Barnes & Noble Inc, the largest U.S. bookstore chain, reported a decline in sales for the fifth successive quarter as lower demand for its Nook tablets and online books compounded a protracted slump in sales at its stores. The company’s shares fell as much as 16.6 percent on Wednesday. In recent years, stiff competition from online retailers such as Amazon.com Inc has eaten into sales at Barnes & Noble’s bookstores
(Reuters) – Wall Street analysts tempered their view on Yahoo Inc’s stock after the company’s plans for a tax-free spinoff of its stake in Alibaba Group Holdings Ltd hit a snag. Yahoo said on Tuesday the U.S. Internal Revenue Service (IRS) denied its request for a private letter ruling (PLR) on a possible tax-free deal that could fetch it $23 billion. The spinoff is planned for later this year.
Jeb Bush tells CNBC his tax plan would help fuel growth by empowering Americans and creating an environment for investment.
The annual sales volume of the stores, net of sales expected to be retained in nearby stores and online, is expected to be about $300 million, the company said in a statement. The company, which operates 770 Macy’s stores, said the store closures would be early next year and that it would announce the locations of the affected stores on a later date. Globally, Macy’s operates a total of 885
Chipotle is going to spend Wednesday interviewing somewhere between 30,000 and 40,000 job applicants. At Chipotle, it will also be a free-advertising coup with lasting benefits. To find 4,000 suitable hires, Chipotle will need to interview at least five times as many candidates.
United Airlines abruptly replaced its CEO as a federal investigation continued into whether the airline gave preferential treatment to a former chairman of the agency that operates the New York-area airports …
SINGAPORE/TAIPEI (Reuters) – By adding a more realistic sense of touch to its iPhone, Apple Inc may have conquered a technology that has long promised to take us beyond merely feeling the cold glass of our mobile device screens. In its latest iPhones, Apple is expected to include what it calls Force Touch, allowing users to interact more intuitively with their devices via a pressure-sensitive screen which mimics the feel and response of real buttons. In the
New reporting standards show that the biggest Europe-based lenders still have many more assets per euro, franc or pound of equity than their U.S. rivals and yet their returns on those assets are just two-thirds of those at American banks.
McDonald’s says it will switch to cage-free eggs in the U.S. and Canada over the next decade, marking the latest push under CEO Steve Easterbrook to try and reinvent the Big Mac maker as a “modern, …
DALIAN, China/SHANGHAI (Reuters) – China has fended off the major risks to its financial system while its economic prospects remain positive, Premier Li Keqiang said on Wednesday, as he tried to reassure global markets that Beijing can keep its economy on track and stock markets in check. “The government took measures to stabilize the market and prevent risks from spreading, we have forced out the possibility of any systemic risks,”
