Coverage: Hedge fund run by Sears CEO wants to buy retailer’s assets
ESL Investments, the hedge fund led by Sears Holdings CEO Eddie Lampert, is proposing to buy the Kenmore brand, Sears’ home improvement business, its PartsDirect division and some of the chain’s real estate. Lauren Thomas of CNBC.com had the news: The Florida-based firm said it believes the value of Sears’ businesses are not being reflected in the capital […]
Talking Biz News Today — April 24, 2018
Some of Tuesday’s top business news stories: Associated Press U.S. brands suffer collateral damage in Chinese corporate war, by Erika Kinetz Trump likes coal, but that doesn’t mean he’s hostile to wind, by Steve LeBlanc Bloomberg Yields approaching 3% are good news for dollar bulls, by Katherine Greifeld Alphabet sales growth tops forecasts while spending surges, by Mark Bergen […]
Coverage: Wells Fargo is fined $1 billion
Federal regulators slapped Wells Fargo & Co. with a penalty of $1 billion on Friday, punishing the San Francisco bank for abuses that harmed mortgage and auto loan borrowers. James Rufus Koren of the Los Angeles Times had the news: The penalty, announced by the Office of the Comptroller of the Currency and the Consumer Financial […]
Talking Biz News Today — April 23, 2018
Some of Monday’s top business news stories: Associated Press China auto show highlights industry’s electric ambitions, by Joe McDonald Mnuchin expresses optimism trade standoffs can be resolved, by Paul Wiseman and Martin Crutsinger Bloomberg $7 million of wine sold at massive burgundy auction, by Guy Collins Bond traders’ respite from flattening curve may prove fleeting, by Brian Chappatta Fortune Harley-Davidson is […]
Coverage: Philip Morris tanks on lower cigarette sales
Shares in the cigarette giant Philip Morris International plunged as much as 18 percent after its latest earnings report showed that $4.5 billion spent on four new products are failing to win over new customers. Jennifer Kaplan of Bloomberg News had the story: Philip Morris, which sells Marlboros outside the U.S., reported revenue excluding excise taxes […]
Talking Biz News Today — April 20, 2018
Some of Friday’s top business news stories: Associated Press Mattel CEO to step down after being at helm for 14 months, by Anne D’Innocenzio IMF’s Lagarde: Trade tensions threaten global economy, by Martin Crutsinger and Paul Wiseman Bloomberg U.S. weighs emergency measures to curb tech investments by China, by Saleha Mohsin Wells Fargo dropped by teachers union over ties to […]
Coverage: Amazon Prime passes 100 million subscribers
Amazon CEO Jeff Bezos disclosed in his annual shareholder’s letter for the first time that Prime now exceeds 100 million members worldwide. Eugene Kim of CNBC.com had the news: In 2017 alone, Amazon added more Prime members than any prior year, and shipped over five billion items through the paid membership service worldwide, he said. Amazon […]
Talking Biz News Today — April 19, 2018
Some of Thursday’s top business news stories: Associated Press Starbucks incident highlights peril of shopping while black, by Errin Haines Whack Stocks ends modestly higher as earnings come in; oil surges, by Alex Veiga Bloomberg Trump’s SEC proposes rewrite of Obama-era broker conflict rules, by Benjamin Bain Odd spike in Wall Street fear gauge awakens manipulation debate, by Luke […]
Coverage: Housing starts rise faster than expected in March
U.S. homebuilding rose more than expected in March amid a rebound in the construction of multi-family housing units, but weakness in the single-family segment suggested an acute shortage of homes for sale will likely persist. Lucia Mutikani of Reuters had the news: Other data on Tuesday showed a solid increase in industrial production last month as […]
Talking Biz News Today — April 18, 2018
Some of Wednesday’s top business news stories: Associated Press IRS payment site fails on tax day, extensions to be granted, by Sarah Skidmore Sell Starbucks to close stores for an afternoon of bias training, by Alexandra Olson and Joseph Pisani Bloomberg Tesla shifts Model 3 production to 24/7 as Musk hikes output, by Dana Hull Death on Southwest plane […]
