Canadian department store operator Hudson's Bay Co. has made a takeover approach to U.S. department store chain Macy's Inc., the Wall Street Journal reported, citing sources. Shares of Macy's, which had a market value of about $9.4 billion as of Thursday's close, were up 7.3 percent at $32.96. Shares of Hudson's Bay, which also owns the Saks Fifth Avenue store, were up 2.1 percent at C$10.26. The company had a market cap of C$1.82 billion ($1.40 billion) as of Thursday's close.
TOKYO -- Japan is putting together a package it says could generate 700,000 U.S. jobs and help create a $450-billion market, to present to U.S. President Donald Trump next week, government sources familiar with the plans said. The five-part package, to be unveiled when Prime Minister Shinzo Abe visits Trump on Feb. 10 in Washington, envisage investments in infrastructure projects such as high-speed trains and cybersecurity, said the sources, who declined to be identified as they were not authorized to speak to the media.
WASHINGTON—President Donald Trump is poised to impose new sanctions on multiple Iranian entities, seeking to ratchet up pressure on Tehran while crafting a broader strategy to counter what he sees as its destabilizing behavior, people familiar with the matter said on Thursday, Feb. 2.
Highlights of the day for President Donald Trump's administration on Thursday: AUSTRALIA
Punxsutawney Phil, the famous Pennsylvania groundhog that can supposedly forecast when the North American winter will end, dashed hopes for an early spring on Thursday morning when he emerged from his tree stump and saw his squirmy shadow. Each year on Groundhog Day, Feb. 2, thousands of revelers gather in the town of Punxsutawney, about 80 miles northeast of Pittsburgh, to witness a groundhog that has been designated as "Phil" make his prediction.
Amazon.com Inc forecast a bigger-than-expected fall in operating income for the current quarter as the company continues to spend heavily on new warehouses and video content. Shares of the company, which also reported lower-than- expected fourth-quarter revenue, fell 4 percent in extended trading on Thursday. Amazon forecast first-quarter operating income between $250 million and $900 million, below the consensus estimate of $1.34 billion, according to market research firm FactSet StreetAccount.
WASHINGTON -- Homeland Security Secretary John Kelly said on Thursday he hoped to have a wall along the southern U.S. border with Mexico finished within two years, according to an interview with Fox News. "The wall will be built where it's needed first, and then it will be filled in. That's the way I look at it," Kelly said in the interview. "I really hope to have it done within the next two years." He added he thought funding from Congress for the massive project would come "relatively quickly."
HIGHLIGHTS -- Highlights of the day for U.S. President Donald Trump's administration on Wednesday: SUPREME COURT NOMINEE Trump urges Senate Republicans to "go nuclear" and invoke a rule change to force a simple majority vote toward confirmation if Democrats block his U.S. Supreme Court nominee. ADMINISTRATION
WASHINGTON—The U.S. Senate confirmed Rex Tillerson as President Donald Trump's secretary of state on Wednesday, Feb. 1, filling a key spot on the Republican's national security team despite concerns about the former Exxon Mobil Corp chief executive officer's ties to Russia. In the vote, 56 senators backed Tillerson, and 43 voted no. The tally was largely along party lines, with every Republican favoring Tillerson, along with four members of the Democratic caucus, Sen. Heidi Heitkamp of North Dakota, Joe Manchin and Mark Warner as well as Angus King, an independent.
WASHINGTON—Republican U.S. senators on Wednesday, Feb. 1, delayed a committee vote on President Donald Trump's pick to head the Environmental Protection Agency, after the panel's Democrats boycotted the meeting, saying that nominee Scott Pruitt doubts the science of climate change.