U.S. Congress invites pharmacy benefit managers to third drug pricing hearing
(Reuters) – The U.S. Senate Finance Committee has invited executives from five pharmacy benefit managers…
Department Stores (TRBC)
UK needs to meet Facebook, Google competition with new rules: report
LONDON (Reuters) – Britain needs to overhaul its competition rules to tackle the dominance of tech giants like Facebook, Google and Amazon, and increase consumer choice, a government review said on Wednesday.
Sports Direct offers Debenhams loan in return for more equity
(Reuters) – Sports Direct said on Wednesday it offered Debenhams an interest-free loan in return for a further 5 percent stake, just as the department store chain was on the brink of securing funds to fend off a bid from Sports Direct’s founder, Mike Ashley, to take charge of the company.
Debenhams rejects Sports Direct complaints about its disclosure
LONDON (Reuters) – British department store Debenhams on Wednesday rejected what it said were “unfounded…
China’s Tesla wannabes risk running out of road in virus-stricken times
HONG KONG/BEIJING(Reuters) – Challenged by the arrival of Tesla in China last year, domestic electric vehicle (EV) start-ups were struggling even before the economic shock wrought by the coronavirus, but now for some it has become a battle for survival.
Exclusive: Retailer Pier 1 taps debt restructuring lawyers – sources
(Reuters) – Pier 1 Imports Inc has tapped debt restructuring lawyers to navigate potential negotiations with lenders as it struggles with falling sales, people familiar with the matter said on Thursday, sending shares of the U.S. home furnishing retail chain sharply lower.
Sephora cuts ties with TV star’s daughter after college cheating scam
(Reuters) – LVMH’s Sephora beauty chain ended its partnership with Olivia Jade following a massive college cheating scandal involving her celebrity parents who were charged this week in an alleged scheme to help rich Americans get their children into elite universities.
Tech makes a comeback as Wall Street’s trendy trade
SAN FRANCISCO (Reuters) – Wall Street’s beloved tech trade is back on.
Foreign brands escape China’s glare at annual consumer day gala
BEIJING/SHANGHAI (Reuters) – China on Friday accused a raft of local firms, from snack makers to a financial tech firm applying for a U.S. listing, of fooling and harassing consumers in an annual event that for the first time in years did not name and shame any foreign or well-known local brands.
Amazon’s second headquarters clears blocks in Virginia funding vote
WASHINGTON (Reuters) – Amazon.com Inc’s planned second headquarters in northern Virginia cleared a key test on Saturday when local officials approved a proposed financial package worth an estimated $51 million amid a small but vocal opposition.
EU looks for evidence to rein in U.S. tech giants
BRUSSELS (Reuters) – U.S. tech giants such as Facebook and Amazon could face tougher rules as European Union regulators seek evidence to curb their role as gatekeepers to the internet and access to people, information and services, according to an EU tender seen by Reuters.
Microsoft to invest $1.5 billion in Italian cloud business
A Microsoft logo is seen next to a cloud in Los Angeles, California, U.S. on…