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Best Buy Co Inc said on Wednesday it would furlough about 51,000 hourly U.S. store employees and that its sales dropped about 5% in the first two months of the current quarter, as the electronics retailer kept its stores shut Read more
J.C. Penney Co Inc said on Wednesday it will not make a $12 million interest payment on its long-term corporate bonds, a day after a report that the department store operator was considering filing for bankruptcy protection. In a regulatory Read more
A federal judge said Tesla Inc and Chief Executive Elon Musk must face a lawsuit claiming they misled shareholders when Musk tweeted that he had secured funding to take his electric car company private in a $72 billion transaction. U.S. Read more
The top U.S. retail banks said on Wednesday they would provide relief to customers who had overdrawn checking accounts, so that they could reap the full benefits of the federal government’s cash stimulus program. Americans stand to receive payments of Read more
Man GLG, the discretionary investment arm of asset manager Man Group (EMG.L), has hired Andrew Swan from rival BlackRock (BLK.N) to lead its Asia ex-Japan equities business, it said on Thursday. He will join the firm in Sydney in the Read more
Warehouse operator Costco Wholesale Corp (COST.O) on Wednesday raised its quarterly dividend by about 8%, joining a small but growing list of companies to do so at a time when most of corporate America is suspending shareholders returns in order Read more
Oil rose on Thursday, with U.S. crude rebounding from near-20-year lows in the previous session on hopes that a big build-up in U.S. inventories may mean producers have little option but to deepen output cuts as the coronavirus pandemic ravages Read more