House of Fraser will live to fight another day. Despite doubts around its CVA plan, creditors voted in favour of it on Friday which means it will now close 31 stores, reducing its size by more than half in the process.
China’s commerce ministry on Thursday accused the U.S. of being “capricious” over bilateral trade issues, and warned that the interests of workers and farmers ultimately will be hurt by Washington's decisions.
Kroger on Thursday raised the lower-end of its full-year earnings forecast and posted a better-than-expected quarterly profit, as investments in online and delivery services paid off, seeing its shares up as much as 13%.
Activist investor Land & Buildings on Thursday resumed its criticism of department store owner Hudson’s Bay Co, urging it to correct its underperformance and extract value from its substantial real estate holdings.
As House of Fraser prepares for one of the most important days in its 170-year history (with its creditors voting on its CVA Friday) the company has released a broad outline of its new product and trade strategy.
India’s cotton shipments to China could grow five-fold to 5 million bales in the next crop year as exporters rack up orders amid a trade war that is forcing the world’s top consumer to look for other sources of supply.
The Facebook-owned social network launched a mobile app on Wednesday dedicated to user-generated videos up to an hour long, upping the competition for consumers’ time among ad-supported streaming services like YouTube.