A David's Bridal boutique in Los Angeles. Photo: Anne Cusack/Los Angeles Times via Getty Images
David's Bridal is prepping a bankruptcy filing as it works to restructure around $760 million of debt related to its 2012 takeover by private equity firm Clayton Dubilier & Rice, according to Bloomberg.
The bottom line: This would be the latest in a recent string of PE-backed retail bankruptcies, but Bloomberg says there are "no plans for major store closures or liquidations."
Photo: Robert Nickelsberg/Getty Images
The Supreme Court said Thursday that it will not block Rhode Island's move to ease its requirements for absentee voting during November's election.
Why it matters: The decision is a loss for Republicans, who had requested an emergency order as the state is expected to begin mailing out its ballots.
Illustration: Lazaro Gamio/Axios
Uber and Lyft are ratcheting up the fight with California’s state government over the classification of drivers with a move that would deprive Californians of their ride-hailing services (and halt driver income).
Driving the news: On Wednesday, both companies said that if a court doesn’t overturn or further pause a new ruling forcing them to reclassify California drivers as employees, they’ll suspend their services in the state until November’s election, when voters could potentially exempt them by passing a ballot measure.
Israel Prime Minister Netanyahu, Trump and UAE Crown Prince Mohammed bin Zayed. Photo: Artur Widak/NurPhoto; Samuel Corum; Odd Andersen/AFP via Getty Images
President Trump announced a "historic" deal Thursday which will see Israel and the UAE open full diplomatic relations and Israel suspend its annexation plans in the West Bank.
Why it matters: This is a major breakthrough for Israel, which lacks diplomatic recognition in many Middle Eastern countries but has been steadily improving relations in the Gulf, largely due to mutual antipathy toward Iran.