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- Mortgage rates show signs of falling after Iran war peak
Major lenders make rate reductions as markets take some heart from a possible truce in the Iran war. [TheTopNews] Read More.52 mins ago - ‘I’m the lucky one’ – more than one in three young men n...Last year, the highest proportion of men aged 20-34 were still living at home since at least 2007 as the rising cost of living takes hold. [TheTopNews] Read More.1 hour ago
- Strait of Hormuz Is Open During Cease-Fire in Lebanon, U.S. and Iran Say
Statements from President Trump and Iran aimed to raise confidence in the safety of the waterway, but shipping experts said risks remained. [TheTopNews] Read More.3 hours ago - Mississippi Liquor Stores Run Dry Amid State Distribution DelaysThe state liquor agency has been struggling to make timely deliveries to restaurants, bars and liquor stores since it got rid of outdated conveyor belts at a warehouse in January. [TheTopNews] Read More.3 hours ago
- Shopping TV empire behind QVC, HSN files for bankruptcy amid mounting losses
The parent company behind the well-known shopping channels QVC and HSN has filed for Chapter 11 bankruptcy. QVC Group, which filed in the U.S. Bankruptcy Court for the Southern District of Texas, announced the filing in a press release Thursday, saying the company will undergo a Restructuring Support Agreement (RSA) to reduce its debt from $6.6 billion to $1.3 billion.The goal of the RSA is to emerge from bankruptcy within 90 days. "The Company has ample liquidity to support the business and, importantly, the terms of the RSA provide for vendors, suppliers and all other general unsecured creditors of the filing entities to be paid in full for all goods and services," the press release reads.STEAK AND SEAFOOD CHAIN 801 RESTAURANT GROUP FILES FOR BANKRUPTCY AFTER CLOSING DENVER, MINNEAPOLIS SPOTSDuring this time, QVC Group plans for all of its businesses to operate as normal, with no planned layoffs or furloughs as it continues to evaluate its finances.Both QVC, which stands for Quality, Value and Convenience, and HSN, or the Home Shopping Network, have been late-night staples on cable television, although with the popularity of shopping through social media and other technology, the company has acknowledged needing to change its business model.David Rawlinson, president and chief executive officer of QVC Group, said in the press release he is confident in the company’s ability to recover from the current setback based on the progress it has seen so far.SPIRIT AIRLINES REACHES DEAL TO EXIT BANKRUPTCY PROCEEDINGS BY EARLY SUMMER"QVC Group is uniquely positioned to compete and win in live social shopping, and we are seeing early momentum in our WIN Growth Strategy," he said. "Over the past year, we have become a top seller on TikTok Shop U.S. while expanding our business on streaming and other platforms. We have consolidated our HSN and QVC operations, struck new deals with critical social and media partners, and rebalanced sourcing to account for the changing tariff environment."GET FOX BUSINESS ON THE GO"With the support of our lenders and a more appropriate capital structure, we believe we can deliver on our WIN Growth Strategy," Rawlinson added.QVC was purchased by billionaire John Malone in 2003 for $7.9 billion. The brand later acquired HSN in 2017 for $2.1 billion. [TheTopNews] Read More.3 hours ago - LARRY KUDLOW: Stocks Melt Up, While President Trump Marches to VictoryMore good news on President Trump winning the war and the growing likelihood that some kind of agreement will be made with Iran. It’s driving the stock market sky-high. My guess is improving the animal spirits of all Americans who know the cause to destroy Iran is just but were concerned how difficult it might be.I continue to call this the Trump miracle. I continue to believe it is providential. Ending the most gruesome government since the Nazis of World War II. It’s such a phenomenal boon to mankind in the cause of peace, freedom and prosperity.Mr. Trump has unwaveringly delivered on his vision to end the 47-year forever war, to do what no other president in either party quite had the backbone to do.Mr. Trump, talking to various press organizations, has said a number of things of great importance today.He has said Iran has agreed to everything and will work with the United States to remove enriched uranium from Iran. "Our people, together with the Iranians are going to work together to go get it. And then we’ll take it to the United States," he said.The president also said Iran has agreed to stop backing proxy terrorist groups, like Hezbollah and Hamas. When asked when he would be announcing the deal, Mr. Trump said the two sides are meeting this weekend and that America would continue its blockade "until we get it done."Of course, trust, but verify.Especially with Iranians. Mr. Trump knows that.And even as Iran is suggesting that the Strait of Hormuz will be opened, Mr. Trump is exactly right to maintain the embargo on Iranian ports and shipping.That embargo is such a powerful weapon. It will bankrupt the government, and starve them out of power if left in place for a bunch of weeks ahead.And I hope that is what the president does. Keep the embargo. Because we don’t know about Iranian promises. We do not trust them.And we want to make sure that they are in no position to make any demands in whatever negotiations or agreements take place.We’re talking unconditional surrender. They must do what Mr. Trump and his national security team tells them to do.Mr. Trump made another point today, that there will be no need to involve American ground troops.Now for a transfer of enriched uranium from Iranian hands to American hands, yes there will be some military people.Yet the key point here, and I… [TheTopNews] Read More.3 hours ago
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