Parent company Meredith has “found some very unexpected buyers,” said one industry analyst. Meredith said on Friday it has an agreement to sell Fortune magazine to Thailand-based entrepreneur Chatchaval Jiaravanon, who is using his personal money to acquire the storied brand for $150 million. Jiaravanon is the second wealthy individual to come to the rescue […]

On January 1st, 2019 America will impose a 25% import duty on all Chinese products, which will eventually rise to between from 25 – 40%, dramatically affecting US companies dependent on sourcing products and material from the Republic of China. KBL,a global contract manufacturer and fulfillment corporation headquartered out of Los Angeles, California, will continue […]

Tesla Inc (TSLA.O) has ended weeks of speculation by promoting one of the electric carmaker’s independent directors, Australian accountant Robyn Denholm, to replace Elon Musk as chairman. The change in structure at the Silicon Valley firm, agreed to by Musk in a September court settlement with regulators, is supported by many on Wall Street who […]

Shares in Michael Kors plunged on Wednesday following weaker-than-expected sales at its namesake brand. Sales at Michael Kors stores open for at least 12 months fell 2.1%, while licensing revenue was down almost 7%. The US fashion firm has responded to the struggles at its core brand by taking over luxury European labels Versace and […]

BRUSSELS – Walt Disney’s (DIS.N) $71.3-billion offer to buy Twenty-First Century Fox Inc’s (FOXA.O) entertainment assets won approval from the European Commission on Tuesday, subject to Disney selling interests in factual TV channels in Europe. The EU competition regulator said in a statement that Disney had committed to divest its interests in channels including History […]

“These funds are important to the Saudi people in ensuring their economy diversifies and is no longer dependent on oil,” said Son. Masayoshi Son, the billionaire founder and chief executive officer of Japan’s SoftBank, said Monday he is not turning his back on investments with Saudi Arabia, despite the murder of Washington Post journalist Jamal […]

WASHINGTON – U.S. President Donald Trump said on Friday that he will likely make a deal with China on trade, adding that a lot of progress had been made to resolve the two countries’ differences but warning that he still may impose more tariffs on Chinese goods. “China very much wants to make a deal,” […]

WASHINGTON  – U.S. job growth rebounded sharply in October and wages recorded their largest annual gain in 9-1/2 years, pointing to further labor market tightening that could encourage the Federal Reserve to raise interest rates again in December. The Labor Department’s closely watched monthly employment report on Friday also showed the unemployment rate steady at […]

Bitcoin was heading toward a year-on-year loss on Wednesday, its 10th birthday, the first loss since last year’s bull market, when the original and biggest digital coin muscled its way to worldwide attention with months of frenzied buying. By 1300 GMT, bitcoin BTC=BTSP was trading at $6,263 on the BitStamp exchange, leaving investors who had bought it […]

General Electric Co (GE.N) slashed its quarterly dividend to a penny a share, promised to restructure its power unit and said it faced a deeper accounting probe as new Chief Executive Larry Culp took his first steps to revive the struggling conglomerate. GE said the U.S. Securities and Exchange Commission and Department of Justice had […]