Business

Sears to stay in business after Eddie Lampert’s hedge fund wins bankruptcy auction

An empty shopping cart sits outside a Sears store in the Streets of Southglenn mall in Littleton, Colo.David Zalubowski/AP Photo file Eddie Lampert, the dogged billionaire who’s hitched his career and reputation to a fading American retail icon, will get another chance at reviving Sears Holdings Corp. In an agreement reached in the wee hours […]

Business

Children’s clothing retailer Gymboree files for bankruptcy again, will close 800 stores

Gymboree's bankruptcy filing is the second in two years.David Paul Morris/Bloomberg Children’s clothing retailer Gymboree Group Inc filed for Chapter 11 bankruptcy protection, the second time in almost two years, and said on Wednesday it will close more than 800 Gymboree and Crazy 8 stores. The San Francisco-based company said it will also sell its […]

Business

Feud with Canada is damaging China’s reputation in the world, ambassador warns

Canada's ambassador to China John McCallum told reporters Wednesday that China's prosecutions of Canadian nationals risked undermining their own interests among the world's business community.Canadian Press/Paul Chiasson Canada’s ambassador to China warned that the spiralling diplomatic feud between the nations was damaging Beijing’s reputation, as the U.S. joined countries criticizing a Canadian citizen’s death sentence […]

Business

Hudson’s Bay chairman’s firm to buy Ontario pension fund stake in retailer; stock surges more than 12%

Hudson's Bay Co Chairman Richard Baker is buying shares in the retailer through his firm Rupert of the Rhine LLC.Canadian Press An entity controlled by Hudson’s Bay Co Chairman Richard Baker will buy the stake owned by a unit of Ontario Teachers’ Pension Plan Board in the Canadian retailer, according to L&T B Cayman Inc, […]