Macy's is closing 66 stores as part of its "A Bold New Chapter" plan, with liquidation sales set to start in January, the retailer confirmed to Axios Thursday.
Why it matters: The struggling department store chain is getting smaller as it continues to deal with declining sales.
Kohl's said Thursday it will close 27 underperforming stores by April 2025.
Why it matters: The department store chain is hoping to avoid the fate of some of its rivals, such as Sears and JCPenney, both of which ended up in bankruptcy, Axios' Nathan Bomey reported last year.
The attitudes of financial advisers toward the crypto asset class are changing fast.
The big picture: More than half of FAs in a recent survey say the presidential election has made them more likely to invest in crypto. This time last year, in a survey from the same folks, hardly any advisers believed bitcoin ETFs would even be approved this year.
Private equity's medical adventure has taken another detour to the ER, with the Senate Budget Committee releasing a bipartisan report that slams the industry's stewardship of hospital chains.
Why it matters: This caps off a year in which federal politicians zeroed in on private equity ownership of health-care providers, including the Steward Health debacle, and pushes Congress one step closer to new regulations.
Constellation Energy confirmed a deal Friday to acquire power producer Calpine, a Houston operator of gas-fired power plants. The deal was announced with a value of $26.6 billion.
Why it matters This would force a major messaging shift for Constellation, a nuclear power giant that touts how most of its energy is "emissions free."
The drama surrounding the film "It Ends With Us" and its stars Justin Baldoni and Blake Lively was the comms topic du jour over the holiday break.
Lively filed a complaint last month with the California Civil Rights Department accusing Baldoni, who also directed the movie, and his PR team of orchestrating a smear campaign against her.
Baldoni has denied the allegations and has since filed a libel suit against the New York Times.
Private texts were disclosed. Hollywood publicists started suing each other. It got messy, fast.
Why it matters: The practice of "astroturfing" — defined as "disguising an orchestrated campaign as a spontaneous upwelling of public opinion" — is a tactic corporate communicators should prepare for.
Here's what's new on Netflix, Peacock, Prime Video, Disney+ and Max.
What we're watching: A drama about the American West, a new season of "The Traitors" and a documentary about one of America's most controversial talk shows.
Why it matters: Trump — always in campaign mode — and some of his GOP allies are seizing on the wildfires to try to score political points against a Democratic governor who's widely seen as a potential 2028 contender for the White House.
