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Red Lobster bought a lot of shrimp from its Thai owner. Now, the new CEO is investigating.

Red Lobster's unlimited shrimp promotion cost the company millions.Hollis Johnson/Business InsiderRed Lobster filed for Chapter 11 bankruptcy after suffering significant financial losses.CEO Jonathan Tibus questioned the company's purchasing processes, including from owner Thai Union.The $20 unlimited shrimp promotion led to millions in losses and strained...

Tue May 21, 2024 17:02
Jamie Dimon might finally be ready to call it quits

AP Photo/Alex Brandon; iStock; Rebecca Zisser/BIThis post originally appeared in the Insider Today newsletter.You can sign up for Business Insider's daily newsletter here.Hello! If you had a billion dollars, you'd probably buy a few silly things. (For me, it's a ski mountain.) But what about a boat designed specifically for Navy SEAL missions and a...

Tue May 21, 2024 17:02
Ukraine says it may have destroyed Russia's last cruise missile carrier based out of Crimea

A satellite image shows smoke billowing from the port of Sevastopol, Crimea, September 22, 2023. Used for illustration purposes.PLANET LABS PBC/Handout via REUTERSUkraine's navy is trying to verify whether it destroyed the Tsiklon, a Russian missile carrier.If confirmed, it would mean Russia has no more missile carriers in Crimea, a naval spokesperson...

Tue May 21, 2024 17:02
A woman who won a free Virgin Voyages cruise said she would have to spend $8,000 on flights to claim the prize

A Virgin Voyages cruise ship.UCG/Getty ImagesAn Australian woman who won a cruise said she would have to pay thousands of dollars to redeem it.Her Virgin Voyages cruise was canceled due to Red Sea tensions, forcing her to rebook.The cruise line offered Europe or Caribbean trips, but she said flights were too expensive.An Australian woman who won a Virgin...

Tue May 21, 2024 17:02
Saudi Arabia snubbed Boeing with a huge Airbus order, the biggest aircraft deal in the country's history

Saudia and Airbus announced the order on Monday.Courtesy of SaudiaThe Saudia Group announced an order for 105 Airbus jets on Monday.It comes as a reported Boeing order from Riyadh Air, also government-owned, has yet to materialize.Its CEO blamed negative media coverage as to why he hasn't yet announced the deal.The Saudia Group announced Monday a huge...

Tue May 21, 2024 17:02
America's highest-earning CEO was awarded a staggering $162 million last year — but there's a catch

Broadcom CEO Hock Tan.Ying Tang/NurPhoto via Getty ImagesBroadcom boss Hock Tan is the highest-earning CEO in the US, per a Wall Street Journal analysis.But Tan has to fulfill certain criteria to get his full $162 million pay package.Palo Alto Networks' Nikesh Arora and Blackstone's Steve Schwarzman also have nine-figure compensation packages.America's...

Tue May 21, 2024 17:02

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