A TGI Fridays restaurant in New York City. Scott Mlyn | CNBC T.G.I. Friday’s is going public again. The casual dining chain is planning on merging with Allegro Merger, a special purpose acquisition company with ties to investment firm Crescendo Partners, the two companies announced Friday. Special purpose acquisition companies have no assets but use the
Business
PHILADELPHIA – Former NBA Commissioner David Stern says the league’s ban on marijuana is outdated and should be reconsidered in the next collective bargaining agreement. “I think it’s time to take a whole new look at it,” Stern, 77, said in an interview with CNBC at the SeventySix Capital Sports Innovation Conference in Philadelphia on
Workers load goods for export onto a crane at a port in Lianyungang, Jiangsu province, China June 7, 2019. Reuters China’s exports and imports beat forecasts in October, Reuters reported citing data from the country’s customs. In dollar terms, exports fell 0.9% while imports fell 6.4% from a year ago in October. Trade balance for
Gap Inc. shares tumbled in extended trading Thursday after the company said CEO Art Peck will be stepping down, effective immediately. Gap didn’t provide any additional details as to why Peck is leaving, after serving as CEO since 2015 and working at Gap for almost 15 years. The clothing retailer also slashed its profit outlook for
U.S. and European regulators have asked Boeing to revise documentation on its proposed 737 Max software fix, the planemaker confirmed Wednesday, further complicating its efforts to return the jet to service by year-end. The world’s largest planemaker had submitted documentation in a key part of an approval process, already delayed by months, for a 737