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Thread: The business news thread

  1. #291
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    Brookstone went through a bankruptcy in 2014 and was purchased by two Chinese companies: Sailing Capital and Sanpower. The chain is bankrupt once again and will close all 101 of its mall locations but retain its 35 stores at airports -- because, goshdarnit, when you arrive in Los Angeles after a 13-hour plane flight from Berlin, you've just gotta buy one of those remote-control helicopters.

    Brookstone in Chapter 11 bankruptcy, to close all its mall stores

    https://www.cbsnews.com/news/brookst...s-mall-stores/

  2. #292
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    Children used to give apples to their school teachers. Nowadays, I'm sure the teachers would prefer shares of Apple stock.

    Apple is the world's first publicly traded trillion-dollar company

    http://www.latimes.com/business/la-f...802-story.html

  3. #293
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    Amazon will no longer sell products with Nazi symbols. That's commendable and it's a nice public-relations move but it will not lessen the racism, bigotry, prejudice and white nationalism that are staining our nation. By the way, the swastika dates from around 6000 BCE and was originally a religious symbol and a design used on pottery and in artwork. In the 1930s, the Nazi Party adopted the swastika as their symbol, forever stigmatizing the image.

    Amazon removes products featuring Nazi and white nationalist symbols

    https://www.nytimes.com/2018/08/02/t...premacist.html

  4. #294
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    Another day, another bankruptcy.

    Parent of Fallas retail chain files for bankruptcy, will close dozens of stores
    Los Angeles Times, Aug 6 2018 12:20 PM

    The Gardena-based parent company of the retail chains Fallas and Anna’s Linens said Monday it filed for bankruptcy reorganization and plans to close 74 of its 344 stores. National Stores Inc., a family-owned firm operating in 22 states and Puerto Rico, said the bankruptcy filing was due to certain underperforming stores and severe weather in various regions that hurt sales.

    http://www.latimes.com/business/la-f...806-story.html

  5. #295
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    During her 12 years as PepsiCo CEO, Nooyi oversaw new packaging designs, imposed water conservation measures, introduced Mountain Dew Kickstart and the Pepsi Spire touchscreen soda dispenser and reduced the amount of salt and sugar and fat in several products. Sales rose 80% during her tenure.

    PepsiCo CEO Indra Nooyi, one of the most prominent women to lead a Fortune 500 company, will step down on October 3

    https://money.cnn.com/2018/08/06/new...ico/index.html

  6. #296
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    Shareholders were to vote tomorrow on the $24-billion Albertsons-Rite Aid merger announced in February. They won't get the chance. The deal has been called off.

    Rite Aid and Albertsons agree to terminate their merger agreement

    https://www.msn.com/en-us/money/comp...GhNE?ocid=AMZN

  7. #297
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    Blue Ribbon Sports was founded in 1964 in Oregon, In 1971, the company changed its name to Nike, after the Greek goddess of victory. I wonder if she will help these four ex-employees win their lawsuit.

    Nike hit with class-action lawsuit
    The Oregonian, Aug 10 2018

    Four women are suing Nike, claiming their former employer has for years perpetuated a culture of unequal compensation and sexual harassment. The class-action lawsuit, filed Thursday in the US District Court in Portland, is among the first to hit the Washington County company since a wave of complaints about pay disparities and bullying managers became public earlier this year. In response, the company parted ways with at least 11 executives in March and April, though it never publicly accused them of anything.

    The plaintiffs accuse Nike of violating the Federal Equal Pay Act, the Oregon Equal Pay Act and the Oregon Equality Act. They don't ask for specific monetary damages. Rather they seek a court order requiring Nike to pay its employees fairly without regard to gender.

    https://www.oregonlive.com/business/...on_nike_w.html

  8. #298
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    Bayer bought Monsanto two months ago and now Bayer -- ahem -- has a big headache. More than 5,000 lawsuits have been filed against Monsanto over the link between glyphosate-based weedkilers and cancer.

    Bayer shares plunge 14% after Monsanto is ordered to pay $289 million in lawsuit over Roundup weedkiller's cancer link

    https://www.cbc.ca/news/business/bay...ndup-1.4783530

  9. #299
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    The Kroger Company owns Kroger, Ralphs, Fred Meyer, Smith's, Dillons, Food 4 Less and several other supermarket chains. It is the United States' second-largest retailer. (Walmart is first.) Starting tomorrow, the Kroger Company will be selling 杏仁 and 维生素 in 中国.

    Kroger partners with Alibaba in China grocery sales venture
    Reuters.com, Aug 14 2018

    The Kroger Company has partnered with Alibaba Group Holding to sell nuts, supplements and other products in China, venturing outside the United States for the first time in what is fast becoming a fierce global battle to dominate online grocery sales. Kroger will sell its Simple Truth brand products on the e-commerce firm’s Tmall Global virtual storefront "to meet Chinese consumers’ growing demand for high-quality, organic food products," an Alibaba spokesman told Reuters today.

    https://www.reuters.com/article/us-k...KBN1KZ256?il=0

  10. #300
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    Best Buy is making a big buy as it expands into health and wellness products and services. Shares of Best Buy (BBY) closed today at $76.91, a gain of 54¢ (0.71%).

    Best Buy is acquiring GreatCall for $800 million
    Los Angeles Times, Aug 16 2018 2:00 PM

    Best Buy is acquiring GreatCall, which provides mobile phone and connected health services to seniors, for $800 million in cash. The deal furthers the nation’s top electronics retailer’s strategy of selling more health and wellness products. Minnesota-based Best Buy is focusing on technology and services targeting an aging population.

    Founded in 2006 in San Diego, GreatCall has about 900,000 subscribers nationwide for its mobile services tailored for the elderly and their family caregivers, including Jitterbug mobile phones. GreatCall also provides healthcare/medication reminder apps, 5Star emergency response, 24/7 access to a nurse or doctor and other services via a senior-centric wireless plan. In addition, the company offers wearable emergency response devices.

    http://www.latimes.com/business/la-f...815-story.html

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