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Sears to stay in business after Eddie Lampert’s hedge fund wins bankruptcy auction

Sears to stay in business after Eddie Lampert’s hedge fund wins bankruptcy auction

An empty shopping cart sits outside a Sears store in the Streets of Southglenn mall in Littleton, Colo.David Zalubowski/AP Photo file Eddie Lampert, the dogged billionaire who’s hitched his career and reputation to a fading American retail icon, will get another chance at reviving Sears Holdings Corp. In an agreement reached in the wee hours

Goldman says rich people will drag down the U.S. economy this year

The share of personal consumption expenditures spent on jewelry is "highly correlated with moves in the stock market," Goldman Sachs economist wrote in a Jan. 15 report.Victor J. Blue/Bloomberg files The stock-market sell-off is going to be a significant drag on the U.S. economy this year as wealthy households feel its impact, according to Goldman

RBC cuts 5-year fixed mortgage rate, other banks expected to follow

After a fall in five-year bond yields, RBC cut its advertised five-year fixed mortgage rate.Nathan Denette / THE CANADIAN PRESS Royal Bank of Canada has lowered its posted five-year fixed rate by 15 basis points from 3.89 per cent to 3.74 per cent. Mortgage rate comparison website founder Robert McLister says RBC is the first

Feud with Canada is damaging China’s reputation in the world, ambassador warns

Canada's ambassador to China John McCallum told reporters Wednesday that China's prosecutions of Canadian nationals risked undermining their own interests among the world's business community.Canadian Press/Paul Chiasson Canada’s ambassador to China warned that the spiralling diplomatic feud between the nations was damaging Beijing’s reputation, as the U.S. joined countries criticizing a Canadian citizen’s death sentence

Forget about getting fresh trade data — the U.S. shutdown is now hitting Canada

Statistics Canada said Thursday trade data likely won't be published until after the U.S. Census Bureau resumes normal operations.Postmedia Canada’s statistics agency will stop releasing monthly merchandise trade data indefinitely because of the U.S. government shutdown. Statistics Canada said Thursday the next trade report, due Feb. 5, won’t be published as scheduled. The delay will

Sears saved by chairman’s $5.2 billion bid, last-minute reprieve for up to 45,000 workers

Sears Holdings Corp chairman Eddie Lampert won the bankruptcy auction with an improved takeover bid of US$5.2 billion, allowing the 126-year-old retailer to keep its doors open.AP Photo/David Zalubowski, File Sears Holdings Corp Chairman Eddie Lampert won a bankruptcy auction to buy the once iconic U.S. retailer after presenting an improved offer of US$5.2 billion,

These Instacart workers want you to leave them a 22-cent tip after payment changes slash paycheques

Some Instacart workers say they have seen "dramatic cuts” in their paycheques, with some now making a third less than before.Courtesy Instacart More than 100 Instacart Inc. workers are calling on customers to support reforming the grocery delivery app’s payment practices — by leaving them 22-cent tips. The counterintuitive call for paltry gratuities is meant

It’s time for the U.S. to loosen its grip on the World Bank

Jim Yong Kim’s surprise resignation as president of the World Bank is effective Feb. 1.Andy Wong/AP Photo files As Chrystia Freeland, Canada’s minister of global affairs, collected her various awards for outstanding diplomacy in 2018, she insisted that the multilateral system of commerce, law and human rights had a future, even if the United States