NEW YORK — Denny’s is closing 150 restaurants over the next year, and the 71-year-old diner chain is mulling a major change to its 24/7 operating hours.
Fifty locations are set to close by the end of 2024, while the remaining 100 will shutter in 2025, Denny’s announced in an earnings call Tuesday. That amounts to a tenth of its restaurants, leaving 1,375 locations once completed. A specific list of closing restaurants wasn’t immediately announced.
Denny’s is targeting “underperforming restaurants” that are weighing down the company’s financial performance, according to Steve Dunn, Denny’s executive vice president and chief global development officer. The affected locations are either too old to be remodeled or in areas that have become unprofitable.
The chain, best known for never closing its doors, is also making a major concession with its franchisees over the requirement of remaining open 24/7. Since the pandemic, about a quarter of its restaurants have not returned to those around-the-clock hours, so Denny’s is easing up on the requirement for a franchise to do so.
Denny’s joins a broader trend of restaurants slashing hours since the pandemic. Major shifts in customer behavior, including earlier dinner times and drinking less alcohol late into the evenings, have held back a return to pre-pandemic patterns. Higher labor and food costs have also led restaurants to close earlier.
For Denny’s, Dunn admitted that 24/7 operating hours are a “contraction that happened for everyone” and that less foot traffic during those off hours means it “didn’t make sense” for a restaurant to remain open.
Other changes at Denny’s include a slimmed-down menu, with the number of options whittled down to 46 from 97. The chain also noticed that cash-strapped adults were increasingly ordering off its kid’s menu to save money.
Denny’s (DENN) shares dropped 17% Tuesday after earnings missed analysts’ expectations. The stock is down 50% for the year
IRS Announces Inflation-Adjusted Tax Brackets for 2025
On Tuesday, the Internal Revenue Service (IRS) revealed its new inflation-adjusted tax brackets for 2025, with income thresholds rising by approximately 2.8% from 2024. This marks the smallest increase in several years, a significant change from the larger adjustments seen during the pandemic years.
Each fall, the IRS adjusts tax brackets and other provisions to account for inflation, aiming to protect taxpayers from “bracket creep,” where inflation pushes workers into higher tax brackets without an actual increase in purchasing power. In recent years, bracket adjustments were larger, with increases of 7% in 2023 and 5.4% in 2024.
“Bracket creep occurs when inflation, rather than real income growth, pushes people into higher tax brackets or reduces the benefits of credits and deductions,” explained Tax Foundation economist Alex Durante in a blog post.
With inflation cooling to its lowest level in three years, the IRS has announced smaller adjustments for the coming tax year. For instance, the threshold for the 10% tax bracket for married couples filing jointly will rise to $23,850, a 2.8% increase from the 2024 level of $23,200.
New Standard Deduction for 2025
The standard deduction will also increase in 2025. For married couples filing jointly, the deduction will rise to $30,000, up 2.7% from this year’s $29,200. Single filers and married couples filing separately will see their deduction increase to $15,000 from $14,600.
The standard deduction reduces taxable income and is widely used by taxpayers, as it simplifies the filing process. For example, a married couple earning $100,000 could reduce their taxable income to $70,000 using the 2025 standard deduction. While itemizing deductions is an option, most taxpayers find the standard deduction more beneficial.
Understanding U.S. Tax Brackets
The U.S. tax system is progressive, meaning tax rates rise as income increases. However, many misunderstand that the top tax rate applies to their entire income, when in fact it only applies to earnings above specific thresholds.
For instance, a married couple earning more than $23,850 in 2025 (the 10% bracket’s upper limit) will pay 10% on their first $23,850 and 12% on income up to $96,950.
Capital Gains Tax Adjustments for 2025
Income thresholds for capital gains taxes are also adjusted for inflation. In 2025, taxpayers earning up to $48,350 (single) or $96,700 (married) will enjoy a 0% capital gains tax rate. Individuals earning between $48,350 and $533,400 will pay a 15% rate, while those earning above $533,400 will be taxed at 20%.
Married couples earning between $96,700 and $600,050 will pay 15%, with the 20% rate applying to those earning above $600,050.
Estate Tax and Gift Exclusion
In 2025, the federal estate tax exclusion will rise to $13.99 million, up from $13.61 million in 2024, allowing individuals to shield more assets from estate taxes. Additionally, the gift tax exclusion will increase to $19,000 per recipient, up from $18,000 in 2024.
Earned Income Tax Credit (EITC)
The EITC, a tax credit for low- to middle-income workers with children, will also adjust for inflation. In 2025, single filers can claim up to $649, a 2.7% increase from this year’s $632. Families with three or more children can claim a maximum of $8,046, up from $7,830 in 2024.
Unchanged Provisions for 2025
Some tax provisions will remain the same next year, including:
The $10,000 cap on state and local tax (SALT) deductions
The Child Tax Credit, which will remain at $2,000 with a refundable portion of $1,700
The Lifetime Learning Credit, which will phase out for single filers with income above $80,000 or married filers with income above $160,000.
These adjustments reflect cooling inflation and aim to ensure that taxpayers are not unfairly burdened as the economy stabilizes.
The US Centers for Disease Control and Prevention issued a food safety alert Tuesday regarding an E. coli outbreak that it says is linked with McDonald’s Quarter Pounders.
At least 49 illnesses have been reported across 10 states, including one death of an older person. Ten people have been hospitalized, including a child who had hemolytic uremic syndrome, a serious complication that can develop from an E. coli infection. Most of the illnesses are in Colorado and Nebraska.
Most of the people who became ill reported eating McDonald’s Quarter Pounder sandwiches, the CDC says.
Hyoung Chang/Denver Post/Getty Images via CNN Newsource
The agency says the investigation is “fast-moving” but has not identified a specific ingredient. However, investigators are focusing on two ingredients: slivered onions and beef patties. According to the agency, the beef patties are used just for the Quarter Pounders, and the onions are used primarily for the Quarter Pounder and not other items.
McDonald’s said in a statement that the initial investigation findings linked the ingredients to “a single supplier that serves three distribution centers.”
“We are working in close partnership with our suppliers to replenish supply for the Quarter Pounder in the coming weeks (timing will vary by local market),” it said. “In the meantime, all other menu items, including other beef products (including the Cheeseburger, Hamburger, Big Mac, McDouble and the Double Cheeseburger) are unaffected and available.”
According to the CDC, McDonald’s has removed the ingredients from stores in Colorado, Iowa, Kansas, Missouri, Montana, Nebraska, Oregon, Utah, Wisconsin and Wyoming. In other states, Quarter Pounder burgers may not be available.
However, the CDC also notes that the outbreak may go beyond those states.
People with E. coli infections may have symptoms including severe stomach cramps, diarrhea, fever and vomiting. Symptoms of infection usually begin three or four days after swallowing the bacteria. Although most people who become ill recover without treatment within a week, others can develop serious kidney problems and require hospitalization.
Anyone who becomes ill after eating a McDonald’s Quarter Pounder should get medical attention and tell the provider what they ate, the CDC says.
McDonald’s said in its statement that “serving customers safely in every single restaurant, each and every day, is our top priority” and that it will continue working with the CDC on the investigation.
McDonald’s stock price dropped precipitously in after-hours trading as news of the outbreak broke.
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Police in Canada are investigating the death of a 19-year-old Walmart employee who was found inside a store’s walk-in bakery oven. Officers responded to the Walmart in Halifax, Nova Scotia, on Saturday night after the employee was discovered, according to Halifax Regional Police.
The woman, an employee of the store, was located in a large walk-in oven in the bakery department, police said. Investigators are working with Occupational Health and Safety and the Nova Scotia Medical Examiner Service. As of Tuesday, the cause and manner of death have not been determined, and police described the investigation as “complex.”
Walmart has closed the store on Mumford Road in Halifax while the investigation continues. A company spokesperson expressed their heartbreak and support for the employee’s family. Walmart is providing on-site support for employees, including grief counseling and access to virtual care.
The Nova Scotia Department of Labour, Skills and Immigration has issued a stop work order for the bakery and a specific piece of equipment at the store. They noted that workplace investigations are often complex and take time.
Surgery schedules around the country may be washed out for several more weeks while a crucial IV and sterile fluids factory remains shut down for hurricane-related damage.
People often plan non-emergency surgeries in the fall and early-winter months when their insurance coverage will pick up more of the bill, but they may have to wait while health systems preserve supplies for emergencies.
“It’s not great for patients, but it’s kind of doing the most good with what you have,” said Erin Fox, associate chief pharmacy officer at University of Utah Health.
The federal government and medical suppliers have taken several steps to help ease the supply crunch created by Hurricane Helene,which forced Baxter International to close its North Carolina plant late last month.
But experts say supplies are still choppy, and improvements will take time. Here’s a closer look the situation.
Baxter’s North Cove, North Carolina, location makes about 60% of the intravenous solutions used in the U.S. every day, according to the American Hospital Association. It also makes fluids used by patients on home dialysis and sterile water used to clean patient surgery sites during operations.
But flooding triggered by the storm washed out bridges nearby and water came into the factory, forcing the shutdown. Baxter says the site sustained no structural damage.
Health systems started conserving fluids shortly after the plant shut down. Some switched patients who can drink fluids to Gatorade or water instead of giving them an IV.
Hospitals also have started postponing planned procedures that can wait, like some orthopedic surgeries or heart procedures, said Dr. Chris DeRienzo, chief physician executive for the American Hospital Association.
Baxter has limited the fluids supplies it sends to distributors and health systems. The impact on a patient will depend partly on how heavily a hospital or health system relies on Baxter, said Nancy Foster, a vice president with the hospital association.
The U.S. Food and Drug Administration has approved temporarily importing fluids from Baxter plants in several countries.
The company also has already started easing some of the limits it had placed on supplies.
Baxter rival B. Braun Medical has increased production at its Daytona Beach, Florida, site, which escaped damage from another hurricane, and at a location in California.
The FDA also issued new temporary guidelines designed to make it easier for compounding pharmacies to produce certain IV drugs that are in short supply.
Supply experts are optimistic that the situation will improve, but they can’t say whether these moves will fill the void left by the plant shutdown.
Fox said her health system is still dealing with uncertainty because the amount Baxter has allocated to them isn’t always available through their distributor.
Foster said hospitals like to have extra supply sitting on their shelves so they can handle both planned surgeries and the unexpected, but “we’re not going to be there for a while.”
Power and water are back on at the North Carolina plant. Employees have completed a deep cleaning in production rooms and are testing and repairing equipment.
Baxter says it wants to restart production in phases by the end of the year, and also expects to ease limits it has placed on some customer orders by then.
But the company has no timeline for production to return to pre-hurricane levels.
HOUSTON, Texas (KTRK) — Early voting continues this week for Texans, and on the first day of voting, Harris County fell just short of breaking an all-time record.
In Harris County, nearly 9% of residents voted in person during the first two days of early voting, as of Wednesday aftern…Show more
The Harris County Clerk’s Office said it expects a historic turn-out and that election officials are prepared.
According to the Texas Secretary of State website, about 16,500 people voted in person on Monday in Montgomery County, while in Fort Bend County, 30,466 voted.
Brazoria County had approximately 16,660 in-person voters, and Galveston County had just over 17,000.
Former Abercrombie & Fitch CEO Mike Jeffries, his partner Matt Smith and a third man, Jim Jacobson, were arrested Tuesday as part of a criminal sex trafficking investigation by the FBI and federal prosecutors in Brooklyn, sources familiar with the investigation told ABC News.
The investigation involved whether the men sexually exploited and abused young men at parties they hosted in the United States and around the world, the sources said.
Jeffries, the former CEO who transformed Abercrombie from a traditional Ohio outfitter into a powerhouse teen fashion brand, has been accused in civil lawsuits of exploiting young men for sex at parties he hosted at his Hamptons estate in New York, London, Venice and elsewhere with his partner, Smith.
The alleged victims have said they were recruited by a middleman, Jacobson.
One of the plaintiffs, David Bradberry, a former “Below Deck” crewman, said Jeffries made Abercrombie successful by the “oversexualization of young men.”
His lawsuit accused Jeffries, Smith, Jacobson and Abercrombie itself of luring attractive young men under the guise of making them an Abercrombie model and then forcing them to take drugs and perform sex acts.
The defendants led the men to believe that attending the events would help their careers, including their chances of getting Abercrombie modeling gigs – or that not complying could harm their prospects, the indictment says.
Jeffries, Smith and Jacobson are charged with sex trafficking and interstate prostitution.
Federal prosecutors acknowledged the investigation in January after alleged victims filed a civil lawsuit a year ago.
“The U.S. Attorney’s Office for the Eastern District of New York has launched a criminal investigation of the alleged events and occurrences discussed in Plaintiff’s Complaint,” prosecutors said in a court filing.
The attorney for the plaintiff, Brad Edwards of Edwards Henderson, told ABC News in a statement: “As we laid out in our lawsuit, this was an Abercrombie run, sex trafficking organization that permeated throughout the company and allowed the three individuals arrested today to victimize dozens and dozens of young, aspiring male models.”
Attorneys for Smith and Jeffries released the following identical statements:
“We will respond in detail to the allegations after the Indictment is unsealed, and when appropriate, but plan to do so in the courthouse – not the media.”
Jeffries became CEO of Abercrombie & Fitch in 1992 and left in 2014. The New Albany, Ohio-based company declined to comment on his arrest.
AUSTIN (Talk1370.com) — University of Texas and Southeastern Conference officials both condemned fans who threw bottles and other trash onto the field at DKR-Texas Memorial Stadium Saturday night, following a controversial call that initially went against the Longhorns, before officials reversed their own call.
“While we deeply appreciate the passion and loyalty of our fan base at The University of Texas at Austin, we do not condone the unsportsmanlike conduct that was exhibited by some individuals throwing objects onto the field during last night’s game and sincerely apologize to the University of Georgia players, coaches and fans, as well as the Southeastern Conference and officiating crew,” UT officials said in a statement. “This type of behavior will not be tolerated.”
“Respect, sportsmanship, and fairness are the values that drive our program, and we expect all of our fans to uphold these standards,” the statement continued. “We are committed to fostering a positive environment for all participants, teams, officials and fans, and we will take steps to ensure that this type of behavior does not happen again.”
The incident began in the final minutes of the third quarter of Saturday’s game, when officials initially called Texas for defensive pass interference, wiping out a 36-yard interception return by cornerback Jahdae Barron.
Coach Steve Sarkisian headed toward the far corner of the field, signaling to the student section to settle down and quit throwing things. Meanwhile, the officials were discussing the play, and decided to reverse their own call.
Southeastern Conference officials weighed in on the officials’ decision-making process in a statement early Sunday morning. “The game officials gathered to discuss the play, which is permitted to ensure the proper penalty is enforced, at which time the calling official reported that he erred, and a foul should not have been called for defensive pass interference. Consequently, Texas was awarded the ball at the Texas 9 yard line.”
“While the original evaluation and assessment of the penalty was not properly executed, it is unacceptable to have debris thrown on the field at any time,” the SEC statement continued. “The disruption of the game due to debris being thrown onto the field will be reviewed by the Conference office related to SEC sportsmanship policies and procedures.”
HOUSTON, Texas (KTRK) — It’s starting to feel more like September again as high temperatures trend toward 90 degrees, but there is a pattern change coming next week that should at least bring back some opportunities for rain.
Temperatures Tuesday morning will once again drop into the upper 50s and lower 60s for most inland locations with patchy fog possible before sunrise. At the very least, expect a heavy dew on the ground to start the day.
If you’re going to vote early on Tuesday, the best time of day to get stuck outside in a line will be in the morning when temperatures are still in the 60s and 70s. All afternoon will be spent in the 80s with the high peaking around 87 degrees. The sky will vary from clear to partly cloudy throughout the day.
When could we see our next chance of rain?
Rain chances look slim this week, but there is a pocket of moisture sliding in south of I-10 on Friday that’s good enough to warrant a 10% chance of a shower. Otherwise, we’ll have to wait until closer to Halloween for a pattern change that should bring up moisture levels significantly and eventually bring about some rain chances.
What weather scenarios are on the table for Halloween?
For now it will most likely be a warm, humid Halloween with a small chance for streamer showers blowing in from the Gulf of Mexico. An alternate scenario with a slim chance of occurring is for a cool front to slip in on or just before Halloween to bring a line of storms and possibly some cooler weather behind it. We’ll hopefully have more clarity on which scenario winds out by this weekend!
Speaking of the weekend, how does the forecast look for now?
The final weekend of October will be like most of the others this month: Unseasonably warm and humid with lows in the 60s and highs in the upper 80s.
What are you tracking in the tropics?
Tropical Storm Oscar should move northeast back into the Atlantic Tuesday. It will not be a threat to the mainland United States. Head to our daily Tropical Update page for a complete look at what we’re covering in the tropics.
HOUSTON, Texas (KTRK) — An extramarital affair nearly turned deadly over the weekend after a woman allegedly conspired with her husband to kill the man she was cheating with.
Officers with the Houston Police Department responded to the scene at a Chick-fil-A on Westheimer at about 9 p.m. Saturday.
Hanna Alolaimi, and her husband, Omar Bishtawi, faced a judge on Monday where they were both charged with aggravated kidnapping and aggravated assault.
According to court records, Alolaimi was the one having the affair.
“It is alleged that you were both married to other people, and when the complaining witness found out about the relationship, the complaining witness broke off the relationship,” a magistrate said.
Alolaimi didn’t walk away from the situation. Instead, she devised a plan to allegedly kill and kidnap the man she was having an affair with.
Court records reveal how she recruited her husband to hide in her backseat as she staged a meet-up with the victim.
At the time, the victim was working as a DoorDash delivery driver when he picked up an order at Chick-fil-A.
“It is alleged that you (Alolaimi) gestured to the complaining witness, and the complaining witness got into your vehicle,” the magistrate said.
According to court records, Alolaimi and the victim would often go behind the nearby Target and hook up.
It’s just across from the apartment complex where police say both of them lived.
The night of the shooting, Alolaimi allegedly chose the nearby Chick-fil-A on purpose, hoping to lure the victim to their usual spot.
“(Alolaimi) tried to drive off with the complaining witness, although the complaining witness told you that he had a delivery and could not go,” the magistrate said.
Details read aloud in court allege the victim had no idea Alolaimi’s husband was also there for the rendezvous.
“Your husband jumped out from under a curtain that was in the backseat of the vehicle. He put the complaining witness in a chokehold and pressed a firearm to the complaining witness’s head,” the magistrate said.
According to investigators on the scene Saturday night, the victim tried to get away, and that’s when Bishtawi shot him. Once in the leg and once in the foot.
“Which could have caused death due to the complaining witness bleeding out,” the magistrate said.
The couple ultimately drove off but later called police to surrender.
According to court records, the pair gave conflicting statements to officers.
They’ve since been charged with aggravated assault and aggravated kidnapping.
HOUSTON, Texas (KTRK) — An extramarital affair nearly turned deadly over the weekend after a woman allegedly conspired with her husband to kill the man she was cheating with.
Officers with the Houston Police Department responded to the scene at a Chick-fil-A on Westheimer at about 9 p.m. Saturday.
Hanna Alolaimi, and her husband, Omar Bishtawi, faced a judge on Monday where they were both charged with aggravated kidnapping and aggravated assault.
According to court records, Alolaimi was the one having the affair.
“It is alleged that you were both married to other people, and when the complaining witness found out about the relationship, the complaining witness broke off the relationship,” a magistrate said.
Alolaimi didn’t walk away from the situation. Instead, she devised a plan to allegedly kill and kidnap the man she was having an affair with.
Court records reveal how she recruited her husband to hide in her backseat as she staged a meet-up with the victim.
At the time, the victim was working as a DoorDash delivery driver when he picked up an order at Chick-fil-A.
“It is alleged that you (Alolaimi) gestured to the complaining witness, and the complaining witness got into your vehicle,” the magistrate said.
According to court records, Alolaimi and the victim would often go behind the nearby Target and hook up.
It’s just across from the apartment complex where police say both of them lived.
The night of the shooting, Alolaimi allegedly chose the nearby Chick-fil-A on purpose, hoping to lure the victim to their usual spot.
“(Alolaimi) tried to drive off with the complaining witness, although the complaining witness told you that he had a delivery and could not go,” the magistrate said.
Details read aloud in court allege the victim had no idea Alolaimi’s husband was also there for the rendezvous.
“Your husband jumped out from under a curtain that was in the backseat of the vehicle. He put the complaining witness in a chokehold and pressed a firearm to the complaining witness’s head,” the magistrate said.
According to investigators on the scene Saturday night, the victim tried to get away, and that’s when Bishtawi shot him. Once in the leg and once in the foot.
“Which could have caused death due to the complaining witness bleeding out,” the magistrate said.
The couple ultimately drove off but later called police to surrender.
According to court records, the pair gave conflicting statements to officers.
They’ve since been charged with aggravated assault and aggravated kidnapping.
