L Brands, an American fashion retailer that own Victoria’s Secret and Bath & Body Works, announced today that it was closing all 23 Henri Bendel stores, including the Fifth Avenue Manhattan flagship, and the Bendels website to boot, to “focus on increasing shareholder value.” The store was essentially founded in 1895, when Henri Bendel moved […]
WASHINGTON—Jeff Bezos, facing political backlash over Amazon.com Inc.’s growing market dominance, said Thursday that while big companies deserve to be scrutinized, politicians shouldn’t “vilify” them. Mr. Bezos, Amazon’s boss and the world’s wealthiest person, addressed the antitrust concerns in a wide-ranging and rare public interview hosted by the Economic Club in Washington, D.C. Interviewed by […]
David Solomon is assembling his inner circle as he prepares to take the helm at Goldman Sachs Group Inc., replacing the bank’s chief financial officer and installing a longtime lieutenant as his top deputy. Goldman on Thursday named John Waldron as its president and chief operating officer and Stephen Scherr as its new finance chief, […]
SINGAPORE (Reuters) – Oil prices fell on Thursday, reversing some of the strong gains from the previous session, as economic concerns raised doubts about ongoing fuel demand growth. FILE PHOTO: A pump jack operates at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File Photo U.S. West Texas Intermediate (WTI) […]
U.S. producer prices unexpectedly fell in August, recording their first drop in 1-1/2 years, as declines in the prices of food and a range of trade services offset an increase in the cost of energy products. The Labor Department said on Wednesday its producer price index for final demand slipped 0.1 percent last month after […]
The Federal Communications Commission paused its informal 180-day clock for reviewing T-Mobile US . TMUS 0.53% Inc.’s takeover of Sprint Corp. S 0.50% , saying it needs more time to consider information the wireless carriers have provided. The agency, which started its formal review about 60 days ago, said it is taking more time to […]
Alibaba’s Jack Ma speaks to Kirill Dmitriev, the head of the RDIF, at the Eastern Economic Forum (EEF) in Vladivostok, Russia. Chinese e-commerce giant Alibaba signed a new strategic partnership with a number of Russian firms Tuesday, which will form a new e-commerce platform and utilize Russia’s own payments system. The deal includes the sovereign wealth […]
Imran Khan, Snap’s chief strategy officer and one of the few executives remaining at the struggling company since its 2017 public offering, is stepping down. On Monday, the company said in a regulatory filing that Mr. Khan would remain at the company until his replacement is hired. Afterward, he is expected to set up a […]
The rupee on Monday slumped to a fresh record low of 72.18 by falling 45 paise against the U.S. dollar on strong demand for the U.S. currency from importers as the greenback strengthened against other currencies overseas on upbeat jobs data. At the Interbank Foreign Exchange (Forex) market, the local currency opened at record low […]
Emerging market stocks, last year’s darlings, are collapsing. does this mean the bubbles of an artificially inflated market are finally bursting? it’s a question worth asking a decade on from 2008. As every Financial Times reader knows, the world’s central bankers were responsible for ensuring that the Great Recession did not become another Great Depression […]
