NEW YORK (AP) – The operator of Saks Fifth Avenue and Neiman Marcus said that it will close eight Saks Fifth Avenue stores as well as its Neiman Marcus Boston store as it focuses on its most profitable businesses and pares down debt during its Chapter 11 bankruptcy restructuring.
TOKYO (AP) – Honda reported Tuesday a 42% drop in profit for the nine months through December, compared to a year earlier, as U.S. President Donald Trump’s tariffs hurt the Japanese automaker’s earnings. Tokyo-based Honda Motor Co.’s profit over the three quarters totaled 465.4 billion yen ($3 billion), down from 805.2 billion yen.
WASHINGTON (AP) – The U.S. Food and Drug Administration is refusing to consider Moderna’s application for a new flu vaccine made with Nobel Prize-winning mRNA technology, the company announced Tuesday.
Oil and gas exports have sustained Russia’s finances throughout its war against Ukraine. But as the fourth anniversary of the full-scale invasion approaches, those cash flows have suddenly dwindled to lows not seen in years.
Excerpts from recent editorials in the United States and abroad:
Opposition to a deal that would allow U.S. companies access to critical minerals in Congo is growing after Congo’s President Felix Tshisekedi returned from the U.S. minerals summit last week – with praises from U.S. President Donald Trump and U.S. lawmakers.
HONG KONG (AP) – In China, consumerism appears to outweigh nationalism regardless of how testy relations have become in recent diplomatic spats with countries like Japan and the United States. It has been common practice for the ruling Communist Party to whip up nationalist sentiment and deploy propaganda condemning countries deemed to be violating China’s stances.
LOS ANGELES (AP) – The world’s biggest social media companies face several landmark trials this year that seek to hold them responsible for harms to children who use their platforms. Opening statements for the first, in Los Angeles County Superior Court, begin this week.
Kroger named former Walmart executive Greg Foran as its chief executive officer on Monday, 11 months after the abrupt resignation of its previous CEO. Foran has a reputation as a tech-savvy and detail-oriented leader. He led Walmart’s U.S. division from 2014 to 2019, where he focused on cleaning up stores, ensuring items were in stock and improving the fresh produce selection.
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