Luxury retailer Barneys New York is making preparations for a bankruptcy filing that could come as soon as this month, people familiar with the matter tell CNBC. Barneys, which is facing a liquidity crunch spurred by a rent hike at its Manhattan flagship, has engaged law firm Kirkland & Ellis and financial advisers a M-III
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Istvan Kadar Photography | Moment | Getty Images Nearly 40,000 Con Edison customers were left without power Saturday after massive outages hit New York City. The utility company said it was responding to “extensive outages” on the westside of Manhattan and would share more information as it becomes available. The power outage was apparently caused
Cricket has been around for centuries, and with 104 nations as official members of the International Cricket Council, it’s now one of the world’s most popular sports. The Indian Premier League, or IPL, is a relatively new league, but it is already one of the richest cricket tournaments on the planet. In 2018, the IPL
Tropical Storm Barry, which threatens to make landfall as a hurricane Saturday and flood parts of Louisiana, will pose a serious test of New Orleans’ post-Hurricane Katrina flood defenses. New Orleans’ situation is precarious. The Mississippi River is expected to rise to nearly 20 feet, the highest level since 1950; roughly 10 to 15 inches
Nick Gregory, a 26-year-old manager, vapes on a JUUL at Botany Bay in Lexington, Ky. Charles Bertram | Tribune News Service | Getty Images A U.S. federal judge on Friday ordered the Food and Drug Administration to impose a 10-month deadline for the submission of e-cigarette applications, turning the screws on companies like Juul Labs
Discount merchandise retailer Fred’s announced on Friday that it will close another 129 stores and hold inventory clearance sales as the company works to repay its debt and diversify its product selection. Fred’s will have an estimated 80 retail stores and 166 pharmacies standing following its store closures. In a press release, the retailer said
CNBC’s Jim Cramer on Thursday said that shares of FedEx have been tough to own as of late, but noted an optimistic sign in its recent stock activity. The stock mustered a rally after the company reported mixed-quarterly results late last month. On the conference call, management told shareholders that the global economic slowdown has
Richard Harbaugh | Disney Parks Disney has finally announced the opening date for Star Wars: Rise of the Resistance ride — and it’s a little later than expected. While the Orlando, Florida version of the ride is expected to be operational on Dec. 5, its California counterpart won’t open until Jan. 17. Disney had initially
A man shops at the Nordstrom men’s store, the company’s first-ever Manhattan location. Getty Images Two years ago, Nordstrom was offered a buyout offer at $50 a share. It’s shares are now trading 38% lower than that, but there’s still hope for the retailer. Nordstrom’s stock is down roughly 35% year-to-date, swept up in the general
Microsoft CEO Satya Nadella speaks at a fireside chat with the CEO of German carmaker Volkswagen (unseen) where they unveiled their cooperation for the Volkswagen Automotive Cloud in Berlin on February 27, 2019. Tobias Schwarz | AFP | Getty Images Microsoft’s answer to the trendy team chat app Slack has exceeded Slack in regular usage