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Retailer Kohl's said to have received takeover offer from consortium backed by activist hedge fund

Retailer Kohl’s said to have received takeover offer from consortium backed by activist hedge fund

A consortium backed by activist hedge fund Starboard Value LP has offered roughly $9 billion to buy department store Kohl’s Corp.  KSS, -2.60%, according to people familiar with the matter. A group led by Acacia Research Corp. ACTG, -0.69%, which Starboard controls, offered to buy the department-store chain for $64 a share in cash Friday, the people …

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14 million Americans stopped working because they had COVID-19 or they were caring for someone with the virus

14 million Americans stopped working because they had COVID-19 or they were caring for someone with the virus

How big a toll has omicron had on the economy? Economists have been scratching their heads for weeks to estimate the damage the highly contagious COVID-19 variant is causing. The U.S. Census Bureau has some early answers. The U.S. Centers for Disease Control and Prevention reported that omicron was the most dominant COVID-19 strain in …

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U.S. jobless claims jump to highest level since mid-November

U.S. jobless claims jump to highest level since mid-November

The numbers: Initial jobless claims rose by 23,000 to 230,000 in the week ended Jan. 8, the U.S. Labor Department said Thursday.  It’s the highest level since mid-November. Economists polled by The Wall Street Journal had estimated new claims would slip to 200,000. Key details: The number of people already collecting jobless benefits plunged by 194,000 …

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Bed Bath & Beyond earnings will feel the pressure of heavy discounting and light traffic, analysts say

Bed Bath & Beyond earnings will feel the pressure of heavy discounting and light traffic, analysts say

With fiscal third-quarter earnings scheduled for Thursday, analysts say Bed Bath & Beyond Inc. could get squeezed by promotions and traffic pressure. “We have seen a very meaningful ramp in Bed Bath & Beyond’s promotions through F3Q and December, including a free Beyond+ Membership program (previously $29 fee), giving customers free shipping and 20% off …

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Airlines surge and stay-at-home stocks slump in European action

Airlines surge and stay-at-home stocks slump in European action

The reopening trade was the theme of European stock market trading on Tuesday, as airlines surged and stay-at-home stocks suffered. Wizz Air WIZZ, +12.54% led an airline rally, surging as the Central European-focused airline nearly quadrupled passenger traffic in December compared to year-ago levels. Analysts at Citi, however, downgraded Wizz to sell from buy, warning …

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The Great Resignation has led to a wave of self-startups, especially in the Southeast

The Great Resignation has led to a wave of self-startups, especially in the Southeast

The Great Resignation not only has liberated workers from their employers but it has led to a boom in small businesses across the nation, especially in the Southeast. Those are among the conclusions of a survey by software-as-a-service platform Zapier. New business creation is more than 50% higher than it was pre-pandemic, it found, as …

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These are the best-performing S&P 500 and Nasdaq-100 stocks of 2021

These are the best-performing S&P 500 and Nasdaq-100 stocks of 2021

(Updated as of the market close on Dec. 31.) The performance of the stock market in 2021 was nothing short of remarkable, surprising many investors after the dramatic crash-and-recovery cycle of 2020. A continuing recovery for the world economy meant increased demand and shortages in various industries, including semiconductors and energy. Some of the best-performing …

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'Each society creates its own pathology': Mayo Clinic vaccine specialist says don't blame the CDC for cutting COVID-19 isolation times

‘Each society creates its own pathology’: Mayo Clinic vaccine specialist says don’t blame the CDC for cutting COVID-19 isolation times

It’s easy to point the finger. This week, U.S. health officials reduced isolation times for Americans who test positive for COVID-19 but have no symptoms from 10 to five days, and also cut the time that close contacts need to self-quarantine. After those five days, Americans should still wear a mask around others for another …

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