Business

At least 119 JCPenney stores across the U.S. are set to change ownership in a major $947 million deal announced last week. The agreement comes five years after the retailer filed for Chapter 11 bankruptcy at the height of the COVID-19 pandemic. As part of its restructuring, the department store chain transferred ownership of 160 store properties and six distribution centers to a liquidating trust established on behalf of its secured […]

A new Dunkin' Donuts ad has people on social media in a furor over "genetics" for the second time this week.The breakfast food franchise released a short spot for its new summer Refresher drinks on Tuesday featuring "The Summer I Turned Pretty" star Gavin Casalegno. During the 35-second ad, the actor credited his summer tan to his "genetics.""Why are ads so obsessed with genetics all of a sudden," one user […]

President Donald Trump announced in a Truth Social post that he and Mexican President Claudia Sheinbaum agreed to extend the deadline for reaching a trade deal, though he seemed flexible on the timeline. The buzzer-beater agreement comes just one day before the deadline Trump announced earlier this month. TRUMP ADMINISTRATION FIRES WARNING AT MEXICO OVER 'BLATANT DISREGARD' OF AIR AGREEMENT"We have agreed to extend, for a 90-day period, the exact same […]

Starbucks is closing its pickup-only grab-and-go stores next year to better align with CEO Brian Niccol's strategic coffeehouse portfolio overhaul aimed at revitalizing traffic and restoring in-store experiences. Starbucks decided to sunset its mobile order and pickup-only concept in fiscal 2026 following an evaluation of its North American portfolio to ensure it has "the right coffeehouses in the right locations to drive profitability and deliver the Starbucks experience," Niccol said on […]

President Trump announced Wednesday that the U.S. and South Korea have reached a comprehensive trade agreement, in which the East Asian country will invest $350 billion in American projects selected by Trump.South Korea, which has agreed to be "completely open" to trade with the U.S., will now face a reduced tariff of 15% on imported goods — down from the planned 25%, which would have gone into effect on Aug. […]

American distillers are keeping a close eye on trade talks as Canada and Mexico have until Friday to reach deals with the U.S.President Donald Trump on Sunday levied a 15% tariff on most products imported from the 27-nation European Union. Prior to the deal, the European Union faced a 30% tariff rate that was scheduled to begin on Aug. 1. Distilled spirits were not among the products included in the […]

President Trump announced Wednesday that the U.S. has reached a trade deal with Pakistan, in which the two countries will work together to develop the South Asian country's oil reserves."We have just concluded a Deal with the Country of Pakistan, whereby Pakistan and the United States will work together on developing their massive Oil Reserves," Trump said in a Truth Social post on Wednesday. "We are in the process of […]

Derek Jeter's digital trading card company is going back to the roots.Arena Club was founded in 2022 by the New York Yankees legend and Brian Lee. It serves as a "bridge" between the long-lasting sports card collecting hobby and the up-and-coming world of digital sports collectibles. But on Wednesday, Arena Club announced a new partnership with eBay which makes the global commerce leader the exclusive online marketplace for Arena Club’s new […]

The Senate’s attempt at banning lawmakers from trading stocks made it through its first hurdle on Wednesday, but a lack of Republican support for the move signals a rocky road ahead for the effort.Sen. Josh Hawley’s Preventing Elected Leaders from Owning Securities and Investments Act, or PELOSI Act, advanced in the Senate Homeland Security and Governmental Accountability Committee, but the Missouri Republican was the only GOP member on the panel […]