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NEW YORK – Wall Street clawed back the last of the historic, frenzied losses unleashed by the coronavirus, as the S&P 500 closed at an all-time high Tuesday.The benchmark index notched a modest 0.2% gain to beat its previous record high set on Feb. 19, before the pandemic shut down businesses around the world and knocked economies into their worst recessions in decades.The S&P 500′s milestone caps a furious 51.5% rally that began in late March.Tremendous amounts of aid from the Federal Reserve and Congress helped launch the rally, which built momentum on signs of budding growth in the economy. 616
NEW YORK (AP) — Dunkin' doughnuts and coffee is being combined with Buffalo Wild Wings and Arby's sandwiches.Inspire Brands Inc. said Friday that it is acquiring Dunkin' Brands Group Inc. for .3 billion, including the Dunkin' Brands' debt that Inspire will be taking on.The private-equity firm will pay 6.50 in cash for all of Dunkin' Brands' shares, which closed Friday at .71.Dunkin' Brands' stock surged to an all-time high earlier this week after the company confirmed the two were in merger talks.Dunkin', based in Canton, Massachusetts, also owns the Baskin-Robbins ice cream chain."Dunkin' and Baskin-Robbins are category leaders with more than 70 years of rich heritage, and together they are two of the most iconic restaurant brands in the world," Paul Brown, Co-founder and Chief Executive Officer of Inspire Brands, said in the news release.There are 12,500 Dunkin' stores and 8,000 Baskin-Robbins outlets worldwide.Inspire will operate Dunkin' and Baskin-Robbins as distinct brands, the company stated.According to the New York Times, this is the largest restaurant acquisition in more than a decade. 1129
NEW YORK — A lawyer for a British socialite charged with procuring teenage girls in the 1990s for financier Jeffrey Epstein to sexually abuse says her client's sleep is interrupted every 15 minutes in jail to ensure she is breathing. Attorney Bobbi Sternheim told a Manhattan judge Tuesday that Ghislaine Maxwell faces more restrictive conditions than inmates convicted of terrorism or murder. She asked a judge to intervene on her client's behalf. She said Maxwell has no history of mental health issues or suicidal thoughts. Maxwell is being held without bail in a federal facility in Brooklyn as she awaits a July trial. Prosecutors declined to comment.Maxwell's arrest earlier this year came less than a year after Epstein died by suicide while being held on sex trafficking charges. An investigation into Epstein's death remains open.Epstein and Maxwell have been connected with powerful world leaders, including President Donald Trump, former President Bill Clinton and Prince Andrew. 998
NEW YORK (KGTV/AP) -- Macy's is hiring more temporary workers to handle online orders for the holiday shopping season.Macy's says it will hire 18,000 workers to fulfill online orders and other tasks at warehouses devoted to e-commerce operations. That's an increase of 3,000 from a year ago. Overall, Macy's temporary hiring is expected at 80,000, down from 83,000 a year ago.The overall decline contrasts with rival Target Corp., which announced earlier this week that it was hiring 100,000 people to work at its stores, an increase of 40 percent from a year ago. The retailer also plans to hire 4,500 workers to help pack and ship online orders at its warehouses. 678
NEW YORK (AP) — Lawyers for the Girl Scouts say that the century-old organization is now directly competing with the Boy Scouts for female recruits and that it's not a fair fight. The lawyers filed papers Thursday in federal court in Manhattan to repel an effort by the Boy Scouts to toss out a 2-year-old trademark infringement lawsuit. Lawyers for the Boy Scouts last month asked a judge to reject claims that the organization is infringing on trademarks when it recruits girls with words like “scouts" and “scouting.” The Girl Scouts say in their filing that the Boy Scouts' marketing of expanded services for girls is “highly damaging.” 648