The U.S. had plans to hike duties on at least $250 billion in Chinese goods to 30% from 25% on Tuesday. Despite the partial trade deal, some banks on Sunday wrote that tariff...Marketsread more
The industry has pulled in $322 billion over the past six months, the fastest pace since the second half of 2008.Marketsread more
A technical recession occurs when there are two consecutive quarters of economic contraction.Asia Economyread more
A spokesperson for the U.S.-backed Syrian Democratic Forces (SDF) has issued a stark warning to the international community.World Newsread more
The potential deal would shift Neumann's already diminished voting power to the Japanese conglomerate, according to the Journal.Technologyread more
U.S. President Donald Trump said that both sides reached a "very substantial phase one deal" that will address intellectual property and financial services concerns and...Asia Marketsread more
On Friday, Zedd tweeted about the ban, and CNBC verified the claim with his publicist on Saturday.China Politicsread more
Hunter's vows to forgo any foreign work follow a slew of unsubstantiated attacks by President Donald Trump accusing him of corruption.Politicsread more
Apple, the company that created the modern-day smartphone, is relying on technology customers are already extremely familiar with, like cameras, and taking a backseat when it...Technologyread more
Fisher was initially defiant amid the backlash in an interview with Bloomberg, in which he said he had "given a lot of talks, a lot of times, in a lot of places and said stuff...Personal Financeread more
Airlines continue to delay when they plan to have the planes back again with no sign from regulators on when the planes will be approved again.Airlinesread more
Bed Bath & Beyond said on Monday it appointed five new independent members to its board, replacing some directors including co-founders Warren Eisenberg and Leonard Feinstein, after facing pressure from a trio of activist investors.
Shares of the New Jersey-based home furnishing retailer fell about 3 percent in mid-day trade.
Last month, activist investors Legion Partners Asset Management, Macellum Advisors GP, and Ancora Advisors urged Bed Bath & Beyond to replace its entire board and oust Chief Executive Steven Temares, citing the company's inability to grow sales and margins.
The company's latest board shake-up, however, did not please the trio, which declined an invitation to participate in the transformation of the board.
Legion Partners said it was "disappointed" with the fact that the CEO would continue in his post.
The investors said the new additions to the board do not have the required skill sets and retail experience to effect swift and real change as opposed to their slate of 16 members with varied retail experience.
Bed Bath & Beyond said its new appointees are "leaders in the fields of global retail, merchandising, technology, logistics, finance and governance" and have held senior positions in companies such as Amazon, Avon Products and Family Dollar Stores.
"The changes announced today reflect significant shareholder input and underscore our commitment to ensuring we have best-in-class governance," said Patrick Gaston, who was named an independent chairman.
Following the changes effective May 1, the board will comprise 10 directors, nine of whom are independent and six women, the company said.
The retailer has struggled to keep pace with changing consumer tastes and shopping habits over the years, even after introducing experimental store formats, investing in its decorative furnishing business and digital platforms.
In its latest results, the retailer forecast dismal first-quarter profits that raised doubts on the efficacy of its turnaround plan.
"We still believe investors would like to see changes to the management team," Telsey Advisory Group analyst Cristina Fernandez said.
Shares of the retailer have risen nearly 26 percent since March 26 when the activist investors demanded changes in the company.
The stock is also heavily shorted, with 35.65 percent of company shares being held by short sellers as of March 29, according to Refinitiv IBES data.