Business

TGI Fridays’ footprint in the U.S. has been significantly diminished. The chain’s website listed 85 restaurants across the country, less than a third of the number that operated in the U.S. at the start of 2024, when there were some 270, CNN reported Tuesday. In November, as TGI Fridays Inc. entered Chapter 11 bankruptcy proceedings, over 160 were scattered across America, according to the outlet. There have been closures and sales of TGI […]

President Donald Trump, after days of trolling Federal Reserve Chairman Jerome Powell for missing the window to cut interest rates and signaling he may lose his job, clarified his plan for the head of the U.S. central bank on Tuesday. "I have no intention of firing him," he told reporters at the White House.His remarks gave the U.S. stock market – which had seen steep downswings on the potential removal of […]

AT&T beat Wall Street estimates for wireless subscriber additions in the first quarter on Wednesday, driven by steady demand for its plans that bundled high-speed fiber services and 5G mobile offerings.The U.S. wireless carrier's focus on bundling to fend off intense competition in a saturating market and aggressive trade-in offers helped it gain 324,000 net monthly bill-paying wireless phone subscribers.That compared with FactSet estimates of 258,300 additions for the quarter.After […]

Tesla reported a revenue loss from its electric vehicles fall year over year in the first quarter.The electric vehicle maker, run by CEO Elon Musk, generated $13.97 billion in automotive revenue in the first three months of 2025, marking a drop of nearly 20% from the same quarter last year, according to its earnings release. During the earnings call, Elon Musk said his "time allocation to DOGE will drop significantly." DOGE, […]

American workers are lowering their expectations of the pay rate they want to take a new job, according to research by the Federal Reserve Bank of New York.The New York Fed's Survey of Consumer Expectations found that the so-called reservation wage for a new job declined to $74,236 in March from $82,135 in November, which was the highest level in the data series. The report found that the lowered wage expectations […]

Los Angeles has seen a decline in local film and TV production, causing some to worry the city could face the same fate as Detroit did with the auto industry several decades ago. "As the auto industry left Detroit, it really hollowed out that city, and now there’s some concern that the same thing could be happening here in Los Angeles and in Hollywood as movie productions move out of town," FOX […]

White House press secretary Karoline Leavitt said the Trump administration now has "18 proposals on paper" for trade deals following the implementation of its latest tariffs. "I spoke to our entire trade team this morning. There is a lot of progress being made. We now have 18 proposals on paper that have been brought to the trade team. Again, these are proposals on paper that countries have proposed to the Trump […]

Halliburton on Tuesday warned of a second-quarter earnings impact from tariffs and lower oilfield activity in North America as producers evaluate drilling and completions at weak oil prices, sending shares of the oilfield service producer down about 6%.Halliburton is the first of the Big Three U.S. oilfield services providers and among the first large oil company to report earnings as U.S. crude prices hover under $64 a barrel. Many companies […]

U.S. industrial conglomerate 3M Co. on Tuesday beat Wall Street expectations for first-quarter profit on cost cutting, sending its shares up 7% even as it warned of a potential hit to 2025 earnings from trade tensions.Bill Brown, who succeeded Mike Roman as CEO in May, laid out a restructuring plan in July focused on reining in spending and redirecting funds from mitigating legal liabilities.In February, 3M said it was targeting […]