Normally, when the Fed starts loosening policy it does so amid clear-cut signs of economic weakness.Economyread more
Wall Street economists are anxiously awaiting Wednesday's FOMC meeting.Marketsread more
With bold and targeted steps, economists say, government can increase opportunity and incomes for many more people in ways that strengthen, not weaken, American capitalism.Politicsread more
CNBC's Jim Cramer connects the dots by reasoning that if the president were to act he would pick a replacement for Powell that would do his bidding.Economyread more
Shoppers are "very nuanced in their expectations," Ron Johnson, the former CEO of J.C. Penney and the former senior vice president of Apple's retail division, said at CNBC's...Evolveread more
We've been given plenty of reasons to quit Facebook, including a new report that alleges disgusting working conditions at a company, Cognizant, it uses to employ contractors....Technologyread more
This just might be Fed Chair Jerome Powell's toughest meeting yet, because whatever the outcome, odds are high that it will disappoint a large group.Market Insiderread more
More and more American firms are calling for the Trump administration to resolve its conflict with China.World Economyread more
Facebook is leading the FANG stocks this year, and Miller Tabak's Matt Maley foresees more upside.Trading Nationread more
All trains traveling in and out of New York Penn Station have been halted because of an Amtrak overhead wire issue, New Jersey Transit said Wednesday.Transportationread more
American Airlines is the first major U.S. airline to order Airbus' new long-range, single aisle aircraft.Paris Air Showread more
Diesel USA, the denim and accessory brand known for its jeans, filed for bankruptcy on Tuesday, blaming mounting losses, a sales plunge, expensive leases and cyber fraud.
The New York-based unit of Italy's Diesel SpA filed for Chapter 11 protection from creditors with the U.S. bankruptcy court in Delaware. Its parent is not part of the filing.
Diesel USA said it has been the sole distributor of Diesel products in the United States since its 1995 launch.
But it said it has not been spared in the recent downturn in the retail sector, having lost money for six straight years as annual sales plunged 53 percent, to $104 million. Theft and cyber fraud cost $1.2 million over three years, it added.
In a court filing, Chief Restructuring Officer Mark Samson said Diesel USA has no plans to close, but intends to exit some of its 28 stores, where landlords' refusal to offer lease concessions has led to heavy losses.
He said the company's three-year business plan contemplates focusing on more profitable stores, improving its product lines and working with social media "influencers" to attract Millennials, "Generation Z" and other new customers.
A successful reorganization would enable Diesel USA to operate as an "iconic and profitable brand," Samson said.
Many other retailers have gone bankrupt in recent years as more consumers shop online.
Recent victims have included shoe chain Payless, which said last month it will close its roughly 2,500 stores.
The Diesel USA bankruptcy followed a Feb. 13 announcement by Levi Strauss & Co, which invented blue jeans in 1873, that it plans to return to the U.S. stock market after a 34-year hiatus, through an initial public offering.
Diesel USA said it has $50 million to $100 million of assets, and $10 million to $50 million of liabilities.
The case is In re Diesel USA Inc, U.S. Bankruptcy Court, District of Delaware, No. 19-10432.