Many investors and analysts have increasingly lowered their expectations for the U.S. and China to find a quick resolution.World Economyread more
Billionaire investor Howard Marks, the co-chairman of Oaktree Capital, predicts there won't be a recession in the U.S. for another two years.US Economyread more
Network officials also said voters should expect more of a Koch focus on grassroots activism throughout the 2020 election cycle.Politicsread more
One person was killed and five others wounded on Thursday in a shooting on the streets of Washington, D.C., not far from the White House, police said.U.S. Newsread more
Stores are extending hours and cities are spending on light shows as China tries to encourage consumers to spend more money at night.China Economyread more
New research suggests fewer girls pursue careers in STEM — science, technology, engineering and math — because they're better than boys at reading.Closing The Gapread more
Stocks in Asia Pacific edged up in Friday afternoon trade as a series of developments overnight on the U.S.-China trade front dampened hopes of a deal being reached between...Asia Marketsread more
GM's usage of temporary workers, potential closure of plants and health care contributions remain major sticking points, according to people familiar with the talks.Autosread more
In a room full of avowed capitalists, policies that sound to some like socialism are bound not to go over well.Delivering Alpharead more
Trump has criticized Facebook numerous times since becoming president, most recently posting on Twitter that the company's proposed digital currency, libra, will "have little...Technologyread more
Republicans and Democrats have long since separated themselves by ideology, leaving each more uniformly conservative or liberal than ever. And now a new data analysis by the...Politicsread more
VF Corp. will spin off Lee and Wrangler jeans into an independent public company, the company said on Monday, seeking to focus more on profitable brands such as Vans sneakers and The North Face outdoor wear.
Skateboarder favorite Vans has driven much of VF's growth in recent years while its jeans business has underperformed as large retailers including Walmart promoted their own private labels instead.
Annual sales of VF-made jeans fell 1 percent in the company's latest reporting period, while overall sales climbed 12.5 percent.
VF has already sold apparel brand Nautica as it seeks to concentrate on its faster-growing outdoor and athletic names. The new VF also holds onto Timberland and will have annual revenue of more than $11 billion, compared to just over $2.5 billion for the new jeans company.
VF will shift base to Denver while the still-to-be-named jeans company will move to the company's traditional base in Greensboro, North Carolina, and be led by Scott Baxter, currently president of VF's Americas West group.
Baxter led VF's jeans business from 2011 to 2015 and will focus on increasing sales in China and other Asian markets at the new company.
VF said the spin-off would also give it more flexibility to pursue acquisitions and explore new business areas. It will be structured as tax-free to shareholders and is expected to close in the first half of 2019.
VF, which has a market value of about $38 billion, said it would take charges for the deal without giving details.
Barclays was VF's financial adviser while Davis Polk and Wardwell provided legal counsel.