JCPenney shuttering up to 140 stores as sales weaken, more sluggish growth seen ahead – CNBC

J.C. Penney finally lifted the lid on its plans to downsize its fleet, telling investors on Friday that it would close between 130 and 140 of its stores over the next few months. The retailer made its comments while reporting fiscal fourth-quarter earnings that topped Wall Street’s expectations, though revenue and same-store sales fell shy […]

Mnuchin Tells Carney to Expect America-First Push on Regulation – Bloomberg

Treasury Secretary Steven Mnuchin told Mark Carney that Donald Trump’s administration will promote U.S. national interests in global talks on financial regulation. Mnuchin’s meeting with the Bank of England governor, who also chairs the Financial Stability Board, was probably the first in person since the secretary took office. It took place during a previously unannounced […]

Stocks near highs, dollar drifts after Fed see hike ‘fairly soon’ – Reuters

LONDON World stocks held near record highs on Thursday and the dollar eked out minimal gains after minutes of the latest U.S. Federal Reserve meeting showed policymakers in no big hurry to raise interest rates. U.S. and euro zone government bond yields fell or held steady as the minutes did nothing to firm up expectations […]

Nissan Savior Ghosn Hands Keys to New CEO to Focus on Alliance – Bloomberg

Carlos Ghosn, one of the auto industry’s most celebrated turnaround artists, is relinquishing his CEO role at Nissan Motor Co. and turning over day-to-day control to Hiroto Saikawa as he focuses on strengthening the carmaker’s alliance with Renault SA and Mitsubishi Motors Corp. The move caught some observers by surprise. Only last October, Nissan elevated […]

Switzerland’s ABB hit by $100 million South Korean fraud – Business Insider

A woman walks past the logo of Swiss power technology and automation group ABB ahead of a news conference to present the company’s full-year results in Zurich, Switzerland February 8, 2017. REUTERS/Arnd Wiegmann ZURICH (Reuters) – Swiss engineering group ABB revealed the discovery of what it called a “sophisticated criminal scheme” in its South Korean […]

UPDATE 3-Airbus seeks new talks with European nations over A400M costs – Reuters

* Airbus takes 1.2 billion fourth-quarter charge on A400M * Requests new talks with European buyers to ease cash problems * Airbus posts stronger-than-expected 2016 profit * Shares fall 1 percent over A400M uncertainty (Adds German comments, other reaction, fresh CEO quote) By Tim Hepher and Cyril Altmeyer PARIS, Feb 22 Airbus called for new […]

Stocks shrug off HSBC, rise on punchy euro zone growth signals – Reuters

LONDON Figures showing the fastest pace of growth in euro zone business activity for six years propelled European stocks to a 14-month high on Tuesday, reversing an earlier fall after the continent’s biggest bank HSBC (HSBA.L) reported a surprise slump in profits. Europe’s benchmark index of 300 leading shares .FTEU3 rose 0.3 percent to 1,468 […]

Verizon, Yahoo agree to cut takeover price by $350 million – CNBC

Verizon announced a revised takeover deal with Yahoo that will cut the price by $350 million. News of a possible deal revision was reported earlier Tuesday in The Wall Street Journal, while CNBC reported last week that the revised offer could cut the deal price by about $300 million. Verizon agreed in July to buy […]

Unilever shares slide after Kraft Heinz yanks $143B bid – CBS News

NEW YORK – Shares in Unilever (UL), the owner of brands like Hellman’s, Lipton, and Knorr, are down sharply after rival Kraft Heinz (KHC) withdrew a $143 billion takeover offer. The companies said Sunday in a joint press release that Kraft Heinz has “amicably” abandoned the offer. Shares in Unilever slumped 6.5 percent on Monday […]

SpaceX launches rocket from NASA’s historic moon pad – Palm Beach Post

Built in the mid-1960s for the massive Saturn V moon rockets, Launch Complex 39A has now seen 95 launches. Apollo 11’s Neil Armstrong, Buzz Aldrin and Michael Collins left Earth from here on July 16, 1969, on the first moon-landing mission. The very first space shuttle pilots, John Young and Robert Crippen, soared from here […]

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