Red Lobster Files for Bankruptcy; Target Lowering Prices on 5,000 Items | Business Matter Full Broadcast (May 20)

Restaurant chain Red Lobster has filed for Chapter 11 bankruptcy protection in a Florida court. It said its restaurants will be open and operate as usual during the proceedings, and plans to reduce its locations as well as pursue a sale of substantially all its assets.Target is lowering prices on at least 5,000 frequently shopped products across its assortment ranging from milk to diapers, as it looks to attract budget-stretched customers.Gold touched record highs, coasting on last week's encouraging inflation data, while silver reached its highest level in over 11 years.