Lord & Taylor, known for its upscale fashions and extravagant holiday window displays, sought bankruptcy protection from creditors after a turnaround effort faltered amid the coronavirus pandemic.The oldest U.S. department store filed for Chapter 11 protection in Richmond, Virginia, on Sunday and...
There's no reason to bury the lede. Amazon (NASDAQ:AMZN) just had its best quarter ever, posting record revenue and profits on blowout growth as the company became essential during the pandemic. Coming into the second-quarter report, there were a number of signs...
South Korean giant Samsung, Apple’s contract manufacturing partners Foxconn, Wistron and Pegatron, and Indian smartphone vendors Micromax and Lava among others have applied for India’s $6.6 billion incentive program aimed at boosting the local smartphone manufacturing, New Delhi said on Saturday.
Mega-cap technology stocks have driven the Nasdaq and S&P 500 higher while, like a shiny veneer, they’ve masked broader stock market weakness. But there’s reason to believe that the covering may soon come off as mega-caps turn into a...
Fitch has lowered the outlook for its U.S. government credit rating to “negative” from “stable” due to soaring budget deficits, but the agency is keeping its overall rating at the highest AAA level. Fitch said Friday that the downgraded...
Exxon said on Friday that it lost $1.1 billion during the second quarter amid “global oversupply and COVID-related demand impacts.” It was the oil giant’s second straight quarter of losses. The company lost 70 cents per share on an...
David Heinemeier Hansson said he was “smiling broadly” by the end of Congress’ grilling of the four Big Tech CEOs this week. “I was frankly blown away,” said Heinemeier Hansson, co-founder of Basecamp, a central figure in a noisy...
Apple, the maker of iPhones, has toppled the world's biggest company in value, despite the coronavirus pandemic. Friday, Apple's stock closed at an all-time high of $425 and change with a market cap of $1.8 trillion, as tracked by...
President Donald Trump plans to announce a decision ordering China’s ByteDance Ltd. to divest its ownership of the music-video app TikTok, which is popular with U.S. teens, according to people familiar with the matter. The U.S. has been investigating...
Apple CEO Tim Cook, coming off a blowout quarterly report, is confident the U.S. economy can have a healthy recovery. "I'm still bullish because we went into this very strong. And I think, I think more stimulus is required,...
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