Business News
Victoria's Secret gets ready for a makeover
The Economist - 6 Dec 2018 17:42
SEX SELLS, and it sells few things better than lingerie. Nowhere is that more evident than the Victoria's Secret fashion show. Befeathered models, known as "angels", shimmy down a runway to promote America's biggest unde...
How to redesign cities to fight loneliness
Fast Company - 6 Dec 2018 08:00
Here’s a long list of simple and smart ideas to create more connections in city life. Do you feel lonely? If you do, you are not alone. While you may think it’s a personal mental health issue, the collective social i...
China's private sector faces an advance by the state
The Economist - 6 Dec 2018 17:42
AN OLD AFFLICTION is settling on China's entrepreneurial class. It manifests itself in a cold sweat just at the mention of state-owned enterprises (SOEs), and a gnawing sensation that it is out of favour with the Communi...
Oil prices dip as stock markets slide, but trading tepid ahead of OPEC meeting
Reuters - 6 Dec 2018 03:47
Oil prices fell along with weak stock markets on Thursday, but trading was tepid ahead of a meeting by producer group OPEC that is expected to result in a supply cut aimed at draining a glut that has pulled down crude pr...
NFL great Steve Young's firm settles fraud suit for $100M
New York Post - 6 Dec 2018 02:38
A buyout firm that was co-founded by Pro Football Hall of Fame quarterback Steve Young has settled a high-profile lawsuit that accused it of a massive fraud cover-up, The Post has learned. The truce -- which settles alle...
Will Opec defy Trump's call for low oil prices?
BBC - 6 Dec 2018 02:11
Oil prices recently hit 12-month lows. Opec wants to raise them, President Trump wants them lowered.
China tech exec faces U.S. extradition after arrest in Canada
NBC News - 6 Dec 2018 02:00
The Wall Street Journal reported earlier this year that U.S. authorities are investigating whether Chinese tech giant Huawei violated sanctions on Iran.
Huawei executive arrested in Canada
BBC - 6 Dec 2018 01:03
The US is seeking to extradite the firm's chief financial officer, Canadian authorities say.
Saks Fifth Ave. posts strongest quarterly sales gain since 2013
New York Post - 6 Dec 2018 00:47
Well-heeled shoppers are hoofing it to Saks Fifth Avenue. The luxury department-store chain on Wednesday reported a 7.3 percent gain in its quarterly comparable sales -- its strongest growth since the retailer was bought...
The Ratings Game: RH takes business cues from LVMH, Apple and Berkshire Hathaway
Market Watch - 6 Dec 2018 17:05
RH, which reported earnings that beat expectations, says it takes inspiration from three notable names: LVMH, Apple and Berkshire Hathaway.
Splits deepen as UN climate talks near crunch time
Miami Herald - 6 Dec 2018 17:04
Splits are deepening at the U.N. climate talks between rich and poor countries, oil exporters and vulnerable island nations, and those governments prepared for radical action on climate change versus …
AP sources: Corbin, Nats agree on $140M, 6-year contract
Miami Herald - 6 Dec 2018 17:04
Add Patrick Corbin to the All-Star starting staff the Washington Nationals have assembled. A person familiar with the deal said the left-handed Corbin has agreed to a six-year contract with …
Google's Gradient Ventures leads $7 million investment in Wise Systems to automate routing for shippers
Venture Beat - 6 Dec 2018 17:03
Automated routing and dispatch software company Wise Systems has raised $7 million, with Google's Gradient Ventures leading the round.
How the Arrest of a High-Profile Huawei Executive Could Upend President Trump's Truce with China
Time - 6 Dec 2018 17:00
China promptly reacted with outrage after the news broke
Global stocks slump on China executive arrest, oil spills into OPEC
Reuters - 6 Dec 2018 16:59
Global stock markets slumped for a third day running on Thursday as the arrest of a top executive of Chinese tech giant Huawei in Canada for extradition to the United States fed fears of fresh tensions between the two ec...
U.S. appeals court to hear arguments to stop AT&T purchase of Time-Warner
Reuters - 6 Dec 2018 16:56
The U.S. Justice Department goes before an appeals court on Thursday to urge a three-judge panel to overturn a lower court ruling and order wireless carrier AT&T Inc to undo its $85.4 billion purchase of entertainment co...
Deutsche Bank not raising provisions tied to Danske, Panama: source
Reuters - 6 Dec 2018 16:54
Deutsche Bank will not raise provisions in connection with an investigation into separate money laundering investigations related to the Panama Papers and Danske Bank , a source with direct knowledge of the matter said.
Eddie Lampert offers $4.6 billion to buy Sears out of bankruptcy
New York Post - 6 Dec 2018 16:53
Sears Holdings Chairman Eddie Lampert's ESL Partners LP has submitted a $4.6 billion bid to buy the bankrupt retailer, the hedge fund said on Thursday. Sears, which had filed for bankruptcy protection on Oct. 15, faces a...
Dow Jones industrial average suffers steep drop at open amid trade fears, oil price worries
USA Today - 6 Dec 2018 16:49Sears chairman Eddie Lampert offers to buy Sears out of bankruptcy, including 500 stores
USA Today - 6 Dec 2018 16:48
The chairman and largest investor in Sears Holdings is offering to buy the retailer out of bankruptcy, including 500 of its remaining stores.
Walgreens to link up with FedEx on next-day drug delivery as Amazon nears
Reuters - 6 Dec 2018 16:48
Walgreens Boots Alliance said on Thursday it would partner with FedEx Corp to launch a next-day delivery service for prescription drugs nationwide, giving it a leg up as Amazon threatens to shake-up the sector.
Walgreens expands prescription delivery program nationwide
ABC News - 6 Dec 2018 16:39
Walgreens is joining drugstore competitor CVS Health in expanding home deliveries for prescriptions nationwide, as stores continue adjusting to a retail world being made more customer-friendly by online competition