Private equity firms are considering buying Peloton amid the CEO's departure and cost-cutting efforts. Restructuring aims to reduce expenses, and debt refinancing is in progress.
Deals
Red Lobster Abruptly Closes at Least 48 Restaurants in US Amid Bankruptcy Reports
Red Lobster is unexpectedly shutting 48 US locations, liquidating its assets via an online auction. A sign is posted in front of a Red Lobster restaurant on May 16, 2014 in San Bruno, California.
Anthropic Expands Claude AI Chatbot to Europe, Launches Fundraiser
Anthropic will expand its generative AI assistant Claude to Europe while continuing to get funding from the continent.
Chuck Schumer Calls on FTC to Halt Chevron-Hess $53 Billion Merger
Chuck Schumer's call to action is based on his concern that such mergers could grant oil giants excessive influence over gas prices, leading to potential price increases that would impact consumers.
Enerplus Misses Q1 2024 Profit Targets While Processing Acquisition by Chord
Canadian oil and energy company Enerplus reported an 18.6% revenue loss for its Q1 2024 report compared to figures at the same period last year.
Latest News
The European Union (EU) has approved Japan's Nippon Steel's acquisition of US Steel for $14.9 billion despite facing opposition in the United States.
Steve Wozniak’s space date company Privateer has acquired Orbital Insight for an undisclosed amount.
Hong Kong Investors Win $2.5 Million Case Against Company That Promised to Repurchase Luxury Watches
WatchFund, led by Dominic Khoo, has been ordered by a Hong Kong court to repurchase luxury watches worth $2.5 million following breaches of contract with five investors.
Save big on Apple AirPods 2 and 3 at Amazon, with discounts up to $49. AirPods 2 are now $79.99 (38% off), and AirPods 3 are $139.99 (17% off). This is a limited-time offer!
Foxconn reports its highest-ever April revenue surge, with a nearly one-fifth increase compared to last year, driven partly by strong iPhone demand and diversification efforts.
Rue21 has announced that it will be shutting down all of its 540 locations in the coming weeks. Popular teens clothing retailer Rue21 is shutting all 540 of its locations in the the coming weeks as it declares bankruptcy after almost 50 years in operation.
Boeing locked out 125 unionized firefighters and emergency responders in Washington state this weekend in a dispute over a new four-year contract.
Paramount's board committee on Saturday met and approved talks with Sony and Apollo, who submitted a nonbinding letter of interest.
Paramount reportedly pulling out from the proposed merger with Skydance. Now, other entertainment companies are expected to take advantage if it doesn't push through.
