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Business

JCPenney, Gap, and Victoria's Secret announce 300 major closures

Gap, JCPenney, and Victoria's Secret announced more than 300 major closures over the course of 24 hours this week, sending a clear signal that the fallout from the retail apocalypse is far from over. Gap said Thursday that it would close 230 namesake stores over the next two years as reported that the brand's same-store sales fell 7% during the …

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Huawei is not accused of stealing US trade secrets

Huawei is accused of 10 separate charges, including conspiracy to steal trade secrets, attempted theft of business secrets, wire cheating, and the prevention of justice. According to prosecutors, Huawei stole business secrets from T-Mobile. The charges are primarily due to a 2013 incident where Huawei engineers allegedly took pictures and measurements of one of T-Mobile's phone test robots called Tappy. …

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Victoria Secret to close 53 stores

Victoria's Secret is planning to close 53 stores this year as more women are losing the brand to lingerie and large retailers. Sales in stores open at least one year dropped 7% below Victoria's recent quarter, the parent company L Brands said Wednesday. The company's second flagship brand, Bath and Body Works, did well. Other retailers, including Walmart and Best …

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Bitcoin, Ethereum and XRP for Face-Off with Facebook: Crypto exchanges reported social media negotiations Giant to List Facebook Coin

Facebook is probably about negotiating with a number of cryptocurrency exchanges to get its new Facebook coin built and bring it directly to consumers, where it will head-to-head with e.g. Bitcoin, Etherum and XRP. Four people "briefed on the negotiations" told the New York Times that there is talk of negotiations and Facebook is seeking to release its new coin …

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Budweiser Brewer Pushes Alternative Drinks Like Bud Falls Flat

Anheuser-Busch InBev SA said that Budweiser and Bud Light volumes continued to decline in the fourth quarter, but that its efforts to drink newer lower-carbohydrate alcohols and lower-alcohol alcoholic beverages began to improve its overall performance in the United States [19659002] The world's largest brewer has struggled in recent years as American drinkers switch to beans, Mexican imports, wine and …

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Wall St. dips openly as summit in US-Korea ends early by Reuters

© Reuters. Traders working on NYSE's floor in New York (Reuters) – Wall Street headlines opened a bit lower on Thursday after a US-Nordkore summit ended abruptly without an agreement, but the losses were limited as data showed it US economy fell less than expected in the fourth quarter. It opened lower with 4.27 points, or 0.15 percent, of 2,788.11. …

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