Business

Restaurant bankruptcy filings have surged so far this year, echoing a broader rise in corporate bankruptcies across sectors. At least 10 restaurant chains, not including multi-unit franchisees, have filed for bankruptcy in 2024. August alone brought three Chapter 11 filings from notable eateries. The increase in bankruptcies comes as diners pull back their spending, labor costs keep rising and Covid-era government help disappears.

Federal Reserve officials will get the latest look at their favorite inflation indicator Friday, a data snapshot that could influence the September rate decision even as policymakers appear to have their focus elsewhere these days. The Commerce Department at 8:30 a.m. ET will release its personal consumption expenditures price index, a sprawling measure of what consumers are paying for a variety of goods and services as well as their spending preferences.

Weeks after a strike authorization vote, union hotel workers at Baltimore’s downtown Hilton hotel could not reach an agreement with the company before their contract’s end Thursday. According to Unite Here Local 7 President Tracy Lingo, “without a deal that works for everybody, a strike is possible at any time.”

Paul Benkert has seen that famous scene in “The Bear,” where the ticket machine goes haywire with orders and the staff at Chef Carmy’s Chicago beef shop find themselves on the hook for 78 slices of chocolate cake, 99 french fries, 54 chickens, 38 salads and 255 beef sandwiches — all set for pickup in the next eight minutes.

Dollar General shares tumbled on Thursday after the discount retailer slashed its sales and profit guidance for the full year, suggesting its lower-income customers are struggling in this economy. Shares of the retailer which caters to more rural areas tumbled 20% in premarket trading following the earnings report.

An inflation-fueled sales slump hit the toy industry in the first half of 2024, but one company is gaining market share brick by brick. On Wednesday, Lego said revenue during the first six months of the year jumped 13%, reaching 31 billion Danish krone, or about $4.65 billion. Niels Christiansen, CEO of the privately held Danish toymaker, told CNBC that the company is seeing strength across its portfolio, especially with Lego Icons and Lego Creator, and through its partnership with Epic Games’ Fortnite.

There’s a new name for the former FedEx Field in Landover, Maryland, after the Washington Commanders struck a naming rights deal with Northwest Federal Credit Union. The field will now be called Northwest Stadium. The Commanders and the credit union announced “a new, multi-year, exclusive naming-rights agreement” on Tuesday.