In 2024, the restaurant industry faced a challenging year with closures of underperforming locations as chains sought to improve sales. Consumer spending on dining out decreased due to inflation, leading to a decline in overall restaurant visits and a surge in bankruptcies, with 26 restaurant companies filing for Chapter 11 protection. Casual-dining chains, in particular, struggled to attract customers as fast-casual chains gained popularity, impacting the industry’s landscape significantly.
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EU fines Apple and Meta total of €700mn for antitrust violations
The EU has fined Apple €500 million and Meta €200 million for antitrust violations, while avoiding larger penalties to prevent escalating tensions with the US. Apple must revise its App Store rules, and Meta is required to change its "pay or consent" model that forces users to either consent to data tracking or pay for an ad-free experience. Despite the fines being significantly below the potential maximums under the Digital Markets Act, the EU aims...
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