Here's Myles Udland with a look ahead at what will be making headlines on Wednesday.Read More »
Japan's embattled Toshiba Corp has selected a group led by U.S. private equity firm Bain Capital to buy its prized memory chip unit, three people with knowledge of the talks said on Wednesday, a last-minute dramatic twist to a highly contentious auction. The Bain-led offer for the world's No. 2 producer of NAND semiconductors is worth some $22 billion, sources have said.
According to a recent note by equity research firm Jefferies, there's evidence that mass-market retailers like Target are now lowering prices to compete with Lidl, which has 10,000 global stores but just came to the US.
Toys 'R' Us Inc, the largest U.S. toy store chain, filed for bankruptcy protection late Monday, the latest sign of turmoil in the retail industry that is caught in a viselike grip of online shopping and discount chains. It comes just as Toys 'R' Us is gearing up for the holiday shopping season, which accounts for the bulk of its sales. "While today's decision does not necessarily mean it is game over for Toys 'R' Us, it brings to a close a turbulent chapter in the iconic company's history," said Neil Saunders, managing director of GlobalData Retail.