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Tuesday, mar 11
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Bloomberg News
Business
Forever 21 Preparing To Close 200 More Stores As Bankruptcy Looms: Reports
Forever 21 may close at least 200 more stores and could shut down every location during a possible bankruptcy process, according to reports. Forever 21 is considering the closures and its US operator F21 OpCo. may declare bankruptcy as soon as March, Bloomberg News reported. This would be the fast-fashion chain's second bankruptcy filing in about six years. Unless a buyer acquires the remaining locations, the retailer could be forced to liquidate, shutting down its roughly 350 remaining stores. At its height, Forever 21 operated more than 500 US locations and at least 800 worldwid…
Business
Meta To Cut 5% Of Lowest-Performing Workers, Zuckerberg Braces For 'Intense Year': Reports
Meta will cut thousands of employees in the latest move for the controversial company that owns platforms like Facebook and Instagram, according to reports. An internal memo sent to Meta workers said five percent of low-performing employees will be terminated, Bloomberg News reported. The company that also owns WhatsApp and Threads has more than 72,000 employees, according to Meta's most recent quarterly report. A five-percent reduction would mean about 3,600 people could lose their jobs. "I've decided to raise the bar on performance management and move out low-performers faster,…
Lifestyle
Tech Industry Eyes Next Big Thing Amid Drop In Smartphone Sales
Now that more than 80 percent of American adults own smartphones, tech industries are developing the next big thing. Prompted by a drop in smartphone sales over the past two years, many technology companies - including Apple, Microsoft, Google, Facebook, and Amazon - to get back to research and development, CNBC reported. So what will the next big thing be, according to tech companies? Augmented reality or AR is otherwise known as mixed reality. Here is a still from a video by Apple showing how its new AR (augmented reality) platform will display on a smartphone.Apple This isn’t the…
Real Estate
Trump Tower Now One Of NYC's Least Desirable Luxury Buildings, Report Says
There has been a mass exodus out of Trump Tower in recent years, making it one of the least desirable luxury properties in Manhattan, according to a new report. Bloomberg News reported this week that the 36-year-old building “has been turned into a fortress,” since Trump took over in the Oval Office, with entrances partially blocked and the president’s name turning off liberals in Manhattan. According to reports, condo owners have been cashing out, with many selling at a 20 percent loss to get out of the building. Less than one percent of homes in Manhattan have sold for a loss in the past …
Politics
Bloomberg Rejoins Democratic Party: Who Would You Vote For If He Ran Against Trump?
The race for president in 2020 is getting even more interesting. Former three-term New York City Mayor Michael Bloomberg, who owns an estate in Westchester, announced on Instagram and Twitter that he has re-registered as a Democrat, setting up what many political observers anticipate may become a challenge to Republican President Donald Trump, a native New Yorker. Bloomberg's decision was posted here on Instagram. The announcement quickly spread like wildfire among international media outlets on Wednesday, Oct. 10, including an early scoop, of course, by Bloomberg News in this report: Blo…
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