The American company Transform Holdco, which owns retail chains Sears and Kmart, has announced that it will close 96 stores, that is, about a third of all stores in both chains. At the same time, the company said it provided a loan of $ 250 million, which will enable retail chains to continue to...

Disney said the "circumstances" prevailing in Hong Kong had a negative impact on the company's theme parks, CNBC reports. The profit growth of Disneyland Paris and Shanghai Disney Resorts was offset by deterioration in the results of the Hong Kong Disneyland Resort, the company said. "The...

Users of the United States based ride sharing company Lyft has said that it would be ready to offer free rides to those users of its services in San Francisco who decide to get rid of their cars and sell them off.   A new program called Ditch Your Car was announced by Lyft on Thursday as a...

Net profit attributable to shareholders of the German manufacturer of sportswear and equipment Adidas AG increased in January-September by 13.5% in annual terms to €1.809 billion. Earnings per share rose to €9.13 from €7.86 a year earlier. Revenues increased by 6.7% to €17.802 billion. Net profit...

Carbon neutrality, elimination of plastic packaging, and promoting sustainable products are among some of the sustainable goals of Zalando to also attain commercial success. Zalando is the biggest online fashion retailer of Europe which revealed its plans of reducing its CO2 emission, eliminating...

Honda and Hitachi to come together to create “a mega supplier” for delivering “competitive advanced technologies and solutions”. Hitachi Ltd has plans of merging its “vehicle components” arm with three of Honda’s suppliers in an attempt to reduce cost of developing EV markets while receiving better...

A formal announcement for the much awaited initial public offering (IPO) by Saudi Arabia's giant state oil company was made finally on Sunday. Touted to be the largest ever IPO of the world, the company said it would be floating a part of its stocks on the domestic stock exchange as the kingdom...

Yet another controversy has hit Facebook.   This time around the largest social media platform of the world has been accused to allowing the use of ad targeting tools on its platforms that arguably have been used for excluding women and older people from availing financial services such as...

Fiat Chrysler and PSA Peugeot automakers' boards of directors approved the merger on an equal footing, both sides said. The merger will create the fourth-largest car manufacturer in the world, valued at approximately at $ 50 billion. The parties expect to join forces in the development of electric...