Biz Headlines: Microsoft CEO in Court, United Under Fire Over Cancellations, Judge OKs Bed Bath Deal

In Wednesday's business headlines, Microsoft CEO Satya Nadella is due in court to defend the company's takeover of Activision Blizzard and United Airlines is under fire over its recent cancellations with CEO Scott Kirby blaming the FAA for the disruptions. Meanwhile, a judge approved Overstock's purchase of Bed Bath & Beyond assets.

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Bed Bath & Beyond Defaults on Credit Line, Considers Bankruptcy

Bed Bath & Beyond has defaulted on a major credit line with JPMorgan and is now considering "all strategic alternatives," including bankruptcy, to right its financial ship.

Hasbro Cutting 1,000 Jobs Ahead of Lackluster Holiday Earnings

Hasbro has announced that it is cutting 1,000 jobs or about 15 percent of its global workforce after warning that its upcoming holiday quarter results would come in lower than expected.

Cheddar Morning News Briefings of January 27th

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Hasbro Lower On Weak Forecast, Job Cuts

Hasbro shares sank after hours after it warned of weak results and announced job cuts.

Report: Smartphone Demand Down Worldwide

Demand for new smartphones has declined globally last year to its lowest level since 2013, according to IDC.

How Some Companies Are Helping Workers Pay Off Student Loans

Kia McCallister-Young, director of America Saves, joined Cheddar News to discuss how companies are offering programs to assist workers to pay off student loan debt.

GDP Grew Annually At 2.9% In Q4, Despite Recession Fears

The U.S. economy grew at an annual rate of 2.9% in the fourth quarter, slower than the last quarter but above estimates, despite recession concerns.

Burrito SZN: Chipotle to Hire 15,000 Employees Before Spring

Chipotle is looking to hire about 15,000 workers ahead of burrito season in the spring.

Cheddar Quick Hit GSTV weekend of January 28th and 29th

Cheddar Quick Hit GSTV

Southwest Air Faces Federal Probe Over Flight Cancellations

Southwest Airlines is now the subject of a federal investigation over the holiday travel meltdown that led to the cancellation of over 17,000 flights.

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