Renault, Peugeot and Citroen have significantly scaled down their local operations in recent years. The revised subsidy policy the French government released for electric vehicles this week, coupled with the anti-subsidy probe of China-made EVs the EU announced last week, will leave the three French brands with literally no choice but to exit China.
Sales at Orlando-based Darden Restaurants grew in the quarter ending Aug. 27, but its fine-dining business continued to weaken compared with last year.
Total sales improved 11.6% to $2.7 billion in the quarter, a figure that included the addition of 77 company-owned Ruth’s Chris Steak House restaurants after Darden acquired the brand in June.
Same-restaurant sales, without Ruth’s Chris, were up 5% for the company, but Darden’s other fine-dining brands saw a same-restaurant sales decrease of 2.8%. Those restaurants also experienced a dip last quarter when compared to the previous year.
Darden owns 1,998 restaurants, including Olive Garden, fine-dining restaurants Ruth’s Chris, Eddie V’s and The Capital Grille.
“We are seeing a little softness versus last year with household incomes above $125,000 and that primarily affects our fine-dining brands, but it does affect all of our brands,” CEO Rick Cardenas said on a Thursday morning call.
Darden executives have pointed out the fine-dining business is being compared to last year when business was stronger.
Most major dealerships improved response times, but Ken Garff Automotive Group made the biggest gains.
By Funto Omojola | NerdWallet
Buying a car in the current auto market remains more difficult and expensive than it was pre-pandemic. Although some aspects of the industry are beginning to recover, sky-high car prices and soaring interest rates persist.
Within this still turbulent market, buying a car can be even more challenging for minority consumers due to discriminatory practices that have plagued the car industry historically and continue to affect buyers.
For example, the 2021 Racial Discrimination in the Auto Loan Market report from the Consumer Financial Protection Bureau (CFPB) showed that Black and Latino consumers are more likely to be charged higher interest rates and have lower loan approval rates even when they have similar or better credit than their white counterparts. And similar forms of discrimination can occur during other parts of the car-buying process.
“Buying, paying for and owning a car is riddled with structural racism,” says Erin E. Witte, director of consumer protection for the Consumer Federation of America. “There has been research about almost every aspect of auto ownership showing that it is more expensive for consumers of color.”
By DAVID BAUDER (AP Media Writer)
NEW YORK (AP) — Magnate Rupert Murdoch’s surprise announcement Thursday that he’s stepping down as leader of his two companies leaves his son Lachlan firmly in line of succession at Fox and the rest of the media empire.
The 92-year-old Australian billionaire’s creation of Fox News Channel has made him an enduring force in American politics. He inherited a newspaper in Adelaide, Australia, from his father in 1952 and eventually built a news and entertainment enterprise dominant in the United States and Britain.
Fox said Murdoch would become chairman emeritus of both the news network’s parent company, Fox Corp., and the News Corp. media holdings, effective in November. Lachlan will become News Corp. chairman and continue as chief executive officer of Fox Corp.
Lachlan Murdoch said that “we are grateful that he will serve as chairman emeritus and know he will continue to provide valued counsel.”
Fox News Channel has profoundly influenced television and national politics since its start in 1996, making Murdoch a hero to some and pariah to others. The 24-hour network converted the power and energy of political talk radio to television. Within six years, it outrated CNN and MSNBC, and still does.