Another Luxury retailer files for bankruptcy over debt issues
US luxury retailer Neiman Marcus, saddled with debt and hit by the coronavirus pandemic, filed for bankruptcy on Thursday with a deal to hand its business over to its creditors. The bankruptcy filing will help it eliminate roughly $4 billion in debt that remains as a memento from its sale to private equity firms Ares Management and the Canada Pension Plan Investment Board in 2013.
business luxury neiman retailer
CnbcRelated Articles
Elon Musk Gains $8 Billion to Become World’s Fourth-Richest Person
Elon Musk’s financial upswing shows no signs of slowing. The rise vaulted the Tesla co-founder past French luxury tycoon Bernard Arnault, the wealthiest non-American on the Bloomberg Billionaires Index. Musk’s fortune has grown by $57.2 billion this year, the second-biggest increase on the index after Amazon.com Inc. founder Jeff Bezos’s.
technology business markets wealth valuation sp-500-index amazoncom-inc tesla-inc pursuits elon-reeve-musk bernard-arnault mark-elliot-zuckerberg billionaires space-exploration-technologi
Bloomberg
Zuckerberg says there's 'no end in sight' for Facebook employees working from home
Facebook CEO Mark Zuckerberg on Thursday said there is no timetable for when employees will return to the company's offices amid a continuing surge in Covid-19 cases in the U.S. Zuckerberg made his comments on a call with analysts about Facebook's second-quarter results, specifically criticizing the Trump Administration for its handling of the coronavirus.
facebook technology business mark
Cnbc
Walmart to spend $428 million on worker bonuses
Walmart said Tuesday that it will give another round of bonuses to hourly employees and close its stores on Thanksgiving Day. The big-box retailer said in a news release that it will spend about $428 million on the bonuses to thank employees for working during the pandemic. Full-time hourly employees will receive $300 and part-time and temporary workers will get $150. The company will pay the bonuses on Aug. 20
walmart retailer bonuses
CNBC
Oil had the best quarter in the last 30 years
After crashing to the lowest level in history earlier this year, oil prices made a huge comeback. Oil prices registered their best quarterly performance in 30 years during the three months through to the end of June. Brent crude futures skyrocketed more than 80% in the second quarter. It was the international benchmark’s best quarterly performance since the third quarter of 1990 during the first Gulf War
business oil prices q2
CNBC