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- FinanceBusiness Insider•yesterday
The company is shutting down dozens of Kmart stores this month and two of its highest-ranking executives left this week in the midst of the key holiday shopping season. This comes following speculation among Sears and Kmart employees, suppliers, and several banks that the retailer will soon go bankrupt — something Sears has repeatedly dismissed. Jeff Balagna, formerly Sears' executive vice president, left the company Wednesday, "in order to focus on his other business interests and pursue other career opportunities," Sears said in an SEC filing dated November 23.
- BusinessMarketWatch•2 hours ago
The big news this past week was a massive OPEC deal that finally made good on talk about a worldwide cut in oil production. In case you missed it, the agreement resolves to remove about 2% of global oil production, with the Organization of Petroleum Exporting Countries’ member states cutting 1.2 million barrels of daily output and non-OPEC producers, including Russia, reducing 600,000 barrels daily. That news had a big impact on the market, resulting in a roughly double-digit move for oil CLF7, +1.21% , putting prices above $50 again for the first time since June. And a number of smaller energy companies have exploded higher, including: • Domestic explorer Whiting Petroleum Corp. WLL, +1.16%
- PoliticsYahoo Finance•yesterday
President-elect Trump tours the Carrier facility in Indiana. This week in Indianapolis, President-elect Donald Trump announced that he would save hundreds of Americans’ jobs from going to Mexico. Speaking at United Technologies’ (UTX) Carrier air conditioning company, Trump announced a deal that kept 800 jobs in-state in exchange for $7 million in tax breaks.