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David's Bridal may file for bankruptcy protection

Dan Primack, author of Pro Rata

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."

Go deeper

Axios
Updated 2 hours ago - World

Reports: Brazil leader to be accused of crimes against humanity over COVID

Brazilian President Jair Bolsonaro. Photo: Andressa Anholete/Bloomberg via Getty Images

A Brazilian Senate panel will recommend President Jair Bolsonaro be charged with "crimes against humanity," alleging his COVID-19 pandemic response led to hundreds of thousands of deaths, per the New York Times and the Washington Post.

The latest: The lawmakers initially said Bolsonaro should be charged with mass homicide and genocide, but lawmakers updated the report to replace these with the new charge, its lead author, Sen. Renan Calheiros, told the NYT.

Go deeper (1 min. read)Arrow
Rebecca Falconer
2 hours ago - Energy & Environment

California governor declares drought emergency for entire state

California Gov. Gavin Newsom speakinng to reporters in Los Angeles in September. Photo: Allen J. Schaben/Los Angeles Times via Getty Images

California Gov. Gavin Newsom (D) extended a drought emergency declaration to cover the entire state on Tuesday.

Why it matters: "California is experiencing its worst drought since the late 1800s, as measured by both lack of precipitation and high temperatures," per a statement from the governor's office. This past August was the driest and hottest one on record, "and the water year that ended last month was the second driest on record," the statement added.

Go deeper (1 min. read)Arrow
Axios
Updated 5 hours ago - World

North Korea claims latest missile test new weapon launched from submarine

North Korean state media claims the country's military fired this missile on Tuesday. Photo: Korean Central News Agency

North Korean state media announced that a detected ballistic missile launch off its east coast on Tuesday was a newly developed weapon test-fired from a submarine.

Why it matters: Pyongyang's latest in a series of recent missile launches into the sea happened hours after U.S. officials emphasized their commitment to restart negotiations on North Korea's nuclear weapons program, which have stalled since talks broke down during the Trump administration, AP notes.

Go deeper (1 min. read)Arrow