Home decor retailer with Carmel store files for bankruptcy
Los Angeles-based Z Gallerie said it plans to close 17 of its 76 stores as part of the Chapter 11 reorganization.
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Tesla raises prices as Musk backtracks on plan to close stores
Tesla will increase the cost of its vehicles by an average of about 3 percent after rethinking a plan announced just 10 days earlier to wind down all but a small number of its stores.
Indiana-based Berry bests Apollo with $4.4B deal to form plastics giant
Berry Global Group CEO Tom Salmon, already coming off a string of acquisitions, is making the company’s biggest purchase amid a rapidly consolidating market for plastic packaging.
NCAA loses critical U.S. court ruling on athlete compensation
A federal judge said Friday that the NCAA’s rules regarding compensation violate federal antitrust law and athletes may be compensated for education-related expenses beyond current caps.
Crypto companies complain they’re being shunned by banks
While top-tier banks are getting more crypto-curious—JPMorgan rolled out a prototype digital coin last month—most see the growing number of companies in the industry as they have since day one: ticking regulatory time bombs.
Papa John’s founder to quit board, drop suit in settlement
As recently as last month, it had appeared John Schnatter wasn’t going to release his grip on the company without a fight.
Salesforce stock slides after disappointing revenue forecast
The scaling back of the cloud software maker’s growth expectations stoked concern that the pace of its torrid expansion has stalled as it matures into a larger company.
Cigna CEO expressed regret about merger that later failed
While publicly backing his company’s 2015 merger with rival health insurer Anthem, Cigna’s CEO privately expressed regret about signing on to a deal that left him with a reduced role, lawyers for Anthem said in court Monday.
Amazon planning to open dozens of grocery stores, WSJ reports
Amazon.com Inc. plans to open dozens of grocery stores in U.S. cities, The Wall Street Journal reported Friday, a move that would expand its grocery footprint beyond its Whole Foods Market chain. Shares of food retailers all fell on the news.
Ex-Anthem CEO Swedish says leadership dispute led to war with Cigna
Anthem and Cigna are battling in court over whether one owes the other billions in damages for the collapse of their proposed merger.
Gap to close 230 stores, spin off Old Navy into new public company
The Gap brand has struggled as part of a broader slump for brick and mortar retailers, even as the lower-priced Old Navy brand has resonated with discount shoppers.
Victoria’s Secret to close 53 stores after poor Christmas performance
Columbus, Ohio-based owner L Brands Inc. operates 957 Victoria’s Secret shops in the United States, including eight mall stores in the Indianapolis area.
Democrats unveil ‘Medicare for all’ bill favored by liberal base
A leader of House Democrats’ progressive wing is proposing “Medicare for all” legislation that would replace almost all private health insurance, winning endorsements from many of its top presidential contenders.
Anthem says bid to save Cigna merger was ‘cut off at knees’
Cigna Corp. officials did everything they could to sabotage a $48.9 billion merger with Anthem Inc., Anthem’s general counsel told a judge Monday.
Roche makes $4.8 billion acquisition bid for gene-therapy company
Spark Therapeutics Inc. will give Roche Holding a chance to make up ground in a field where single treatments may command more than $1 million. It also snaps up an asset that rivals like Novartis might have coveted.
Anthem, Cigna joust for billions in court clash over failed deal
In the wake of the companies' failed $48 billion merger, Anthem claims it's owed $20 billion and Cigna claims it's owed $15 billion.
Kraft Heinz hit with federal probe, huge quarterly loss as consumers flee brands
The food manufacturer says it will slash the value of its Oscar Mayer and Kraft brands by $15.4 billion, an acknowledgment that changing consumer tastes have destroyed the value of some of the company’s most iconic products.
Lilly, other insulin makers must face price-gouging lawsuit, judge rules
The suit accuses the companies of raising insulin sticker prices by more than 150 percent over five years, forcing diabetics to forgo the drug, take less insulin than needed or use expired versions
Papa John’s offers Purdue tuition in bid for labor loyalty
Papa John’s International Inc. is offering its employees tuition to Purdue University online classes—part of the beleaguered chain’s efforts to shift the narrative away from the missteps of its founder.
Spirits overcome tariffs to post ninth straight year of U.S. sales growth
Spirits such as whiskey, tequila, cognac and vodka are gaining market share at a time when American beer consumption is falling.