Walmart is closing four stores in Chicago, cutting its footprint in half in the third-largest U.S. city after years of mounting losses. The closings mark a retreat for the nation's largest retailer, which faces tough competition in Chicago from the likes of Target, Albertsons, and Aldi. Walmart said it had tried and failed to improve its performance by building smaller stores, localizing its merchandise offerings, and investing $70 million in recent years on store upgrades.
Some people have a large single stock position from a company they used to work at... but not everyone knows what to do with it. Gina DeRaimo, SVP, Head of The Options Institute at Cboe Global Markets, joins Cheddar News to break down what you can do with large stock positions.
Professional networking platform LinkedIn says it's laying off more than 700 workers and shuttering its China jobs app, in the latest round of tech industry downsizing.
Tyson Foods suffered a surprise loss in the second quarter, something not since 2009, and cut its sales forecast due to the cost of plant closures and layoffs.
Cheddar News checks in on what to look for on The Day Ahead as President Joe Biden meets with House Speaker Kevin McCarthy to look to resolve the debt ceiling debate. Earnings are also slated to be reported from companies including Airbnb, AMC Networks, Electronic Arts and Nintendo.
A study on the U.S. banking system found nearly 190 banks are at risk of failure. Preston D. Cherry, founder and president of Concurrent Financial Planning, joined Cheddar News to explain the process if you have a mortgage with a bank that collapses.
