Logan Circle's Viceroy Hotel Wants to Offload Its Marquee Restaurant
The team behind Ivy City's popular amaro distiller Don Cicco & Figli opens Tarì Trattoria in the Union Market district next month (300 Morse Street NE). Founder Francesco Amodeo turns to his Amalfi Coast roots with whitebait fritters dipped in almond pesto, house-made rabbit pasta with thyme, and Campania's favorite dessert (eggplants, candied fruits, almonds, and chocolate). Seafood flown in from Italy, Japan, and beyond will be dry-aged on-site, and dishes are prepared with olive oil and sea salt in lieu of butter. Mixologist and Barmini alum Alex Pisi plans to make a spiked edition of Italy's rocketship popsicle on an edible licorice stick. The 32-seat dining room, framed with old photos of Amodeo's fisherman uncle at work, is joined by an even-bigger alfresco situation out front. Meet Frederick's new 7th sister
Downtown Frederick, Maryland's Ordinary Hen closed on Saturday, May 17, and the historic mansion site already has a new name and menu (228 North Market). Under the direction of chef Christian Blouin, formerly of Firestone's, and new ownership, 7th Sister plans to celebrate the mid-Atlantic legacy of the Houck sisters, who built the mansion in the heart of Frederick. Dishes include oysters dressed in blackberry mignonette and seared crab cakes flanked with whole grain mustard. Reservations go live on Thursday, May 29. Jake's Tavern grows up
Shaw's six-year-old neighborhood destination known for its drafts, burgers, wings, sports, and secret back patio outfitted with a boat is ready to expand up top. Per an announcement on social media, its long-awaited second floor with a TBA name plans to 'open soon' for private events, DJs, and game-day watch parties.
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New York Post
40 minutes ago
- New York Post
Berkshire takes $3.8 billion Kraft Heinz writedown, profit falls
Warren Buffett's Berkshire Hathaway said on Saturday it took a $3.76 billion writedown on its stake in Kraft Heinz during the second quarter, an acknowledgment the decade-old investment hasn't worked out. Berkshire also reported a 4% decline in quarterly operating profit as insurance underwriting premiums fell. The writedown and lower gains from common stocks caused a 59% drop in overall net income. Buffett's conglomerate signaled it remains cautious about market valuations, amid uncertainty about tariffs and growth in the broader economy. 6 Berkshire reported a near-record $344.1 billion cash stake for the second quarter. REUTERS It reported a near-record $344.1 billion cash stake, and sold more stocks than it bought for an 11th straight quarter. As of mid-July, Berkshire hadn't repurchased any of its own stock since May 2024. Buffett, 94, has led Omaha, Nebraska-based Berkshire since 1965, though he plans to step down at year-end. 'Investors are getting antsy and want to seek activity, and nothing is happening,' said Kyle Sanders, an analyst at Edward Jones. 'Buffett definitely views the market as overvalued, and will sit back and wait for something to come to him.' 6 Berkshire CEO Warren Buffett said he will leave the post at the end of this year. AP Uncertainty about trade policies, including tariffs, has become a headwind as delayed orders and shipments led to declining revenue at most of Berkshire's consumer businesses. Jazwares, which makes the popular Squishmallows plush toys, saw revenue fall 38.5% in the year's first half. Analysts viewed overall results as lackluster. 'Berkshire and the economy are at an inflection point,' said Cathy Seifert, a CFRA Research analyst. 'I don't think the market will embrace the combination of mediocre results, a lack of stock buybacks, and Berkshire's recent share underperformance amid a management transition.' Seifert and Sanders rate Berkshire 'hold.' Second-quarter operating income fell to $11.16 billion, or about $7,760 per Class A share, from $11.6 billion a year earlier. Results included $877 million of currency losses as the U.S. dollar weakened. Net income, including gains and losses on stocks such as Apple and American Express, fell to $12.37 billion from $30.35 billion. Revenue fell 1% to $92.52 billion. Buffett views unrealized investment gains and losses, including on stocks Berkshire has no plans to sell, as often meaningless to understanding his company. 6 Kraft Heinz said last month it would consider strategic alternatives, including a breakup. Getty Images The $3.76 billion after-tax writedown for Berkshire's 27.4% Kraft Heinz stake, equal to $5 billion before taxes, followed the struggling food company's announcement it would consider strategic alternatives, which could include a breakup. Berkshire had carried Kraft Heinz on its books at above-market value but said economic and other uncertainties, and its longer-term plans to remain an investor, made the gap 'other-than-temporary.' The writedown is Berkshire's second for Kraft Heinz, following a $3 billion writedown in 2019. Buffett acknowledged at the time that Berkshire overpaid in the 2015 merger of Kraft Foods and H.J. Heinz, one of his biggest investment missteps. Kraft Heinz has suffered as more shoppers favor healthier and private-label alternatives. Its approximately 200 brands include Oscar Mayer, Kool-Aid, Velveeta and Jell-O. 6 Kraft Heinz's plant in Montreal. JHVEPhoto – Berkshire also carries another big investment, its 28.1% stake in Occidental Petroleum at $5.3 billion above fair value, but reported no need for a writedown. Shares of Berkshire have fallen more than 12%, and lagged the S&P 500 by about 22 percentage points, since Buffett announced on May 3 he would step down as chief executive at year end. Vice Chairman Greg Abel, 63,will succeed him, though Buffett will remain chairman. Analysts said the premium embedded in Berkshire's stock price because of the presence of Buffett, arguably the world's most well-known investor, has eroded, while growth may slow in the insurance sector, a major Berkshire profit center. 6 Berkshire shares have fallen more than 12% since CEO Warren Buffett announced his departure on May 3. AP The lack of new investments has also been a drag. Analysts believe Berkshire's BNSF unit could buy CSX to create another transcontinental railroad, after Union Pacific agreed last week to acquire Norfolk Southern. Buffett transformed Berkshire over six decades from a troubled and since-closed textile company into a $1.02 trillion conglomerate. Berkshire owns several insurers and reinsurers, electric utility and renewable energy businesses, several chemical and industrial companies, and familiar consumer brands such as Dairy Queen, Fruit of the Loom and See's Candies. Berkshire said the 12% quarterly decline in insurance underwriting profit stemmed primarily from reinsurance businesses and some smaller insurance businesses. 6 Warren Buffett has led Berkshire since 1965. AFP via Getty Images Geico, its best-known insurance business, saw pre-tax underwriting profit rise 2%, as a 5% increase in premiums offset a smaller rise in accident losses. The car insurer has been ceding market share to State Farm and Progressive, while focusing on improving underwriting quality and technology and cutting jobs. Analysts said higher tariffs could be a headwind for Geico if the cost of auto parts rose, potentially increasing losses from accident claims. BNSF is also cutting expenses. Lower fuel costs helped boost quarterly profit 19% gain, though revenue and cargo volumes barely changed. The energy business, Berkshire Hathaway Energy, posted a 7% profit increase. Berkshire said it is evaluating the impact of the One Big Beautiful Bill Act, signed last month by President Trump, on the 'economics and viability' of its renewable energy, storage and technology-neutral projects.
Miami Herald
40 minutes ago
- Miami Herald
Lamborghini's First Personalized Temerario Glows in Grey and Blue
Lamborghini's shift toward electrified supercars continues with the introduction of the Temerario, the Italian marque's all-new plug-in hybrid coupe. The model represents the brand's departure from the Huracán and its long-serving V10 engine, which has been replaced by a more potent and efficient twin-turbo V8 hybrid setup. With the Temerario, Lamborghini completes its transition to a fully electrified product line alongside the Revuelto and the Urus SE. The latest development comes in the form of the first Temerario Ad Personam – a fully customized one-off model created by Lamborghini's personalization division. Revealed in Porto Cervo, Sardinia, during a private gathering, the build draws inspiration from the Mediterranean backdrop and introduces a tailored visual expression of the new hybrid Lamborghini. Dubbed the Temerario Porto Cervo, this one-off example is defined by a finish called Grigio Serget – a grey base that reveals embedded blue flakes under direct light. Gloss black elements in Nero Noctis outline the lower body, front splitter, rear diffuser, and side scoops. A slim pinstripe in Blu Royal provides a color break across the body, also found on the rear wing. Blue brake calipers hide behind Velador gloss black wheels, and matte black quad tailpipes add contrast at the rear. Inside, the blue-grey theme continues. Grigio Octans leather and Corsa Tex upholstery form the base of the cabin, while Blu Nethuns stitching and leather inserts appear across seat panels and door trims. Embroidery includes Lamborghini logos and a Temerario script with Tricolore detail along the cabin's rear wall. A profile of the car is stitched into the doors, while matte carbon trim and a red-detailed carbon steering wheel reinforce the supercar's driver-oriented purpose. Two plaques mark this unit's uniqueness: one reads Ad Personam on the driver-side B-pillar, the other tagged "Porto Cervo 2025" – to be replaced by the owner's custom plate before delivery. The Temerario is powered by an all-new 4.0-liter twin-turbo V8 engine paired with three electric motors. The gasoline engine alone delivers 789 hp with a 10,000 rpm redline. With hybrid assistance, total output reaches 907 hp. Power is routed to all four wheels via an 8-speed dual-clutch automatic. Lamborghini claims 0–100 km/h in 2.7 seconds and a top speed of 213 mph. The Temerario Porto Cervo is a one-off commission, though Lamborghini's Ad Personam program allows buyers to create similarly bespoke configurations. The standard model's MSRP hovers around $300,000. Production takes place alongside the Revuelto on Lamborghini's new hybrid-capable line in Sant'Agata Bolognese. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Newsweek
an hour ago
- Newsweek
Boeing Strike Begins Monday After Negotiations Fail
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. More than 3,200 Boeing defense workers are set to begin striking Monday, August 4, after overwhelmingly rejecting a contract proposal that included a 20 percent wage increase over four years. Newsweek reached out to International Association of Machinists and Aerospace Workers (IAM) District 837 via email on Sunday for comment. Why It Matters This latest action represents the first strike in nearly three decades at Boeing's St. Louis-area defense factories, with the union's last work stoppage occurring in 1996 and lasting 99 days, according to Bloomberg. The strike also adds to Boeing's mounting challenges amid ongoing safety concerns and production issues that have severely damaged the company's reputation. Transportation Secretary Sean Duffy stated in March that Boeing had lost the trust of the American people following a mid-air panel blowout on an Alaska Airlines 737 MAX 9, two fatal crashes in 2018 and 2019 that killed 346 people, and a recent Boeing 787 Dreamliner crash in India that killed 260 people. The work stoppage will directly impact production of the F-47 fighter jet, part of the Next Generation Air Dominance program designed to replace the F-22 Raptor. Boeing won this critical contract earlier this year, with the company expanding its St. Louis manufacturing facilities to accommodate the sixth-generation fighter program. What To Know Members of the IAM District 837 voted down Boeing's offer on Sunday, August 3, following the expiration of their current contract at 11:59 p.m. CT, according to a press release from the union. This latest vote follows members' rejection of Boeing's earlier proposal on Sunday, July 27. The impending walkout will affect three facilities in St. Louis, St. Charles, Missouri, and Mascoutah, Illinois, where workers assemble critical military aircraft, including F-15 fighters, F/A-18 Super Hornets, and components for the advanced F-47 fighter jet program. Despite union leaders initially recommending approval of what they called a "landmark" agreement, District 837 members rejected Boeing's offer. The proposal included the 20 percent wage increase, improved medical benefits, enhanced pension provisions, and better overtime benefits. Boeing characterized this as "the richest contract offer we've ever presented to IAM 837 which addressed all their stated priorities." The Boeing Air Dominance division produces several military aircraft, including the U.S. Navy's Super Hornet and the Air Force's Red Hawk training aircraft. A strike late last year by machinists' union members put a heavy toll on the company, compounding existing production issues and stalling manufacturing of key aircraft including the 737 MAX, 767, and 777 models. The union implemented a seven-day "cooling off" period following the contract's expiration, delaying strike action until August 4. This procedural step is standard in labor negotiations to provide additional time for potential last-minute agreements. What People Are Saying Boeing Air Dominance Vice President Dan Gillian said in a statement: "We're disappointed that Boeing employees voted down the richest contract offer we've ever presented to IAM 837 which addressed all their stated priorities. We've activated our contingency plan and are focused on preparing for a strike. No talks are scheduled with the union." IAM District 837 Directing Business Representative Tom Boelling said in a statement: "IAM District 837 members have spoken loud and clear, they deserve a contract that reflects their skill, dedication, and the critical role they play in our nation's defense." IAM International President Brian Bryant said in a statement: "Our union is built on democracy, and our members have every right to demand a contract worthy of their contributions. We will be there on the picket lines, ensuring Boeing hears the collective power of working people." IAM Resident General Vice President Jody Bennett said in a statement: "Solidarity is our strength. This vote shows that when workers stand together, they can push back against corporate greed and fight for a better future for themselves and their families. We are proud to back our members every step of the way." IAM Midwest Territory General Vice President Sam Cicinelli said in a statement: "IAM District 837 members build the aircraft and defense systems that keep our country safe. They deserve nothing less than a contract that keeps their families secure and recognizes their unmatched expertise." Pro-union stickers are pictured on a pole outside the Boeing Renton Production Facility one day before striking union members will vote on a new contract offer in Renton, Washington on November 3, 2024. Pro-union stickers are pictured on a pole outside the Boeing Renton Production Facility one day before striking union members will vote on a new contract offer in Renton, Washington on November 3, 2024. JASON REDMOND/AFP via Getty Images What Happens Next? Boeing has activated contingency plans and stated no additional talks are scheduled with the union. The company faces pressure to resolve the dispute quickly to avoid delays in critical defense programs, particularly the F-47 production timeline. The duration of the strike will likely depend on whether Boeing offers additional concessions beyond the substantial wage and benefit improvements already proposed.
