Author: TI Editor

(Bloomberg) — Hudson’s Bay, a historic Canadian department store chain, has sought protection in its home country and intends to restructure after failing to secure financing to shore up its cash reserves. The company sought creditor protection with the Ontario Superior Court of Justice on Friday, according to a statement. Bloomberg reported earlier the retailer was planning to file for bankruptcy. The court has appointed Alvarez & Marsal Canada Inc. to oversee the proceedings, according to the statement. Hudson’s Bay operates as a standalone Canadian business under Hudson’s Bay Co., which is North America’s longest continuously operating company, with headquarters…

TORONTO (AP) — Canada’s oldest retailer, Hudson’s Bay, has filed for creditor protection and intends to restructure the business. The department store company that dates back to 1670 announced the move Friday evening, saying it has been facing “significant” pressures, including subdued consumer spending, trade tensions between the U.S. and Canada and post-pandemic drops in downtown store traffic. “While very difficult, this is a necessary step to strengthen our foundation and ensure that we remain a significant part of Canada’s retail landscape, despite the sector-wide challenges that have forced other retailers to exit the market,” Liz Rodbell, president and CEO…

(Bloomberg) — The US Justice Department has opened a preliminary probe into a recent surge in egg prices across the country, according to a person familiar with the investigation.  The investigation, which is being conducted by the department’s civil antitrust enforcers, focuses on whether companies including Cal-Maine Foods Inc. and Rose Acre Farms Inc. have colluded to boost prices or limit supply, said the person, who asked not to be identified discussing a confidential probe. A dozen large eggs in the Midwest cost an average of $8.41 wholesale as of Feb. 28, a record high and an increase of more…

International Women’s Day is just as good a day as any to provide strength to women and enable them to be the torchbearers of their own financial destiny. This can be done through proper planning, effective money management and thoughtful fund allocation.Now, it is a given that investing appears to be a difficult task for most women, still it is important to acknowledge that with proper financial education and consistent reading sensible allocation of funds can be done. As perfectly stated by American author and journalist Clare Boothe Luce: “A woman’s best protection is a little money of her own.”Here…

Trump’s policies have upended trade flows Industry grapples with mass layoffs, activist investor push Oil investment, output growth unlikely despite govt push Oil prices hover around $70 a barrel HOUSTON, March 7 (Reuters) – The world’s energy industry leaders meet in Houston next week as plummeting oil prices push Big Oil to slash thousands of jobs even as a pro-fossil fuel U.S. administration encourages them to pump more. U.S. President Donald Trump’s first 47 days in office have been marked by a rapid overhaul of government and policy, including mass layoffs and the reversal of many of the policies of…

(Bloomberg) — Boeing Co.’s new Chief Executive Officer Kelly Ortberg received $18.4 million in total compensation for the five months he spent on the job in 2024 — although he won’t be able to cash in on much of the award for years, the company said in a filing Friday. About $16 million of Ortberg’s pay came from equity-based incentives that will vest over three to four years and were awarded as he joined Boeing amid a management shake-up and months of crisis. He also received about $525,000 in salary and a “new hire” cash bonus of $1.3 million, according…

President Donald Trump’s company sued Capital One Financial Corp., accusing it of illegally “de-banking” him for political reasons by abruptly canceling hundreds of accounts for his sprawling real estate business after his first term ended in 2021. The Trump Organization had been doing business with Capital One for decades and was holding millions of dollars with the bank when Capital One said on March 8 of that year it was cutting ties in three months, according to the lawsuit.  The termination of the accounts “without warning or provocation” led to “considerable financial harm and losses,” interrupting the business’s access to…

(Bloomberg) — Some of Ascend Performance Materials Inc.’s creditors provided fresh financing to the troubled chemicals firm, giving it time to restructure its debt, according to people with knowledge of the matter. The SK Capital Partners-backed firm will get a new $100 million loan, of which $40 million will be funded initially, said the people, who asked not to be identified discussing a private matter. All lenders are open to participate in the financing, they said. The financing, details of which were disclosed to a broader group of lenders Friday, includes cash and a payment-in-kind component, which allows the borrower…

Many banks have savings accounts tailored to the needs of specific individuals. These include savings accounts for women, senior citizens, children or youngsters in a particular age bracket. Recently, Bank of Baroda has introduced a credit card that is tailored to the specific needs of women with the BOB Tiara Credit Card. In this article, we will understand the features and benefits of the BOB Tiara Credit Card and whether you should have it in your wallet.Features and benefits of the BOB Tiara Credit CardThe BOB Tiara Credit Card is designed for women keeping in mind their needs and wants.…

The Trump administration has terminated two decades-old, independent food safety advisory committees to the US Department of Agriculture.  The National Advisory Committee on the Microbiological Criteria for Foods and National Advisory Committee on Meat and Poultry Inspection , both made up of experts from academia, industry and advocacy groups, have been disbanded.  USDA Secretary Brooke Rollins “fully supports the president’s directive to improve government, eliminate inefficiencies, and strengthen USDA’s many services to the American people,” an agency spokesperson said. The groups were dissolved under President Donald Trump’s executive order “Commencing the Reduction of the Federal Bureaucracy,” the spokesperson said. Members…