A McDonald's employee working at a store in Savannah, Georgia, was sentenced to five years in federal prison after pleading guilty to lighting a fire inside a dumpster to clear out customers because the restaurant was overcrowded. Joshua Daryl McGregor, 34, was working at the restaurant on 2701 Montgomery Ave. in April 2023 when he became frustrated that the store was too busy, the U.S. Attorney's Office said in a press release."Intentionally setting a fire in an effort to shut down or damage someone else’s ...

Oil giant Chevron is moving its headquarters to Texas from California, the latest company to exit the Golden State. The company on Friday announced its planned corporate relocation to Houston from San Ramon, where it has long been based.CLICK HERE TO READ MORE ON FOX BUSINESS "The company expects all corporate functions to migrate to Houston over the next five years," Chevron said. "Positions in support of the company’s California operations will remain in San Ramon." Chevron said about 2,000 of its employe ...

Intel stock hit the skids after announcing it will slash nearly 17,000 workers and pause its dividend as part of a sweeping cost-cutting plan.  The chipmaker plans to "resize and refocus" its 116,500 workforce in an effort to save $10 billion to combat challenging trends. Intel shares fell nearly 20% in extended trading Thursday.  Ticker Security Last Change Change % INTC INTEL CORP. 29.05 -1.69 -5.50% "Clearly market conditions, some were good and some not so good, and you have to adjust the financial en ...

Core Viewpoint - Vista Outdoor is exploring strategic alternatives after significant shareholder opposition to the sale of its ammunition division to Czechoslovak Group (CSG) [1] Group 1: Shareholder Reactions - Two of Vista's largest shareholders, Gates Capital Management and GAMCO Asset Management, publicly opposed the sale while supporting MNC Capital Management's all-cash offer of $3.2 billion for The Kinetic Group and its outdoor branch Revelyst [2] - GAMCO described MNC Capital's fully financed $42 per share all-cash offer as superior to the proposed sale to CSG and urged Vista's board to reconsider its position [3] Group 2: Company Actions - Vista is considering re-engaging in talks with MNC Capital in hopes of securing a larger proposal, as MNC has indicated a willingness to increase its offer [3] - The company decided to adjourn its shareholder meeting until September 13, marking the sixth adjournment this year, while asserting its commitment to act in the best interests of the company and its stockholders [4]

Boeing has tapped Robert "Kelly" Ortberg as its incoming chief executive, naming an industry veteran with an engineering background to right the ship at the embattled aerospace giant. Ortberg, 64, is set to take the reins from outgoing CEO Dave Calhoun on Aug. 8, and will also serve as president and as a member of the board. After obtaining a bachelor's degree in mechanical engineering from the University of Iowa, Ortberg began his career as an engineer at Texas Instruments in 1983. Since then, he has accum ...

Amazon is responsible for recalling hundreds of thousands of hazardous third-party products that were sold on the global e-commerce company's website, the U.S. Consumer Product Safety Commission (CPSC) announced Tuesday. The 400,000 products subject to recall due to being defective or not meeting federal consumer product safety standards include faulty carbon monoxide detectors, hairdryers without electrocution protection and children's sleepwear that did not meet flammability standards. "Amazon failed to n ...

Core Insights - Roche is accelerating the clinical development of its obesity drug portfolio to bring medications to market faster than expected, with potential availability by 2028 [1][4][7] - Hims & Hers Health Inc. has launched its own injectable weight-loss drugs at a lower price point compared to existing options like Ozempic and Wegovy [2][5] - The global obesity drug market is projected to exceed $100 billion by 2030, with potential growth up to $144 billion as applications expand beyond weight loss [6] Company Developments - Roche is fast-tracking its candidates in the weight-loss drug market, which is currently dominated by Novo Nordisk and Eli Lilly [7][14] - Pfizer is advancing its once-daily weight-loss pill, CT-388, into phase two trials after positive early-stage results, with participants losing significant body weight [10][12][13] Market Overview - The obesity drug market generated $6 billion in sales in 2023, indicating strong demand for weight-loss medications [8] - GLP-1 agonists, including semaglutide and tirzepatide, are key players in the market, known for their effectiveness in managing Type 2 diabetes and promoting weight loss [3][14]

McDonald's reported a surprise drop in sales and missed Wall Street estimates for quarterly profit on Monday, as the burger giant struggled to draw in cash-strapped customers opting to eat at home due to higher menu prices. Global sales fell 1% in the second quarter, its first decline in 13 quarters, compared with analysts' average estimate of a 0.53% rise, according to LSEG data.Persistent inflation has forced lower-income groups to shift to affordable food options at home, leading to fast food chains incl ...

Brand impostor scams are proliferating and one of its victims is Amazon.  In other words, experts say consumers should beware if a message alerts them that there is an issue with their Amazon Prime account, like if their membership has been paused due to a payment issue for instance. Amazon Prime scams are similar to impostor call center scams that have been plaguing consumers in the U.S. for a decade, Michael Bordash, senior vice president of research and development at communications technology company Sy ...

Kroger and Albertsons on Thursday agreed to temporarily pause their proposed $25 billion merger while regulators pursue legal challenges in an effort to block the deal. The two companies agreed to a temporary injunction that puts the merger on hold while a lawsuit filed by Colorado plays out. The move negates the need for a preliminary injunction hearing that had been scheduled to occur next month."The trial is set to begin on Sept. 30 and my office looks forward to making the case that this merger will eli ...