Trump administration calls the structure of the Consumer Financial Protection Bureau unconstitutional in filing – Washington Post

Consumer Financial Protection Bureau Director Richard Cordray in Richmond. In court documents filed Friday, the Justice Department argued that the president should be able to remove the director of the independent agency at will, a shift that consumer advocates say could threaten the independent nature of the CFPB. (Steve Helber/Associated Press) The Justice Department will […]

JCPenney will close 7 stores in Michigan –

JCPenney will close 138 stores nationwide in a move affecting 5,000 employees, the company announced Friday morning, March 17.  The 138 figure includes seven Michigan-based stores, ranging from the Upper Peninsula to Battle Creek. “JCPenney is in the process of identifying relocation opportunities within the Company for esteemed leaders,” the release reads. “Additionally, JCPenney will provide […]

See if your JC Penney store is among 138 closures – USA TODAY

See if your JC Penney store is among 138 closures – USA TODAY

CLOSE x Embed x Share Different shopping habits of young people are causing major department stores to struggle and rethink their retail strategies. Time (Photo: Motley Fool) J.C. Penney on Friday released a list of 138 department stores it plans to close as part of a previously announced plan to shrink its footprint as it […]

Here’s how the Fed raises interest rates – Business Insider

Here’s how the Fed raises interest rates – Business Insider

Samantha Lee/Business Insider Banks give out money all the time — but for a fee. When we borrow and then pay back with interest, it’s how they make money. The cost of borrowing — interest rates — makes a big difference on which credit card you choose, or whether you get one at all. If […]

Toshiba pushes sale of nuclear unit Westinghouse as crisis deepens – Reuters

TOKYO Toshiba Corp (6502.T) is ‘actively considering’ a sale and other strategic options for U.S. nuclear unit Westinghouse, the group said on Tuesday, as it expanded a probe into problems there that caused it to miss an earnings deadline for a second time. The Japanese conglomerate said it believed it could find buyers for a […]

Valeant Slumps After Longtime Backer Ackman Exits With a Loss – Bloomberg

Valeant Pharmaceuticals International Inc. stock slumped after Bill Ackman, once its biggest champion, exited the struggling drugmaker at a loss. After waging a costly and outspoken public defense of the controversial drugmaker, Ackman said late Monday that he sold his entire stake and that he would leave the board. The shares, already down more than […]

Intel to buy Mobileye for $15.3 billion – MarketWatch

Silicon Valley is deepening its bet that cars will increasingly morph into computers on wheels. Intel Corp. on Monday said it struck a deal to buy Mobileye NV for about $15.3 billion, the latest investment by a technology company in the future of self-driving cars. The deal values Mobileye at $63.54 a share, a […]

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