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☆ Glen Powell's parents have always been this extra
▼ + stars: | 2024-05-18 | by ( Caralynn Matassa | ) www.businessinsider.com time to read: +6 min

AdvertisementCut to: His parents, Cyndy and Glen Sr., crashing the red carpet and trolling him with big cardboard signs. "STOP TRYING TO MAKE GLEN POWELL HAPPEN," his mom's sign reads, while his dad holds one reading, "IT'S NEVER GONNA HAPPEN" to her left. Advertisement"I don't read tweets but my parents read tweets — so if you're talking sh-t, know that my parents are reading those tweets," he joked. "Even though they troll me, they support me in every way," Powell told ET. I have a huge, rowdy, Texas crew who gets me in all the right kinds of trouble," Powell told Nylon in a 2014 interview.

Persons: —, Glen Powell, Powell, Richard Linklater's, Glen, POWELL, IT'S, Nicola Gell, he's, who've, Chad Radwell, Ryan Murphy, goofiness, Cyndy, Lauren Powell Whatton, Leslie, She's, Glen Sr, Powell's, aren't, — they're, Jimmy Fallon, Jack, Bobby, Marge, Linklater, Will Ferrell's, Buddy, it's Powell, Richard Linklater, Michael Loccisano, Lauren, Witt, Gwen, Sydney Sweeney, Nylon, I'm Organizations: Service, Netflix, Business, Paramount Theatre, Texas Film Hall of Fame, Hollywood, Getty, Entertainment, New York City, SAG, New York Film, Taronga Locations: Austin, Los Angeles, New York, Australia, Texas

☆ Stephen Mandel’s Lone Pine Capital reveals new stakes in AI-related power producers
▼ + stars: | 2024-05-17 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Lone Pine Capital made new bets on some high-performing power producers and one big streaming company in the first quarter, a new Securities and Exchange Commission filing shows. Lone Pine, founded by Stephen Mandel in 1997, added a $446.7 million position in Vistra Corp. and a $161.9 million stake in Constellation Energy in the first quarter. Lone Pine also added new positions in drug and medical supplies distributor McKesson and mobile tech company AppLovin , worth about $368 million and $300 million, respectively. The new additions came as Lone Pine significantly cut its holdings in three big tech companies: Meta Platforms, Taiwan Semiconductor and Amazon . Microsoft is Lone Pine's third-largest position, trailing Taiwan Semiconductor, which Lone Pine reduced by 11%.

Persons: Lone Pine, Stephen Mandel, Mandel, Mark Zuckerberg, Philip Morris, Julian Robertson Organizations: Lone Pine Capital, Securities and Exchange Commission, Vistra Corp, Constellation Energy, Constellation, Taiwan Semiconductor, Microsoft, Meta, Philip Morris International, UnitedHealth Group, GE Aerospace, GE, Cubs Locations: Lone, Vistra, U.S, Greenwich , Connecticut, Meta

☆ One of Y Combinator's newest AI startups landed $2.8 million in seed funding using this 5-slide pitch deck. We got an exclusive look.
▼ + stars: | 2024-05-15 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +1 min

Apriora's tech uses conversational AI to conduct job interviews. The startup, which just graduated from Y Combinator, raised a $2.8 million seed round. We got an exclusive look at the presentation Apriora used to raise its seed funding. AdvertisementJob seekers are already using ChatGPT to prepare for job interviews, and one startup is working to even the playing field by bringing AI tools to hiring managers. Apriora, a startup that uses conversational AI to conduct job interviews, just announced its $2.8 million seed funding round led by 1984 Ventures.

Persons: Y, —, Dan Gross Organizations: Service, 1984 Ventures, Pioneer Fund, Business Locations: HOF Capital

☆ Sony-backed computing startup heads for rare IPO in sidelined London stock market
▼ + stars: | 2024-05-15 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

British computing startup Raspberry Pi on Wednesday said it plans to list in London, in a rare win for the U.K. stock market. Raspberry Pi, which makes tiny single-board computers, is considering an initial public offering on the main market of the London Stock Exchange. The IPO is a win for the London stock market, which has been struggling to attract high-growth tech companies. A slew of major U.K. tech firms have chosen New York over London for their listings over the last year. Upton established Raspberry Pi in 2012 to make computing more accessible to young people, gaining traction among hobbyists and teachers in the early days.

Persons: Ocado, Eben Upton . Raspberry Pi, Upton, Raspberry Organizations: London Stock Exchange, Nasdaq, Sunday Telegraph, Sky News, Raspberry Pi Foundation, Sony, amortization Locations: London, New York, British

☆ 24 of the most daring outfits celebrities have ever worn to the Cannes Film Festival
▼ + stars: | 2024-05-14 | by ( Amanda Krause | ) www.businessinsider.com time to read: 1 min

Bianca Jagger helped pioneer the "naked" trend at Cannes almost a decade later. Helmut Berger and Bianca Jagger at the Cannes Film Festival in 1975. Gilbert TOURTE/Getty ImagesThe Nicaraguan actor and human rights advocate wore a long-sleeved dress with a sheer bodice at the 1975 event. The latter piece was covered with a strategically placed leaf print, and its black skirt had a short slit. Jagger completed the look with black sandals and a matching beret.

Persons: Bianca Jagger, Helmut Berger, Gilbert TOURTE, Jagger Organizations: Cannes Film Locations: Cannes, Nicaraguan

☆ 24. Carbon Robotics
▼ + stars: | 2024-05-14 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +4 min

In a sign of how the ties between the deepest players in the field of artificial intelligence and other sectors of the economy are growing, Nvidia just announced a venture investment in Carbon Robotics in May. Carbon Robotics is a pioneer in AI-powered agricultural robotics designed to help farmers cut costs, boost production and improve crop yield. In 2023, Carbon Robotics opened two new facilities: Carbon Robotics North and its Richland, Washington-based laser refurbishing and manufacturing facility, allowing the company to increase production rates — it says demand tripled year over year in 2023. Carbon Robotics has also added seven European languages to the LaserWeeder's iPad operator app. To continue its growth, Carbon Robotics raised $43 million in new capital in 2023, just over half of the $80 million it has raised since its founding.

Persons: it's, Paul Mikesell Organizations: Monsanto, Syngenta, BASF, Nvidia, Carbon Robotics, NBC, Deere, Robotics, AndNowUKnow, Stout Industrial Technology, Bear Flag Robotics, Technology Locations: Richland , Washington, Europe, Australia

☆ Red Lobster is abruptly closing dozens of restaurants
▼ + stars: | 2024-05-13 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +1 min

New York CNN —Struggling Red Lobster is abruptly closing at least 48 of its restaurants around the country, according to a leading restaurant liquidator. TAGeX Brands is conducting an online auction of Red Lobster kitchen equipment, furniture and other contents at restaurants closing. Red Lobster locations in Buffalo, Orlando, Jacksonville and other cities were listed as “temporarily closed” on Red Lobster’s website, according to local news reports. In 2020, Thai Union, a longtime supplier to Red Lobster, took an undisclosed financial stake in the chain, becoming a key shareholder. Thai Union said earlier this year it would divest from Red Lobster and take a $530 million loss on its investment.

Persons: Neal Sherman, “ Organizations: New, New York CNN —, TAGeX Brands, Thai Union Locations: New York, Buffalo, Orlando, Jacksonville, Thai Union

☆ How to generate some return on Costco after a nice rally, without having to sell the stake
▼ + stars: | 2024-05-13 | by ( Michael Khouw | ) www.cnbc.com time to read: +8 min

How I think about Jim Simons' legacy, and a trade on one of the most successful retailers, Costco, follows. First, a contrarian view in Costco: Costco (COST) is one of the best performing retailers over the past year. Last week, Costco released their four-week retail sales results for the period between Monday, April 8th and Sunday, May 5th. There is only one thing I don't like about Costco, the price. The weak form suggests past market prices, which are generally observable, are fully reflected in stock prices.

Persons: Jim Simons, that's, Jim, James Surowiecki, Francis Galton, Eugene Fama Organizations: Costco, Fund Locations: Costco, U.S, New York, Surowiecki

☆ What the results of Wegovy’s longest clinical trial yet show about weight loss, side effects and heart protection
▼ + stars: | 2024-05-13 | by ( Meg Tirrell | ) edition.cnn.com time to read: +10 min

CNN —New analyses of the longest clinical trial yet of the weight-loss drug Wegovy are shedding light on how quickly it helps people lose weight, how long they sustain that weight loss and how safe the medicine is over four years of use. A previous clinical trial showed even greater average weight loss for Wegovy: about 15% on average over 68 weeks, compared with 2.4% for people who got a placebo. It was sustained for up to four yearsThe results showed that the 10% average weight loss for people using Wegovy was sustained for up to 208 weeks, or four years. Patients stayed on the medicine while they sustained the weight loss. Almost 23% of people on Wegovy lost at least 15% of their body weight, compared with 1.7% on a placebo.

Persons: Wegovy, –, ”, Harlan Krumholz, Dr, Donna Ryan, Eli Lilly, wasn’t, they’d, Daniel Drucker, it’s, John Deanfield, Krumholz, Drucker, GLP, Sanjay Gupta Organizations: CNN, Yale University, Yale New Haven Hospital, drugmaker, Nordisk, Novo Nordisk, European, Obesity, Nature, Pennington Biomedical Research, University of Toronto, University College London, CNN Health Locations: Baton Rouge , Louisiana, Novo

CNN —A 62-year-old man has died months after becoming the world’s first living recipient of a genetically edited pig kidney transplant, hailed as a medical milestone. Rick Slayman received the kidney at Massachusetts General in March after he had been diagnosed with end-stage kidney disease last year. “Our family is deeply saddened about the sudden passing of our beloved Rick but take great comfort knowing he inspired so many,” a family statement said. Before Slayman’s transplant, just two transplants using pig organs had been completed – both heart transplants performed under compassionate use. EGenesis, the biotech company providing the genetically edited pig kidney, called Slayman “a true pioneer” in a statement late Saturday night.

Persons: Rick Slayman, Mr, Slayman, Slayman’s, ”, “, Rick, –, ” Slayman, Tatsuo Kawai Organizations: CNN, Massachusetts General, Massachusetts Department of Transportation, Legorreta, Procurement, Transplantation Network, Massachusetts Locations: Massachusetts, ” Massachusetts

☆ Mary Wells Lawrence, High-Profile Advertising Pioneer, Dies at 95
▼ + stars: | 2024-05-11 | by ( Robert D. Mcfadden | ) www.nytimes.com time to read: +1 min

She put the “plop plop, fizz fizz” into Alka-Seltzer. She warned Benson & Hedges smokers that long cigarettes might pop balloons or set fire to beards. And from Niagara Falls to Broadway, she reached millions with her “I ♥ NY” campaign. Ms. Wells Lawrence was the first woman to own and run a major national advertising agency — Wells Rich Greene — and the first female chief executive of a company listed on the New York Stock Exchange. She was “arguably the most powerful and successful woman ever to work in advertising,” Stuart Elliott, who was then the advertising columnist of The New York Times, wrote in 2002 of Ms. Wells Lawrence, who sold her agency for $160 million (about $385 million today) and retired in 1990.

Persons: Seltzer, Benson, Mary Wells Lawrence, Katy Bryan, Ms, Wells Lawrence, Wells Rich Greene —, ” Stuart Elliott Organizations: Braniff, Alka, Hedges, New York Stock Exchange, The New York Times Locations: Niagara Falls, Broadway, Ohio, New York, London

☆ Jim Simons, billionaire hedge fund founder, dies at 86
▼ + stars: | 2024-05-10 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —Jim Simons, the billionaire investor, mathematician and philanthropist, died on Friday in New York City, according to his foundation, the Simons Foundation. According to his foundation, Simons was fired from the institute in 1968 due to his opposition to the Vietnam War. Simons then joined the faculty at Stony Brook University as the head of the school’s mathematics department. Last year, Simons’ foundation donated $500 million to Stony Brook’s endowment, the largest unrestricted gift to an American university in history, according to the Simons Foundation. “I joined Stony Brook University in 1968 as chair of their Department of Mathematics,” Simons said at the time.

Persons: Jim Simons, Simons, ” Simons, “, ” Organizations: CNN, Simons, Technologies, Massachusetts Institute of Technology, University of California, MIT, Harvard University, Institute for Defense, National Security Agency, Stony Brook University, Renaissance Technologies, Simons Foundation, of Mathematics Locations: New York City, Newton , Massachusetts, Berkeley, Princeton , New Jersey, Vietnam, American

☆ Jim Simons, billionaire quantitative investing pioneer who generated eye-popping returns, dies at 86
▼ + stars: | 2024-05-10 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Jim Simons, a mathematician who founded the most successful quantitative hedge fund of all time, passed away on Friday in New York City, his foundation announced on its website. Pioneering mathematical models and algorithms to make investment decisions, Simons left behind an otherworldly track record at Renaissance Technologies, that bested legends such as Warren Buffett and George Soros. Its flagship Medallion Fund enjoyed annual returns of 66% during a period starting in 2018, according to Gregory Zuckerman's book "The Man Who Solved the Market." Simons received a bachelor's degree in mathematics from MIT in 1958, and he earned his PhD in mathematics from University of California, Berkeley at the age of only 23. He was active in the work of the Simons Foundation until the end of his life.

Persons: Jim Simons, Simons, Warren Buffett, George Soros, Gregory Zuckerman's Organizations: Renaissance Technologies, flagship Medallion Fund, U.S, Intelligence, Soviet Union, MIT, University of California, Stony Brook University, Simons Foundation Locations: New York City, Vietnam, Soviet, Berkeley, Stony, New York

☆ Hattan Alsaif: ‘When I fight, I can feel my soul alive,’ says Saudi Arabia’s groundbreaking MMA star
▼ + stars: | 2024-05-10 | by ( George Ramsay | ) edition.cnn.com time to read: +6 min

Alsaif is acutely aware of her status as a trailblazer for female MMA fighters in Saudi Arabia and takes such a responsibility seriously. I feel I’m alive when I train, when I fight, in the gym – I can feel my soul alive. “When I breathe after the rounds, when I feel sick, when I feel tired, when I feel courage, when I feel scared, those moments, every part of that, it makes me feel alive. It’s something that means a lot to me.”Alsaif (right) competed in Muay Thai prior to MMA. Sadaa, coach of Saudi Arabia’s Muay Thai national team, has been central to Alsaif’s success, though his influence extends far beyond a sporting sphere.

Persons: Hattan, Saudi Arabia –, – Alsaif, “, ” Alsaif, I’m, “ It’s, Egypt’s Nada Faheem, Alsaif, ”, it’s, Abdullah Al, Feras Sadaa, Sadaa, Claressa Shields, Kelsey De Santis, ’ ” Organizations: CNN, CNN Sport, Professional Fighters League, wasn’t, Professional, League, Thailand –, Combat Games, Saudi Games, International Federation of Muaythai, Muay Thai, Al, SRJ Sports Investments Company, Saudi Arabia’s Public Investment Fund Locations: Riyadh, Saudi Arabia, Saudi, Thai, Thailand, East, North Africa, MENA

☆ The rise and fall of Red Lobster, whose bottomless shrimp may be leading to bankruptcy
▼ + stars: | 2024-05-10 | by ( Erin Mcdowell | ) www.businessinsider.com time to read: +1 min

Red Lobster is reportedly considering filing for bankruptcy. Despite its current status, Red Lobster was once a pioneer in the casual-dining industry. However, Red Lobster wasn't always on the hook. Here's the rise and fall of Red Lobster through the years. Red Lobster did not respond to a request for comment for this story.

Persons: — Organizations: Service, Biscuits

☆ How $65 billion Marshall Wace is turning into the hedge funds it's criticized
▼ + stars: | 2024-05-09 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +5 min

There's a split internally at $65 billion Marshall Wace. The 27-year-old London-based hedge fund, founded by Paul Marshall and Ian Wace, has prided itself on its collaborative culture. Multi-strategy mightThe culture shift at Marshall Wace is just the latest ripple effect to come from the vast expansion of power, assets, and clout of the largest multi-strategy hedge funds. For Marshall Wace, that looks like a charge that can be up to 0.75% of the $22.4 billion Eureka fund's value — more than $150 million — on top of the set management fees and variable performance fees the firm already charges. A person close to the firm said that certain people still have access to aggregated positions, but the restriction helps Marshall Wace manage "complexity and confidentiality" as the manager continues to grow.

Persons: Marshall Wace, Paul Marshall, Ian Wace, Marshall, George Soros, It's, Marshall Wace's, You've, Dan Schatz, Ruchit, Jaime Brandwood, Derek Rosenthal, Marshall's Organizations: Business, BNP, Eureka, Citadel, Ruchit Puri Locations: London, Citadel, New York, Singapore, Shanghai, Hong Kong, Eureka

☆ OpenAI is reportedly trying to poach Googlers for an AI-powered search team
▼ + stars: | 2024-05-08 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Sam Altman's company is trying to poach Googlers for a ChatGPT search engine, per the report. The Verge reported that the company behind ChatGPT has been trying to poach Googlers to work on its team developing a search engine for the chatbot. In February, The Information reported that OpenAI was developing a web search feature that could put the company into more direct competition with Google Search. AdvertisementGoogle's future plans in the AI field include large investments and a generative AI search engine. Big Tech is engaged in an intense battle for top AI talent as rival companies rush to launch similar AI-powered products.

Persons: Sam Altman's, —, OpenAI, ChatGPT, Googlers, Bing, Mark Zuckerberg Organizations: Big Tech, Service, Google, Bloomberg, Business

☆ These ETFs promise investors downside protection — at a cost
▼ + stars: | 2024-05-08 | by ( Michelle Fox | ) www.cnbc.com time to read: +7 min

Investors looking for protection against market downside are turning toward buffer exchange-traded funds, also known as defined-outcome ETFs. Buffer ETFs have exploded in popularity in recent years, although they are still a small slice over the overall industry. How buffer ETFs work Managers use a set of equity options when building a fund. Recently, Calamos announced a new product line of 12 ETFs that offers 100% downside protection. The first in the line, Calamos S & P 500 Structured Alt Protection ETF (CPSM) , began trading May 1.

Persons: Lan Anh Tran, Morningstar, Tran, Todd Sohn, Strategas, Sohn, Calamos, Russell, Matt Kaufman, Kaufman, Morningstar's Tran, HELO 1Y, It's Organizations: Morningstar, Strategas Securities, Capital Management, Equity, PGIM, Allianz, BlackRock, Treasury, Trust, JPMorgan Hedged Equity, JPMorgan Locations: BlackRock

☆ Barbara Stauffacher Solomon, Pioneer of Supergraphics, Dies at 95
▼ + stars: | 2024-05-08 | by ( Penelope Green | ) www.nytimes.com time to read: +1 min

Barbara Stauffacher Solomon, an audacious graphic designer, landscape architect and artist who first made a splash in the 1960s with the supersize, geometric architectural painting movement known as supergraphics, died on Tuesday at her home in San Francisco. Her daughter Nellie King Solomon confirmed the death. In 1962, Ms. Stauffacher Solomon was the rare woman to set up shop as a graphic designer in the Bay Area, working for clients like the San Francisco Museum of Modern Art (now SFMOMA). It was architecture, however, that put Ms. Stauffacher Solomon on the national stage. In the early 1960s, an architect turned developer named Al Boeke envisioned a new community on a windswept bluff and former sheep ranch a few hours north of San Francisco.

Persons: Barbara Stauffacher Solomon, Nellie King Solomon, Stauffacher Solomon, Baskerville, Al Boeke, Lawrence Halprin, Joseph Esherick, Charles Moore, Donlyn Lyndon, William Turnbull Jr, Richard Whitaker Organizations: San Francisco Museum of Modern Art, Times Locations: San Francisco, Bay, Basel, Switzerland, Swiss

☆ ‘Ozempic babies’: What the science says on whether GLP-1s lead to surprise pregnancies, and their safety if they do
▼ + stars: | 2024-05-08 | by ( Mira Cheng | Meg Tirrell | ) edition.cnn.com time to read: +12 min

“I was depressed, severely depressed for that whole time.”Five months earlier, in October 2022, Bentley had started taking Mounjaro for weight loss. Ozempic uses the active ingredient semaglutide, and Wegovy is the version approved for weight loss. Mounjaro uses tirzepatide, which also targets a second hormone called GIP, and Zepbound is its brand name for weight loss. Safety in pregnancyEven as GLP-1 medicines may increase fertility, little is known about their safety during pregnancy. “It’s kind of like heart failure or sleep apnea,” he said, referring to conditions for which GLP-1 drugs have recently shown positive results.

Persons: CNN — Catera Bentley, Bentley, ”, “, ” Bentley, she’d, —, ‘, ’ Bentley, Jody Dushay, Dushay, Catera Bentley, Ivy, Daniel Drucker, ” Drucker, they’re, Drucker, Eli Lilly, ” Dushay, haven’t, That’s, Anuja Dokras, Dokras, Melanie Cree, Cree, PCOS, aren’t, Eli Lilly’s, Daniel Skovronsky, ” Skovronsky, Dr, Sanjay Gupta, it’s, Mounjaro Organizations: CNN, Beth Israel Deaconess Medical Center, Harvard Medical School, University of, Mount Sinai, Novo Nordisk, Zepbound, US Centers for Disease Control, University of Pennsylvania, PCOS, Children’s Hospital, National Institutes of Health, CNN Health Locations: Steele , Alabama, Mount, United States, Children’s Hospital Colorado, —, Colorado

☆ Morgan Stanley says this flying car stock can surge nearly 60%
▼ + stars: | 2024-05-06 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Morgan Stanley says EHang , a maker of flying cars, is poised to be a leading player as eVTOL , or electric vertical take-off and landing vehicles, become more commercial. The Wall Street investment bank began research coverage of the EHang stock with an overweight rating and a $27.50 per share price target, implying more than 58% upside from Friday's $17.38 close. EHang stock has risen roughly 3.4% in 2024 through Friday, and is up almost another 6% in early trading Monday. EH YTD mountain EHang stock. "This represents a substantial emerging market, and EHang (EH), as a market bellwether with first-mover advantage, is poised to capture significant growth potential, in our view," the analyst said.

Persons: Morgan Stanley, EHang, Cindy Huang, Huang, — CNBC's Michael Bloom Organizations: Civil Aviation Administration, China Locations: China

☆ Exxon Mobil CEO Darren Woods on getting to net zero by 2030 and Pioneer deal
▼ + stars: | 2024-05-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExxon Mobil CEO Darren Woods on getting to net zero by 2030 and Pioneer dealExxon Mobil CEO Darren Woods joins 'Squawk on the Street' to discuss the oil industry, the Pioneer deal, and low carbon business.

Persons: Darren Woods Organizations: Exxon Mobil

☆ Restaurants are competing for frugal diners’ dollars
▼ + stars: | 2024-05-03 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

For some restaurants, it feels like a battle to get them to spend. Olive Garden-parent Darden Restaurants saw same-restaurant sales dip during its most recent quarter. Darden saw sales from households with incomes above $150,000 climb from the prior year. What to expect in Friday’s jobs reportThe US job market has been on a roll for the past three years. That’s about 25,000 more jobs per month than last year and 111,000 more per month than in 2019.

Persons: ”, Laxman Narasimhan, “, we’ve, Ian Borden, Ricardo Cardenas, Scott Sheffield, “ Mr, —, Matt Egan, Read, Alicia Wallace, ” Julia Pollak, ZipRecruiter Organizations: CNN Business, Bell, New York CNN, Starbucks, Darden, OPEC, Federal Trade Commission, Sheffield, Organization of, Petroleum, Saudi Arabia, Regulators, Pioneer Natural Resources, CNN, of Labor Statistics Locations: New York, China, Olive, American, Saudi, Sheffield, Texas, OPEC, Russia

☆ Red Lobster brought seafood to the masses. Now it’s on the verge of bankruptcy
▼ + stars: | 2024-05-03 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +11 min

While it was a delicious deal for customers, it was terrible for the company: Red Lobster lost $3.3 million in seven weeks. The deal was once again too popular, and Red Lobster was unprepared for its customers’ insatiable lust for discounted shellfish. Red Lobster is now reportedly considering filing for bankruptcy protection to restructure its debt and shed some of its 650 US locations. Red Lobster stallsBut Red Lobster fell behind its sister brand Olive Garden under Darden. In 2021 and 2022, Red Lobster brought on a new CEO, chief marketing officer, chief financial officer and chief information officer.

Persons: Lobster, “, ”, John Gordon, Michael Nagle, Alex Susskind, General Mills, Bill Darden, Charley Woodsby, Darden, ” Woodsby, Jonathan Maze, Betty Crocker, Red, Glen Martin, Mills, ” Joe Lee, Olive, Red Lobster’s, “ Darden, ” Les Foreman, Justin Sullivan, they’ve, Les Foreman, Thiraphong Chansiri, ” “, ” Chansiri Organizations: New, New York CNN, Lobster, Thai Union, Bloomberg, Getty, Red Lobster, CNN, Cornell University, Baby Boomers, General, Howard, Restaurant Business, Darden, Denver Post, Harvard Business School, Longhorn, Darden Restaurants, Gate, ‘, Thai, “, ” Thai Locations: New York, United States, Bangkok, Thai, underinvestment, Lakeland , Florida, Orlando, America, Olive, Sale, Thai Union, Thailand

ImageHERE’S WHAT’S HAPPENINGExxon Mobil strikes an agreement to win regulatory approval of its $60 billion megadeal. Elsewhere, shares in Shell were up after the producer reported $7.7 billion in adjusted quarterly earnings, beating analyst expectations. The U.S. imposes sanctions on Chinese companies over military support for Russia’s war effort. The Biden administration announced on Wednesday nearly 300 sanctions, including on more than a dozen Chinese businesses, aimed at disrupting Moscow’s full-scale invasion of Ukraine. The culprit: pressure on prices, amid growing competition from Eli Lilly’s Zepbound, supply constraints and scrutiny from lawmakers.

Persons: Scott Sheffield, Biden, Janet Yellen, Antony Blinken, Eli Lilly’s Zepbound, James Comer, Comer Organizations: Labor Department, Exxon Mobil, Natural Resources, Wall Street, Novo Nordisk, Republican, European Commission Locations: Shell, U.S, Ukraine, Danish, Kentucky, iRobot

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