Red Lobster may exit bankruptcy protection soon

Red Lobster is set to exit Chapter 11 bankruptcy protection after a judge approved its reorganization plan. The seafood chain plans to operate 544 locations and will introduce a new CEO, Damola Adamolekun, as it looks to stabilize its business following financial struggles and restaurant closures.

Volvo drops plan to go fully electric by 2030, hybrids to remain

Volvo has revised its 2030 plan to go fully electric, citing slowing demand for EVs and rising consumer interest in hybrids. The automaker now expects 90% to 100% of its 2030 sales to be electric or plug-in hybrids, with mild hybrids making up the remainder.