Target beat second-quarter earnings expectations thanks to an increase in traffic and sales. The retailer boosted its full-year estimates.Retailread more
Corporate debt recently passed the $1 trillion mark in a continuing sign of global financial displacement.Marketsread more
Trump said he has "been thinking about payroll taxes for a long time" — and he cautioned that "whether or not we do something now, it's not being done because of recession."Politicsread more
"Lowe's has lagged for years ... it seems that under the guidance of Marvin, the new CEO, Lowe's is really getting its act together," said Oppenheimer analyst Brian Nagel.Retailread more
President Donald Trump said on Twitter he was postponing a scheduled meeting with Denmark's prime minister because of her lack of interest in discussing a possible sale of...World Politicsread more
After a rush on refinances, homeowners took a breather last week, despite still seeing the lowest interest rates in about three years.Real Estateread more
After Elon Musk touts Tesla solar on Twitter, Walmart sues the electric vehicle and clean energy company over store rooftop panels that ignited.Technologyread more
The bond market has entered a financial twilight zone, and at this point, there doesn't seem to be a smooth way out.Market Insiderread more
Huawei CEO Ren Zhengfei laid out plans to bring more efficiencies to the organization. This included simplifying the reporting structure, cutting down on surplus staff, axing...Technologyread more
Wall Street still has an appetite for Beyond Meat, but two traders have a better way to play the stock.Trading Nationread more
China has used both monetary and fiscal measures to lift economic activity as its trade war with the U.S. looks set to intensify in the coming months.China Economyread more
Toys R Us is studying one proposal that could keep the business afloat and keep open roughly 200 U.S. stores open after the retailer liquidates, people familiar with the situation told CNBC on Wednesday.
Such a deal would therefore keep the lights on at roughly one quarter of its 800 U.S. stores. It has already started the process of shuttering approximately 180 of them.
CNBC reported yesterday the iconic U.S. retailer is in the process of drafting the court motion for its liquidation plan that could come as soon as the end of the day Wednesday. It will then begin to wind down the storied toy retailer, after more than half a century in business.
Even as it winds down, the retailer is looking for ways to keep the brand alive, said the people familiar with the company's plans. In one plan, the company would sell the stronger Toys R Us Canadian business, along with roughly 200 of its most profitable U.S. stores, to a new buyer. The new business would then be run out of Canada.
The company does not plan to liquidate its Canadian business.
There is no buyer secured yet, though there are several circulating, the sources said. It is possible Toys R Us only finds a buyer for the Canadian operations and not any U.S. stores. It is also possible it finds no buyer at all.
Plans continued to evolve for the retailer, even as it puts the final touches on its liquidation plans.
CEO Dave Brandon outlined Toys R Us' plans and options in a Wednesday afternoon meeting with employees, sources familiar with the situation told CNBC.
At the meeting, employees were also told they have 60 more days of employment at Toys R Us, a requisite Brandon argued strongly for in negotiating the businesses' liquidation, one of the sources said.
The people requested anonymity because the information is confidential. Toys R Us declined to comment.
Toys R Us' U.K. operations on Wednesday announced it will be shuttering the group's store base within six weeks. The U.K. arm of Toys "R" Us in Februrary entered administration, a form of creditor protection.