J.C. Penney Co Inc late last year tapped Jill Soltau as chief executive officer to stem the decline in sales, the fifth leadership change at the department store operator in 15 years.
Apple Inc rolled out its virtual credit card on Tuesday, working with bank Goldman Sachs Group Inc on the new iPhone add-on that may help Apple diversify from device sales and build out the Wall Street bank’s new consumer business.
Oil prices rebounded slightly on Tuesday from big falls in recent sessions, but Brent crude remained near seven-month lows around $60 a barrel due to escalating trade tensions between China and the United States.
China’s central bank said on Tuesday that Washington’s decision to label Beijing as a currency manipulator would “severely damage international financial order and cause chaos in financial markets”.
A rout in global markets moderated on Tuesday as China kept the yuan on a tight leash after its landmark drop past 7-per-dollar led the United States to label Beijing a currency manipulator.
India has increased the cost estimate of a giant refinery and petrochemical project to be jointly built with Saudi Aramco and Abu Dhabi National Oil Co by more than 36%, after protests by farmers forced the relocation of the plant, four sources said.
Goldman Sachs said it no longer expects the United States and China to agree on a deal to end their prolonged trade dispute before the November 2020 presidential election as policymakers from the world’s largest economies are “taking a harder line”.
A freer-floating yuan could be a positive for China’s sovereign credit rating, agency Fitch said on Tuesday, by helping preserve its foreign exchange reserves and cushioning some of the negative effects of U.S. trade tariffs.
China firmly opposes a U.S. decision to label it a currency manipulator, its central bank said on Tuesday, adding that Beijing has not used and will not use the yuan to cope with trade frictions with the world’s biggest economy.
Air China will suspend its flights on the Beijing-Hawaii route from Aug. 27 after a review of its network, China’s flagship carrier said on Tuesday, as travel demand remains weak amid an escalating U.S.-China trade war.
U.S. luxury department store chain Barneys New York Inc filed for Chapter 11 bankruptcy on Tuesday and put itself up for sale after facing soaring rents and failing in its earlier attempts to find a buyer for the cash-strapped retailer.
French media conglomerate Vivendi said it had started talks with Tencent Holdings to sell an initial 10% stake in its Universal Music Group (UMG) division.
Global stocks extended already substantial losses on Tuesday, after Washington tagged China a currency manipulator, shaking fragile investor sentiment in a rapid escalation of the U.S.-China trade war.
U.S. luxury department store chain Barneys New York Inc filed for Chapter 11 bankruptcy protection to restructure its business and pursue a sale, the New York Times reported early on Tuesday.
China’s official Communist Party newspaper said on Tuesday that the United States was “deliberately destroying international order”, a day after Washington branded Beijing a currency manipulator in a rapidly escalating trade dispute.
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