Thursday March 21-st, 2019

Gap to split off Old Navy; 230 stores to close Gap to split off Old Navy; 230 stores to close

The stock surged on the news in after-hours trading on Wall Street. "It's clear that Old Navy's business model and customers have increasingly diverged from our specialty brands over time, and each company now requires a different strategy to thriv...

Trump Delays China Tariffs; Currencies Gain Ground Trump Delays China Tariffs; Currencies Gain Ground

Trump's conflicting comments on the status of the talks have added to the uncertainty, said Jingyi Pan of IG. "We expect more U.S. crude to come to China as a result of Beijing's promise to increase United States energy imports", a Beijing-based tra...

US Fed to announce plan on balance sheet runoff US Fed to announce plan on balance sheet runoff "fairly soon": Powell

Powell's prepared testimony to the committee is identical to the testimony he delivered Tuesday before the Senate Banking Committee. "If that becomes concerted, I think it does have the impact, especially if conditions in the US for any reason were...

U.S., China trade talks still need heavy work to reach deal U.S., China trade talks still need heavy work to reach deal

If the USA gave a significant amount of ground to the North Koreans in order to score a "win" and strike a deal, it would likely have emboldened China's negotiators to hold out against what many Chinese officials regard as unreasonable US demands.

GDP Grows Above-Forecast 2.6 Percent as Business Spending Picks Up GDP Grows Above-Forecast 2.6 Percent as Business Spending Picks Up

Ian Shepherdson, chief economist at Pantheon Macroeconomics , said that the fourth quarter was "not a bad performance" given that the economic boost from the Trump administration's tax cuts is now fading. The growth figures had originally been due t...

More Than 500K Hyundai, Kia Vehicles Recalled For Possible Engine Fires More Than 500K Hyundai, Kia Vehicles Recalled For Possible Engine Fires

US safety regulators have been investigating Hyundai and Kia engine failures since May of 2016. In addition, the companies are doing a "product improvement campaign" covering another 3.7 million vehicles to install software that will alert drivers ...

Compliments brand chicken nuggets being recalled Compliments brand chicken nuggets being recalled

WATCH: What's really in a Chicken Nugget? Affected Compliments brand products had a best before date of July 18, 2019 and were sold in every province and territory except for Quebec. There have been 90 people hospitalized and three have died, as p...

Victoria Secret closing more than 50 stores in North America this year Victoria Secret closing more than 50 stores in North America this year

The store announced that rising costs and plateauing sales mean that the brand was down by 45 percent for the 2018 fiscal year. Dozens of Victoria Secret stores in North America are facing foreclosure, following the lingerie chain's recent poor fi...

Martha Stewart partners with Canopy Growth to develop CBD products Martha Stewart partners with Canopy Growth to develop CBD products

Shares in Sequential surged on the news. Canopy Growth says it will use Stewart's knowledge of consumer products while exploring the effectiveness of hemp-derived CBD and other cannabinoids as they relate to both humans and animals. Demand for ma...

Home Depot, Caterpillar weigh on futures; Fed testimony awaited Home Depot, Caterpillar weigh on futures; Fed testimony awaited

Those declines can ripple out to companies that sell materials like Home Depot and its rival, Lowe's, whose stock slid in tandem with Home Depot on Tuesday. Swiss National Bank now owns 4,045,615 shares of the home improvement retailer's stock worth ...

USA economy slows in fourth quarter, growing at 2.6 percent rate

Capital Economics chief United States economist Paul Ashworth said he expected growth of 2.2% this year and 1.2% in 2020. Although GDPNow, a real-time tracker monitored by the Federal Reserve Bank of Atlanta, initially forecast growth of 2.8 percen...

Man plans to swap out a nursing home for the Holiday Inn Man plans to swap out a nursing home for the Holiday Inn

He noted they have a spa, swimming pool, a workout room, a lounge and washer-dryer. Terry Robison , 64, who is listed as a producer/director at Scarlet Tye Films, shared his novel thought about retirement in a now viral Facebook post . The locati...

Sensex falls over 200 pts after Pakistan violates Indian air space Sensex falls over 200 pts after Pakistan violates Indian air space

The development came after Pulwama incident in Indian-occupied Kashmir (IOK). The rupee, meanwhile, depreciated 25 paise to 71.32 after touching a low of 71.49 against the dollar (intra-day). Domestic institutional investors sold equities to the tu...

Boeing wins $15.7 billion Vietnam orders on Trump’s Hanoi visit Boeing wins $15.7 billion Vietnam orders on Trump’s Hanoi visit

Mr Trump said Cohen "lied a lot" during Congressional testimony in Washington today, though he had told the truth when he said there had been "no collusion" with Russian Federation. The official also assumed that the United States and North Korea wou...

Christian MP Fiona Onasanya freed after one month in jail Christian MP Fiona Onasanya freed after one month in jail

On January 29, the politician was sentenced to three months for perverting the course of justice , having lied to police in an attempt to avoid a speeding ticket. The Peterborough Telegraph reported that Ms Onasanya's communications officer Matt Tur...

Polestar 2 EV Revealed With 402HP, 78kWh Battery, 275 Miles Of Range Polestar 2 EV Revealed With 402HP, 78kWh Battery, 275 Miles Of Range

For that price subscribers will get "a premium five-door fastback" based on Volvo's Compact Modular Architecture and powered by a 78kWh battery and two electric motors. Couple that with the electric powertrain and the inside of the Polestar 2 shoul...

Saudi Arabia defiant on oil cuts after Trump tells OPEC to 'relax' Saudi Arabia defiant on oil cuts after Trump tells OPEC to 'relax'

In fact, in an apparent rebuke of the president, Saudi Arabian Energy Minister Khalid Al-Falih said yesterday that oil inventories in the US are "brimming", and reducing that glut remains the main goal for the group, adding that the kingdom plans fur...

Adorable Honda e Prototype EV heads to production Adorable Honda e Prototype EV heads to production

The latest iteration of the automaker's vision for an electric city vehicle, the 2019 descendent of 2017's much-loved Urban EV Concept is shaping up to be very special indeed. A dual screen display spans the dashboard, with a new interface we're h...

Labour to support public vote after Corbyn's Brexit vision rejected Labour to support public vote after Corbyn's Brexit vision rejected

Mrs May (pictured top at PMQs today) has warned MPs they must accept her deal by March 12 - but admitted if they refuse, the Commons must vote to accept no deal Brexit or vote to delay Brexit. It will probably pass if pushed to a vote as it matches...

Air France-KLM: Macron wants clarification from Dutch state Air France-KLM: Macron wants clarification from Dutch state

French President Emmanuel Macron on Wednesday asked the Dutch government to clarify why it bought more than 12 percent of shares in the holding company for the Air France-KLM alliance without first advising Paris. In recent weeks, reports emerged t...

Oil up toward 2019 highs on supply, trade talks optimism Oil up toward 2019 highs on supply, trade talks optimism

Oil prices touched more than three-month highs during the week, supported by rising hopes that the United States and China would soon reach a deal to end their trade war, but new record US oil production limited gains, Reuters reported.

Ocado stock rockets 10% after M&S confirms joint venture talks Ocado stock rockets 10% after M&S confirms joint venture talks

Chief executive, Tim Steiner, said earlier this month that the arrangement with Waitrose prevented it from supplying own label products from another leading United Kingdom grocery retailer. For Ocado , however, analysts said news of the talks was ...

Comprehensive policy on e-commerce a ‘welcome move’, say e-tail giants Comprehensive policy on e-commerce a ‘welcome move’, say e-tail giants

It said conditions are required to be adhered to by business entities which have an access to Indian users' sensitive data stored overseas. Furthermore, the draft identifies e-commerce as an interdisciplinary subject falling under the ambit of seve...

Elon Musk tweet may cost him job as Tesla CEO Elon Musk tweet may cost him job as Tesla CEO

The SEC did not ask for a specific punishment for Musk's alleged violations of the settlement , but legal experts said the consequences could be severe, including an expensive penalty or forcing Tesla to take additional steps to rein in its CEO.

Next Porsche Macan Will Be Fully Electric, Coming After 2020 Next Porsche Macan Will Be Fully Electric, Coming After 2020

The choice of the Macan as Porsche's third all-electric makes ideal sense. Plus, it will have the prestige of being a Porsche, an all-electric one at that, in a very popular segment. It's a new platform, so-far unseen in the market. Crucially, PPE-...

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