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Thread: The business news thread

  1. #111
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    Donald Trump today announced plans to impose 25% tariffs on steel imports and 10% tariffs on aluminum imports -- and fears of Trump leading us into a trade war caused the Dow to lose 420 points (1.7%).

    Trump announces plans for heavy tariffs on steel and aluminum imports, inviting a trade war with China

    http://www.latimes.com/business/la-f...301-story.html

  2. #112
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    This is from Bloomberg -- and I can't say I'm sorry about iHeart's bankruptcy. Cox, Cumulus, iHeart, Alpha Media, Townsquare Media and other gigantic broadcasting corporations have destroyed live-and-local radio.

    iHeartMedia prepares for bankruptcy as soon as this weekend
    Documents are circulating without an accord on restructuring.

    https://www.bloomberg.com/news/artic...s-this-weekend

  3. #113
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    I suppose this story counts as "business news." It also counts as "child endangerment."

    McDonald's forces teen to eat outside in freezing cold for wearing her school uniform
    Business Insider, Mar 2 2018 6:14 AM

    The UK is in the grip of a dramatic cold snap this week. Despite this, McDonald's forced a 14-year-old student to eat her food outside because she was wearing her school uniform. Lucy Haffenden and an unnamed friend were asked by staff at a McDonald's branch in Erith, south London, to eat their cheeseburgers outside Monday afternoon. Temperatures in London hovered between 0 and -4 degrees Celsius (32 to 25 Fahrenheit) that day. McDonald's acknowledged the incident and said it was enforcing a blanket ban on children in uniform eating in the restaurant, regardless of the weather.

    https://www.aol.com/article/finance/...-mcd/23375183/

  4. #114
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    An entire restaurant chain has gone out of business! All one location of it!

    Chipotle closes its only burger restaurant, Tasty Made, in Lancaster, Ohio

    https://www.usatoday.com/story/money...hio/390082002/

  5. #115
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    An increasing number of people are shunning Foot Locker and other shoe stores and buying shoes from Amazon and other online sellers. Wouldn't it be more sensible to purchase shoes from a real store where you can try them on to make sure they fit properly?

    Foot Locker is closing 110 more stores
    Business Insider, Mar 2 2018 4:26 PM

    Foot Locker announced today that it plans to close 110 stores this year and open about 40 new stores. "We continue to prune the fleet of under-productive stores and open a few select, high-profile stores," CFO Lauren Peters said in a call with investors. Foot Locker closed 147 stores globally in 2017. The retailer also opened 94 new locations, bringing the retailer's store count to 3,310 around the world.

    https://www.aol.com/article/finance/...n-fl/23375619/

  6. #116
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    Who knows? They might turn out to be safer than the taxis on our city streets -- and faster, too.

    Boeing CEO Dennis Muilenburg believes flying taxis will be ready in the next decade

    http://www.latimes.com/business/la-f...303-story.html

  7. #117
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    Donald Trump, who declared that "trade wars are good and easy to win," said he will impose huge tariffs on imported steel and aluminum. Then Europe threatened to impose huge tariffs on goods imported from the US. And now, one threat has led to another:

    Trump vows to tax European car imports if the EU fights back with tariffs on US goods

    http://www.usatoday.com/story/news/w...ble/391805002/

  8. #118
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    When do I know an insurance company is overcharging for insurance? When they have an extra $15.3 billion to spend.

    AXA, Europe's second-largest insurer, buys Bermuda-based XL Group for $15.3 billion

    https://www.reuters.com/article/xl-g...-idUSL5N1QN0O3

  9. #119
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    Lacoste made 1,775 shirts depicting endangered animals. They quickly sold out -- the shirts, not the animals -- and the proceeds went to the International Union for Conservation of Nature. A very nice gesture by Lacoste.

    French clothing brand Lacoste temporarily replaces crocodile logo with images of ten endangered species

    http://www.msn.com/en-us/news/offbea...ies/ar-BBJSqxD

  10. #120
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    This is from Talkers.com, March 5. I've read this five times and I still can't understand it. It's a thousand times more confusing than the Groucho-and-Chico contract scene from A Night At The Opera. A Reader's Digest editor could probably condense all this into a single sentence:

    iHeartMedia gets breathing room to settle debt issue

    Industry watchers were expecting iHeartMedia to file for Chapter 11 bankruptcy protection over the weekend as the default on a missed $103 million payment on 14% Senior Notes was about to kick in. That didn’t happen and iHeart announces that yesterday it "and certain lenders party thereto (the 'Consenting Lenders') entered into a Forbearance Agreement (the 'Forbearance Agreement'), with respect to the Credit Agreement, dated May 13, 2008, as amended and restated February 23, 2011 (as further amended or supplemented from time to time, the 'Credit Agreement'), among iHeartCommunications, as the parent borrower, the subsidiary co-borrowers and foreign subsidiary revolving borrowers party thereto, iHeartMedia Capital I, LLC, as a guarantor, Citibank, N.A., as administrative agent, swing line lender and letter of credit issuer, and the other lenders from time to time party thereto.

    The Consenting Lenders constitute the lenders required under the Credit Agreement to grant a forbearance. Pursuant to the Forbearance Agreement, the Consenting Lenders agreed to temporarily forbear from accelerating the obligations under the Credit Agreement or otherwise exercising any rights or remedies thereunder as a result of any actual or prospective event of default under Section 8.01(e) of the Credit Agreement resulting from iHeartCommunications’ failure to make an interest payment beyond the applicable grace period with respect to its 14% Senior Notes due 2021 that was originally due on February 1, 2018.

    The forbearance became effective upon all parties’ execution thereof and will terminate immediately and automatically upon the earliest to occur of (i) March 7, 2018 at 11:59 pm Central time and (ii) an event of default under the Credit Agreement other than those that resulted in the entry into the Forbearance Agreement (the 'Forbearance Period')."

    http://www.talkers.com

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