The founding family of Nordstrom has achieved its goal to take the department store chain private once again. According to a press release shared on Monday, the founding family and Mexican retailer El Puerto de Liverpool will acquire the company in an all-cash deal...
The proposed deal to merge rival supermarket chains Albertsons and Kroger has been shut down by two U.S. courts earlier this week. However, the saga won’t end there as Albertsons is now demanding “billions of dollars” from Kroger due to a breach of contract.
Albertsons...
The advertising industry faces a seismic shakeup after Omnicom Group agreed to acquire rival Interpublic Group. Omnicom and Interpublic, both headquartered in New York, are the world’s third-largest and fourth-largest ad firms, respectively.
According to Omnicom’s official announcement, the acquisition of Interpublic will be an...
Struggling semiconductor manufacturer Intel announced on Monday that its CEO Pat Gelsinger is retiring with an immediate effect. The news was well-received among investors, sending Intel’s stock up by 3.5% in pre-market trading.
Gelsinger took over as Intel’s CEO in 2021. At the time, the...
Ride-sharing platform Uber is facing a probe by the U.S. Federal Trade Commission (FTC) concerning its subscription service Uber One.
According to a report by Bloomberg, FTC received complaints that Uber signed up users to Uber One without their consent while also making the cancelation...
Department store chain Macy’s announced on Monday that it will delay its third-quarter earnings report, which was set to be released on Tuesday. The company made the decision after discovering that one employee hid up to $154 million in delivery expenses between 2021 and...
