Illustration: Sarah Grillo/Axios

Neiman Marcus is in talks with lenders about filing for Chapter 11 bankruptcy, per Bloomberg. The Dallas-based luxury retailer is struggling under the weight of $4.3 billion in debt, related to its 2013 takeover by Ares Management and Canada Pension Plan Investment Board.

Why it matters: Neiman Marcus is an anchor tenant to many shopping malls that were already struggling before the coronavirus pandemic.

The bottom line:

"Neiman Marcus temporarily closed its stores last week in response to the health crisis. It manages 43 namesake stores across the U.S., two Bergdorf Goodman stores in Manhattan, 24 Last Call locations and one Mytheresa in Germany. Like other retailers, Neiman Marcus is bracing for a slump tied to the closures. The company said it will continue to serve its customers through online channels, including a new selling and styling tool designed to help remote purchasing."
Gillian Tan & Katherine Doherty, Bloomberg

Go deeper: Retailers are guzzling data just like tech giants

Go deeper

Updated 28 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7 p.m. ET: 31,444,163 — Total deaths: 967,305— Total recoveries: 21,551,157Map.
  2. U.S.: Total confirmed cases as of 7 p.m. ET: 6,889,086 — Total deaths: 200,641 — Total recoveries: 2,615,974 — Total tests: 95,846,925Map.
  3. Health: The U.S. reaches 200,000 coronavirus deaths — The CDC's crumbling reputation — America turns against coronavirus vaccine.
  4. Politics: Elected officials are failing us on much-needed stimulus.
  5. Business: Two-thirds of business leaders think pandemic will lead to permanent changes — Fed chair warns economy will feel the weight of expired stimulus.
  6. Sports: NFL fines maskless coaches.

House Democrats, Trump administration strike deal to avert government shutdown

House Speaker Nancy Pelosi (D-Calif.). Photo: Tom Williams/CQ-Roll Call via Getty Images

House Democrats have reached a deal with the Trump administration on legislation to fund the government through Dec. 11, Speaker Nancy Pelosi (D-Calif.) announced Tuesday.

Why it matters: The deal will avert a government shutdown when funding expires in eight days. Pelosi and House Majority Leader Steny Hoyer (D-Md.) said earlier that they hoped to hold a vote on the legislation on Tuesday evening.

Updated 1 hour ago - Politics & Policy

Trump says he will announce Supreme Court pick on Saturday

Photo: Mandel Ngan/AFP via Getty Images

President Trump tweeted Tuesday that he plans to announce his Supreme Court pick on Saturday. He later told reporters that the announcement will come at 5 p.m.

Why it matters: Republicans are moving fast to replace the late Justice Ruth Bader Ginsburg, which would tilt the balance of the high court in conservatives' favor and have lasting impact on climate policy, immigration and the Affordable Care Act.

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