Money

Hedge fund Alden Global Capital will acquire the rest of what it does not already own of Tribune Publishing, owner of the Chicago Tribune, the New York Daily News and other local newspapers, in a deal valued at $630 million. The Chicago Tribune was first to report the news of the merger agreement. The acquisition

McLaren unveiled the Artura on Tuesday, a new hybrid supercar that is, relatively speaking, much more affordable than the British company’s previous hybrid models. McLaren’s other hybrid cars have been limited production hypercars, like the $2 million Speedtail and the $1 million P1. With a price tag of $225,000 in the US, the Artura is

The Trump Plaza Hotel and Casino in Atlantic City has been demolished, ending a nearly 40-year run at the New Jersey shore. Trump Plaza opened in 1984 and was once a key aspect of former President Donald Trump’s sprawling real estate portfolio. The casino was shuttered in 2014, and the building has since fallen into

A version of this article first appeared in the “Reliable Sources” newsletter. You can sign up for free right here. “Gut punch.” That’s what Daniela Altimari wrote in reaction to Tuesday’s news that Alden Global Capital, a widely feared hedge fund, is buying the rest of Tribune Publishing and taking the newspaper owner private. Altimari

Investors have been dumping shares in Chinese drone maker EHang, after a short-seller accused the US-listed company of fraud. Shares of the Nasdaq-listed firm plummeted nearly 63% in New York on Tuesday after Wolfpack Research released a scathing, detailed report questioning EHang’s business. The stock trimmed its losses Wednesday, bouncing 35% higher to about $62

On Thursday, the US House Financial Services Committee will grill the chief executives of Robinhood and other companies involved in last month’s GameStop stock rally. The hearing is being driven by concerns in Washington about the fundamental fairness of the modern market. The trading frenzy shined a bright light on the free trading boom set

New York is taking Amazon to court over claims that the company has failed to provide sufficient protections for its workers during the Covid-19 pandemic. In the complaint filed in state court Tuesday, New York Attorney General Letitia James argued that Amazon violated labor law with its “deficient” response to the pandemic. The lawsuit claims

The Trump Plaza Hotel and Casino in Atlantic City has been demolished, ending a nearly 40-year run at the New Jersey shore. Trump Plaza opened in 1984 and was once a key aspect of former President Donald Trump’s sprawling real estate portfolio. The casino was shuttered in 2014, and the building has since fallen into

Wendy’s is heating up the fried chicken sandwich wars — quite literally this time. The newest entrant into the poultry clash is a Jalapeño Popper Sandwich, a spicy spin on the classic. The $5.99 sandwich, which was released Wednesday, is covered in jalapeños including in a flavored cream cheese spread plus six slices of the

Investors are dumping shares in Chinese drone maker EHang, after a short-seller accused the US-listed company of fraud. Shares of the Nasdaq-listed firm plummeted nearly 63% in New York on Tuesday after Wolfpack Research released a scathing, detailed report questioning EHang’s business. EHang has slammed the report as “deceptive.” In a statement Tuesday, the company

Applebee’s is launching a new online-only brand. The main menu item? Cheeto-flavored wings. Customers can start ordering from Cosmic Wings, which is available through Uber Eats, on Wednesday. On the menu: wings with two exclusive Cheetos sauces, original and Flamin’ Hot, plus cheese bites, chicken tender dippers, waffle fries and onion rings. The brand will

Americans are spending less on their credit cards since the pandemic started. But, unlike other economic data points that are inching towards recovery, such as retail sales or the unemployment rate, credit card spending remains in decline. Consumer spending is the backbone of the US economy and accounts for some two-thirds of economic activity. So

Retail sales increased sharply last month, the Commerce Department said Wednesday, beating economists’ expectations and marking their first increase since September. Sales grew 5.3% in January from the prior month on a seasonally adjusted basis. That’s the largest monthly increase since June, when the sector was rebounding from the spring’s pandemic lockdown. America’s economy runs

After committing one of the “biggest blunders in banking history,” Citibank won’t be allowed to recover the almost half a billion dollars it accidentally wired to Revlon’s lenders, a US District Court judge ruled. Citibank, which was acting as Revlon’s loan agent, meant to send about $8 million in interest payments to the cosmetic company’s

CNN is making a series of programming changes in April, starting with a move to the mornings by Brianna Keilar. The new schedule was announced on Wednesday morning. Keilar, who currently anchors from 1 to 3 p.m. Eastern, will join John Berman on the network’s flagship morning show, “New Day.” Weekend anchor Ana Cabrera will

Early in the pandemic, Jane Cox Childress brought her teenage son warm cookies at his desk during a remote learning session. She received a text message in response: “Mom, could you please not bring me anything when I’m in class?” Childress said she “learned quickly to be more respectful when he was in class.” After

Many investors are increasingly hesitant to hold shares of oil and gas companies as a global energy transition gathers steam. Not Warren Buffett. What’s happening: Buffett’s Berkshire Hathaway just disclosed a new stake in Chevron, the second largest oil firm in the United States. The $4.1 billion investment could have been spearheaded by Berkshire investment

Burger King doesn’t want to come out a loser in fast food’s chicken sandwich wars. So it’s planning an upgrade. The chain said Wednesday that it is replacing its current crispy chicken sandwich with a new, hand-breaded version. The new product, which comes in original or spicy, is made with a savory signature sauce and

Nestlé will sell its North American bottled water business, including Poland Spring, Deer Park, Ozarka and Arrowhead, in a $4.3 billion deal as it focuses on its premium brands. The Swiss consumer goods giant said in a statement on Wednesday that it has agreed to sell the brands to private equity firm One Rock Capital

Jeff Bezos has reclaimed his title of world’s richest person, ending Elon Musk’s roughly six-week reign atop the list. Musk lost about $4.5 billion Tuesday after Tesla shares fell 2.4%, which was enough to knock him to second place on the Bloomberg Billionaires Index ranking. Bezos’ net worth also fell as the broader stock market