Money

Victoria’s Secret Closing 53 Stores After Poor Holiday Sales

Victoria’s Secret Closing 53 Stores After Poor Holiday Sales Victoria's Secret is an American designer, manufacturer, and marketer of women's lingerie, womenswear, and beauty products. The department-store chain said same-store sales fell 4% during the fourth quarter. The Gap , with 20 stores in New Jersey, announced plans to shut 230 stores over the next two years worldwide, or half its stores. With holiday sales down, L Brands saw sales lag 3 perce... [Full Article...]

LK Bennett gets ready for entering administration

LK Bennett gets ready for entering administration In the year ending July 2017, the most recent available results, the company made an operating loss of £5.9m. She sold a large chunk of her stake to Phoenix Equity Partners and Sirius Equity in a £100m deal in 2008, but returned as a consultant two years ago amid falling profits. [Full Article...]

Gloomy outlook could keep oil price controlled in 2019

Gloomy outlook could keep oil price controlled in 2019 Gulf Coast", said Andy Lipow, president of Lipow Oil Associates in Houston. Nonetheless, the price action suggests that traders believe the oil markets are now tightening. Energy Information Administration said in a monthly report on Thursday. OPEC, Russia and other non-members - an alliance known as OPEC+ - agreed to reduce supply by 1.2 million bpd. [Full Article...]

US GDP grows above-forecast 2.6% as business spending picks up

Gross domestic product was expected to expand at 2.2% in the fourth quarter. Within that category, spending on structures fell 4.2 percent, the biggest drop in a year, a slowdown that may partly reflect falling oil prices. While the third quarter of the year was highlighted by wild swings in the often-volatile inventory and worldwide trade components of GDP, movements in the fourth quarter wer... [Full Article...]

Rolls-Royce pulls out of race to power Boeing's new commercial plane

Rolls-Royce pulls out of race to power Boeing's new commercial plane Shares fell 2.1 per cent in Thursday morning trading on the announcement. The Derby-headquartered business turned over £15.7bn in the year to 31 December 2018, up from £14.7bn in 2017. The news came as Rolls-Royce reported a 7% rise in revenue past year to £15.73bn (2017: £14.7bn), while operating profits doubled to £616mln (2017: £306mln) thanks to a "significant improvement" in the civil aero... [Full Article...]

Lyft publicly files with the SEC for its IPO

Lyft publicly files with the SEC for its IPO It was valued at $15 billion earlier past year. Speaking on Yahoo Finance, Jay Ritter, University of Florida Cordell Professor of Finance, said that the IPO of Lyft before Uber could provide the company with more visibility that may allow the firm to achieve a bigger valuation from the IPO. [Full Article...]

Polestar 2 brings fight to Tesla Model 3

Polestar 2 brings fight to Tesla Model 3 The Polestar 2 is one of the first cars in the world to embed an infotainment system powered by Android . It features the company's "avant-garde" design derived from Polestar 1, giving the fastback a modern and futuristic appearance. Polestar 2 can also predetermine the driver's next move to create a seamless experience with a prepared cabin and quick start sequence. "We made a decision t... [Full Article...]

Walmart promises to make ‘every effort’ to keep greeters with disabilities

Walmart promises to make ‘every effort’ to keep greeters with disabilities Four workers in four other states told NPR on Thursday and Friday that they've received no new offers from Walmart management. Theresa Sours, an 81-year-old greeter with heart failure, said she desperately needs her Walmart job to help pay for her medicine and mortgage. [Full Article...]

YouTube to block comments on children at risk of ‘predatory behaviour’

YouTube to block comments on children at risk of ‘predatory behaviour’ In addition to disabling comments on videos with kids , YouTube said it is developing an "even more effective classifier" created to better identify and remove child-predator comments. That's good in some ways, because some YouTube channels are created exclusively for creating and sharing predatory videos. YouTube also terminated certain YouTube channels that were attempting to endanger chi... [Full Article...]

Pakistan Says It Will Return Indian Pilot Shot Down During Kashmir Airstrike

Pakistan Says It Will Return Indian Pilot Shot Down During Kashmir Airstrike On India's side there were policemen lined up along the road while a huge crowd of Indians waved the country's flag and welcomed the pilot back. The situation then escalated further with Wednesday's aerial skirmish, which saw Pakistan say it shot down two Indian aircraft , one of which crashed in Pakistan-held part of Kashmir and the other in India-controlled Kashmir. [Full Article...]

Gap Inc splitting into two companies with HUNDREDS of stores closing

Gap Inc splitting into two companies with HUNDREDS of stores closing About 130 of those closures will happen this year, according to Gap. The fashion-basics brand has plans to close 230 locations in addition to splitting-off from Old Navy, which will now function as an independent company. The market liked the news, sending shares soaring in Friday trading. During a conference call with investors on Thursday, Peck called the separation a 'unique and catalyzin... [Full Article...]

Telsa is going online-only for car sales, closing retail stores

Telsa is going online-only for car sales, closing retail stores Tesla has 378 stores worldwide, with 20 stores in the United Kingdom and Ireland - some of which are combined with service centres. The new $35,000 version has a top speed of 130 miles per hour and can go from zero to 60 mph in 5.6 seconds, Tesla said. [Full Article...]

Victoria's Secret closing more than 50 stores

Victoria's Secret closing more than 50 stores Same-store sales at the Victoria's Secret brand were down 3% during the quarter and overall in 2018. All of the closures will be in North America, and will see their actual square footage shrink by 3 per cent. The brand has struggled in recent years and increasingly been accused of losing relevance among shoppers as its oversexualized ads and racy runway shows have failed to resonate in the ... [Full Article...]

Home Depot shares fall as United States home-price gains losing steam

Home Depot shares fall as United States home-price gains losing steam And more disconcerting news about the state of the US housing market could make for a challenging 2019 for the home-improvement giant. Investors were "unimpressed" by the Home Depot's outlook, said GlobalData Retail Managing Director Neil Saunders. [Full Article...]

Colombia calls at U.N. for action on Venezuela crisis

Colombia calls at U.N. for action on Venezuela crisis Despite a ban on him leaving Venezuela he was in Colombia on Saturday to try to bring U.S. aid into his country, which resulted in clashes with forces acting on Mr Maduro's orders. The Russian draft resolution expresses "concern over the threats to use force" against Venezuela. Its draft reaffirmed that global disputes should be settled peacefully and urged that the Venezuelan situation to be sett... [Full Article...]

Powell Put? Fed chief Powell says market volatility can impact economy

Powell Put? Fed chief Powell says market volatility can impact economy On Tuesday, the 26th of February, 2019, the Fed Chair, Jerome Powell told that the economy of United States would grow at a slower pace in 2019, although he also forecasted a solid USA economy throughout the year, and in terms of interest rates , the Federal Reserve Chairman wished to remain patient in determining whether to hike interest rates further this year. [Full Article...]

United States economy grew 2.9% in 2018, highest in 13 years

United States economy grew 2.9% in 2018, highest in 13 years The 2.6 percent annualized rate of gains in gross domestic product from October to December compared with the 2.2 percent median estimate of economists surveyed by Bloomberg. A separate report Thursday from the Labor Department showed filings for unemployment benefits rose by more than expected last week to 225,000, still near a five-decade low. [Full Article...]

US Trade Official: Deal with China Not Near Agreement

US Trade Representative Robert Lighthizer says his country and China still have much to do to reach a trade deal. The two sides have imposed tariffs on billions of dollars' worth of each other's products. In currency markets, the dollar index against a basket of six major currencies stood little changed at 96.110. The index had edged up 0.1 per cent on Wednesday, pulling away from a three-we... [Full Article...]

Venezuela's Juan Guaido in Brazil, Meets EU Officials

Venezuela's Juan Guaido in Brazil, Meets EU Officials Russia, China, Cuba, Bolivia and a number of other countries have meanwhile voiced their support for the legitimate government of Maduro. "The Council very unlikely will be able to agree today", Pierce said on Thursday. Elliott Abrams, the USA envoy for Venezuela, rebuked the Russian envoy, saying, "I reject from start to finish, I reject from top to bottom, accusations of military interventions... [Full Article...]

Honda is bringing its almost-production-ready e Prototype to Geneva

Honda is bringing its almost-production-ready e Prototype to Geneva Honda promises the new rear-wheel-drive vehicle will feature "engaging driving dynamics" and deliver a package "perfect for the urban environment". You'll notice that the A-pillars are nearly flush with the windscreen, the door handles are flush with the body, and small cameras have replaced conventional side mirrors. [Full Article...]


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