"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.World Economyread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Tensions between South Korea and Japan may ultimately disrupt the high-end tech sectors, says Heenam Choi, CEO at South Korea's sovereign wealth fund.Traderead more
On Sunday, the 71st Primetime Emmy Awards will honor the best comedies, dramas, limited and variety series from the last year.Entertainmentread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
There are challenges with Iran, North Korea, the Afghan Taliban, Israel and the Palestinians — not to mention a number of trade pacts.Politicsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
In his new memoir, "The Ride of a Lifetime," Iger explains why he decided against the deal to buy Twitter.Technologyread more
In perhaps Buffett's first televised profile, he explained a method of investing that prioritizes bargains and makes use of an occasional baseball analogy.Marketsread more
Gluskin Sheff's David Rosenberg reinforces his recession forecast following the Federal Reserve's September meeting.Futures Nowread more
Struggling British department store chain Debenhams is closing 50 of its underperforming stores, putting around 4,000 jobs at risk, as write-downs in the value of its business led to a record full-year loss of nearly 500 million pounds ($645 million).
Chief Executive Sergio Bucher said he was "taking decisive steps to strengthen Debenhams" in a challenging market.
"We are taking tough decisions on stores where financial performance is likely to deteriorate over time," he said on Thursday.
Bucher, a former Amazon executive, is trying to keep Debenhams relevant to British shoppers who are increasingly buying online and spending less on clothes.
The cuts are deeper than Bucher's original plan to close 10 stores, downsize others and renegotiate leases and rents on its estate.
Last month, Debenhams denied it was actively planning a major cull of its 166-store UK estate.
"We want to have fewer but better stores, with a better shopping experience," he told BBC radio. "We want to grow our online business and we want the whole of the organisation to be more profitable."
Debenhams shares were down 2.4 percent at 8.3 pence in early trading.
The British retailer, which has issued three profit warnings this year, took exceptional charges of 512.4 million pounds relating to leases and goodwill, leading to a statutory loss of 491.5 million pounds, the biggest in its 240-year history.
Underlying pre-tax profit for the year to Sept. 1 slumped 65 percent to 33.2 million pounds, a result that Bucher said reflected "a tough year for retail".
Debenhams is not the only retailer that has suffered on Britain's high street.
BHS went bust in 2016, House of Fraser was bought out of administration in August by Mike Ashley's Sports Direct and even market leader John Lewis has warned on profit.
Sports Direct owns just under 30 percent of Debenhams but has ruled out a bid.
Bucher told BBC radio that the number of jobs losses from the store closures over the next three-to-five years had not been quantified.