Red Lobster is closing its Times Square restaurant after more than two decades in one of the world’s busiest tourist destinations.

The restaurant, located at 5 Times Square, is scheduled to close June 14, ending a high-profile presence the seafood chain has maintained in the heart of Manhattan since 2003.

“Times Square has been an important chapter in Red Lobster’s history, and this was a difficult decision,” the company said in a statement.

RED LOBSTER BRINGS BACK FAN-FAVORITE ‘ENDLESS SHRIMP’ DEAL IN LONG-AWAITED RETURN

Red Lobster said extensive and prolonged construction at the building has significantly impacted access, visibility and foot traffic at the restaurant. The company also cited the property’s planned conversion to residential use, saying continued operations at the location were no longer viable.

“We are grateful to the team members and guests who have made this restaurant special over the years,” the company said.

The closure comes as Red Lobster continues efforts to rebuild the business after emerging from Chapter 11 bankruptcy protection in 2024. The seafood chain filed for bankruptcy in May of that year after closing dozens of restaurants nationwide amid mounting financial pressures.

A bankruptcy court later approved the company’s reorganization plan, allowing Red Lobster to exit Chapter 11 under new ownership backed by Fortress Investment Group. At the time, the company said it would continue operating as an independent company with 544 locations across 44 states and four Canadian provinces.

RED LOBSTER CLEARED TO EXIT CHAPTER 11 BANKRUPTCY PROTECTION

As part of the restructuring, RL Investor Holdings LLC, an entity backed by Fortress Investment Group, acquired the company. Damola Adamolekun took over as CEO following the reorganization and has led efforts to revive the iconic seafood chain.

Red Lobster has not indicated that the Times Square closure is part of a broader round of restaurant shutdowns. 

RED LOBSTER CONSIDERING MORE RESTAURANT CLOSURES, CEO SAYS

The Times Square restaurant has occupied a prominent corner location at 41st Street and Seventh Avenue since 2003, serving tourists and theatergoers visiting the area. 

CLICK HERE TO GET FOX BUSINESS ON THE GO

Red Lobster said all affected employees will be offered the opportunity to transfer to another company location and will receive additional pay to support them through the transition.

Legal firm Knights advised Cardo on its latest acquisition

Cardiff-based building and maintenance contractor Cardo Group has further expanded with the acquisition of Merthyr electrical and engineering firm EFS Systems.

Legal firm Knights, through its Cardiff office, acted for Cardo on the deal, the value of which has not been disclosed.

EFS is an established contractor delivering commercial, industrial and renewable energy projects. Its capabilities include electrical design, installation, inspection, testing and maintenance, together with fire and security systems, data and networking, solar panels and electric vehicle charging solutions.

The acquisition is strategically aligned with Cardo Group’s existing maintenance, compliance, retrofit and decarbonisation offering, while adding further capability in electrical services and energy-efficient technologies.

Liam Bevan, chief executive of Cardo Group, said: “We’re really pleased to welcome the EFS Systems team into Cardo Group. Their track record of high-quality, people-focused services aligns closely with how we approach our work.

“Rob and the EFS Systems team have been trusted partners of mine for over 10 years, and we’ve worked closely with them on projects for a wide range of clients during that time.

“This acquisition strengthens our ability to deliver integrated services for our clients, while continuing to grow our presence in key regions. Just as importantly, it brings in a team with the right values and expertise to support our long-term ambitions.”

A specialist team of legal advisors at regional legal and professional services business, Knights, advised Cardo Group on the acquisition. The multi-disciplinary team was led by corporate partner Emma Borrington, supported by Elizabeth Hill and Edmund Anya in corporate, Sarah Luxmoore in employment, Krystal Gibbins in real estate, Steve Webb in construction and Sarah Cardew in corporate tax.

Corporate partner with Knights, Emma Borrington, said:“We were delighted to support Cardo Group on this acquisition. EFS Systems is a well-regarded business with strong technical capability, and the transaction is closely aligned with Cardo’s strategic objectives.

“It has been a pleasure to work alongside Liam, Alex Crewe and the wider Cardo team on another important transaction, and to support the business as it continues to invest in complementary specialist capabilities.

“We wish everyone at Cardo Group and EFS Systems every success as they take this next step together.”

The company is turning its fortunes around after a ‘difficult’ period

A Devon-based agricultural supply business founded 66 years ago has returned to profit after two “difficult” years. Mole Valley Farmers was established in 1960 by a group of farmers in South Molton who joined together to form an agricultural buying group.

The company, which now employs more than 1,700 staff and has 9,000 farmer shareholders, sells a range of goods including livestock feed, animal health products and pet supplies direct to farmers and the general public online and in its 48 stores.

In its latest set of results filed on Companies House, Mole Valley Farmers reported turnover of £555.7m for the year ended September 2025 – marginally down from £558.8m a year earlier. But the business returned to a group operating profit of £500,000 – an improvement of some £5.8m on the year before.

“After two consecutive years of substantial losses, it is deeply encouraging to report a return to a modest level of operating profit,” chief executive Jack Cordery said in a statement.

“This financial recovery, although only one step on a longer journey toward sustainable profitability, illustrates that the strategic adjustments implemented at every level of the organisation are taking effect.”

Mr Cordery said a “rigorous focus” on cost contral and operational efficiency had been central to Mole Valley’s performance over the last year.

“Following a period in which inflationary pressures, labour cost increases and volatile commodity markets created considerable headwinds, we undertook a comprehensive review of expenditure and internal processes.

“Through tighter financial discipline, improved stock management and targeted productivity measures, we have successfully reduced our operating cost base whilst maintaining strong service standards for farmer shareholders and customers.”

In its financial report, Mole Valley said it had reduced its operating costs by £3.7m in “a climate of increasing inflationary pressures. It added that greater working capital and debt reduction had also allowed the business to mull investment opportunities.

The company said it was looking to make “significant investments” over the financial year at its mills at Huntworth and Dorchester.

“We have seen a considerable turnaround from the previous year, despite plenty of head winds,” said chair Stephen Bones.

“We are clear that there is still much to do to ensure real business stability and resilience.”

He added: “In the current budget year, we are seeing sales and revenue growth and a continued focus on cost of sales. The business is now more resilient, better able to withstand external pressures and well positioned to invest in areas that support long-term value creation.”

Last year, Mole Valley Farmers agreed a deal with Plymouth port Cattedown Wharves, which saw it take over use of the quay-side storage facilities and collaborate to manage incoming cargoes.

The long wait for the NSE public listing appears to be entering its final stretch. The exchange recently confirmed that it expects to file its draft red herring prospectus (DRHP) by the second week of June, putting the country’s most anticipated IPO one step closer to reality.

The update has once again sparked interest in NSE’s unlisted shares, which continue to change hands actively in the private market. With the DRHP now less than two weeks away, investors may want to know does it still make sense to buy NSE shares before the IPO?

The answer from analysts is nuanced. Most experts agree that NSE remains one of India’s strongest financial franchises. However, they also caution that investors should not treat the approaching IPO as an automatic opportunity for quick gains.

NSE currently trades in the unlisted market at around Rs 1,950-2,050 per share, implying a valuation of roughly Rs 5 lakh crore. That valuation already reflects significant optimism around the company’s eventual listing.

“NSE is clearly one of India’s strongest capital-market franchises and remains one of the most awaited IPO candidates. However, investors looking to buy unlisted shares purely because the DRHP filing is close should exercise caution,” said Paresh Bhagat, CIO of Veer Growth Fund and chairman of Mangal Keshav.

“The business quality is not in question. The key risk is valuation and entry price.” Bhagat noted that based on FY26 profit after tax of around Rs 10,300 crore, the exchange is already valued at nearly 48-50 times earnings.
While NSE enjoys dominant market share, strong profitability and significant cash generation, he believes much of that strength is already reflected in current unlisted market prices. One of the biggest assumptions among investors is that buying shares before the IPO guarantees a profit once the company lists. Analysts say that assumption may not always hold true.The eventual IPO pricing remains unknown. In many large public offerings, companies deliberately leave room for public market investors by pricing the issue below prevailing unlisted market valuations.

If that happens, investors entering NSE at current unlisted prices could face limited upside or even temporary mark-to-market losses. “The pre-IPO window should not be seen as a guaranteed arbitrage opportunity,” Bhagat said. “If the IPO is priced more reasonably for public-market investors, the gap versus current unlisted prices could be meaningful.”

Others echo the same concern. “I would avoid buying NSE unlisted shares purely on the expectation of the upcoming DRHP filing,” said Arpit Jain, Joint Managing Director at Arihant Capital Markets.

“While the filing could be an important milestone in the IPO journey, a significant portion of the optimism around the listing is already reflected in the current unlisted market price.” Jain pointed to several high-profile IPOs in recent years where strong excitement before listing did not necessarily translate into exceptional post-listing returns.

He said investors should focus on valuation, offer pricing, market conditions and the final IPO structure rather than rushing to buy shares simply because the DRHP is approaching.

At the same time, few analysts dispute the quality of the underlying business. NSE remains India’s largest stock exchange and dominates equity derivatives trading. The exchange reported total income of Rs 18,713 crore and consolidated net profit of Rs 10,302 crore in FY26.

Its capital-light business model, strong cash flows and dominant market position have made it one of the most sought-after names in the unlisted market.

According to Nitant Darekar, Research Analyst at Bonanza, NSE currently trades at around 45 times FY26 earnings, based on earnings per share of Rs 41.62. While that valuation is not cheap, it remains below some listed peers.

“NSE remains a capital-light near-monopoly,” Darekar said. “At around Rs 1,950-2,170 in the unlisted market, it trades near 45x FY26 earnings. That’s rich, but below BSE at around 70x and MCX at around 80x.”

Darekar added that the recent settlement of the long-running co-location case has removed a major overhang on the IPO process. However, he cautioned that the exchange’s earnings remain linked to derivatives trading activity, which can be volatile, especially after regulatory changes in the futures and options segment.

He also highlighted another practical consideration for investors. “The urgency is real. Post-DRHP, fresh unlisted purchases face a one-year lock-in. But valuation, not the calendar, should drive the decision.”

That point is particularly important because many retail investors view the narrowing pre-IPO window as a reason to buy immediately.

Ishan Tanna, Senior Associate at Ashika Capital, said history suggests otherwise. “Historically, buying unlisted shares very close to the IPO stage has not always offered the best risk-reward for investors,” he said.

“In many cases, the biggest gains are made when IPO visibility is low and uncertainty is high. Once the DRHP gets filed and listing draws closer, valuations often become expensive as the IPO excitement premium starts getting priced in.”

Tanna said NSE remains a rare financial infrastructure asset with strong profitability and a dominant position in Indian capital markets, making it attractive for long-term investors.

However, investors chasing quick listing gains should recognise that late-stage entry into pre-IPO stories often carries greater risks than many assume.

For now, the consensus among market experts is that NSE remains one of India’s highest-quality businesses and its IPO will likely attract enormous investor interest. But with the stock already trading at elevated valuations in the unlisted market, investors may need to focus less on the countdown to the DRHP and more on whether the current price adequately compensates them for the risks ahead.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

“The findings primarily concern the use of Wise accounts for criminal purposes, with indications of non-compliance with anti-money laundering legislation, particularly due to a failure to identify customers and their activities,” the spokesperson added.

After having been in the investing world for more than 25 years from private banking and investment management to private and venture capital; I have pretty much “been there and done that” at one point or another. I am currently a partner at RIA Advisors in Houston, Texas. The majority of my time is spent analyzing, researching and writing commentary about investing, investor psychology and macro-views of the markets and the economy. My thoughts are not generally mainstream and are often contrarian in nature but I try an use a common sense approach, clear explanations and my “real world” experience in the process. I am a managing partner of RIA Pro, a weekly subscriber based-newsletter that is distributed to individual and professional investors nationwide. The newsletter covers economic, political and market topics as they relate to your money and life. I also write a daily blog which is read by thousands nationwide from individuals to professionals at www.realinvestmentadvice.com.

Business documents rarely stay inside the business for long. Verizon’s 2025 Data Breach Investigations Report found that third-party involvement in breaches doubled to 30%, underlining how much risk now sits in the relationships between companies, suppliers, clients and advisers.

PDFs sit at the centre of that exchange. Proposals, invoices, contracts, staff policies, pitch decks, investor updates and client reports are all shared this way because the format is easy to open, difficult to accidentally edit and reliable across devices.

That convenience also creates a risk. Once a PDF leaves a company inbox or document portal, it can be forwarded, copied, printed or uploaded elsewhere. Passwords and access controls help, but they do not always follow the file once it has been downloaded.

This is where watermarking becomes useful. A watermark will not turn a PDF into an unbreakable security vault, and it should not replace passwords, NDAs or proper document management. What it can do is make ownership, status and intended use visible on every page. For many businesses, that simple layer of deterrence is enough to reduce casual sharing and make sensitive files feel more controlled.

Why watermarking PDFs still matters

The purpose of a PDF watermark is partly practical and partly psychological.

A clear “Confidential”, “Draft”, “Internal Use Only” or company-branded watermark reminds the reader that the document is not just another file. It signals that the content belongs to a business and should be handled accordingly.

That can be useful in several everyday situations:

• sending early proposals to potential clients,
• sharing sales decks with partners,
• distributing paid training materials,
• marking sample contracts,
• protecting creative work,
• making sure outdated drafts are not mistaken for approved documents.

Watermarks are especially helpful when documents are likely to be printed, screenshotted or passed on outside a controlled platform. Even if a PDF is separated from the email thread or portal where it originally appeared, the watermark travels with it.

What to look for in a PDF watermarking tool

The right tool depends on how often a business watermarks PDFs and what type of files it handles. A small company that only marks the occasional proposal may need a fast browser-based option. A legal, finance or design team may need batch processing, page-range controls or desktop software.

Useful features include:

• text and logo watermarks
• opacity, rotation, colour and position controls
• the ability to place a watermark above or below PDF content
• page range settings
• batch watermarking for multiple files
• preview before export
• privacy controls, especially for sensitive documents
• simple pricing with no unnecessary PDF editing bundle

It is also worth remembering that watermarking should be part of a wider document policy. For highly confidential files, combine watermarks on PDF with access permissions, encryption, secure sharing links and good internal rules about who can download or forward documents.

Watermarkly: best for fast, practical business watermarking

Watermarkly

is one of the most straightforward options for businesses that need to watermark PDFs quickly without installing heavy software.

The tool works in the browser and allows users to add text, logos or image-based watermarks to one or several PDF files at once. It supports common business needs such as adjusting opacity, rotation, size, colour and placement. Users can also apply a watermark to selected page ranges, place it behind document text, preview the result and reuse saved watermark templates.

That makes it particularly useful for small businesses, agencies, consultants and marketing teams that regularly send branded PDFs but do not want a complex PDF editing suite.

A major advantage is privacy. Watermarkly says PDF files are processed on the user’s device, which is reassuring for businesses handling proposals, pricing documents or internal reports. It also works across Windows, Mac, Linux, iOS and Android, so teams can use it without worrying about operating systems.

Pros:

• simple interface,
• batch watermarking,
• text and logo support,
• page range controls,
• behind-text placement,
• reusable templates
• browser-based use.

Cons:

• The free version adds a small Watermarkly logo, so regular business use will usually require the paid plan.

Best for:

• businesses that want a quick, focused watermarking tool without the cost or complexity of a full PDF editor.

Adobe Acrobat: best for full PDF control

Adobe Acrobat remains the most established name in PDF software. Its watermarking tools are built into a much wider editing environment, allowing users to add text or image watermarks, control opacity and placement, apply watermarks to specific pages, and process multiple files.

For organisations already using Adobe across design, legal or document workflows, Acrobat is a natural choice. It is also a stronger option when watermarking is only one part of a broader PDF process, such as editing text, adding signatures, redacting content, combining files or applying security settings.

The trade-off is cost and complexity. Acrobat is more powerful than many businesses need for basic watermarking, and users who only want to mark a file as confidential may find the workflow slower than dedicated tools.

Pros:

• powerful PDF editing,
• strong professional reputation,
• batch options
• broad document controls.

Cons:

• subscription cost,
• more complex interface
• potentially excessive for simple watermarking tasks.

Best for:

• larger teams and businesses that already rely on Adobe for document management.

Smallpdf: best for quick text watermarks

Smallpdf offers a clean online tool for adding text watermarks to PDFs. It is easy to use, works in the browser and is suitable for quick tasks such as marking a document “Draft” or “Confidential”.

Its main strength is convenience. Users can upload a file, type the watermark text, adjust basic styling and download the finished PDF without needing specialist knowledge.

However, businesses that need logo-based watermarks, more advanced positioning or repeat batch workflows may find it less flexible than dedicated watermarking tools. It is a good everyday option, but not necessarily the most complete one.

Pros:

• simple and fast,
• browser-based,
• beginner-friendly.

Cons:

• more limited for advanced branding or high-volume PDF workflows.

Best for:

• occasional text watermarking.

iLovePDF: best for a broad PDF toolkit

iLovePDF is popular because it brings many PDF tools into one place. Its watermarking feature supports both text and image watermarks, with controls for transparency, position, rotation, page range and whether the watermark appears above or below the PDF content.

For businesses that also need to merge, compress, split or convert PDFs, or turn documents from pdf to flashcards, this can be convenient. The interface is approachable and the tool is widely used.

The concern for some businesses will be document sensitivity. As with any online PDF service, teams should check privacy settings and internal policies before uploading confidential files.

Pros:

• broad PDF toolkit,
• text and image watermarking,
• page range options
• easy access.

Cons:

• online processing may not suit sensitive documents;
• free usage may be limited depending on workload.

Best for:

•  teams that want many PDF utilities in one online platform.

Sejda: best for precise online editing

Sejda provides both online and desktop PDF tools, which gives businesses more flexibility. Its watermarking tool supports text and image watermarks, custom page ranges, positioning, rotation, opacity and templates.

The desktop option is useful for companies that prefer not to upload documents for processing. Sejda’s free online version has limits, including file size, page count and number of tasks per hour, but it is capable enough for light use.

Pros:

• text and image support,
• useful editing controls,
• online and desktop options.

Cons:

• free limits can be restrictive for heavier business use.

Best for:

• users who want more control but are not ready for a full Adobe subscription.

PDF24: best free utility option

PDF24 is a practical free option with both online tools and a desktop Creator app. Its watermarking tool allows users to add text watermarks with controls for font, size, colour, angle, position and spacing.

It is not the most polished interface, but it is useful for businesses that want a no-cost PDF utility, especially on Windows. The offline Creator app may appeal to users who prefer keeping files on their own machine.

Pros:

• free, broad PDF toolkit,
• online and offline options.

Cons:

•  interface is less refined;
• watermark design options are more functional than brand-focused.

Best for:

• cost-conscious businesses that need occasional PDF utilities.

Watermarking is one part of document protection

A watermark works best as part of a wider document protection process.

Businesses should still use password protection where appropriate, restrict access to sensitive files, remove unnecessary metadata, keep version control clear and avoid sending confidential documents to the wrong recipients. For highly sensitive contracts or financial information, secure portals and access logs may be more appropriate than email attachments.

But for the everyday documents that businesses share constantly, PDF watermarking is a sensible habit. It is quick, inexpensive and easy to understand. It tells the recipient how the document should be treated and makes casual misuse less likely.

For most SMEs, the best tool is the one that staff will actually use. Watermarkly stands out because it focuses on the job at hand: adding clear, professional watermarks to PDFs quickly, including batches of files, without making users navigate a full PDF editing suite.

In a working environment where documents move faster than ever, that kind of simple protection can make a real difference.