Business

In this article JWN A shopper leaves a Nordstrom store on May 26, 2021 in Chicago, Illinois. Scott Olson | Getty Images Nordstrom on Tuesday reported earnings that fell short of analysts’ expectations as labor costs ate into profits and sales and its Nordstrom Rack business struggled to return to pre-pandemic levels. The news sent
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Kaisa Group Holdings Ltd.’s City Plaza development under construction in Shanghai, China, on Tuesday, Nov. 16, 2021. Qilai Shen | Bloomberg | Getty Images BEIJING — Chinese real estate developer Kaisa announced Thursday plans for paying back investors, temporarily alleviating concerns about a default as China’s property sector continues to face pressure. Kaisa’s Hong Kong-listed
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Second Harvest Heartland workers distribute food in a recent truck to trunk event. As Covid-19 cases in Minneapolis surge, so has the demand for food, said CEO Allison O’Toole. Courtesy: Second Harvest Heartland The onset of the Covid-19 pandemic last year prompted millions of Americans to wait in long lines for food assistance in the
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In this article GPS A pedestrian walks by the closed GAP flagship store on August 18, 2020 in San Francisco, California. Justin Sullivan | Getty Images Gap Inc. shares tumbled Tuesday after the company slashed its full-year outlook, with fiscal third-quarter results falling short as Covid-related factory closures led to significant product delays in the
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Jeff Zients, White House Covid-19 coordinator, speaks during a news conference at the White House on April 13, 2021. Leigh Vogel | Bloomberg | Getty Images The Biden administration has no plans to curb future Covid-19 surges using a nationwide lockdown, White House coronavirus response coordinator Jeff Zients said at a briefing Monday. Zients’ comments
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In this article M The entrances at Macy’s are decorated with Christmas decorations on December 04, 2020 in New York City. Roy Rochlin | Getty Images Entertainment | Getty Images Macy’s on Thursday reported fiscal third-quarter earnings and sales that topped analysts’ expectations, leading the department store chain to raise its full-year forecast ahead of
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High-rise apartment buildings at China Evergrande Group’s under-construction Riverside Palace development in Taicang, Jiangsu province, China, on Friday, Sept. 24, 2021. Qilai Shen | Bloomberg | Getty Images Asian high-yield bonds have been a hot favorite among institutional investors for the last few years. Also known as junk bonds, they are non-investment grade debt securities
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Chesnot | Getty Images As the end of the year approaches, there are still ways to reduce cryptocurrency tax bills, financial experts say. The IRS generally defines cryptocurrency as property for tax purposes, and investors must pay levies on the difference between the purchase and sales price.  If there’s a profit on assets held for less than
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An illustration showing physical bitcoins alongside binary code displayed on a laptop. Jakub Porzycki | NurPhoto via Getty Images LONDON — Investors have lost billions of dollars to criminals targeting so-called “decentralized finance” platforms this year. According to a report from London-based firm Elliptic, more than $10 billion worth of user funds has been stolen
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Macy’s CEO Jeff Gennette told CNBC’s Jim Cramer on Thursday the retailer has not reached any predetermined conclusions about spinning out its e-commerce unit into a separate company, a move that activist shareholder Jana Partners hopes to see taken. Gennette’s comments in a “Mad Money” interview came after Macy’s announced earlier Thursday it had brought
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Elizabeth Holmes, founder of Theranos Inc., exits federal court in San Jose, California, on Tuesday, Aug. 31, 2021. David Paul Morris | Bloomberg | Getty Images SAN JOSE, CALIF. — A hedge fund manager who put $96 million into Theranos said he thoroughly investigated the company but was still misled by CEO Elizabeth Holmes about
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