Toys R Us Plans Bankruptcy Filing Amid Debt Struggle

Amazon.com Inc. Filing for bankruptcy would allow Toys “R” Us to restructure $400 million in debt that comes due next year, potentially letting the chain rebuild as a leaner organization. The retailer has hired a claims agent, which typically helps with administering such a process, people with knowledge of the situation said last week. And its vendors have been curtailing shipments amid concern that Toys “R” Us might not be able…

October 9, 2017
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Cruise Lines Send Ships to Caribbean on Hurricane Rescue Mission

Norwegian Cruise Line Holdings Ltd. are sending some of their empty ships to the Caribbean to help evacuate stranded tourists and bring much-needed supplies to islands severely damaged by Hurricane Irma. Norwegian expects to pick up 2,000 travelers unable to leave the island of St. Thomas prior to the storm. Its ship, Norwegian Sky, which normally cruises between Miami and the Bahamas, is sailing from its present location off the…

October 3, 2017
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Clean Energy Is Approaching a Tipping Point

The cost of renewables is plunging faster than forecasters anticipated just a few years ago as as technologies like gigantic wind turbines arrive on the market. That’s the conclusion of Bloomberg New Energy Finance, whose founder Michael Liebreich estimated that clean energy will reap 86 percent of the $10.2 trillion likely to be invested in power generation by 2040. In a presentation to the research group’s conference in London on…

October 2, 2017
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China’s Fossil Fuel Deadline Shifts Focus to Electric Car Race

China will set a deadline for automakers to end sales of fossil-fuel-powered vehicles, becoming the biggest market to do so in a move that will accelerate the push into the electric car market led by companies including BYD Co. and BAIC Motor Corp. Xin Guobin, the vice minister of industry and information technology, said the government is working with other regulators on a timetable to end production and sales. The…

October 2, 2017
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Toys R Us Collapses Into Bankruptcy Thanks to Crushing Debt

The filing is the latest blow to a brick-and-mortar retail industry, which has seen a string of bankruptcies from Payless Inc. and Gymboree Corp. to Perfumania Holdings Inc. Chains are reeling from store closures, sluggish mall traffic and the gravitational pull of Amazon.com Inc.’s lower costs and global home delivery. More than 10 percent of U.S. retail space, or nearly 1 billion square feet, may need to close, convert to…

September 29, 2017
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Bitcoin Tumbles as PBOC Declares Initial Coin Offerings Illegal

Bitcoin tumbled the most since July after China’s central bank said initial coin offerings are illegal and asked all related fundraising activity to be halted immediately, issuing the strongest regulatory challenge so far to the burgeoning market for digital token sales. The Read more: The Chinese ICO crackdown — a Gadfly column ICOs are digital token sales that have seen unchecked growth over the past year, raising threat to their reign….

September 28, 2017
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