Michael Kors plans to shutter 100 to 125 stores; shares tumble 9%

Another retailer has decided to trim its brick-and-mortar fleet. Michael Kors announced plans Wednesday to close 100 to 125 full-price stores over the next two years. The company had 827 retail locations as of April 1. The closures are intended to improve...

London police are hiring new detectives … and there’s no experience necessary

Previously, someone would need experience as a regular police constable and then work their way up the ranks to become a detective. But a report into U.K. policing earlier this year warned it was in a “potentially perilous state” and that a shortage of...

2 tech stocks could reach $1 trillion, and Apple isn’t one of them, analyst says

Tech companies Amazon and Google’s Alphabet have the best chance of reaching a $1 trillion market cap, equity analyst Michael Graham told CNBC on Wednesday. The senior equity analyst at Canaccord Genuity spoke a day after Amazon briefly crossed $1,000 per share...

Mallinckrodt explores sale of generic drugs business, Reuters sources say

Mallinckrodt is exploring a sale of its generic drug unit, in a deal that could fetch as much as $2 billion and help pivot the specialty pharmaceutical maker toward higher-margin branded drugs, according to people familiar with the matter. The divestment would...

Cramer: GE ‘cash flow must be positive or Jeff Immelt is going to go’

General Electric is the worst industrial stock, and if CEO Jeff Immelt doesn’t perform soon, he’s out, CNBC’s Jim Cramer said Tuesday. Cramer’s comment came after Immelt said at the Electrical Products Group Conference last week that the...

US companies no longer know rules of game under Trump, Hasbro director says

Confusion surrounding the trade policies of U.S. President Donald Trump’s administration means U.S. companies no longer know the rules of the game, a board member and former CEO of toymaker Hasbro told an international conference on Monday. Alan G. Hassenfeld,...