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Old Navy plans to open 800 new stores

Old Navy outlined plans Thursday to open 800 new stores, its first major announcement since the Gap, its parent company, announced it would spin off the lower-priced brand. “We’ll almost double our fleet to 2,000 stores in North America, predominantly in under-served small markets,” Sonia Syngal, CEO of Old Navy, said at an investor conference.…MORE

Altria made a big bet on vaping. Will it still pan out?

The Trump administration is cracking down hard on the sale of flavored e-cigarettes. Health concerns and teen addiction have given regulators pause. That could be bad news for Altria, the US owner of the Marlboro brand and a top investor in vaping giant Juul Labs. Shares of Altria fell slightly Thursday. So did the stock…MORE

Virginia Lt. Gov. Justin Fairfax sues CBS over interviews with sexual assault accusers

Virginia Lt. Gov. Justin Fairfax on Thursday filed a lawsuit against CBS, alleging the network defamed him when it aired interviews earlier this year with two women who accused him of sexual assault. The lawsuit, filed in federal court in the Eastern District of Virginia, demands $400 million for alleged defamation and “severe emotional distress”…MORE

Dow hits 7th straight day of gains as US delays China tariffs

The Dow hit a seventh day of gains in a row Thursday, with stocks higher after the United States said it would delay some tariffs on Chinese imports. The Dow, which had briefly turned negative in the first minutes of trading, finished up 46 points, or 0.2%. The index has risen seven days in a…MORE

How the Washington Post has changed under Jeff Bezos

Amazon chief Jeff Bezos bought the Washington Post in 2013, and within three years the paper had doubled its web traffic and become profitable — an impressive feat for a media company that struggled in the wake of the financial crisis. The swift turnaround is impressive, to be sure, but what makes Bezos different from…MORE

Deere struggles as farmers fret about the trade war

American farmers are nervous about the US trade war with China. That’s a big problem for Deere. The agricultural equipment company reported earnings and sales that missed Wall Street forecasts Friday, and Deere lowered its outlook. Overall revenue fell 3% from a year ago. The results “reflected the high degree of uncertainty that continues to…MORE

Warren Buffett is lying in wait. Berkshire Hathaway has $122 billion in cash

Berkshire Hathaway’s cash pile keeps growing. Warren Buffett’s industrial and insurance conglomerate ended the second quarter with a record $122 billion in cash, according to an earnings report released on Saturday. Buffett has said he wants to make a big acquisition, but in a letter to shareholders this year said prices “are sky-high for businesses…MORE

Instagram is changing the way people buy things

Instagram is great for sharing photos, interacting with celebrities and discovering trendy looks — everything even Amazon has struggled to perfect. Fashion houses, retailers and big brands see an opportunity. Until recently, brands have used Instagram mostly as an advertising tool to reach consumers. But Instagram has made a series of moves to become a…MORE

Trump is playing a dangerous game with America’s economy

President Donald Trump’s escalating trade war against China threatens to inflict a powerful shock to the American economy that not even the Federal Reserve can fully absorb. The Fed cut interest rates this week for the first time in nearly 11 years, effectively lowering the odds of a recession in the United States. Just 24…MORE

Here’s what you need to know about the 2019 FIFA eWorld Cup

The “Fortnite” World Cup may be over, but if you haven’t gotten your fill of competitive e-sports, don’t worry. The 15th FIFA eWorld Cup takes place Friday to Sunday. Here’s what you need to know about the tournament. What it is The tournament is the virtual soccer equivalent to World Cup. Thirty-two competitive gamers who…MORE

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