Teen retailer Forever 21 Inc. plans to file for bankruptcy as soon as Sunday, according to people familiar with the matter, as slow sales, online rivals and changing consumer habits take a rising toll on many bricks-and-mortar chains. But in a statement, Forever 21 said it has no plans to file for
Co. GE 2.01% is giving up majority control of Baker Hughes , BHGE -0.29% selling shares in the oil-field services firm that will raise about $3 billion cash but trigger a more-than-$7 billion accounting charge. GE executives have said they planned to wind down their stake in the business, which GE acquired when it merged its struggling oil
Uber is still bleeding cash, and that’s unfortunately contributing to job cuts. The ridesharing firm has laid off 435 employees in its product and engineering groups, or about 8 percent of the two divisions. The company isn’t shy about the reasoning. In a statement, Uber told TechCrunch that it hired in a “decentralized way” to
Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. China’s exports unexpectedly contracted in August, with sales to the U.S. tumbling amid the escalating trade war between the two nations. Exports decreased 1% in dollar terms from a year earlier, while imports
Bristol-Myers Squibb (NYSE:BMY) isn’t having a great year. The big pharma stock has spent most of 2019 in negative territory. Many investors weren’t happy with the decision to acquire Celgene (NASDAQ:CELG). And BMS has experienced some clinical-study disappointments for its blockbuster cancer drug, Opdivo. But is Bristol-Myers Squibb still a smart pick for long-term investors?
WASHINGTON (Reuters) – U.S. job growth slowed more than expected in August, with retail hiring declining for a seventh straight month, but strong wage gains should support consumer spending and keep the economy expanding moderately amid rising threats from trade tensions. The Labor Department’s closely watched monthly employment report on
Yesterday, the City of New York sued T-Mobile for engaging in fraudulent business practices at its Metro by T-Mobile New York Division stores. Ars Technica reported that the allegations are against Metro for routinely selling used phones as if they were new and charging customers for services they didn’t want or even