By Nicholas P. Brown and Juveria Tabassum (Reuters) -Forever 21’s U.S. operating company on Sunday filed for bankruptcy for the second time in six years and said it would wind down its domestic operations, hurt by mounting online competition in the fast-fashion sector and weak mall traffic. It blamed the situation on higher costs and …
Forever 21 files for bankruptcy again, to start liquidation sales Read More »
(Reuters) – Tata Sons’ acquisition of an additional 10% stake in Tata Play from an affiliate of Singaporean sovereign wealth fund Temasek Holdings has received regulatory clearance, the Competition Commission of India (CCI) said on Monday. The deal to buy Baytree Investments (Mauritius) Pte’s holding in the direct-to-home (DTH) and digital content distribution platform will …
Tata Sons’ move to boost stake in Tata Play gets Indian regulatory clearance Read More »
(Reuters) -Chemicals firm DuPont De Nemours said on Monday insider Jon Kemp will take over as CEO of its independent electronics unit following the planned spinoff of the business. It is also looking to appoint an external hire as chief financial officer of the unit. The company had accelerated the separation of its electronics business, …
DuPont insider Jon Kemp to lead electronics unit post spinoff Read More »
(Reuters) -The Trump administration filed a motion to extend two deadlines in U.S. Steel and Nippon Steel’s lawsuit against a U.S. national security panel to give the government more time to wrap up merger talks with the firms, a filing showed on Monday. The filing is the clearest indication that U.S. President Donald Trump may …
Trump administration seeks delay in Nippon Steel case for merger talks, filing shows Read More »
WASHINGTON (Reuters) – U.S. business inventories rebounded in January as declining sales boosted stocks at wholesalers, which could see inventories contributing to economic growth in the first quarter. Inventories increased 0.3% after declining 0.2% in December, the Commerce Department’s Census Bureau said on Monday. The rise in inventories, a key component of gross domestic product, …
WASHINGTON (Reuters) – U.S. homebuilder sentiment dropped to a seven-month low in March as tariffs on imported materials raised construction costs, a survey showed on Monday. The National Association of Home Builders/Wells Fargo Housing Market Index dropped three points to 39 this month, the lowest level since August. Economists polled by Reuters had forecast the …
US homebuilder sentiment drops to seven-month low in March Read More »
(Reuters) – Guess said on Monday it had received a take-private offer from brand management firm WHP Global of $13 per share. WHP Global has offered to buy Guess’ outstanding shares, except those owned by co-founders Paul Marciano and Maurice Marciano and CEO Carlos Alberini. The three together owned roughly 43% of the company, according …
Apparel retailer Guess gets take-private offer from WHP Global Read More »
(Reuters) – U.S. retail sales rebounded in February, suggesting that the economy continued to grow in the first quarter, though at a moderate pace as tariffs on imports and mass firings of federal government workers weigh on sentiment. Retail sales rose 0.2% last month after a revised 1.2% decline in January, the Commerce Department said …
Feb retail sales rise less than expected after Jan mark down Read More »
By Dawn Chmielewski, Kane Wu and Krystal Hu (Reuters) – In the closely watched sale of TikTok, the White House is playing the role of investment bank, with Vice President JD Vance running the auction. It is an unprecedented level of involvement in a private deal by the country’s highest office that adds to the …
Analysis-In TikTok sale, the White House is playing an unprecedented role Read More »
(Reuters) – Factory activity in New York State plummeted this month by the most in nearly two years, a survey showed on Monday, with new orders falling sharply and input prices climbing at the fastest rate in more than two years in the latest sign the economy may be weakening. The Federal Reserve Bank of …
New York State factory activity plunges in March, NY Fed says Read More »
