Author: Dow Jones
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Most Economists Say Fresh Government Shutdown Would Hurt U.S. Growth
Economists say a fresh government shutdown would take a toll on U.S. economic growth as well as business and consumer sentiment, as a deadline to reach a deal over border-wall funding approaches next week. Most of the private-sector economic forecasters, 58.9 percent, surveyed in recent days by The Wall Street Journal said another shutdown would…
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Fast-fashion retailer Charlotte Russe files for Chapter 11
Fast-fashion retailer Charlotte Russe Holdings Corp. has filed for Chapter 11 bankruptcy and plans to close about 20 percent of its stores but said it could liquidate the business entirely if it is unable to sell the business as a going concern. The mall-based retailer, which operates the Charlotte Russe and Peek Kids chains, said…
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Apple apologizes for FaceTime bug, sets fix this week
Apple apologized for a security flaw in its FaceTime video-chat system and said a software fix is coming this week, as the iPhone maker sought to assure customers it moved fast to address an embarrassing vulnerability that drew the attention of government officials. “We sincerely apologize to our customers who were affected and all who…
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Hulu raises price of live TV service, cuts cost of basic plan
Hulu is lowering the price for its least expensive subscription plan while raising the cost of its live TV offering, a move that aims to bolster its subscriber numbers while increasing the margins on its most expensive plan. Hulu’s basic plan — which lets users stream TV shows, with ads, but doesn’t include live sports…
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‘Roma’ and ‘The Favourite’ lead Oscar nominations
“Roma” and “The Favourite” took the lead in the Oscar race, receiving 10 nominations each, including best picture and best lead actress, when the Academy of Motion Picture Arts and Sciences announced its nominees on Tuesday. In a coup for Netflix, “Roma” became the streaming service’s first best-picture nominee, overcoming debate over whether a film…
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EU fines Mastercard $648 million
The European Union fined Mastercard Inc. 570 million euros ($648 million) over charges it artificially raised the costs of card payments inside the bloc, continuing a European crackdown on U.S. credit card companies over fees. The European Commission, the bloc’s top antitrust regulator, said Tuesday that Mastercard had historically prevented retailers from shopping around for…
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OPEC production falls as Saudis slash output
LONDON • OPEC significantly dialed back its crude oil production in December ahead of an official plan by the cartel to hold back output as part of an effort to rein in global oversupply and bolster crude prices. In its closely watched monthly oil market report published Thursday, the Organization of the Petroleum Exporting Countries…
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Hedge-fund-backed media group makes bid for Gannett
A hedge-fund-backed media group known for buying up struggling local papers and cutting costs has made an offer for USA Today publisher Gannett Co. MNG Enterprises Inc., one of the largest newspaper chains in the country, has quietly built a 7.5 percent position in Gannett’s stock and is urging the McLean, Va., publisher to review…
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Apple plans 3 new iPhones this year
Apple Inc. is planning to release three new iPhone models again this fall, including a successor to the struggling XR, the lower priced 2018 device with a liquid-crystal display that has fallen short of Apple’s sales expectations, people familiar with the matter said. Apple plans to introduce some new camera features, including a triple rear…
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Lampert’s revised bid for Sears tops $5 billion
Edward Lampert, the billionaire who led Sears Holdings into bankruptcy, has increased his offer to more than $5 billion, in a last-ditch effort to keep the ailing retailer alive. Lampert’s hedge fund, ESL Investments, Thursday unveiled the details of his new “going concern” bid, which includes a $600 million increase over an earlier offer, in…