An activist investor is pushing department store chain Kohl’s to either sell the entire company or spin off its e-commerce division. In a letter posted online on Monday, Engine Capital said that it wants the Menomonee Falls, Wisconsin-based retailer to consider these alternatives to boost the stock price. Engine Capital said that if the company chose spinning off its e-commerce division, a move similar to what Saks did earlier this year, the stand-alone business could be valued at $12.4 billion or more. That amount dwarfs the company’s current market capitalization. Kohl says the board and management team “continuously examine all opportunities for maximizing shareholder value."
A majority of Americans support higher pay for auto workers who are on strike against Detroit's Big Three carmakers, although approval of the workers' other demands is more mixed, according to a poll from The Associated Press-NORC Center for Public Affairs Research.
The ongoing United Auto Workers strike expanded Thursday in a major blow to Ford as the union ordered 8700 workers to walk off the job at the automaker giant's largest plant.
A retired bank official testified that former president Donald Trump obtained hundreds of millions of dollars in loans based on financial statements that have since been deemed fraudulent.
