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Retail store J. Crew announced that it has emerged out of bankruptcy.In May, the apparel and accessories retailer company filed for bankruptcy amid the coronavirus pandemic.On Thursday, the company said it equitized more than .6 billion of debt with Anchorage Capital Group, L.L.C., which is not its majority owner, and it's now well-positioned for long-term growth.Jan Singer, Chief Executive Officer of J. Crew Group, said in the press release that its strategy focuses on three core pillars: delivering a focused selection of products, brand experience, and what it calls frictionless shopping."As a reinvigorated company, we are committed to serving the changing life and style of today's multifaceted consumer and to delivering long term, sustainable results," Singer said in the release.J.Crew Group operates 170 J.Crew retail stores, 142 Madewell stores, and 170 J.Crew Factory stores throughout the nation. 924

Rescuers are searching for crew members aboard two US Marine planes that collided mid-air off the coast of Japan in the early hours of Thursday morning, according to Japan's Ministry of Defense and the US Marine Corps.At least one Marine was killed in the crash and the body has been recovered, the Marine Corps said in a statement. A second Marine was rescued and is described to be in fair condition. Five other Marines remain missing.The KC-130 and F/A-18 collided at 1:42 a.m. local time, according to a Japanese Defense Ministry statement.According to a statement from the US Marine Corps, the crash happened during an aerial refueling that was part of a routine training. The primary mission of a KC-130 is airborne refueling.It is believed five crew were on board the KC-130 and two on the F/A-18 at the time of the crash, two US defense officials told CNN.First Lt. Josh Hayes, a public affairs officer with the 3rd Marines Expeditionary Forces based out of Okinawa, told CNN the rescued Marine was in "fair condition."The killed Marine was found by a Japanese military ship at 12:13 p.m. local time and was being transferred to a mainland medical facility, according to Japanese defense spokesperson Norio Harada.Japan has dispatched 10 aircraft and three ships from its Self Defense Force and Coast Guard to help with the search for five people still believed to be missing.The US 7th Fleet said in a statement that it was supporting ongoing search and rescue efforts with a Navy P-8A Maritime Patrol and Reconnaissance Aircraft flying out of Kadena Air Force Base.Rescue teams are battling bad weather which has passed through the area in the last 24 hours or so, bringing showers, storms and sustained winds of 30 to 40 mph."The weather is definitely going to play a factor," said Hayes. "It's a full team effort between us and the Japanese defense force. And we're hoping to get our Marines back."The crash happened approximately 200 miles (321 kilometers) off the coast of Iwakuni, Japan, a US Marine Corps official told CNN.The planes "had launched from Marine Corps Air Station Iwakuni and were conducting regularly scheduled training when the mishap occurred," according to a statement from the US Marine Corps.Wednesday's incident comes on the same day that the Marines released a report on a crash in July 2017, also involving a KC-130 variant that killed 15 Marines and one sailor.That KC-130T crash took place in Leflore County, Mississippi, and the "investigation determined that the aircraft's propeller did not receive proper depot-level maintenance during its last overhaul ... in September 2011, which missed corrosion that may have contributed to the propeller blade" coming loose during the flight and going into the aircraft's fuselage, according to a Marine Corps statement on the investigation.The-CNN-Wire 2845

Race favorite Justify, ridden by Mike Smith, won the 144th Kentucky Derby on a sloppy track at Louisville's Churchill Downs on Saturday.Justify is trained by Bob Baffert, who now has five Derby wins.Good Magic finished second, just ahead of Audible. The winning time was 2:04.20.Justify, the 5-2 favorite, became the first Derby winner in 136 years that did not race as a 2-year-old. The chestnut colt has won all four starts as a 3-year-old. 450

Republican senators' latest attempt to repeal Obamacare could be the most far-reaching of GOP efforts this year.Senators Lindsey Graham of South Carolina and Bill Cassidy of Louisiana last week released?a bill that would eliminate or overhaul major sections of the health reform law. The duo had been trying to garner interest in earlier versions of their bill for months, but hadn't gotten much traction.Now, however, Republicans likely have only two weeks left to use their 2017 budget reconciliation bill as a way to dismantle Obamacare with a simple majority in the Senate. The Graham-Cassidy bill is the only repeal effort left on the table, coming even as a bipartisan Senate committee is working on legislation to stabilize the Affordable Care Act.The Congressional Budget Office said Monday it may take several weeks for it to release an analysis of the Graham-Cassidy bill so it remains to be seen how many fewer people could be insured under it or what the impact on premiums may be.Here's what's in the bill:Repeal Obamacare individual and employer mandates: Obamacare levies penalties on most Americans who don't have health insurance and larger employers who don't provide affordable coverage for their workers. The bill would eliminate the penalty, retroactive to 2016.Repeals Obamacare subsidies and ends Medicaid expansion funding: The legislation would eliminate Obamacare subsidies that lower premiums, deductibles and co-pays in 2020. It would also jettison federal funding for Medicaid expansion, which 31 states use to provide coverage for residents with incomes up to about ,000.The legislation would turn the federal funding for Medicaid expansion and the subsidies into a block grant program. States would be given a lump sum of money and would have a lot of leeway over how to spend it.For instance, they could help enrollees pay their premiums and out-of-pocket costs or set up high-risk or reinsurance pools to help protect insurers from costly enrollees and entice them to stay in the individual market. States could use a portion of money to help those enrolled in Medicaid afford care.Graham and Cassidy say that this provision would return power to the states and allow them to create programs that fit their residents' needs. Also, it would equalize Medicaid funding across the states. The bill's authors note that four states get 37% of Obamacare funding.But Democrats and consumer advocates say that many states, particularly those that expanded Medicaid, would lose a lot of federal funding, making it harder for them to provide coverage or assistance to their residents. Also, they note, the block grant is only authorized through 2026, jeopardizing the continuation of funding after that.Loosens Obamacare's regulations regarding pre-existing conditions: The bill would also waive several key Obamacare protections for those with pre-existing conditions. While it would still require insurers to provide coverage to everyone, it would allow carriers to charge enrollees more based on their medical history. So younger, healthier folks could see their premiums go down, but sicker Americans could find themselves priced out of policies.The legislation also would eliminate Obamacare's essential health benefits provision, which mandates insurers cover an array of services, including hospitalization, maternity care, prescription drugs, mental health and substance abuse services. This could lower premiums somewhat and give consumers a wider choice of plans. But it would also make it harder for people to buy comprehensive policies so those with pre-existing conditions may not be able to find coverage that meets their health care needs.Revamps funding for Medicaid overall: The legislation would send the states a fixed amount of money per Medicaid enrollee, known as a per-capita cap, starting in 2020.States could also opt to receive federal Medicaid funding as a block grant for the non-disabled adults and children in their program. Under a block grant, states would get a fixed amount of federal funding each year, regardless of how many participants are in the program.States, however, cannot opt to receive block grant funding for elderly and disabled participants.Graham-Cassidy would also shrink the program even more over time by pegging the annual growth rate of funding for children and non-disabled adults to standard inflation after 2024, rather than the more generous medical inflation.Either per-capita caps or block grants would limit federal responsibility, shifting that burden to the states. However, since states don't have the money to make up the difference, they would likely either reduce eligibility, curtail benefits or cut provider payments. The block grant would be more restrictive since the funding level would not adjust for increases in enrollment, which often happens in bad economic times.Allows states to institute work requirements for Medicaid: States would now be able to require adult Medicaid recipients to work. The disabled, elderly and pregnant women would be exempt, however.Permits everyone in the individual market to buy catastrophic plans: Obamacare only allows those under age 30 to buy catastrophic policies, which usually have higher deductibles and fewer benefits. This legislation would allow anyone to buy these plans starting in 2019.Repeals a handful of taxes: The bill would repeal the tax on over-the-counter medicine, health savings accounts and medical devices, a levy unpopular on both sides of the aisle. But it keeps in place Obamacare's taxes on the wealthy, health insurers and others.Defunds Planned Parenthood: In keeping with longstanding Republican beliefs, the legislation prohibits federal funding for Planned Parenthood. But the restriction is only for a year, beginning when the bill is enacted.Increases maximum contributions to health savings accounts: Today, individuals can save up to ,400 and families can save up to ,750 a year tax-free in a health savings account. The bill would raise that limit to the annual out-of-pocket maximum for high-deductible plans. For 2018, that would be ,650 for individuals and ,300 for families. 6238

President Donald Trump urged his supporters Friday not to boycott two Senate runoff elections in Georgia in January that will determine which party has control of the chamber.His tweet comes after Politico reported Thursday that his continued attacks on Georgia's electoral system have disillusioned his voters and caused some to call for a boycott of the vote.In addition, Politico reports that some of Trump's most ardent supporters on Twitter and the conservative-learning social media platform Parler are accusing the two Republican candidates up for election — Sens. Kelly Loeffler and David Perdue — of being "insufficiently pro-Trump" and complicit in the voter fraud conspiracies.On Friday morning, Trump retweeted a Newsmax story about a potential boycott of the Georgia vote. In his tweet, Trump tried to walk the line between continuing to push fraud claims while still rallying the vote."No, the 2020 Election was a total scam, we won by a lot (and will hopefully turn over the fraudulent result), but we must get out and help David and Kelly, two GREAT people," he tweeted. "Otherwise we are playing right into the hands of some very sick people. I will be in Georgia on Saturday!" 1202