Shortly after two more CEOs abandoned the White House’s manufacturing council, Trump disbands his two councils of business leaders.Read More »
is intent on boosting its e-commerce business to combat Amazon.com Inc. "Despite the rapid growth that we're seeing online, as we all know, the majority of retail shopping in America still takes place in a physical store," Brian Cornell, Target CEO and chairman, said on a call with representatives from the media on Wednesday, Aug. 16, after the big-box retailer reported a better-than-expected second quarter. One-fifth of the $3.6 trillion retail market in the U.S. is set to shift online over the next five years, Stacy Mitchell, co-director of the Institute for Local Self-Reliance, and co-author of "Amazon's Stranglehold," told TheStreet. Amazon is already on track to capture two-thirds of that enormous share.
SAVANNAH, Ga. (AP) _ Citi Trends Inc. (CTRN) on Wednesday reported a loss of $210,000 in its fiscal second quarter. On a per-share basis, the Savannah, Georgia-based company said it had a loss of 1 cent. Earnings,
Akzo Nobel and its biggest shareholder Elliott Advisors ended a long-running dispute on Wednesday as the U.S. activist investor agreed to halt legal action against the Dutch paint company and to support its board nominations. The move marks a major shift in Akzo Nobel's relations with the hedge fund, which last week lost its second legal attempt to convene a shareholders' meeting to vote on the removal of Chairman Antony Burgmans. Elliott and other large investors had been highly critical of Akzo's decision, on Burgmans' watch, to reject a 26 billion euro ($30.44 billion) takeover proposal from U.S. rival PPG Industries.