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Macy's to Close Stores but Pump up Digital Investment

Despite the results, CEO Terry Lundgren said Macy's was "encouraged by the distinct improvement in our sales and earnings trend in the second quarter". Macy's also continues to look for opportunities to unlock value from its real estate portfolio, particularly at flagship locations in cities, a move it's faced pressure to do for the past year.

Business

Deep Fried Twinkies? Hostess is making them in two flavors

Hostess' new Deep Fried Twinkies , hitting stores Friday, has turned a state fair staple and culinary experimentation into a prepackaged snack for the masses. The deep fired version, also, unsurprisingly contains more fat and calories than a regular Twinkie. Fried Twinkies have been a thing for a while, but now they're a thing that's going to be on store shelves near you on a regular basis.

Business

Judge overturns conviction of nephew in 'Making a Murderer'

The petition is meant to request a federal judge to investigate the legality of Dassey's arrest and conviction . Dassey was convicted in 2005 in the murder of photographer Teresa Halbach. Avery spent 18 years in prison for rape before DNA evidence cleared him of the crime and he was freed in 2003. An attorney for Steven Avery says Avery is thrilled that a judge has overturned his nephew's conviction in the case that was profiled in the popular Netflix documentary series " Making a ...

Business

Inflation Target: Rajan Says Over To New RBI Chief, Monetary Policy Panel

Raghuram Rajan, who has been a target of vociferous attack in the last few months, on Tuesday said that he has enjoyed every minute of his job as Reserve Bank of India governor. "While I was open to seeing these developments through, on due reflection, and after consultation with the government, I want to share with you that I will be returning to academia when my term as governor ends on September 4, 2016", he had said in the letter of June 18.

Business

Retail's Streak Snapped as Sales Stall in July

July's unchanged retail sales reading followed an upwardly revised 0.8 percent increase in June, the Commerce Department said. Excluding automobiles and parts sales, sales fell 0.3% in July - the weakest reading since January, after a 0.9% gain in the prior month.

Business

Mourinho Claims United are Title Contenders

Following his claims Arsene Wenger and Jurgen Klopp were "unethical" for their criticisms of Paul Pogba's world-record £89million transfer, the Manchester United manager could not resist a swipe at his competition, while praising his new club's pulling power in the market.

Business

Walmart Now Sells Deep Fried Twinkies

Last year, Paste tried everything deep-fried at a fair, and we can confirm that deep-fried Twinkies are better than the regular ones, "taking off the chemical edge and slightly stale texture". On social media, the reaction to the new treats was mixed. After that, they will be available at other stores. A Hostess executive says they have a "retro cool factor".

Business

Arianna Huffington leaves The Huff Post to focus on her startup

Her co-founders, Kenneth Lerer and Jonah Peretti, would later go on to spearhead the viral sensation Buzzfeed. It has a robust staff that writes original articles, but it is also known for aggressive aggregation, a practice that has at times caused tension in the media industry.

Business

Retail Sales Were Unexpectedly Unchanged in July

Sales at USA retailers were little changed in July as Americans flocked to auto dealers at the expense of other merchants. AMZN, +0.35% and other internet retailers, saw a 1.3% sales gain. US regular gasoline retail prices this summer are forecast to average $2.19 a gallon, 44 cents lower than last summer, according to the Energy Information Administration.

Business

Macy's to Close About 15% of Stores, Cut Jobs

The company said it earned $11 million, or 3 cents per share, in the quarter ended July 30. About 100 full-line Macy's stores will be closing starting early next year. Total sales fell almost 4 percent to $5.87 billion in the second quarter after falling 7.4 percent in the first quarter. Still, comparable sales figures were less rosy, with overall sales at stores open at least a year decreasing 1.2 percent from a year ago.

Business

Clinton campaign reports 34.2 percent tax rate

Yet the Clintons' eight-figure income, which included nearly $6 million from speaking fees and consulting fees for Bill Clinton and more than $4 million in speaking fees and income from book sales for Hillary Clinton, may complicate her attempts to appeal to lower and middle-income voters.

Business

Macy's to shut 100 stores, invest in online

Lundgren as CEO early next year. Amazon.com is by some forecasts expected to surpass Macy's as the largest online seller of clothing next year. According to Macy's , the yearly net sales amount of shops it intends to close down is valued approximately at $1 billion.

Business

Clinton paid 34.2% federal tax last year

Hillary Clinton earned nearly $1.5 million from speaking fees and another $3 million from a book deal. Her campaign site says she also donated about 10 percent of their income to charity. Clinton's tax returns have been made public every year since 1977, her campaign said. A Washington Post-ABC poll in May found that 64 per cent of Americans said Trump should release his taxes, including 54 per cent who felt "strongly" that he should do so.

Business

Donald Trump says Obama-ISIS claim was simply sarcasm

Trump made the claim about Obama and Clinton several times at various rallies earlier in the week. The Republican presidential nominee brushed off conservative radio commentator Hugh Hewitt's attempt to reframe his observation as one that said Obama's foreign policy created the conditions in Iraq and Syria that allowed Isis to thrive.

Business

Weak US retail sales, inflation data dim prospect of Fed rate hike

Amazon said its sales rose 60% on Prime Day compared with a year earlier. Retail sales held steady at a seasonally adjusted 457.7 billion USA dollars last month, the Commerce Department said. While Friday's data suggested consumer spending was cooling after the second quarter's brisk 4.2 percent rate of increase, economists still expected growth in consumption to top a 2.5 percent pace in the current quarter.

Business

Kishida, Yasay agree to beef up cooperation on South China Sea

Japanese Foreign Minister Fumio Kishida said that Japan plans to forge a stronger partnership and cooperation with the Philippines as he is set to meet President Rodrigo Duterte here Thursday afternoon, August 11. Japan is also donating coast guard vessels and leasing aircraft to boost the Philippines' weak military and maritime capabilities. Japan warned China on Tuesday that ties were "deteriorating markedly" over disputed East China Sea islets, and China's envoy in Tokyo reiterated ...

Business

American Simone Manuel wins gold in women's 100 freestyle

She finished 2.1 points ahead of Final Five teammate Aly Raisman , by far her largest margin of victory in her three-year - and counting - win streak. Heading back to her family's home in Spring, Texas, with anything less than a fistful of golds would have been a disappointment. Only Nadia Comaneci, who won three gold medals at the 1976 Olympics, even enters the conversation.

Business

Hillary Clinton Released Her Income Tax Return; Now Where's Trump's?

Clinton and her husband Bill, the former president, reported $10.6 million in income for 2015. The bulk of their income - more than $6 million - came from speaking fees for appearances made largely before Hillary Clinton launched her campaign in April 2015.

Business

Clinton releases tax return, blasts Trump for not doing so

In addition, the Clintons donated 9.8 percent of their adjusted gross income to charity, the campaign reported . The Clintons have disclosed tax returns for every year since 1977. The release of candidate tax returns has been a campaign ritual for decades . Bill Clinton listed $5.3 million in income from speaking engagements and $1.7 million working as a consultant.

Business

Bank of England cuts rates for first time in seven years

Gains for gold gathered momentum after jobless claims, although remaining at relatively low levels historically, rose to the highest level since the end of June. The Bank of England's forecasts for lower growth have the financial markets believing there is more stimulus to come. "The BOE's bond buying programme will provide similar liquidity effects to the ECB's, and could indeed support greater sterling bond issuance across the yield curve", analysts at Moody's said in a note.

Business

Oil climbs in volatile trading, propped up by weaker dollar

Crude soared almost 5 percent on Thursday after Saudi Arabia's energy minister said that oil producers would discuss potential action to stabilize oil prices during a meeting next month in Algeria . The dollar fell 0.1% against a basket of currencies, as the market remained doubtful about a USA interest rate hike before the end of the year. The rebound follows a drop in prices earlier this week after official USA data showed a jump in crude inventories, taking by surprise investors who ...

Business

Report claims DOJ probe of Clinton Foundation, emails ongoing

Multiple FBI investigations into the Clinton Foundation are now ongoing, according to a former senior law enforcement official and reported by The Daily Caller . The former secretary of state's use of a private email server at the State Department has complicated her campaign, particularly as she continues to battle questions from voters about her trustworthiness and honesty.

Business

U.S. drug agency denies marijuana reclassification

The new policy limits the number of universities that will be allowed to grow marijuana . Now only researchers at the University of MS have the government's permission to grow pot. The decision was announced in a lengthy notice in the Federal Register . However, rules for studying marijuana will be relaxed a bit to make it easier for places to grow the plant for research.

Business

Timely GST roll out challenge; inflation impact limited: RBI

That too hasn't yet led to meaningful rate cuts, irking Dr Rajan who steps down from his position on September 4. The reverse repo rate - which commercial banks use to charge the central bank - also remained the same at 6%, Rajan said at the bi-monthly review.

Business

Double-whammy: inflation is rising, factory output is falling

He added that a better monsoon this year could help control food inflation by December. India's statistics office will release retail inflation data and industrial production data at 8 p.m. The total consumer goods segment inched up by 2.8 per cent. This is the highest value in years (since June 2012) and the first one above zero since October of last year when a positive 0.2% was posted.

Business

Hostess Deep Fried Twinkies Are Here: This Is Not a Drill!

Deep Fried Twinkies could be as close as your freezer as Hostess brands making a first move into frozen food. Americans will no longer have to track down their nearest state fair or risk third-degree oil burns to get their deep-fried Twinkie fix.

Business

USA Basketball's record breaking start in Rio

Diana Taurasi led the way with a team-high 13 points. They also broke the largest margin of victory in United States history which had been a 60-point win over Zaire in 1996. "Every game is a tough matchup, even though the score may look like we just blew them out", McCoughtry said. That individual goal would be setting the shot block record.

Business

Oil prices stable after falls

Last week, the U.S. Commodity Futures Trading Commission (CFTC) said short positions in WTI rose to 218, 623 for the week ending on August 2, the highest amount since 2006. The International Energy Agency (IEA) said Thursday demand growth is expected to slow from 1.4 million barrels per day (MMBPD) in 2016, to 1.2 MMBPD in 2017, as underlying support from low oil prices wanes.

Business

Asian shares climb, tracking gains in USA stocks, oil prices

Over the past five days, the S&P 500 rose up 0.05%, the Dow Jones Industrial Average added 0.18%, and the Nasdaq was up 0.23%. The Dow Jones industrial average gained 80 points, or 0.4 percent, to 18,574. US stocks advanced Thursday as better-than-expected economic data and a rebound in oil prices boosted sentiment among Wall Street investors. Earlier in Asia, the Shanghai Composite index added 1.6 percent, while Hong Kong's Hang Seng gained 0.8 percent after China reported retail sales ...

Business

Secret Service swarms stage at Clinton rally

As Donald Trump drops in the polls and alienates would-be allies, the National Rifle Association is standing by the Republican presidential nominee. "He is missing so much about what makes MI great". Clinton called for establishment of a $25 billion government funded infrastructure bank to create jobs for 10 million workers to carry out a massive public works program to fix crumbling roads, bridges and airports.

Business

Hillary Clinton's top State Department aide reportedly helped Clinton Foundation

Another 2009 email reportedly showed Band asking Mills and Abedin to put Lebanese-Nigerian Clinton Foundation donor Gilbert Chagoury in touch with certain State Department officials. Judicial Watch said it has now found 171 messages that weren't included in the 30,000 e-mails Clinton turned over to the State Department. The Clinton Foundation is a different situation.

Business

Chinese, Polish and Bulgarian athletes sanctioned for doping

Swimmer Chen Xinyi accepted a "provisional suspension" after testing positive for a diuretic. Chen has applied to the International Olympic Committee for her B-sample to be tested and for a hearing, it added. The World Anti-Doping Agency (WADA) said in March that it would investigate allegations that Chinese swimming covered up positive tests ahead of Olympic trials.

Business

Clinton to release tax returns in move to pressure Trump

High-profile Republicans and rank-and-file voters appeared shaken on Wednesday after a string of Trump misfires, struggling with how to best reject his divisive candidacy. He said, "I'm in a quandary as to who I am going to vote for". Just this past January, a Wisconsin man was convicted of threatening President Barack Obama's life even though the only weapon he owned was a slingshot.

Business

Global stocks waver ahead of U.S. retail sales data

The price of crude rose by 5% after the comments made by the Saudi Oil minister about possible actions to rebalance prices and the International Energy Agency's projections that crude oil markets would stabilize in the following few months.

Business

OPEC & IEA Report Keep Oil Markets Confused

Brent crude futures settled 93 cents higher at US$46.97 at barrel after touching $47.05, the highest in more than three weeks. But oil prices need to get up to $50 "to really see a balancing and stabilization in the USA", he added. Increased U.S. production could allow the global glut of crude oil to persist, keeping prices low, analysts say. Crude pared some gains after data showed US oil drillers added rigs for a seventh straight week, the longest recovery in the rig count in more than ...


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