Business News
Walgreens And Rite Aid To Close Nearly 1,500 DrugsStores
Rite Aid, the third-largest pharmacy chain in the nation, finds itself grappling with a daunting $3.3 billion debt burden and impending settlements related to opioid lawsuits. Faced with these financial woes, the company is on the brink of bankruptcy. In an attempt to navigate these troubled waters, Rite Aid is considering closing between 400 to 500 of its 2,100 stores. However, bondholders are pushing for even more extensive closures. Last year, Rite Aid’s retail pharmacy segment raked in $17.8 billion in revenue and $288 million in adjusted EBITDA.
South Korea Leads the Way in EV Infrastructure Development
The development of electric vehicle (EV) infrastructure is a pivotal factor driving the global transition toward electric mobility. Public charging stations are the backbone of the EV ecosystem, alleviating range anxiety and ensuring convenient access to charging for EV owners, especially those without home charging facilities or frequently on the move. As per data from […]
TARGET : The Growing Challenge of Organized Retail Crime: Why Retailers Are Closing Stores
Target announced the closure of nine of its stores in major cities. The reason? Rampant and persistent large-scale theft. This decision is a glaring indicator that retailers are grappling with a dangerous problem that seems to be spiraling out of control.
Amazon to invest $4 billion in Anthropic – An Artificial Intelligence Company
SAN FRANCISCO, Sept 25 (Reuters) – Amazon.com (AMZN.O) on Monday said it will invest up to $4 billion in cash in the high-profile startup Anthropic, in its effort to compete with growing cloud rivals on artificial intelligence. Amazon’s employees and cloud customers will gain early access to technology from Anthropic as part of the deal, […]
Altaba Announces Liquidating Distribution of $0.96 Per Share
Altaba Inc. (AABA), formerly Yahoo!, announced on February 9, 2023 that its board of directors had approved a liquidating distribution of $0.96 per share of the company’s common stock. The distribution was payable on February 17, 2023 to shareholders of record as of February 10, 2023.