Commercial real estate flounders as housing market booms

The housing market is red hot thanks to record-low mortgage rates and consumers looking to flee cities for the suburbs. But offices, shopping malls and other commercial real estate properties have been hit hard by the coronavirus pandemic. The rise of Zoom, Slack and other productivity tools has made it easier for people to set…MORE

Chicken wings are hot. Big restaurant chains are paying attention

America’s love for chicken wings has only grown during the pandemic. And big restaurant chains from Applebee’s to Domino’s want in. Shares of Wingstop, a chicken wing chain with nearly 1,300 restaurants nationwide and roughly 160 locations abroad, have popped nearly 60% this year. Morningstar restaurant analyst R.J. Hottovy said in a report last week…MORE

Chinese tycoon who criticized Xi Jinping’s handling of coronavirus jailed for 18 years

A Chinese billionaire who criticized President Xi Jinping’s handling of the coronavirus pandemic has been jailed for 18 years on corruption charges, a court said Tuesday. Ren Zhiqiang, a retired real-estate tycoon with close ties to senior Chinese officials, disappeared in March after he allegedly penned a scathing essay that month criticizing Xi’s response to…MORE

Sizzler, one of America’s first steakhouse chains, files for bankruptcy

Sizzler USA, one of the country’s first casual restaurant chains, has filed for bankruptcy. The 62-year-old company said it filed for Chapter 11 because of Covid-19, which forced it to temporarily close its restaurants’ dining rooms. Sizzler USA also had problems paying rent. The filing is only for Sizzler’s 14 company-owned restaurants — not its…MORE

Why Tesla’s Battery Day is a big event for investors

The meteoric rise of Tesla’s stock has been one of the market’s top stories of 2020, highlighting a voracious appetite for high-growth companies that could benefit from a shift away from fossil fuels. But for Tesla to maintain its edge in the increasingly competitive world of electric vehicle production, it will need to keep innovating.…MORE

Chipotle brings back its most popular new menu item

Chipotle is bringing carne asada back to its menu following a half-year hiatus. The marinated steak option, which appeared on Chipotle’s menu for about four months starting in September 2019, will once again be available in the United States for a limited time. Carne asada was so popular with customers that the chain ran out…MORE

Coronavirus cancels pumpkin spice at this restaurant chain

It seems even pumpkin spice isn’t safe from the coronavirus. The restaurant chain Einstein Bros. Bagels is the latest victim of the pandemic. This fall, they will not be offering any pumpkin spice seasonal items. “Unfortunately we will not be offering pumpkin products this year,” Einstein Bros said in a statement to CNN. “With COVID-19,…MORE

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