Red Lobster Files for Bankruptcy

The largest seafood restaurant chain in the U.S. will sell its business to an entity formed and controlled by its existing term lenders. 


 
Neuralink Gets FDA Green Light for Second Patient

Elon Musk-backed startup has proposed solutions for a thread pullout problem experienced by its first participant, Noland Arbaugh. 


 
Li Auto Profit Fell on Higher Operating Expenses

The Chinese electric-vehicle maker forecast rising demand for its vehicles in the second quarter after its first-quarter profit was hurt by a steep rise in research and other operating expenses that offset higher sales. 


 
Overseas Shipholding to Be Acquired by Saltchuk in $950 Million Deal

The deal has been unanimously approved by the boards of both companies and is expected to close in the next few months. 


 
Star Entertainment Gets Bid Interest, Says No Substantive Talks So Far

The Australian casino operator said it has received approaches about potential deals, including one from a consortium that includes a local partner of Hard Rock Hotels and Casinos. 


 
An Nvidia Co-Founder's Latest Bet: Making 'Quantum Valley' in New York

Curtis Priem is donating more than $75 million to help Rensselaer Polytechnic Institute become a hub for a cutting-edge technology. 


 
Dimon Led Bank CEOs to Fend Off Tougher Capital Rules

Regulators discuss slashing proposed capital requirements in sign of banks' increasing clout. 


 
Facebook Parent's Plan to Win AI Race: Give Its Tech Away Free

Meta Platforms CEO Mark Zuckerberg has trained his "Eye of Sauron" on its artificial-intelligence strategy, which comes with risks. 


 
The Properties High Interest Rates Can't Touch

Competition to buy the world's most exclusive stores is intense despite modest rent growth. 


 
A Deck Maker's $450 Million Bet on America's Renovation Boom

Trex is building a factory in Arkansas to boost its manufacturing capacity, and it is rolling out new lines of premium decking.


(END) Dow Jones Newswires

05-20-24 0915ET