Toys ‘R’ Us seeks to halt vendor payments ahead of liquidation
(Reuters) – Toy retailer Toys ‘R’ Us Inc on Thursday asked the U.S. Bankruptcy Court for approval to stop paying all of its suppliers while it tries to line up buyers for its international business ahead of a planned liquidation of its U.S. operations….
Wells Fargo CEO defends pay; calls U.S. Senator Warren’s criticism ‘inappropriate’
DETROIT (Reuters) – Wells Fargo & Co Chief Executive Tim Sloan on Thursday defended a 35 percent gain in his latest compensation package, while describing comments last year by Democratic U.S. Senator Elizabeth Warren, who had called for his ouster, as “inappropriate.”
S&P turns lower on news of Mueller subpoena
NEW YORK (Reuters) – The S&P 500 turned lower on Thursday on a report that U.S. Special Counsel Robert Mueller had issued a subpoena for documents related to U.S. President Donald Trump’s businesses, reinforcing the picture of turmoil in the White House.
Whistleblower says Walmart, eyeing Amazon, cheated on e-commerce
(Reuters) – Walmart Inc was sued on Thursday by a former executive who accused the world’s largest retailer of issuing misleading e-commerce results, amid growing pressure from Amazon.com Inc , and firing him for complaining about it.
Ford will speed shift to SUVs to boost profit, shares
DEARBORN, Mich. (Reuters) – Ford Motor Co executives on Thursday disclosed ambitious plans to shift the struggling automaker’s product portfolio from passenger cars to SUVs, add more hybrid and pure electric vehicles, and reduce development and manufa…
Toys ‘R’ Us closure leaves void for suppliers, endangers 30,000 jobs
(Reuters) – Iconic toy retailer Toys ‘R’ Us Inc will shutter or sell its stores in the United States after failing to revamp its struggling business, putting 30,000 jobs at risk and leaving a void for vendors who supplied the company with $11 billion w…
AT&T/Time Warner U.S. merger trial delayed two days: source
(Reuters) – The trial to determine whether AT&T Inc’s purchase of Time Warner Inc is legal under U.S. antitrust law will be delayed two days because of scheduling issues, a person familiar with the situation said on Thursday.
Mexican minister ramps up pressure for speedy NAFTA deal
SAO PAULO (Reuters) – Mexico’s economy minister on Thursday urged officials to push for a speedy renegotiation of the North American Free Trade Agreement (NAFTA), saying his country and Canada must be ready to go it alone if the United States pulls out…
Goldman Sachs sees reshaping of industries driving M&A
NEW ORLEANS (Reuters) – Major shifts in industries ranging from semiconductors and food to beverages and pharmaceuticals will keep fueling the blistering pace of mergers and acquisitions, one of Goldman Sachs Group Inc’s top dealmakers said on Thursday…
Dow gains as trade war worries ebb on Navarro’s comments
(Reuters) – The Dow Jones Industrial Average added more than 200 points on Thursday as industrial stocks gained after the White House trade adviser sought to play down chances of a trade war due to protectionist policies.
