navy, Business, US Navy, International Institute for Strategic Studies, Central Command, AP, Israel, Naval, Fleet Locations: American, Iran, Gulf of Aden, Suez, Yemen, Tehran, Washington, Pacific, China, Souda Bay, Greece, Mayport , Florida

☆ DJT: Trump Media reports $770,500 revenue for first quarter, net loss of $327.6 million
▼ + stars: | 2024-05-20 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

This photo illustration shows an image of former President Donald Trump reflected in a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022. Trump Media & Technology Group, the parent company of Donald Trump's Truth Social platform, disclosed a net loss of $327.6 million in the first quarter of the year, with total revenue at $770,500, according to its earnings report, filed Monday with the Securities and Exchange Commission. "We are particularly excited to move forward with live TV streaming by developing our own content delivery network, which we believe will be a major enhancement of the platform," Nunes added. In April, the company announced that Truth Social would launch a TV streaming platform in three phases, the first for Android, iOS, and Web. In its Q1 report, TMTG said it has signed contracts with its first data center partner, which would host the TV platform, and a hardware vendor to provide equipment.

Persons: Donald Trump, Donald Trump's, Devin Nunes, Nunes, TMTG Organizations: Trump Media & Technology Group, Securities and Exchange Commission, Nasdaq, Android, SEC, BF Locations: Washington ,

☆ Aggression or Caution: The Choice Facing Iran’s Next Leaders
▼ + stars: | 2024-05-20 | by ( David E. Sanger | ) www.nytimes.com time to read: +1 min

In their three years in power, President Ebrahim Raisi of Iran and his equally hard-line foreign minister, Hossein Amir Abdollahian, did everything they could to consolidate the “Axis of Resistance” against the United States and Israel. They armed the Houthis, feeding the militia intelligence that fueled attacks on cargo ships in the Red Sea. But for all those aggressive moves, the two men, both killed in a helicopter crash in the mountains near Azerbaijan on Sunday, were also careful. Last week, days before their deaths, they approved talks with the United States through intermediaries aimed at making sure the war in Gaza was not the prelude to a wider war in the Middle East. And they stopped just short of making those bombs, at least as far as American intelligence agencies and international inspectors can determine.

Persons: Ebrahim Raisi, Hossein Amir Abdollahian, Israel Organizations: Hezbollah Locations: Iran, United States, Israel, Red, Azerbaijan, Gaza

☆ Red Lobster, an American Seafood Institution, Files for Bankruptcy
▼ + stars: | 2024-05-20 | by ( Ali Watkins | More About Ali Watkins | ) www.nytimes.com time to read: +1 min

Versatile and resilient, the lobster survives by molting, shedding its skin and growing into a new, bigger shell. Red Lobster said it planned to reduce its locations as it prepared to to sell most of its assets. In the meantime, surviving Red Lobster restaurants will remain open. It has been a painful, slow end for Red Lobster, whose death throes were telegraphed earlier this year when the company reportedly sought to restructure its debt. After decades as a General Mills subsidiary, Red Lobster was purchased by a private equity firm in 2014, and bolstered by a 2020 investment from a Thai seafood conglomerate.

Persons: molting Organizations: General Mills

☆ Red Lobster files for bankruptcy
▼ + stars: | 2024-05-20 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: 1 min

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A sign is posted on the exterior of a Red Lobster restaurant on April 17, 2024 in Rohnert Park, California. Red Lobster has filed for Chapter 11 bankruptcy protection, continuing the process to shrink its footprint and find a buyer, the company said in a statement. CNBC reported last month Red Lobster was seeking a buyer, weighed down by significant debt and long-term leases. At the time, it was tough to predict that Red Lobster would see sales drop as much as they have. "This restructuring is the best path forward for Red Lobster," Tibus said in a statement late Sunday.

Persons: — Jonathan Tibus, Alvarez, Marsal, Tibus, Red, we've, General Mills, Darden, Kim Lopdrup, Paul Kenny's, Kenny Organizations: CNBC, Golden, Darden, Food, General, Thai Union Group, Thai Union, Red Lobster, Seafood Alliance, Thai Locations: Rohnert Park , California, U.S, Canada, Orlando , Florida, Olive, Thai

☆ Opinion | Ruben Gallego and the Fight for Arizona
▼ + stars: | 2024-05-20 | by ( Tom Zoellner | ) www.nytimes.com time to read: +1 min

Arizona has become an epicenter of political discord and conflict over issues that have roiled the national discourse. In the fall, the outrage over an abortion ban from 1864 and a potential ballot initiative on the issue are likely to motivate Democrats, and the outrage over chaos at the border is likely to motivate Republicans. The margins in recent elections have been razor-thin: Purple Arizona is very much up for grabs in this election and beyond. Democrats might be thinking about building on their success in recent elections to secure the state as a future Sun Belt bulwark. Democrats are hoping that future may be embodied by Representative Ruben Gallego, who is running for a Senate seat to replace Kyrsten Sinema.

Persons: Representative Ruben Gallego, Kari Lake Organizations: Sun, Representative, Kyrsten, Republican Locations: Arizona, Texas, Florida

☆ Everything Bella Hadid has worn on Cannes Film Festival red carpets, ranked from least to most daring
▼ + stars: | 2024-05-20 | by ( Amanda Krause | ) www.businessinsider.com time to read: 1 min

Bella Hadid wore her simplest Cannes Film Festival look at the 2018 event. Bella Hadid attends the "Ash Is Purest White" screening at Cannes on May 11, 2018. Loic Venance/Getty ImagesShe walked the red carpet in a strapless, mauve ball gown designed by Christian Dior, as well as a diamond necklace and bracelet. Her long, straight hair and neutral makeup were equally elegant.

Persons: Bella Hadid, Loic Venance, Christian Dior Organizations: Cannes

☆ Inside Chef Carla Hall's fridge, from Costco staples to the one thing she always buys on sale
▼ + stars: | 2024-05-20 | by ( Lizzy Briskin | ) www.businessinsider.com time to read: +6 min

Hall's fridge is a trove of fun finds, from condiments we know and love to fancy European butter and an ample supply of eggs. AdvertisementA peek inside Carla Hall's fridge. Carla HallSundae fixingsCarla Hall's fridge had a few ice-cream flavors. "The one thing that I get when it's on sale is any kind of European-style butter," Hall said. AdvertisementMystery leftoversIf you're curious about the container with reddish contents in the center of Hall's fridge, join the club.

Persons: —, Carla Hall, Hall's, Carla Hall Sundae, Carla Hall's, Tyler Le, Ben, She's, Grey Poupon, Heinz, Grey Poupon Dijon, Amaro, amaro, unsalted Organizations: Service, Business, QVC, Walmart, Safeway, Costco Locations: gander, Washington ,, Jeni's, Tillamook, Southern

☆ Red Lobster just filed for bankruptcy — but it's not going to disappear
▼ + stars: | 2024-05-20 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Read previewRed Lobster has filed for Chapter 11 bankruptcy, the seafood restaurant chain announced in a statement on Sunday. However, Red Lobster added its remaining restaurants will "remain open and operating as usual during the Chapter 11 process." Filing for Chapter 11 bankruptcy allows a company to stay in business while it restructures its assets. The firm said it had received a $100 million debtor-in-possession agreement from its existing lenders, which will now take control of Red Lobster. Advertisement"This restructuring is the best path forward for Red Lobster," Tibus said.

Persons: —, Jonathan Tibus, Tibus, we've Organizations: Service, Business, Thai Union Group

☆ How Trump’s Hush-Money Case Failed to Capture America’s Imagination - The New York Times
▼ + stars: | 2024-05-20 | by ( Michelle Goldberg | ) www.nytimes.com time to read: +2 min

If I’d pictured Donald Trump’s first criminal trial a few years ago, I’d have imagined the biggest, splashiest story in the world. In a recent Yahoo News/YouGov poll, only 16 percent of respondents said they were following the trial very closely, with an additional 32 percent following it “somewhat” closely. When people were asked how the trial made them feel, the most common response was “bored.” TV ratings tell a similar story. “Network coverage of Donald Trump’s hush money trial has failed to produce blockbuster viewership,” Deadline reported at the end of April. I’m aware of no similar effort to dramatize this trial’s testimony, and I almost never hear ordinary people talking about it.

Persons: Donald Trump’s, ”, Yahoo News’s Andrew Romano, who’d, Robert Mueller’s, Robert DeNiro, Rosie Perez, Laurence Fishburne, you’re, you’ve, Trump, — Organizations: Republican, Yahoo, Cable, MSNBC

☆ How Red Lobster’s misguided endless shrimp promotion drove it into bankruptcy
▼ + stars: | 2024-05-20 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

Red Lobster filed for bankruptcy Sunday, and the bankruptcy filing sheds new light on Thai Union’s role in the endless shrimp mishap. Red Lobster said it is investigating the circumstances of that promotion, which Red Lobster management opposed. Michael Nagle/Bloomberg/Getty Images“This decision created both operational and financial issues for [Red Lobster]… saddling the company with burdensome supply obligations” to Thai Union, Red Lobster said in the filing. “Certain operational decisions by former management have harmed [Red Lobster’s] financial situation in recent years,” Red Lobster said in its bankruptcy filing. Red Lobster stallsBut Red Lobster fell behind its sister brand Olive Garden under Darden.

Persons: Michael Nagle, ”, Alex Susskind, Susskind, General Mills, Bill Darden, Charley Woodsby, Darden, ” Woodsby, Jonathan Maze, Betty Crocker, Red, Mills, Cyrus McCrimmon, ” Joe Lee, Olive, Red Lobster’s, “ Darden, ” Les Foreman, Anthony Behar, SIPPL, AP Darden, they’ve, John Gordon, “, Patrick T, Fallon, Thiraphong Chansiri, ” “, ” Chansiri Organizations: New, New York CNN, Union became Red, Thai Union, Red Lobster, Bloomberg, Getty, Cornell University, CNN, Baby Boomers, General, Howard, Restaurant Business, Darden, Lobster, Denver Post, Harvard Business School, Longhorn, AP, Gate, ‘, Thai, Getty Images Thai Union, ” Thai Locations: New York, Thai Union, Bangkok, Thai, underinvestment, Lakeland , Florida, Orlando, America, Olive, Square , New York, Sale, Torrance , California, AFP

☆ Diners share why they love bankrupt Red Lobster
▼ + stars: | 2024-05-20 | by ( Aaron Fisher | ) edition.cnn.com time to read: 1 min

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