Sears Soars After CEO Assures Investors He Can Fix Business
Sears Holdings Corp. rose the most in more than two years after Chief Executive Officer Eddie Lampert vowed to fix the troubled retailer, saying he would lower its debt burden and cut annual expenses by at least $1 billion.The cost savings will be part of a push to reduce overhead and more tightly integrate the Sears and Kmart operations, the company said on Friday. Lampert, 54, also plans to slash debt and pension obligations by $1.5 billion.“We are initiating a fundamental restructuring of ou..>> view original"The Rock" joins critics of Under Armour CEO's Trump remark
BALTIMORE - Actor Dwayne “The Rock” Johnson and professional ballerina Misty Copeland have joined basketball star Stephen Curry in criticizing the CEO of sports apparel company Under Armour for praising President Donald Trump.Kevin Plank, the CEO of Baltimore-based Under Armour, called Trump “an asset to the country” in an interview with CNBC this week. Under Armour sponsors Johnson, Copeland and Curry, who plays for the Golden State Warriors. Johnson sent out a statement on social media on Thu..>> view originalReckitt finalizes deal to buy Mead Johnson for $16.6 billion
Reckitt Benckiser has agreed to buy U.S. baby formula maker Mead Johnson Nutrition for $16.6 billion, giving the British consumer goods company a new product line and expanding its presence in developing markets. Reckitt, the maker of Lysol cleaners, Durex condoms and Mucinex cold medicine, said on Friday it will pay $90 in cash for Mead Johnson shares, a 30 percent premium to their closing price the day before Reckitt said it was in advanced talks with the maker of Enfamil baby formula. Inclu..>> view originalDo You Need to Worry About Trump's Reforms? It Depends
First up: Mr. Trump’s executive order, signed last Friday, to roll back Dodd-Frank.Though Mr. Trump’s recent executive order on immigration has received far more attention, the financial reforms proposed by the president would affect millions more Americans than any travel ban. Even small changes in our nation’s financial laws are likely to touch everything from how much we pay in credit card fees to whether we can get a mortgage. They will also influence the odds of another financial meltdown...>> view originalBlackstone to acquire Aon's benefits outsourcing business for $4.8 billion: Sources
Insurance broker Aon said on Friday it agreed to sell its benefits administration and HR BPO platform to private equity firm Blackstone for $4.3 billion in cash. Aon could get up to $500 million more based on future performance, as part of the deal. London-headquartered Aon said it expected the deal to improve its return on invested capital and add to adjusted earnings per share in 2018. Proceeds from the deal after tax are expected to be about $3 billion, subject to customary working capital ..>> view originalDow, S&P and Nasdaq hit fresh record highs as Trump trade resurges
Nevertheless, other asset classes also reacted to Trump's remarks. Treasury yields and the dollar gained ground and continued trading higher on Friday. The U.S. dollar rose 0.3 percent against a basket of currencies, with the euro near $1.062 and the yen around 113.63. In the bonds market, the benchmark U.S. 10 yield rose to trade at 2.427 percent, while the short-term two-year yield hovered around 1.2 percent. Gold prices, meanwhile, took a hit and kept on reeling Friday, with gold futures for..>> view originalWhite House says Conway has been 'counseled' after touting Ivanka Trump's products
The White House on Thursday said that a top adviser to President Trump had been “counseled” after using a television appearance from the West Wing to promote the clothing and jewelry line sold under the brand of Trump’s daughter. The endorsement, in which Kellyanne Conway told Fox News Channel viewers to “go buy Ivanka’s stuff,” appeared to violate a key ethics rule barring federal employees from using their public office to endorse products. The White House reaction was a rare acknowledgment o..>> view originalAnalysis: Why Whole Foods is now struggling
Organic food has never been so popular among American consumers. Ironically, that's bad news for the brand that made organic a household name — namely, the Austin, Texas-based Whole Foods.On Wednesday, Whole Foods reported what is arguably its worst performance in a decade, announcing its sixth consecutive quarter of falling same-store sales and cutting its outlook for the year. The company is closing nine stores, the most it has ever closed at one time. A mere 16 months ago, Whole Foods predic..>> view originalManagement Chimes in on Twitter, Inc.'s Fourth-Quarter Earnings
On the key metrics investors watch closest, Twitter (NYSE:TWTR) just totally missed the mark. In its fourth quarter, revenue growth nearly flatlined and monthly active user growth decelerated. In the aftermath of the social network's underwhelming fourth-quarter performance, the Street punished Twitter stock, sending shares about 12% lower on Thursday. But management has its own view of how the company is doing -- and it's a bit more optimistic. Here are some of the key takeaways from managemen..>> view originalJapan's love of tiny cars sore spot as Trump, Abe meet
By Naomi Tajitsu, Norihiko Shirouzu and Bernie WoodallTOKYO/DETROIT (Reuters) - When Japanese Prime Minister Shinzo Abe meets on Friday with U.S. President Donald Trump, Japan's bulging automotive trade surplus will be a sore spot, but the path to balancing auto exports and imports will be no easier than it was in the 1980s.Trump may press Abe to do more to level the trade imbalance with Japan during a White House visit or a round of golf, but the two leaders are unlikely to change the fact that..>> view original
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