Gap commits to Old Navy split; CEO exit won’t impact holiday shopping season

Gap commits to Old Navy split; CEO exit won’t impact holiday shopping season
(Reuters) – Gap Inc (GPS.N) said on Friday it was sticking with plans to spin off its Old Navy brand into a separate company, as Wall Street analysts questioned its commitment to the project following the surprise exit of Chief Executive Officer Art Peck. Gap shares fell 5.5% on Friday after Thursday’s shock announcement, which came along with another weak... Read More

Southwest pulls Boeing Max jets until March, in longest U.S. delay yet

Southwest pulls Boeing Max jets until March, in longest U.S. delay yet
FILE PHOTO: A number of grounded Southwest Airlines Boeing 737 MAX 8 aircraft are shown parked at Victorville Airport in Victorville, California, U.S., March 26, 2019. REUTERS/Mike Blake CHICAGO/WASHINGTON (Reuters) – Southwest Airlines (LUV.N) said on Friday it is extending the cancellation of flights using 737 MAX jets from its schedule by another month as Boeing Co (BA.N) faces increasing... Read More

U.S. Supreme Court to consider blocking Booking.com trademark

U.S. Supreme Court to consider blocking Booking.com trademark
FILE PHOTO: The building of the new Booking.com customers site is seen in Tourcoing, France, October 4, 2019. REUTERS/Pascal Rossignol WASHINGTON (Reuters) – The U.S. Supreme Court on Friday agreed to consider a bid by a federal agency to prevent the popular hotel reservation website Booking.com, a unit of Booking Holdings Inc (BKNG.O), from trademarking the site’s name, contending that... Read More

Southwest extends Boeing 737 MAX cancellations until early March

Southwest extends Boeing 737 MAX cancellations until early March
FILE PHOTO: A number of grounded Southwest Airlines Boeing 737 MAX 8 aircraft are shown parked at Victorville Airport in Victorville, California, U.S., March 26, 2019. REUTERS/Mike Blake CHICAGO (Reuters) – Southwest Airlines (LUV.N) is extending the cancellation of Boeing Co (BA.N) 737 MAX flights from its schedule by another month, through March 6, 2020, according to a regulatory filing.... Read More

Activist investor Icahn sells nearly a third of his Occidental Petroleum stake

Activist investor Icahn sells nearly a third of his Occidental Petroleum stake
HOUSTON (Reuters) – Activist investor Carl Icahn, who has been waging a bitter battle against Occidental Petroleum Corp’s (OXY.N) board over its $38 billion acquisition of Anadarko Petroleum, cut his holdings in the oil and gas producer by nearly a third, according to an open letter to shareholders released on Friday. Billionaire activist-investor Carl Icahn gives an interview on FOX... Read More

Arkansas joins states backing T-Mobile’s deal to buy Sprint

Arkansas joins states backing T-Mobile’s deal to buy Sprint
FILE PHOTO: A smartphone with Sprint logo are seen in front of a screen projection of T-mobile logo, in this picture illustration taken April 30, 2018. REUTERS/Dado Ruvic/Illustration/ WASHINGTON (Reuters) – Arkansas has decided to back the U.S> Justice Department’s decision to approve a merger of T-Mobile US and Sprint, the third and fourth largest U.S. wireless carriers. With Arkansas,... Read More

Activist investor Carl Icahn sells nearly a third of his Occidental Petroleum stake

Activist investor Carl Icahn sells nearly a third of his Occidental Petroleum stake
Billionaire activist-investor Carl Icahn gives an interview on FOX Business Network’s Neil Cavuto show in New York, U.S. on February 11, 2014. REUTERS/Brendan McDermid/File Photo (Reuters) – Activist investor Carl Icahn, who has been waging a bitter battle against Occidental Petroleum Corp’s (OXY.N) board over its $38 billion acquisition of Anadarko Petroleum, cut his holdings in the oil and gas... Read More

U.S. CFTC orders Wells Fargo to pay $14 million over unfair foreign exchange trade

U.S. CFTC orders Wells Fargo to pay $14 million over unfair foreign exchange trade
FILE PHOTO: A Wells Fargo ATM machine is shown in Los Angeles, California, U.S. October 19, 2018. REUTERS/Mike Blake/File Photo WASHINGTON (Reuters) – The U.S. Commodity Futures Trading Commission ordered Wells Fargo & Co (WFC.N) to pay more than $14 million to settle charges it provided “misinformation” when conducting a large foreign exchange trade with a counterparty, the agency said... Read More

Trump says has not agreed to roll back tariffs on Chinese goods

Trump says has not agreed to roll back tariffs on Chinese goods
By Alexandra Alper and Andrea Shalal U.S. President Donald Trump faces reporters as he departs for travel to Tupelo, Mississippi from the South Lawn of the White House in Washington, U.S., November 1, 2019. REUTERS/Tom Brenner WASHINGTON (Reuters) – President Donald Trump on Friday said he has not agreed to rollbacks of U.S. tariffs sought by China, sparking fresh doubts... Read More