Business News

Blue Flame Restaurant closes its doors after 68 years in business

Posted on September 23, 2024 by arijoeam

JEFFERSON HILLS, Pa. (KDKA) – A local restaurant closed Sunday after remaining a staple in the Jefferson Hills community for decades.

Blue Flame Restaurant served customers for 68 years and leaves many memories behind.

Jessica George Elder worked her last shift at her family’s restaurant. It’s a place she’s been going to for 30 years since she was a baby.

“I’d get to see my dad all the time. My mom and I would come in,” Elder said.

Then, 17 years ago, he started working at the Jefferson Hills spot on and off.

“I always ended up coming back here

…

Shipping customers could see costly impacts, delays

Posted on September 22, 2024 by arijoeam

Customers from the East Coast to the Midwest who were expecting goods shipped in via the Port of Baltimore could see significant cost increases as a result of Tuesday’s collapse of the Francis Scott Key Bridge in Baltimore.

In a statement released after the bridge collapsed early Tuesday, the American Trucking Association estimated that 4,900 trucks per day carrying an annual average of $28 billion worth of goods would have to be rerouted — at a cost to shippers and ultimately consumers.

“The Key Bridge and Port of Baltimore are critical components of our nation’s infrastructure and supply chain,” the

…

Energy shares rise | Capital Market News

Posted on September 21, 2024 by arijoeam

Energy stocks were trading with gains, with the S&P BSE Energy index rising 173.04 points or 1.46% at 12011.67 at 09:41 IST.

Among the components of the S&P BSE Energy index, Aegis Logistics Ltd (up 4.37%), Chennai Petroleum Corporation Ltd (up 3.5%), Castrol India Ltd (up 2.95%), Reliance Industries Ltd (up 2.26%), Confidence Petroleum India Ltd (up 2.04%), were the top gainers. Among the other gainers were Ganesh Benzoplast Ltd (up 2%), IRM Energy Ltd (up 1.92%), Indian Oil Corporation Ltd (up 1.73%), Oil India Ltd (up 1.56%), and Petronet LNG Ltd (up 1.37% ).

On the other hand, Sanmit

…

Portsmouth’s new Brexit border post could be demolished | BusinessNews

Posted on September 20, 2024 by arijoeam

A new £24m border control post may have to be demolished because repeated changes to post-Brexit border arrangements have left it commercially unviable.

The facility at Portsmouth International Port is due to begin physical checks on food and plant imports from the EU at the end of next month, but changes to border protocols since it was built mean half of the building will never be used.

Built with a £17m central government grant and £7m from Portsmouth City Council, which owns the port, it is designed to carry out checks on up to 80 truck loads of produce a

…

Egan-Jones Backs Nelson Peltz In Disney Proxy Fight

Posted on September 17, 2024 by arijoeam

The advisory firm Egan-Jones is recommending Disney shareholders vote to add Nelson Peltz and Jay Rasulo to the studio’s board of directors.

The firm also backed Peltz’ Trian Partners in recommending shareholders withhold their votes for current Disney board members Michael BG Froman and Maria Elena Lagomasino. That follows Institutional Shareholder Services coming out as the first advisory firm to back Peltz in his proxy fight ahead of Disney shareholder casting votes at the company’s annual meeting on April 3.

“We see very little downside and a lot of upsides in putting the Trian nominees on the board,” Egan-Jones said

…

JD Wetherspoon aims for 1,000 UK pubs as profits soar | BusinessNews

Posted on September 16, 2024 by arijoeam

JD Wetherspoon hopes to soon open its 1,000th pub in the UK after reporting another leap in profits.

The chain currently has more than 800 branches but says its “best estimate” is the potential for around 200 more in the coming years.

It comes as the pub giant revealed that its pre-tax profits soared to £36m in the six months to the end of January – up eightfold from the £4.6m it made during the same period the year before.

Bar sales increased by 11.6%, while food sales grew by 7.6%.

The total number of Wetherspoon pubs peaked at 955

…

Amex GBT buys rival CWT in $570m deal

Posted on September 14, 2024 by arijoeam

American Express Global Business Travel is to acquire major rival CWT in a deal worth $570 million after the boards of both companies approved the transaction.

Amex GBT said that the deal would provide CWT’s customers with “more choice and value”, as well as leading to “greater capacity for investment in software and services”.

Paul Abbott, Amex GBT’s CEO, said: “Bringing CWT onto the proven Amex GBT software and services model will create more choice for customers, more opportunities for people and more value for shareholders.”

The deal will see two of the world’s largest travel management companies come together.

…

Bob Iger’s Invincible Era Is Over

Posted on June 23, 2024 by arijoeam

If Bob Iger were a Marvel superhero, his power would be persuasion. The Disney CEO has long leaned on his ability to convince others of his plans. From film and TV writers, directors and stars, to Disney shareholders, to the company’s own board members, Iger’s track record has been impeccable.

Consider possibly the most important deal he ever led: Disney’s $4 billion acquisition of Marvel Entertainment in 2009. While Marvel’s success since then is not in dispute, at the time the idea of Disney chasing young men via the comic book brand was seen as a real risk. In his

…