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NEW YORK (AP) — The storied New York clothier Brooks Brothers is filing for bankruptcy protection.The company that says it’s put 40 U.S. presidents in its suits survived two world wars and navigated through casual Fridays and a loosening of dress standards even on Wall Street, but the coronavirus pandemic pushed the 200-year-old company into seek Chapter 11 protection Wednesday.A spokesperson for the retailer told CNBC that the company has been evaluating strategic options to position them for success, including a potential sale of the business.Another famed men’s clothier, Barneys of New York, sought bankruptcy protection last year, and it was followed by a slew of others toppled by the pandemic, including Neiman Marcus, J.Crew and J.C. Penney.More bankruptcies are anticipated in the retail sector which has been rattled by the spread of COVID-19. 867
NEW YORK (AP) — The satellite radio company SiriusXM has locked up its most valuable asset, Howard Stern, for five more years in a deal announced Tuesday. Terms were not disclosed. Stern was already making a reported million a year. He's invaluable to the company, which had 600,000 subscribers when Stern announced in 2004 that he was joining and now has nearly 35 million. "I had been in a toxic relationship with terrestrial radio. And no matter how well I treated the medium, no matter how successful I made them, they abused me," Stern said in a press release. "Going to SiriusXM liberated me. I felt like Tina Turner freeing myself from Ike," said Stern. "And despite the naysayers and the ridicule, we have persevered, and are thriving. I've been proven right about satellite radio over and over again. With this contract renewal, I can't wait to see what else I'll be right about.The deal also gives SiriusXM exclusive rights to Stern's audio and video library through 2032. In the press release, SiriusXM CEO Jim Meyer said the company "couldn't be happier" to continue working with the legendary shock-jock."Howard's home has been SiriusXM and it will remain that way, but we've expanded SiriusXM in recent years too, and we are excited about finding the right ways that select content from Howard can find audiences on additional platforms," Meyer said. "May I add, I consider Howard a close friend and look forward to listening to him for years to come."Stern, who's been working remotely due to the pandemic like millions of Americans, said Tuesday that now that he can work from home, 'I simply don't have an excuse to quit.' 1651
No criminal charges will be filed in relation to Prince's April 2016 death, Carver County attorney Mark Metz said in a news conference Thursday.Prince, who suffered from an opiate addiction, died of an accidental fentanyl overdose after taking counterfeit Vicodin pills that were laced with fentanyl, Metz said."Prince had no idea he was taking a counterfeit pill that could kill him," the attorney said. 412
NEW YORK (AP) — Move over Mark Zuckerberg. At 21, Kylie Jenner has been named the youngest-ever, self-made billionaire by Forbes magazine.Forbes estimated that Jenner's Kylie Cosmetics is worth at least 0 million, and she owns it all. She hits the billion-dollar mark when you add in cash she has already pulled from the profitable business, the magazine said.Facebook's Zuckerberg was 23 when he hit the big B mark.Jenner told Forbes the milestone is a "nice pat on the back."Detractors have wondered as the Jenner-Kardashian sibling climbed her way to a billionaire exactly what Forbes means by "self-made." Her family, after all, is rich and famous. Her mom, Kris Jenner, helped build her business.Forbes says as long as she didn't inherit a business or money, she's labeled self-made. 799
NEW YORK (AP) — Stocks fell sharply on Wall Street Thursday as high-flying technology companies took a tumble after months of spectacular gains. The benchmark S&P 500 lost 3.5%, its biggest loss since June, and the tech-heavy Nasdaq fell 5%. Both indexes set record highs a day earlier. Apple, the most valuable U.S. company, slumped 8%. Big Tech companies have made outsize gains this year as investors bet that they would continue posting huge profits, even with many coronavirus restrictions still in place, as people spend more time online with their devices. Some worry those tech companies will be hit hard in a souring US-China relationship and any future tariffs, according to CNN. Treasury yields fell as cautious investors shifted money into bonds. 770
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