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		<title>Macy’s stores set to close in California</title>
		<link>https://www.ourstoryinsight.com/macys-stores-set-to-close-in-california/</link>
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		<pubDate>Wed, 15 Apr 2026 01:39:23 +0000</pubDate>
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		<guid isPermaLink="false">https://www.ourstoryinsight.com/?p=14627</guid>

					<description><![CDATA[<p>Department store chain Macy’s is set to shutter 14 store locations around the country, two of which are in California. The chain — which was founded in 1858 — is coming off a 2025 where they shuttered 66 stores, including one in Los Angeles. The company announced in 2024 that they would close 150 underperforming [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.ourstoryinsight.com/macys-stores-set-to-close-in-california/">Macy’s stores set to close in California</a> appeared first on <a rel="nofollow" href="https://www.ourstoryinsight.com">Our Story Insight</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>Department store chain Macy’s is set to shutter 14 store locations around the country, two of which are in California.</p>
<p>The chain — which was founded in 1858 — is coming off a 2025 where they shuttered 66 stores, including one in Los Angeles.</p>
<p>The company announced in 2024 that they would close 150 underperforming stores by the end of 2026, coming off the heels of Tony Spring being named the company’s new CEO.</p>
<p>Department store chain Macy’s is set to shutter 14 store locations around the country, two of which are in California. <span class="credit">Getty Images</span></p>
<p>The company announced in 2024 that they would close 150 underperforming stores by the end of 2026, coming off the heels of Tony Spring being named the company’s new CEO. <span class="credit">Getty Images</span></p>
<p>Two of the 14 stores to be closed are in California – one in La Mesa at the Grossmont Center and another in Tracy at the West Valley Mall, according to the Desert Sun.</p>
<p>One of the stores at the Pittsburgh Mills Mall in Tarentum, Penn. will close on April 26, according to TribLive and WTAE.</p>
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<p>The other stores listed below are set to close sometime in the first half of this year, though no specific closing dates have not been confirmed.</p>
<ul class="wp-block-list">
<li>4880 Briarcliff Road NE, Atlanta, Georgia</li>
<li>7900 Ritchie Hwy., Glen Burnie, Maryland</li>
<li>3850 Rivertown Parkway SW, Michigan</li>
<li>4101 W Division St., Saint Cloud, Minnesota</li>
<li>50 Fox Run Rd., Newington, New Hampshire</li>
<li>112 Eisenhower Parkway, Livingston, New Jersey</li>
<li>225 Interstate Shopping Center, Ramsey, New Jersey</li>
<li>1255 Niagara Falls Blvd., Amherst, New York</li>
<li>3801 Sumner Blvd., Raleigh, North Carolina</li>
<li>5488 South Padre Island Dr., Corpus Christi, Texas</li>
<li>17855 Southcenter Parkway, Tukwila, Washington</li>
</ul>
<p>It’s unclear when the company plans to announce the final wave of store closures before the end of this calendar year.</p>
<p>The company revealed that the closures would be announced on a rolling basis, as they continue to evaluate regional store performances.</p>
<p>The closures will help the company cut costs and also focus on high-performing stores along with luxury brands and digital shopping experiences for their customers.</p>
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<p>The post <a rel="nofollow" href="https://www.ourstoryinsight.com/macys-stores-set-to-close-in-california/">Macy’s stores set to close in California</a> appeared first on <a rel="nofollow" href="https://www.ourstoryinsight.com">Our Story Insight</a>.</p>
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		<title>GambleAware UK charity to close following government legislation</title>
		<link>https://www.ourstoryinsight.com/gambleaware-uk-charity-to-close-following-government-legislation/</link>
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		<pubDate>Sat, 02 Aug 2025 14:23:30 +0000</pubDate>
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		<guid isPermaLink="false">https://www.ourstoryinsight.com/?p=8565</guid>

					<description><![CDATA[<p>GambleAware is set to shut down in a phased closure following the introduction of new gambling legislation in the United Kingdom. The charity has been in operation since 2002, working to raise awareness of gambling-related harm and to provide essential support to those in need.  The organization confirmed the end of its tenure in an [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.ourstoryinsight.com/gambleaware-uk-charity-to-close-following-government-legislation/">GambleAware UK charity to close following government legislation</a> appeared first on <a rel="nofollow" href="https://www.ourstoryinsight.com">Our Story Insight</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><span style="font-weight: 400">GambleAware is set to shut down in a phased closure following the introduction of new gambling legislation in the United Kingdom.</span></p>
<p><span style="font-weight: 400">The charity has been in operation since 2002, working to raise awareness of gambling-related harm and to provide essential support to those in need. </span></p>
<p><span style="font-weight: 400">The organization confirmed the end of its tenure in an official statement, which will see it succeeded by the appointment of three new commissioners, as well as the introduction of a new statutory levy to fund their work. </span></p>
<p><span style="font-weight: 400">Commissioners will be tasked to carry out work and development on research into gambling harm, prevention, and treatment measures.</span></p>
<p>All of this comes after the long-awaited gambling reform policy was presented in May.</p>
<p><span style="font-weight: 400">In its statement, the body indicated “the work historically delivered by GambleAware will now transition to the UK government and new commissioners across England, Scotland and Wales”, with the charity’s closure expected by March next year.</span></p>
<p><span style="font-weight: 400">GambleAware had previously advocated for delivery on a statutory system to replace its work, so in that regard, its work is done.</span></p>
<p><span style="font-weight: 400">However, the organization has vowed to continue with the purpose to fulfill existing commitments until the new system is in place. </span></p>
<h2><span id="boucher_urges_government_to_ensure_learnings_are_carried_forward">Boucher urges government to ensure learnings are carried forward</span></h2>
<p><span style="font-weight: 400">GambleAware chairman Andy Boucher outlined the important work and achievements of the charity, culminating in the establishment of a statutory public health-led initiative to tackle gambling-related harm.</span></p>
<p><span style="font-weight: 400">“We welcome this new era in which gambling harms are recognised alongside other public health issues and are funded through a statutory levy, said Boucher.</span></p>
<p><span style="font-weight: 400">He continued, “As we enter the final phase of our commissioning work, we urge NHS England, the Office for Health Improvement and Disparities, UK Research and Innovation, and the appropriate bodies in Scotland and Wales to build upon the current system’s achievements and insights to ensure learnings are carried forward.”</span></p>
<p><span style="font-weight: 400">Gambling Minister Baroness Twycross also acknowledged the impact made by GambleAware and stressed the importance of their continued activity right up to the end of the transition period.</span></p>
<p>Image credit: GambleAware</p>
<p>The post <a rel="nofollow" href="https://www.ourstoryinsight.com/gambleaware-uk-charity-to-close-following-government-legislation/">GambleAware UK charity to close following government legislation</a> appeared first on <a rel="nofollow" href="https://www.ourstoryinsight.com">Our Story Insight</a>.</p>
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		<title>Skydance boss David Ellison tells Hollywood pals that Paramount merger will close before end of summer: sources</title>
		<link>https://www.ourstoryinsight.com/skydance-boss-david-ellison-tells-hollywood-pals-that-paramount-merger-will-close-before-end-of-summer-sources/</link>
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		<pubDate>Thu, 26 Jun 2025 03:51:09 +0000</pubDate>
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		<guid isPermaLink="false">https://www.ourstoryinsight.com/?p=7841</guid>

					<description><![CDATA[<p>Skydance Media boss David Ellison has been striking an upbeat tone in his quest to purchase Shari Redstone’s Paramount, On The Money has learned. The budding movie mogul’s quiet confidence to media insiders in recent days may seem a bit odd for regular readers of On The Money. We’ve been chronicling how the $8 billion [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.ourstoryinsight.com/skydance-boss-david-ellison-tells-hollywood-pals-that-paramount-merger-will-close-before-end-of-summer-sources/">Skydance boss David Ellison tells Hollywood pals that Paramount merger will close before end of summer: sources</a> appeared first on <a rel="nofollow" href="https://www.ourstoryinsight.com">Our Story Insight</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>Skydance Media boss David Ellison has been striking an upbeat tone in his quest to purchase Shari Redstone’s Paramount, On The Money has learned.</p>
<p>The budding movie mogul’s quiet confidence to media insiders in recent days may seem a bit odd for regular readers of On The Money. We’ve been chronicling how the $8 billion deal faces significant headwinds from the Trump administration’s regulatory apparatus, and the president’s own legal team.</p>
<p>Not according to Ellison, however. In fact, the son of billionaire Oracle founder Larry Ellison has been telling people in TV and movie circles out in Los Angeles that he believes the deal will go through before the end of summer – well before its drop-dead date in October when both sides need to walk away if the deal isn’t completed, according to two sources with direct knowledge of the matter.</p>
<p>David Ellison, the son of billionaire Oracle founder Larry Ellison, has been telling people in TV and movie circles out in Los Angeles that he believes the deal will go through before the end of summer. <span class="credit">AFP via Getty Images</span></p>
<p>It’s unclear exactly why Ellison – whose independent studio has produced hits like “Top Gun: Maverick” and the latest “Mission: Impossible” sequels – is so optimistic because much of the news surrounding the transaction has been anything but encouraging.</p>
<p>Trump’s regulators are stalling their mandatory approval as they investigate if Paramount’s CBS News subsidiary violated Federal Communications Commission guidelines that its content must be free of political bias; conservatives have complained about CBS’s left-wing bias for years – a charge the network has vehemently denied.</p>
<h2 class="inline-module__heading subsection-heading subsection-heading--single-line ">
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<p>Trump has also filed a $20 billion lawsuit against CBS in Texas federal court, charging the network’s “60 Minutes” with violating an obscure state business law in a case involving its controversial interview with Kamala Harris during the 2024 presidential election. Trump claims the sit-down with his Democratic opponent was deceptively edited. Paramount believes the deal’s regulatory approval is contingent on a settlement.</p>
<p>Yet, as On The Money previously reported, Redstone’s management team and board are worried about being on the hook for bribery charges if the payment is seen as a quid-pro-quo to get the deal done. That’s because their boss, Redstone, would receive a $2 billion payout once the merger is complete.</p>
<p>Trump’s regulators are stalling their mandatory approval as they investigate if Paramount’s CBS News subsidiary violated Federal Communications Commission guidelines that its content must be free of political bias. <span class="credit">Al Drago/UPI/Shutterstock</span></p>
<p>But maybe Ellison knows something we don’t know. Both sides in the lawsuit have recently held settlement discussions, On The Money has learned. They’ve discussed a payment of $35 million to end the lawsuit, a far cry from the $20 billion headline number and lower than the $50 million Team Trump originally sought.</p>
<p>As On The Money has reported, a potential settlement has been discussed where CBS runs millions of dollars in public service ads for causes of the president’s liking, such as combating antisemitism, as well as making a lower cash payment.</p>
<p>Sources say the mediator has warmed up to the idea of PSAs and a smaller monetary payment than what Trump has sought. But it’s unclear if Trump will agree to those terms.</p>
<p>Shari Redstone would receive a $2 billion payout once the merger is complete. <span class="credit">REUTERS</span></p>
<p>“President Trump is committed to holding those who traffic in fake news, hoaxes, and lies to account,” Trump lawyer Ed Paltzik told On The Money on Wednesday.</p>
<p>“CBS and Paramount targeted the president in an attempt to harm his reputation while committing the worst kind of election interference and fraud in the closing days of the most important presidential election in history. President Trump will pursue this vital matter to its just and rightful conclusion.”</p>
<p>A Paramount spokesman had no comment. A spokeswoman for David Ellison declined comment.</p>
<p>Trump recently praised the Oracle scion as someone who will be great running Paramount, and would change the culture at CBS, or as Trump put it (in his usual understated way): “They are all getting fired” when ownership changes.</p>
<p>Trump recently praised the Oracle scion as someone who will be great running Paramount, and would change the culture at CBS. <span class="credit">Christopher Sadowski</span></p>
<p>David Ellison’s dad, Larry Ellison is supplying the money (some of his $250 billion in net worth) for the Paramount merger, and as reported, he has an open line to the White House given his relationship with the president.</p>
<p>Media industry insiders say there could also be a scenario where the deal is approved before the lawsuit is settled. Ellison then could write Trump the check after he takes over at Paramount.</p>
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<p>Or maybe Paramount is ready to just bite the bullet and pay Trump close to what he wants. Legal experts say any bribery case would be a stretch in court. Trump has been wringing settlements out of other companies over similar squabbles, and Paramount could make the case that even paying Trump $50 million is less than the cost of litigation.</p>
<p>So, there might be good reasons for David Ellison’s optimism that he will bag both a major movie studio and the Tiffany Network.</p>
<p>The post <a rel="nofollow" href="https://www.ourstoryinsight.com/skydance-boss-david-ellison-tells-hollywood-pals-that-paramount-merger-will-close-before-end-of-summer-sources/">Skydance boss David Ellison tells Hollywood pals that Paramount merger will close before end of summer: sources</a> appeared first on <a rel="nofollow" href="https://www.ourstoryinsight.com">Our Story Insight</a>.</p>
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		<title>TikTok&#8217;s Parent Company to Close Publishing Imprint</title>
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		<pubDate>Fri, 20 Jun 2025 16:42:39 +0000</pubDate>
				<category><![CDATA[Literature]]></category>
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					<description><![CDATA[<p>This content contains affiliate links. When you buy through these links, we may earn an affiliate commission. Welcome to Today in Books, our daily round-up of literary headlines at the intersection of politics, culture, media, and more. The Clock Runs Out for TikTok’s Publishing Experiment According to reporting from The Bookseller, TikTok parent company ByteDance [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.ourstoryinsight.com/tiktoks-parent-company-to-close-publishing-imprint/">TikTok&#8217;s Parent Company to Close Publishing Imprint</a> appeared first on <a rel="nofollow" href="https://www.ourstoryinsight.com">Our Story Insight</a>.</p>
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										<content:encoded><![CDATA[<p>This content contains affiliate links. When you buy through these links, we may earn an affiliate commission.</p>
<p>Welcome to Today in Books, our daily round-up of literary headlines at the intersection of politics, culture, media, and more.</p>
<h2 class="wp-block-heading">The Clock Runs Out for TikTok’s Publishing Experiment</h2>
<p>According to reporting from The Bookseller, TikTok parent company ByteDance appears to be closing 8th Note Press, the publishing imprint it launched in 2023. No one associated with the enterprise has gone on the record to confirm, but The Bookseller has discovered that “authors and agents are currently negotiating the return of rights to titles acquired by the publisher, and the business’ digital presence has apparently been quietly deleted.” Since its launch, 8th Note Press had acquired rights to more than 30 novels, guided by an editorial approach of “building backwards” informed by online trends. When TikTok’s move into publishing was first announced, its appeal seemed obvious: TikTok was moving units and minting bestsellers at a rate publishing had never seen before, and it had the power to decide what goes viral. What author wouldn’t want a connection on the inside? </p>
<p>As Jane Friedman reports, 8th Note Press seems to have failed not only to reverse-engineer BookTok success from the inside but to provide its authors any reasonable amount of support: “Authors who were on a successful self-publishing path have had their earnings and career trajectory seriously hampered.” </p>
<h2 class="wp-block-heading">Gay Romance That Caused Authors to Flee Russia Now Available in English</h2>
<p>Elena Malislova and Kateryna Sylvanova, who co-wrote Russian bestseller Pioneer Summer, a story of “forbidden first love” between two teenage boys who meet at summer camp in 1968, were forced to flee Russia in 2022 when right-wing media figures and politicians targeted them for allegedly violating a 2013 ban on “gay propaganda” for minors. The book, originally published online in 2017, was released in print in 2021—wrapped in plastic and labeled as 18+ in compliance with a law restricting distribution of queer literature—and sold more than 200,000 copies within six months. Due to a 2022 law that expanded the ban on “gay propaganda,” Pioneer Summer can no longer be sold in Russia, but an English edition published by Abrams is available now. Perfect timing for Pride Month. You know what to do.</p>
<h2 class="wp-block-heading">What’s Happening to Reading in the Age of AI?</h2>
<p>We’re still at the beginning of the conversation about the value of text and the utility of reading in the age of AI, and I am always here for a thoughtful and relatively non-alarmist conversation. Joshua Rothman asks a lot of good questions in this piece for The New Yorker, and I suspect he’s right that eventually, “The people who actually read “originals” will be rare, and they’ll have insights others lack, and enjoy experiences others forgo.” But he loses me with the assumption that “the era in which being “well-read” is a proxy for being educated or intelligent will largely be over,” making it “difficult to separate the deep readers from the superficial ones.” AI can read for you, but it cannot teach you to think. A new study out of MIT indicates that using AI tools like ChatGPT may result in decreased brain activity and erosion of critical thinking skills. In a possible future where many people rely on technology that is very good at reproducing and summarizing information and pretty bad at generating novel ideas, I believe we’ll know the deep readers from the superficial ones by the quality of their thoughts.</p>
<p>Today In Books</p>
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		<title>John Catsimatidis threatens to close Gristedes if Zohran Mamdani elected NYC mayor</title>
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		<pubDate>Thu, 19 Jun 2025 02:09:53 +0000</pubDate>
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		<guid isPermaLink="false">https://www.ourstoryinsight.com/?p=7704</guid>

					<description><![CDATA[<p>Billionaire John Catsimatidis threatened to close or sell his Manhattan-based grocery chain Gristedes if Democratic Socialist mayoral candidate Zohran Mamdani is elected the next mayor of New York City.  “We can’t compete with Mamdani opening city run supermarkets for free,” Catsimatidis told The Post on Wednesday, referring to the mayoral hopeful’s plans to open grocery stores [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.ourstoryinsight.com/john-catsimatidis-threatens-to-close-gristedes-if-zohran-mamdani-elected-nyc-mayor/">John Catsimatidis threatens to close Gristedes if Zohran Mamdani elected NYC mayor</a> appeared first on <a rel="nofollow" href="https://www.ourstoryinsight.com">Our Story Insight</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>Billionaire John Catsimatidis threatened to close or sell his Manhattan-based grocery chain Gristedes if Democratic Socialist mayoral candidate Zohran Mamdani is elected the next mayor of New York City. </p>
<p>“We can’t compete with Mamdani opening city run supermarkets for free,” Catsimatidis told The Post on Wednesday, referring to the mayoral hopeful’s plans to open grocery stores owned and operated by the government in the five boroughs.</p>
<p>“Will Mamdani run the supermarkets with union help? When people start shoplifting, will he even have cops arrest them,” Catsimatidis pondered.</p>
<p>John Catsimatidis threatened to close or sell his Manhattan-based grocery chain Gristedes if Zohran Mamdani is elected the next mayor of New York City. <span class="credit">Stefan Jeremiah for New York Post</span></p>
<p>The 76-year-old supermarket mogul also suggested that if corporate taxes are hiked in the Big Apple – another lofty ambition included in Mamdani’s campaign’s progressive agenda – that he would need to relocate his company’s headquarters.</p>
<p>“We’d probably move our corporate headquarters to New Jersey,” Catsimatidis said.</p>
<p>That move could include Catsimatidis’ Red Apple Group, the billionaire’s main conglomerate of real estate, energy and a slew of other industries.</p>
<p>The Gristedes supermarket chain, founded in 1888 when the first store opened in Manhattan, currently operates 17 stores in the Big Apple, according to its website.</p>
<p>“Will Mamdani run the supermarkets with union help? When people start shoplifting, will he even have cops arrest them,” Catsimatidis pondered. <span class="credit">Robert Miller</span></p>
<p>Catsimatidis added in an interview with The Press that if Mamdani takes over City Hall he’d spend more time in Florida, which he described as the “promise land.” </p>
<p>“I would spend far less than 183 days a year here, that’s for sure,” he told the publication. </p>
<p>Catsimatidis isn’t the only wealthy businessman mapping out an escape plan from a concrete jungle led by Mamdani. </p>
<p>Catsimatidis, 76, has run the mainstay supermarket for decades on top of his slew of other businesses. <span class="credit">Robert Miller</span></p>
<p>Bill Ackman, a billionaire hedge-fund manager, even went so far as to suggest Mamdani could trigger an exodus from the city not seen since the coronavirus pandemic.</p>
<p>“If Mamdani becomes the mayor of New York. You’re going to see the flight of businesses from New York. Most of the businesses that operate in New York City in the financial sector are incredibly portable,” Ackman told The Free Press.</p>
<p>Ackman’s own firm, Pershing Square, was eyeing a move to Miami, he added.</p>
<p>A Tuesday poll indicated that Mamdani held a narrow lead over former New York Gov. Andrew Cuomo, who resigned in 2021 over a slew of sexual assault allegations he continues to deny. </p>
<p>A spokesperson for Mamdani did not immediately respond to a request for comment.</p>
<p>The post <a rel="nofollow" href="https://www.ourstoryinsight.com/john-catsimatidis-threatens-to-close-gristedes-if-zohran-mamdani-elected-nyc-mayor/">John Catsimatidis threatens to close Gristedes if Zohran Mamdani elected NYC mayor</a> appeared first on <a rel="nofollow" href="https://www.ourstoryinsight.com">Our Story Insight</a>.</p>
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		<title>U.S.-U.K. Trade Deal to Build on Close Ties but Leave Some Tariffs in Place</title>
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		<pubDate>Fri, 09 May 2025 01:00:04 +0000</pubDate>
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					<description><![CDATA[<p>President Trump announced on Thursday that the United States intended to sign a trade deal with Britain that would bring the two nations closer and roll back some of the punishing tariffs he issued on that country’s products. Both sides consider a trade pact deeply beneficial, and a deal has been under discussion since Mr. [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.ourstoryinsight.com/u-s-u-k-trade-deal-to-build-on-close-ties-but-leave-some-tariffs-in-place/">U.S.-U.K. Trade Deal to Build on Close Ties but Leave Some Tariffs in Place</a> appeared first on <a rel="nofollow" href="https://www.ourstoryinsight.com">Our Story Insight</a>.</p>
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										<content:encoded><![CDATA[<p></p>
<p class="css-at9mc1 evys1bk0">President Trump announced on Thursday that the United States intended to sign a trade deal with Britain that would bring the two nations closer and roll back some of the punishing tariffs he issued on that country’s products.</p>
<p class="css-at9mc1 evys1bk0">Both sides consider a trade pact deeply beneficial, and a deal has been under discussion since Mr. Trump’s first term. But the announcement on Thursday was scant on details, reflecting the haste of the Trump administration’s efforts to negotiate with more than a dozen nations and rework the global trading system in a matter of months.</p>
<p class="css-at9mc1 evys1bk0">The agreement, which Mr. Trump said would be the first of many, would include Britain’s dropping its tariffs on U.S. beef, ethanol, sports equipment and other products, and buying $10 billion of Boeing airplanes. The United States in return said it would pare back tariffs that Mr. Trump has put on cars and steel, though it will leave a 10 percent levy in place for all British exports.</p>
<p class="css-at9mc1 evys1bk0">Neither government has said when they expect the agreement to be finalized. A document released by the Trump administration on Thursday evening listed half a dozen general priorities, and said the countries would immediately begin negotiations “to develop and formalize” them.</p>
<p class="css-at9mc1 evys1bk0">The British government said it was still pushing to bring down the 10 percent tariff on most other goods.<span class="css-8l6xbc evw5hdy0">  </span>American officials said they would push Britain to reconsider a tax on technology companies. Officials from both governments will need to meet in the coming months to hammer out more specific language, leaving open the potential for disagreements.</p>
<p class="css-at9mc1 evys1bk0">Nevertheless, the leaders of both nations hailed their cooperation in joint announcements on Thursday that invoked the deep relationship between their countries. Speaking from the Oval Office, with Prime Minister Keir Starmer of Britain on speakerphone, Mr. Trump called it a “great deal for both countries.” Mr. Starmer noted that it was the 80th anniversary of the Allies’ victory in Europe in World War II.</p>
<p class="css-at9mc1 evys1bk0">“There are no two countries that are closer than our two countries,” Mr. Starmer said. “And now we take this into new and important territory by adding trade and the economy to the closeness of our relationship.”</p>
<p class="css-at9mc1 evys1bk0">Both British and American businesses, including U.S. cattle ranchers and dairy farmers, also praised the arrangement, though some lamented that tariffs between the two countries would remain higher than they were when Mr. Trump came into office.</p>
<p class="css-at9mc1 evys1bk0">The announcement comes as the United States races to finalize agreements with more than a dozen other countries eager to avoid Mr. Trump’s high tariffs. U.S. officials have been negotiating with India, Israel, Japan, South Korea and Vietnam, among other trading partners, for agreements that would drop tariffs between the countries.</p>
<p class="css-at9mc1 evys1bk0">Trump officials are also headed to Geneva this weekend to discuss trade issues with Chinese officials, amid an intense standoff that has shut off U.S. trade with China and is threatening to put many companies out of business.</p>
<p class="css-at9mc1 evys1bk0">Amid the festering disputes with many countries, closer ties with Britain appeared to be low-hanging fruit for the Trump administration. British officials have eyed an agreement with the United States since leaving the European Union in 2020 as a way to offset reduced trade with Europe, and Mr. Trump has pushed for a deal with Britain since his first term.</p>
<p class="css-at9mc1 evys1bk0">Mr. Trump, who is fixated on trade deficits, has also praised the country for having relatively balanced trade with the United States. Last month, the president imposed the same 10 percent global tariff on Britain that he put on other countries, but not the higher “reciprocal” tariffs that were applied to many countries that ship the United States more products.</p>
<p class="css-at9mc1 evys1bk0">Officials said Thursday that their plans would leave the 10 percent tariff on British exports in place but roll back others that Mr. Trump has put on cars and steel. In return, Britain would offer billions of dollars of market access for American beef and other exports.</p>
<p class="css-at9mc1 evys1bk0">One of the most contentious issues for Britain in recent months has been the hefty tariffs Mr. Trump applied to automotive imports, which threatened British companies like Jaguar Land Rover and Aston Martin.</p>
<p class="css-at9mc1 evys1bk0">Under the terms of the new arrangement, Britain will be allowed to send 100,000 vehicles to the United States under a tariff of 10 percent. The British government said that any cars shipped beyond that level would face a 27.5 percent tariff, and that U.S. tariffs on British steel would fall to zero. Britain sent 92,000 vehicles to the United States in 2024, according to data from Oxford Economics.</p>
<p class="css-at9mc1 evys1bk0">U.S. firms in turn will gain more ability to sell to the British government, and streamlined customs procedures when selling into Britain, according to a White House fact sheet. In addition, the governments said they will cooperate on issues of economic security, like enacting global technology controls and setting up a secure supply chain for important products like steel and pharmaceuticals.</p>
<p class="css-at9mc1 evys1bk0">U.S. officials hope the announcement will send a message to other American trading partners that if they agree to open up their markets, they too could see some of the tariffs Mr. Trump has applied rolled back.</p>
<p class="css-at9mc1 evys1bk0">Mr. Trump’s defenders have praised his deal-making ability and said that the global tariffs he has issued have given him extraordinary leverage over other countries. Critics have painted the president as increasingly desperate to solve a crisis of his own making, as tariffs begin to push up U.S. prices and dampen the economy.</p>
<p class="css-at9mc1 evys1bk0">Wall Street welcomed the news on Thursday, seeing it as a sign that the Trump administration might move to mend ties with other trade partners. The S&#038;P 500 ended the day 0.6 percent higher after paring back some gains from earlier on Thursday.</p>
<p class="css-at9mc1 evys1bk0">Rob Haworth, a senior investment strategy director at U.S. Bank Asset Management, said the market was “cheering progress on this deal.” But he added, “this is clearly a market on edge, and I think we’re not out of the woods yet.”</p>
<p class="css-at9mc1 evys1bk0">The National Cattlemen’s Beef Association, which represents ranchers, praised the Trump administration for expanding U.S. access to the British market.</p>
<p class="css-at9mc1 evys1bk0">“With this trade deal, President Trump has delivered a tremendous win for American family farmers and ranchers,” said Buck Wehrbein, a Nebraska cattleman who heads the group.</p>
<p class="css-at9mc1 evys1bk0">Other analysts were less impressed. Paul Ashworth, the chief North America economist for Capital Economics, wrote in a note that “the ‘full and comprehensive’ trade deal between the U.S. and the U.K. announced in a rush today by President Donald Trump and PM Keir Starmer is no such thing.”</p>
<p class="css-at9mc1 evys1bk0">“This rush to demonstrate progress on ‘deals’ reveals a rising desperation within the administration to roll back tariffs before they hit G.D.P. growth and inflation,” Mr. Ashworth added.</p>
<p class="css-at9mc1 evys1bk0">Britain is the United States’ 11th-largest trading partner in goods, representing 2.9 percent of total U.S. trade in the first quarter of the year. The United States sent $80 billion of machinery, airplanes, natural gas, crude oil and other products to Britain in 2024, while it bought $68 billion of cars, pharmaceuticals and other goods in return.</p>
<p class="css-at9mc1 evys1bk0">The United States is Britain’s largest single trading partner, though most of that trade relationship is in services, which are not affected by tariffs.</p>
<p class="css-at9mc1 evys1bk0">The Trump administration notified Congress of its intent to negotiate a trade deal with Britain back in 2018. But the talks never got much traction in Mr. Trump’s first term because of British resistance to America’s chemically treated beef and chicken, as well as fears that the United States would push for American companies to gain deeper access to Britain’s National Health Service.</p>
<p class="css-at9mc1 evys1bk0">During the Biden administration, British officials continued to advocate a trade deal but did not make much progress because of Democrats’ skepticism.</p>
<p class="css-at9mc1 evys1bk0">In late February, at a party at the British ambassador’s residence in Washington, Mr. Starmer, who was visiting, told Commerce Secretary Howard Lutnick of Britain’s interest in focusing on trade, according to a person with knowledge of the conversation. Mr. Lutnick, who oversees a portfolio that includes U.S. trade policy, connected with his counterpart in the U.K. government, Jonathan Reynolds. British officials made clear to the Trump team they wanted to be the first country to make a deal.</p>
<p class="css-at9mc1 evys1bk0">Mr. Trump’s special envoy to Britain, the former producer of his show “The Apprentice,” Mark Burnett, was involved in the early discussions and was a proponent of trying to secure an early deal with the country.</p>
<p class="css-at9mc1 evys1bk0">With Mr. Lutnick focusing on the big picture and Jamieson Greer, the U.S. trade representative, working through the details and execution, the governments hammered out a framework. Mr. Trump also engaged directly with Mr. Starmer, including putting in an 11th hour call to push for more in the agreement, the British prime minister said Thursday.</p>
<p class="css-at9mc1 evys1bk0">Mr. Trump liked the idea of Britain being his first partner, given the country’s special relationship with the United States, and he thought the agreement would send a good signal to the world, according to a person with knowledge of his thinking. Britain is also not a major source of automobiles or steel for the United States, which helped persuade American officials to drop the tariffs on those products.</p>
<p class="css-at9mc1 evys1bk0">The announcement also provides Mr. Starmer a much-needed political victory, appearing to vindicate his strategy of cultivating a relationship with Mr. Trump.</p>
<p class="css-at9mc1 evys1bk0">But some analysts have noted that the agreement left many tariffs in place and skipped over more contentious issues, like opening Britain’s health care market to U.S. companies, or the digital service tax that Britain has imposed on American tech firms. They suggested that trade talks with other governments that are less closely allied with the United States could be tougher to finalize.</p>
<p class="css-at9mc1 evys1bk0">“If we’re 40 days out from Liberation Day, and the first deal and the only deal is with a country where we run a bilateral trade surplus that was not seen as a problem coming into Liberation Day, I take it as a kind of bearish signal about how difficult the next deals are going to be,” said Josh Lipsky, the chairman of international economics at the Atlantic Council, a think tank. He referred to Mr. Trump’s term for April 2, when the president rolled out his tariff plan. He later paused most of the tariffs for 90 days.</p>
<p class="css-at9mc1 evys1bk0">Other industry executives expressed nervousness about the precedent that rolling back tariffs on foreign steel, aluminum and cars might set for other negotiations, or complained about the concessions being unfair for U.S. industry.</p>
<p class="css-at9mc1 evys1bk0">Matt Blunt, the president of the American Automotive Policy Council, which represents Ford, General Motors and Stellantis, said his group was “very disappointed” that the administration had prioritized Britain over Canada and Mexico, which remain subject to 25 percent automotive tariffs and buy far more from U.S. factories.</p>
<p class="css-at9mc1 evys1bk0">It would now be cheaper, Mr. Blunt said, to import a car from Britain than one from Mexico or Canada that might source half its parts from the United States.</p>
<p class="css-798hid etfikam0">Mark Landler, Eshe Nelson and Danielle Kaye contributed reporting.</p>
<p>The post <a rel="nofollow" href="https://www.ourstoryinsight.com/u-s-u-k-trade-deal-to-build-on-close-ties-but-leave-some-tariffs-in-place/">U.S.-U.K. Trade Deal to Build on Close Ties but Leave Some Tariffs in Place</a> appeared first on <a rel="nofollow" href="https://www.ourstoryinsight.com">Our Story Insight</a>.</p>
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		<title>Ray Dalio says Trump trade war has put US &#8216;close to a recession&#8217;</title>
		<link>https://www.ourstoryinsight.com/ray-dalio-says-trump-trade-war-has-put-us-close-to-a-recession/</link>
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		<pubDate>Mon, 14 Apr 2025 02:20:18 +0000</pubDate>
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					<description><![CDATA[<p>Ray Dalio, billionaire founder of one of the world’s largest hedge funds, said on Sunday that President Trump’s trade war has brought the US near to recession. He was asked on NBC’s “Meet the Press” if he thought the world’s largest economy could dip into recession, usually understood as a meaningful decline in output, as a result of [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.ourstoryinsight.com/ray-dalio-says-trump-trade-war-has-put-us-close-to-a-recession/">Ray Dalio says Trump trade war has put US &#8216;close to a recession&#8217;</a> appeared first on <a rel="nofollow" href="https://www.ourstoryinsight.com">Our Story Insight</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>Ray Dalio, billionaire founder of one of the world’s largest hedge funds, said on Sunday that President Trump’s trade war has brought the US near to recession.</p>
<p>He was asked on NBC’s “Meet the Press” if he thought the world’s largest economy could dip into recession, usually understood as a meaningful decline in output, as a result of a trade war that has roiled global markets in recent weeks.</p>
<p>The Bridgewater Associates founder said, “I think that right now we are at a decision-making point and very close to a recession.”</p>
<p>Ray Dalio said on Sunday that President Trump’s trade war has brought the US near to recession. <span class="credit">REUTERS</span></p>
<p>The tariff plan includes duties on dozens of countries but the planned start dates for many of those changed abruptly last week, with a 90-day pause for goods from many places except China.</p>
<p>Dalio said this had been “very disruptive” and the tariffs’ impact was “like throwing rocks into the production system.”</p>
<p>He also expressed worry about the potential combined impact of U.S. debt, U.S. budget deficit and global political tension.</p>
<p>Dalio said the current situation in the market “could be more severe” than crises in 1971 and 2008. <span class="credit">Getty Images</span></p>
<p>“We’re having profound changes in the world order… if you take tariffs, if you take debt, if you take the rising power challenging existing power… How that’s handled could produce something that is much worse than a recession.”</p>
<p>He invoked market crises of 1971 and 2008 and said the current situation “could be more severe than those if these other matters simultaneously occur,” he said.</p>
<p>Dalio founded Connecticut-based Bridgewater roughly 50 years ago and has 175 investors, including pension funds, foundations and central banks.</p>
<p>The post <a rel="nofollow" href="https://www.ourstoryinsight.com/ray-dalio-says-trump-trade-war-has-put-us-close-to-a-recession/">Ray Dalio says Trump trade war has put US &#8216;close to a recession&#8217;</a> appeared first on <a rel="nofollow" href="https://www.ourstoryinsight.com">Our Story Insight</a>.</p>
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		<title>McDonald&#8217;s to close three CosMc&#8217;s locations — and open two more</title>
		<link>https://www.ourstoryinsight.com/mcdonalds-to-close-three-cosmcs-locations-and-open-two-more/</link>
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		<pubDate>Sat, 11 Jan 2025 06:59:09 +0000</pubDate>
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					<description><![CDATA[<p>A sign hangs outside of a CosMc&#8217;s restaurant, a concept recently launched by McDonald’s, in Bolingbrook, Illinois, on Dec. 11, 2023. Scott Olson &#124; Getty Images McDonald&#8217;s will shutter three locations of its drinks-focused spinoff brand, CosMc&#8217;s. To test the concept, the fast-food giant opened its first CosMc&#8217;s location more than a year ago in [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.ourstoryinsight.com/mcdonalds-to-close-three-cosmcs-locations-and-open-two-more/">McDonald&#8217;s to close three CosMc&#8217;s locations — and open two more</a> appeared first on <a rel="nofollow" href="https://www.ourstoryinsight.com">Our Story Insight</a>.</p>
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										<content:encoded><![CDATA[<p><span class="HighlightShare-hidden" style="top:0;left:0"/></p>
<p>A sign hangs outside of a CosMc&#8217;s restaurant, a concept recently launched by McDonald’s, in Bolingbrook, Illinois, on Dec. 11, 2023.</p>
<p>Scott Olson | Getty Images</p>
<p><span class="QuoteInBody-quoteNameContainer" data-test="QuoteInBody" id="RegularArticle-QuoteInBody-1">McDonald&#8217;s<span class="QuoteInBody-inlineButton"><span class="AddToWatchlistButton-watchlistContainer" id="-WatchlistDropdown" data-analytics-id="-WatchlistDropdown"><span class="AddToWatchlistButton-addWatchListFromTag"/></span></span></span> will shutter three locations of its drinks-focused spinoff brand, CosMc&#8217;s.</p>
<p>To test the concept, the fast-food giant opened its first CosMc&#8217;s location more than a year ago in the Chicago suburb of Bolingbrook, followed by six more in Texas. McDonald&#8217;s has converted larger namesake restaurants into CosMc&#8217;s, in addition to building smaller prototype locations.</p>
<p>The smaller stores work better for the test, the company said Thursday. As a result, McDonald&#8217;s will close three of its larger format CosMc&#8217;s locations and open two more small Texas restaurants. The company did not disclose the locations for either the openings or closures, although CosMc&#8217;s website says a store is coming soon to Allen, Texas.</p>
<p>McDonald&#8217;s also shared other early learnings from the pilot on Thursday. Savory hash browns are the top-selling food — at any time of day — followed by McPops, the chain&#8217;s mini filled doughnuts. Best-selling drinks include the Island Pick-Me-Up Punch, Churro Cold Brew Frappe and the Sour Energy Burst.</p>
<p>The CosMc&#8217;s test will continue for the &#8220;foreseeable future,&#8221; according to the company.</p>
<p>McDonald&#8217;s created CosMc&#8217;s as its entry point into the growing &#8220;afternoon beverage pick-me-up occasion.&#8221;</p>
<p>While CosMc&#8217;s menu features some McDonald&#8217;s classics, it also offers a host of new items playing off other beverage and snacking trends, such as its iced turmeric spiced lattes, tropical spiceade and pretzel bites. <span class="QuoteInBody-quoteNameContainer" data-test="QuoteInBody" id="RegularArticle-QuoteInBody-4">Starbucks<span class="QuoteInBody-inlineButton"><span class="AddToWatchlistButton-watchlistContainer" id="-WatchlistDropdown" data-analytics-id="-WatchlistDropdown"><span class="AddToWatchlistButton-addWatchListFromTag"/></span></span></span>, <span class="QuoteInBody-quoteNameContainer" data-test="QuoteInBody" id="RegularArticle-QuoteInBody-5">Dutch Bros.<span class="QuoteInBody-inlineButton"><span class="AddToWatchlistButton-watchlistContainer" id="-WatchlistDropdown" data-analytics-id="-WatchlistDropdown"><span class="AddToWatchlistButton-addWatchListFromTag"/></span></span></span> and bubble tea chain Kung Fu Tea have found success with younger consumers by offering customizable cold drinks.</p>
<p>The name for the new brand comes from CosMc, a McDonaldland mascot that appeared in advertisements in the late 1980s and early 1990s. CosMc is an alien from outer space who craves McDonald&#8217;s food.</p>
<p>While it is unclear just how much McDonald&#8217;s plans to grow CosMc&#8217;s, it is still a miniscule part of the burger giant&#8217;s overall U.S. footprint. The company has more than 13,500 U.S. restaurants. Still, McDonald&#8217;s is hoping to learn more about its CosMc&#8217;s customers. Last year, it rolled out a loyalty program specific to CosMc&#8217;s.</p>
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		<title>Wendy&#8217;s, Denny&#8217;s, Red Lobster close locations in 2024</title>
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		<pubDate>Wed, 01 Jan 2025 14:36:48 +0000</pubDate>
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					<description><![CDATA[<p>A rough year for the restaurant industry led many chains to close underperforming locations in 2024, as they try to improve their sales in the years to come. Inflation-weary consumers pulled back their restaurant spending in 2024 and instead sought value and discounts when they did choose to dine outside their homes. Overall U.S. restaurant [&#8230;]</p>
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<p>A rough year for the restaurant industry led many chains to close underperforming locations in 2024, as they try to improve their sales in the years to come.</p>
<p>Inflation-weary consumers pulled back their restaurant spending in 2024 and instead sought value and discounts when they did choose to dine outside their homes. Overall U.S. restaurant visits fell for the first 10 months of the year, according to data from industry tracker Black Box Intelligence.</p>
<p>The decline in restaurant spending led to weak sales and a surge in bankruptcies for the industry. Twenty-six restaurant companies filed for Chapter 11 bankruptcy protection in 2024, nearly triple the number of filings in 2020, during the height of the pandemic.</p>
<p>With few exceptions, casual-dining chains in particular struggled to attract customers, adding to the segment&#8217;s challenges that have mounted since the Great Recession. Since the rise of fast-casual chains, many diners have opted for the convenience and promised quality of players like <span class="QuoteInBody-quoteNameContainer" data-test="QuoteInBody" id="RegularArticle-QuoteInBody-3">Chipotle<span class="QuoteInBody-inlineButton"><span class="AddToWatchlistButton-watchlistContainer" id="-WatchlistDropdown" data-analytics-id="-WatchlistDropdown"><span class="AddToWatchlistButton-addWatchListFromTag"/></span></span></span> or <span class="QuoteInBody-quoteNameContainer" data-test="QuoteInBody" id="RegularArticle-QuoteInBody-4">Sweetgreen<span class="QuoteInBody-inlineButton"><span class="AddToWatchlistButton-watchlistContainer" id="-WatchlistDropdown" data-analytics-id="-WatchlistDropdown"><span class="AddToWatchlistButton-addWatchListFromTag"/></span></span></span> over the casual-dining chains that dominated in the prior decades.</p>
<p>Here are the restaurant chains that announced closures in 2024:</p>
<h2 class="ArticleBody-subtitle">Wendy&#8217;s</h2>
<p>The Wendy&#8217;s logo is seen on a sign outside the restaurant in Muncy. </p>
<p>Paul Weaver | Lightrocket | Getty Images</p>
<p>In late October,<span class="QuoteInBody-quoteNameContainer" data-test="QuoteInBody" id="RegularArticle-QuoteInBody-5"> Wendy&#8217;s<span class="QuoteInBody-inlineButton"><span class="AddToWatchlistButton-watchlistContainer" id="-WatchlistDropdown" data-analytics-id="-WatchlistDropdown"><span class="AddToWatchlistButton-addWatchListFromTag"/></span></span></span> announced it would shutter 140 underperforming locations by the end of the year, in addition to the roughly 80 closures it had in the first three quarters.</p>
<p>Executives made the decision to prune some outdated restaurants that had annual unit volumes of about $1 million each to improve the company&#8217;s overall footprint.</p>
<p>Despite the closures, the company expects to end 2024 with an unchanged restaurant count, thanks to its new restaurant openings, Wendy&#8217;s CEO Kirk Tanner told investors on the company&#8217;s third-quarter earnings conference call.</p>
<h2 class="ArticleBody-subtitle">Applebee&#8217;s</h2>
<p>A sign is posted in front of an Applebee&#8217;s restaurant on June 12, 2024 in Hayward, California. </p>
<p>Justin Sullivan | Getty Images</p>
<p>In May, Applebee&#8217;s parent, <span class="QuoteInBody-quoteNameContainer" data-test="QuoteInBody" id="RegularArticle-QuoteInBody-6">Dine Brands<span class="QuoteInBody-inlineButton"><span class="AddToWatchlistButton-watchlistContainer" id="-WatchlistDropdown" data-analytics-id="-WatchlistDropdown"><span class="AddToWatchlistButton-addWatchListFromTag"/></span></span></span>, said it planned to shutter between 25 and 35 of the brand&#8217;s U.S. locations. By late September, Applebee&#8217;s global unit count had fallen by 36 locations compared with the year-ago period.</p>
<p>Applebee&#8217;s same-store sales have declined for the last six straight quarters, according to company filings.</p>
<p>Dine Brands, which also owns IHOP, has closed more stores than it has opened every year since 2016, with the exception of 2022.</p>
<h2 class="ArticleBody-subtitle">Denny&#8217;s</h2>
<p>In an aerial view, customers enter a Denny&#8217;s restaurant on February 13, 2023 in Emeryville, California. </p>
<p>Justin Sullivan | Getty Images</p>
<p><span class="QuoteInBody-quoteNameContainer" data-test="QuoteInBody" id="RegularArticle-QuoteInBody-7">Denny&#8217;s<span class="QuoteInBody-inlineButton"><span class="AddToWatchlistButton-watchlistContainer" id="-WatchlistDropdown" data-analytics-id="-WatchlistDropdown"><span class="AddToWatchlistButton-addWatchListFromTag"/></span></span></span> closed about 50 locations in 2024 and plans to shutter an additional 100 restaurants by the end of 2025. Including this year&#8217;s closures, the 24-hour diner chain still has roughly 1,300 open locations.</p>
<p>The restaurants marked for closure are in the lower third of the chain&#8217;s performers, with annual unit volumes of $1.9 million to $2 million, executives said at the company&#8217;s investor day in October. Once those restaurants shutter, Denny&#8217;s expects that both its same-store sales and annual unit volumes will improve. In its latest quarter, the chain&#8217;s same-store sales were roughly flat.</p>
<p>After 2025, Denny&#8217;s plans to open between 45 and 50 net new locations annually.</p>
<h2 class="ArticleBody-subtitle">TGI Fridays</h2>
<p>TGI Fridays logo is seen on one of their branches.</p>
<p>John Lamparski | Lightrocket | Getty Images</p>
<p>In November, TGI Fridays joined the slew of restaurant companies that filed for bankruptcy protection. But before it filed for Chapter 11, it shuttered 86 restaurants, starting with 36 closures in January and another 50 in late October.</p>
<p>The last round of closures took the chain&#8217;s footprint down to roughly 160 open locations worldwide. But the count could dwindle more. A bankruptcy court in Texas will determine TGI Fridays&#8217; future, which could mean closures for the chain.</p>
<h2 class="ArticleBody-subtitle">Red Lobster</h2>
<p>The exterior of a Red Lobster restaurant on May 20, 2024 in Austin, Texas. Red Lobster has filed for Chapter 11 bankruptcy protection after a failed lease-back agreement and &#8220;endless shrimp&#8221; promotion backfired against company revenue.</p>
<p>Brandon Bell | Getty Images</p>
<p>Red Lobster permanently shuttered more than 120 restaurants in 2024.</p>
<p>The seafood chain closed roughly 100 locations before it filed for Chapter 11 bankruptcy protection in May. Before it exited bankruptcy with a new owner and CEO, the company rejected the leases of another 23 restaurants.</p>
<p>But with 2024 now in the rearview mirror, Red Lobster is hoping that a comeback — with no more restaurant closures — is in its future.</p>
<h2 class="ArticleBody-subtitle">Noodles &#038; Co.</h2>
<p>Michael Siluk | UCG | Universal Images Group | Getty Images</p>
<p>Fast-casual chain <span class="QuoteInBody-quoteNameContainer" data-test="QuoteInBody" id="RegularArticle-QuoteInBody-8">Noodles &#038; Co.<span class="QuoteInBody-inlineButton"><span class="AddToWatchlistButton-watchlistContainer" id="-WatchlistDropdown" data-analytics-id="-WatchlistDropdown"><span class="AddToWatchlistButton-addWatchListFromTag"/></span></span></span> announced in August that it would close roughly 20 locations after reviewing its entire 475-restaurant footprint.</p>
<p>The review was part of the company&#8217;s efforts to improve its operations and finances after a rocky few years. Noodles &#038; Co. has also been overhauling its menu, cutting items that don&#8217;t sell and adding new entrees that might appeal to more customers.</p>
<p>But the turnaround will take time. In its latest quarter, the company said same-store sales fell 3.3%.</p>
<h2 class="ArticleBody-subtitle">Bloomin&#8217;</h2>
<p>Customers arrive at an Outback Steakhouse restaurant on November 02, 2021 in Skokie, Illinois.</p>
<p>Scott Olson | Getty Images</p>
<p><span class="QuoteInBody-quoteNameContainer" data-test="QuoteInBody" id="RegularArticle-QuoteInBody-9">Bloomin&#8217; Brands<span class="QuoteInBody-inlineButton"><span class="AddToWatchlistButton-watchlistContainer" id="-WatchlistDropdown" data-analytics-id="-WatchlistDropdown"><span class="AddToWatchlistButton-addWatchListFromTag"/></span></span></span>, the parent company of Outback Steakhouse, Carrabba&#8217;s Italian Grill and Bonefish Grill, shuttered 41 underperforming restaurants in 2024.</p>
<p>The closures affected older locations with leases dating back to the 1990s and early 2000s, executives said on the company&#8217;s earnings conference call in February. To make the decision, the company weighed the locations&#8217; sales and traffic, as well as the cost of investments to improve the locations. Most of the closures were Outback locations.</p>
<p>Like many other casual-dining companies, Bloomin&#8217; has struggled to grow sales in recent quarters. Its U.S. same-store sales fell 1.5% in the third quarter.</p>
<h2 class="RelatedContent-header">Don’t miss these insights from CNBC PRO</h2>
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		<title>California restaurant Lima sued over &#8216;Ladies Night&#8217; forced to close</title>
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		<pubDate>Thu, 26 Dec 2024 22:39:11 +0000</pubDate>
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					<description><![CDATA[<p>A popular restaurant in California’s Bay Area is shutting its doors after settling a costly discrimination lawsuit — over its ‘Ladies Night’ promotion. Lima Restaurant — a family-run Peruvian eatery in Concord, Calif., about 20 miles outside of Oakland — told patrons it will serve its final meal on New Year’s Eve because of the [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.ourstoryinsight.com/california-restaurant-lima-sued-over-ladies-night-forced-to-close/">California restaurant Lima sued over &#8216;Ladies Night&#8217; forced to close</a> appeared first on <a rel="nofollow" href="https://www.ourstoryinsight.com">Our Story Insight</a>.</p>
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										<content:encoded><![CDATA[<p>A popular restaurant in California’s Bay Area is shutting its doors after settling a costly discrimination lawsuit — over its ‘Ladies Night’ promotion.</p>
<p>Lima Restaurant — a family-run Peruvian eatery in Concord, Calif., about 20 miles outside of Oakland — told patrons it will serve its final meal on New Year’s Eve because of the gender discrimination lawsuit.</p>
<p>Chef/owner John Marquez said the lawsuit, filed last year, has cost his restaurant tens of thousands of dollars — putting a major dent in the business’ cash flow.</p>
<p>Lima Restaurant, a Peruvian eatery in Concord, Calif., is shutting down for good at the end of the year. <span class="credit">Google Maps</span></p>
<p>“We haven’t fully recovered from the recent discrimination lawsuit related to our ladies’ night discount” as well as the escalating operating costs of the business, Marquez told KRON-TV .</p>
<p>The restaurant, which has been open for nearly a decade, held a once-a-week “Ladies Night” promotion — offering drinks and wine at half price for three hours to its female patrons — for the past several years.</p>
<p>Marquez said he believes that the people behind the lawsuit aren’t local residents, but “ambulance-chasing lawyers” looking to cash in the state’s law.</p>
<p>“It’s a frivolous lawsuit that took us down” Marquez told ABC7News.</p>
<p>The news of Lima Restaurant’s impending closure did not go down well with patrons.</p>
<p>“Promoting one gender does not discriminate against one gender,” John Dias, a regular at the restaurant, told KRON-TV.</p>
<p>“Hello, I’m a lady. If I want to go out with the girls, it doesn’t seem like a rude thing to do,” added Mel Ludehese, who was having a last drink at Lima with Dias.</p>
<p>The restaurant’s owners say that a lawsuit has drained it of money it needs to keep operating. <span class="credit">Google Maps</span></p>
<p>Earlier this year, the Fresno Grizzlies, a minor league baseball team which serves as the Single-A affiliate of the Colorado Rockies, was hit with a similar discrimination lawsuit after they allowed free admission for women as part of a “ladies night” promotion last year.</p>
<p>The Grizzlies were sued for $5 million, according to The Fresno Bee.</p>
<p>The plaintiffs in the Fresno Grizzlies case are represented by a San Diego-based lawyer who reached an agreement on a $500,000 settlement from the Oakland Athletics in 2016 after he filed a class-action lawsuit against the baseball team over a Mother’s Day giveaway of free plaid reversible bucket hats.</p>
<p>The attorney, Alfred Rava, claimed in the lawsuit that he was the victim of sex discrimination by the A’s because he did not receive a free plaid reversible bucket hat during a promotion at an A’s game on May 8, 2004.</p>
<p>The lawsuit filed against the restaurant alleges that its “Ladies Night” promotion violated anti-discrimination laws. The image above is a stock photo. <span class="credit">Olesia Bilkei – stock.adobe.com</span></p>
<p>In 1985, the California Supreme Court ruled that similar “ladies’ day” promotions at businesses such as car washes and nightclubs violated the Unruh Civil Rights Act of 1959.</p>
<p>The state law prohibits discrimination based on sex, race, color, religion, ancestry, national origin, sexual orientation and immigration status.</p>
<p>California isn’t the only state where the courts have ruled that “ladies night” promotions could constitute illegal discrimination.</p>
<p>Courts in New York, New Jersey, Minnesota, Iowa, Maryland, Pennsylvania, Washington and Wisconsin have ruled on cases where gender-based promotions were deemed illegal.</p>
<p>The post <a rel="nofollow" href="https://www.ourstoryinsight.com/california-restaurant-lima-sued-over-ladies-night-forced-to-close/">California restaurant Lima sued over &#8216;Ladies Night&#8217; forced to close</a> appeared first on <a rel="nofollow" href="https://www.ourstoryinsight.com">Our Story Insight</a>.</p>
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