Roark Capital Acquires Majority Stake in Dave’s Hot Chicken Amid $1 Billion Valuation Surge

Private equity giant Roark Capital has acquired a majority stake in the fast-growing restaurant chain Dave’s Hot Chicken. Although the financial terms were not formally disclosed, CEO Bill Phelps indicated that the valuation, reportedly around $1 billion, is “pretty close.” Founded in 2017 in a Los Angeles parking lot, Dave’s has experienced rapid growth, expanding…

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Trump Administration Blocks Michigan Coal Plant Shutdown, Fueling Costly Clash Over Clean Energy Future

In a surprise move, the Trump administration blocked the scheduled closure of Michigan’s 63-year-old J.H. Campbell coal plant, citing concerns over grid reliability due to increased reliance on renewable energy. Energy Secretary Chris Wright issued an emergency order forcing the plant to remain operational for at least three more months. This decision overturned the plans…

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Wall Street Cools After May Rally as Tariff Fears and Trade Tensions Weigh on June Outlook

U.S. stock futures declined on Sunday evening, signaling a potentially cautious start to June after a strong performance in May. Futures tied to major indexes like the S&P 500, Nasdaq-100, and Dow Jones Industrial Average were down around 0.3%, with the Dow falling 108 points. Despite the upbeat finish to last month, investors appear to…

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NAACP Urges Shutdown of Musk’s Colossus Over Health Risks to South Memphis Residents

The NAACP has urged local regulators to stop Elon Musk’s supercomputer project, Colossus, from operating in South Memphis, citing violations of environmental regulations. In a letter sent Thursday, the organization addressed its concerns to Dr. Michelle Taylor, director of the Shelby County Health Department, and to officials at Memphis Light Gas and Water. The NAACP…

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Google Challenges Antitrust Ruling as DOJ Pushes Broader Reforms in Search Monopoly Fight

Alphabet’s Google announced on Saturday that it will appeal a recent antitrust ruling that proposed less stringent measures to address its online search dominance. The company expressed confidence that the original decision against it was incorrect and is awaiting the court’s formal opinion. Google’s appeal aims to challenge a federal judge’s less aggressive remedies compared…

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Trump-Era Regulators Push to Loosen Bank Capital Rules, Sparking Debate Over Financial Stability

The Trump administration, through its appointed financial regulators, is preparing a proposal to ease key capital rules for the nation’s largest banks. This initiative would reduce the capital cushion that megabanks are required to maintain under post-2008 financial crisis regulations. The plan is being crafted by the Federal Reserve, the Office of the Comptroller of…

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Salmonella Outbreak Linked to Recalled Cucumbers Sparks Hospitalizations Across 18 States and Cruise Ships

A salmonella outbreak connected to recalled cucumbers has sickened nearly four dozen people across 18 U.S. states, according to federal health officials. The contaminated cucumbers were distributed to a wide range of locations, including grocery stores like Target, as well as hospitals, restaurants, and cruise ships. The cucumbers in question were produced by Bedner Growers…

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SEC Drops Binance Lawsuit as Trump-Era Crypto Shift Spurs Global Expansion and Political Ties

The U.S. Securities and Exchange Commission (SEC) has officially dismissed its high-profile lawsuit against Binance and its founder, Changpeng Zhao. This legal action, initiated in June 2023, accused the crypto exchange of multiple violations, such as offering services to U.S. users without authorization, inflating trading volumes, and commingling customer funds. The SEC also alleged that…

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Boeing Reignites China Deliveries as Ortberg Targets Max Jet Growth and Tariff Recovery

Boeing’s CEO Kelly Ortberg announced that the company will resume airplane deliveries to China starting next month after a pause caused by trade tensions under the Trump administration. Previously, China had halted deliveries amid the ongoing trade war, but now the country has indicated it will accept new aircraft again. This development is significant for…

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Gap Navigates Tariff Threats and Global Trade Shifts While Outperforming Earnings Expectations

Gap Inc. warned that new tariffs imposed by the U.S. government could impact its business by $100 million to $150 million if they remain in effect through the year. These tariffs include a 30% duty on Chinese imports and a 10% levy on goods from most other countries. Initially, the cost without mitigation efforts would…

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