Toys "R" Us is closing its doors after 70 years in business. The toy retailer will close all of its stores and plans to liquidate the remaining inventory. In total, Toys "R" Us had around 800 stores. This means that approximately 33,000 people will lose their jobs. The company filed for bankruptcy six months ago and has been struggling to restructure its debt since then.
In other bankruptcy news, iHeartMedia is filing for bankruptcy protection. The largest U.S. radio company said it reached an in-principle agreement with investors to restructure its debt.
Currently, the company has more than $20 billion in debt. iHeartMedia, which owns iHeartRadio, has been faced with declining sales and a shrinking customer base in recent years.
The former CEO of Walmart.com joins us to talk about his new book. Carter Cast gives readers an honest look at his own career path in "The Right and Wrong Stuff: How Brilliant Careers Are Made and Unmade." He opens up to Cheddar about his many successes and failures over the years.
Plus, we talk to the cast of "Love, Simon" about their new movie that hits theaters this Friday. Jennifer Garner stars alongside Nick Robinson and Katherine Langford from Netflix's "13 Reasons Why" in this coming-of-age story. The cast agrees that the time was right for this film, which centers around a gay high school student. "Love, Simon" hits theaters Friday, March 16.
Walmart Inc. is raising the starting base pay for store managers, while redesigning its bonus plan that will put more of an emphasis on profits for these leaders.
Despite concerns about shipping delays in the Red Sea, RSM Chief Economist Joe Brusuelas says there are still reasons to be optimistic about the state of the U.S. economy.
Dan Ives, Managing Director and Senior Equity Analyst at Wedbush Securities dives deeper into a report by the International Data Corporation (IDC) that Apple has ended Samsung's 12-year reign as the world's largest smartphone seller.
Artificial intelligence is the biggest buzzword at the World Economic Forum’s annual meeting in Davos. Advances in generative AI stunned the world last year, and the elite crowd is angling to take advantage of its promise and minimize its risks.
Smartphones could get much smarter this year as the next wave of artificial intelligence seeps into the devices that accompany people almost everywhere they go.
In an annual assessment of global inequalities, Oxfam International said the first trillionaire could emerge within the next decade — as the anti-poverty organization pointed to the growing wealth gap that skyrocketed globally during the pandemic.
The Biden administration proposed a cost drop for overdrawing bank accounts, which it says could particularly relieve Americans living paycheck to paycheck.
