Is the Amazon-New York City split up on Valentine’s Day the start of a new trend? Critics of the deal think so. They say it’s the beginning of the end of state and local governments showering companies with billions of dollars in tax breaks and other incentives. “Anything is possible: today was the day a…… MORE
Payless is the latest retail chain to close up shop in the United States. The discount shoe store will close all 2,100 of its locations in the United States and Puerto Rico in the coming months, a spokesperson told CNN Business on Friday. Liquidation sales will begin on Sunday and stores will begin closing in…… MORE
Amazon is putting money into electric trucks. The online retailer led a $700 million investment in Michigan-based electric pickup maker Rivian, the companies said Friday. Rivian unveiled an all-electric pickup and an SUV at the 2018 Los Angeles Auto Show in November and plans to begin production of the vehicles in a factory in Normal,…… MORE
Roger Ng, a former Goldman Sachs banker charged by the US Justice Department for his role in Malaysia’s multi-billion dollar embezzlement scandal, will be sent to the United States to appear in federal court. Ng waived an extradition hearing in Malaysia on Friday, according to his lawyer, Marc Agnifilo. He’ll enter a not guilty plea…… MORE
This is what it looks like when a drug store chain and a health insurer merge. In November, CVS completed its $69 billion acquisition of Aetna, the largest health care deal in history. Now, CVS is piloting three “HealthHub” stores in Houston with a suite of health care services that could be the drug store…… MORE
General Electric is once again downsizing, this time shrinking the scale of its once-ambitious plan for a fancy headquarters along the Boston waterfront. The struggling light bulb and jet engine maker announced on Thursday it ditched a plan to build a 12-story office building in the Fort Point neighborhood of Boston. Instead, GE and Massachusetts…… MORE
Prada has tapped “Selma” director Ava DuVernay and artist Theaster Gates to advise the Italian fashion house on diversity issues after the company released a holiday collection featuring blackface imagery. In December, Prada faced backlash over its Pradamalia line, which included monkey-like figurines with black faces and large red lips. When civil rights attorney Chinyere…… MORE
The double-decker A380 was loved by passengers, aviation enthusiasts and executives at Airbus. But the world’s largest commercial plane never won over the group that really mattered: airlines. Airbus pulled the plug on its superjumbo program on Thursday, announcing that it would deliver the final A380s to airlines such as Emirates by 2021. The decision…… MORE
Airbus is ending the A380 program, pulling the plug on its iconic superjumbo jet that once promised to revolutionize commercial air travel but failed to deliver on outsized expectations. The European plane maker said Thursday that it will stop delivering A380s in 2021 after Dubai-based airline Emirates slashed its orders for the huge jetliner. “We…… MORE
Levi Strauss plans to hit the public market for the first time in 34 years, a promising sign for a troubled retail sector. The 165-year-old company, which invented the blue jean, filed for an IPO on Wednesday. Levi’s said it could raise up to $100 million in the public offering, and will be listed on…… MORE
