Retailers looking to get Americans off e-commerce sites and into physical stores this holiday season may be relying on Santa Claus more than ever. Department stores, such as Kohl’s, have struggled to bring post-Thanksgiving shoppers into their brick-and-mortar locations so far this year. A handful of big-box behemoths, including Walmart, Target and Best Buy, gobbled…… MORE
If big banks held marriage ceremonies to celebrate their mergers, Elizabeth Warren would be the first one to shout, “I object!” Warren fears these tie-ups will create Too-Big-To-Fail institutions like those at the heart of the 2008 financial crisis. That’s why the 2020 Democratic presidential candidate plans to introduce legislation that takes direct aim at…… MORE
Karen McDougal, a former Playboy model who said she had an affair with Donald Trump before he was elected President, filed a lawsuit Thursday against Fox News alleging the news organization defamed her. In the lawsuit, which was filed in a New York state court, McDougal accused host Tucker Carlson of acting with a “reckless…… MORE
Beyond Burger fans can now buy fake meat in bulk. Beyond Meat will begin selling its plant-based burgers at Costco. To match Costco customers’ love for big sizes, Beyond Meat will — for the first time — sell an eight-pack of patties for $14.99. The burgers are typically sold in packs of two. The burgers…… MORE
Saudi Arabia has just pulled off the biggest initial public offering in history, raising $25.6 billion by selling shares in its giant state-owned oil monopoly. Saudi Aramco sold 3 billion shares at 32 riyals ($8.53) each in its IPO, the company said Thursday. That means the deal raised more than China’s Alibaba in its 2014…… MORE
Macy’s can’t catch a break. The struggling department store chain’s stock is down nearly 50% this year. And now it is losing a top executive to a farming supplies chain. Hal Lawton, a veteran of eBay and Home Depot who only joined Macy’s as president in September 2017, said Thursday that he’s leaving to become…… MORE
Dollar General remains one of the fastest-growing retailers in America, attracting customers with rock-bottom prices on snacks and household goods. It’s so confident in that strategy that it plans to open 1,000 new stores in 2020, just as it has for the past several years. The company tightened its grip on shoppers during the most…… MORE
The trade war continues to pinch profits for Jack Daniel’s owner Brown-Forman. But the company has been able to eat the expense. Brown-Forman said Thursday its sales and earnings topped forecasts, even though it’s paying the costs of higher tariffs from the European Union and China without passing them onto customers by raising prices. CEO…… MORE
General Motors and LG Chem announced plans for a $2.3 billion factory to build batteries for electric cars. The factory will be near the site of GM’s closed Lordstown assembly plant in Ohio. The joint venture will employ 1,100 workers. During the recent contract talks with the United Auto Workers union during the GM strike,…… MORE
October wasn’t a great month for American jobs. But a large General Motors strike has ended, and the US labor market is expected to have found its footing again. Well, a little bit, anyway. Economists surveyed by Refinitiv expect the US economy added 180,000 jobs in November. That’s up from 128,000 in the prior month,…… MORE
