sears merged with kmart a decade ago. but it didn't resurrect the business. >> i think in the end, it's about relevance, and there's so many other places people can shop, for so many other things that sears and kmart carry, that this has just been the literal dripping away of what were iconic properties. >> reporter: on the chopping block now, stores in santa rosa and >> online amazon, killer of all brick and mortar stores, you know, just like what's that store, the kid's store that just went down. >> toys r us. >> now sears. i had no idea until today. >> how does sears seem? >> a lot of things are on sale and 40% off and it's starting to become a little empty, too. >> reporter: sears says their auto center also remain open and sears home services is operating as usual. sears says they are currently honoring warrantees. online experts say now is the time to shop for discounts and use up any gift cards. i'm leslie brinkley, "abc7 news." >>> for a complete list of sears and kmart store closures, go to abc7news.com. >>> a wo

sears merged with kmart a decade ago. many other places people can shop, for so many other things that sears and kmart carry, that this has just been the literal dripping away of what were iconic properties. >> reporter: on the chopping block now, stores in santa rosa and >> online amazon, killer of all brick and mortar stores, you know, just like what's that store, the kid's store that just went down. >> toys r us. >> now sears. i had no idea until today. >> how does sears seem? >> a lot of things are on sale and 40% off and it's starting to become a little empty, too. >> reporter: sears says their auto center also remain open and sears home services is operating as usual. sears says they are currently honoring warrantees. online experts say now is the time to shop for discounts and use up any gift cards. i'm leslie brinkley, "abc7 news." >>> for a complete list of sears and kmart store closures, go to abc7news.com. >>> a woman is out of a job tonight after a video posted online showed her blocking a black man from going

that is the merger between kmart and sears roebuck. was never a strategy that would have been viable the way lampert chose to run the business from day one. this is an outcome that just had to happen and the notion there's been some turnaround or transformation in place is just plain bogus. >> jerry, when you look at the lessons from this, is it mostly about leverage or is it about overall missing online and mobile they didn't have the money, they didn't have the capital to invest isn't that what this comes down to >> i think it's broader than that you have to be good at something to win in business, have a place where you have a sustainable competitive value. you see that with a tjmaxx or dollar general or walmart. best buy is doing spectacularly well being good on the internet is table stakes everybody needs to be good on the internet that's the future of the world but, first, you have to have a distinctive position you're better than other people at something that really matters to the customer and that has not been true for a very

the company closed hundreds of sears and kmart stores. as part of the bankruptcy protection filing, the company expected to present a restructuring plan to the judge today. sears hopes this will keep moving through the holidays. more than a dozen sears location and five were kmart stores are still open in the bay area. >>> electric scooters will be back on san francisco streets. new video shows people up loading scoot network scooters overnight. one of two companies allowed to operate under a permit program. skip is also rolling out hundreds of scooters today. the judge declined lime's order. lime claims the permit process was unfair. >> a sheriff's deputy escaped serious injury after a high-speed chase came to a fiery end in bodega bay. this is early yesterday morning. the sheriff's cruiser and the home burst into flames. he hemmed to rescue three people in the home before fire swept through the building. >> during firefighting activities, a defensive attack was made to extinguish it stphrfp. >>> speeds reached 100 miles per hour on wind

here is nbc's jo ling kent. >> reporter: with sears and kmart preparing to close more stores and toys "r" us going out of business this year, the pressure is on parents to find new placesare competing for a slice of the $27 billion toy industry, now up for grabs. some setting aside more floor space in their stores and online this year. party city is opening up pop-up shops. this toy city, once a toys "r" us, will become a full-blown toy store after halloween. >> i'm a fan of pop-up shops like this because it's convenient. >> reporter: walmart unveiling what it calls america's best toy shop, products only available at their stores. the competition is fierce because this holiday season is expected to be the biggest one yet, driven by a strong economy and consumer confidence, hitting an 18-year high. jo ling kent, nbc news, los angeles. >>> up next, baby surprise. the early favorites on a name fit for a royal. >> announcer: "nbc nightly news" is brought to you by pacific life. protecting generations of families for 150 years. that's the power of pacific. 101. and more than 7 hours later.

. >>> sears holdings, the parent company of sears and kmart filed for chapter 11 bankruptcy this morning. it marks the collapse of the company that dominated the retail industry for much of the 20th century in this country. sears has reached a deal with its creditors to keep most of its remaining operations up and running for now, but it will close 142 money-losing stores by the end of the year with liquidation sales expected to begin soon, and that's on top of the 46 stores closing by next month. the sears and kmart stores still and roughly 70,000 employees. >>> facebook is testing an unsend feature its app. for those who decided maybe they shouldn't have sent it after all. screen shots from a user shows the ability to rescind a message, but with a time limit. in fact, like gmail's unaccepted, it has a 30-second window so you have to make up your mind pretty fast. it's not clear whether facebook will roll out this feature for everybody who makes a mistake in sending an off-color joke to their grandmother. guys? >> make sure you know who you're sending what to. >> sorry, nana. >> thanks,

the company still has about 700 sears and kmart stores.a small fraction of what it once had. and roughly 70,000 employees. >>> apple is donating 1,000 of its smart watches to a new study looking atating disorders. each participant in the study by the university of north carolina will get a watch to measureh. bn binge eats. at least 30 million people in the united states sufferro some type points, so it may be a>> a right, contessa. thank you. >>> just ahead, we'll take you to an old-fashioned mill where they've been making their own cider the same way for more than a century. moving? that's harder now because of psoriatic arthritis. but you're still moved by moments like this. don't let psoriatic arthritis take them away. taltz reduces joint pain and stiffness and helps stop the progression of joint damage. for people with moderate to severe psoriasis, 90% saw significant improvement. taltz even gives you a chance at completely clear skin. don't use if you're allergic to taltz. before starting, you should be checked for tuberculosis. taltz

track to zero from two thousand and eleven down down down when eddie lampert there it is all sears kmart merger he was worth three to four billion dollars. jeff bezos at the time was worth approximately a billion dollars and i think he made the comment that they couldn't possibly compete of course nowadays us is worth one hundred fifty two hundred sixty billion dollars and a lump or its net worth has dropped below a billion dollars. he was loud in the financial press as the new warren buffett and i remember that i made the comment at the time that this was not going to be the case because warren buffett's empire is based on berkshire hathaway an insurance company which is the nuts way to make a lot of money if. just stay honest which is almost impossible new insurance or banking industry ninety nine percent are dishonest but warren buffett has just managed to stick to the knitting over there berkshire hathaway just crank out lots of money and then he uses those that cash to buy huge stakes in companies like coca-cola and apple computer etc and that's how he built this up already lampard

hundred thirty four million debt payment due monday sears holdings the parent company of sears and kmart is among dozens of prominent retailers to be clear bankruptcy in the amazon era. think of sears as the amazon of the last century its mail order catalogs were a sensation introducing many americans to mass produced goods for the first time. eventually sears became the largest retailer in the country and one of its biggest employers sears helped transform america's shopping habits drawing customers in their cars to the fast network of shopping malls shooting up around the country in the one nine hundred seventy s. but over the years sears has had more products than customers as it was outfoxed by specialist retailers which beating pricing convenience and it made a number of strategic errors including the acquisition of the ailing kmart shame it's not me in the place where people have been buying lots of things for a long time in fact probably the decade when decade ago when it came out and c.s. merged i remember saying to have stuff to make a hole and it's really been that kind of grad

is on track to zero from two thousand and eleven down down down when eddie lampert did is all sears kmart merger he was worth three to four billion dollars. jeff bezos at the time was worth approximately a billion dollars and i think he made the comment that bezos couldn't possibly compete for us now bezos is worth one hundred fifty two hundred sixty billion dollars and a lump or its net worth has dropped below a billion dollars. he was loud and in the financial press as the new warren buffett and i remember that i made the comment at the time that this was not going to be the case because warren buffett's empire is based on berkshire hathaway an insurance company which is the nuts way to make a lot of money if you just stay honest which is almost impossible new insurance or banking industry ninety nine percent are dishonest but warren buffett is just managed to stick to the knitting over there berkshire hathaway just crank out lots of money and then he uses those that cash to buy huge stakes in companies like coca-cola and apple computer etc and that's how he built his empire any lamp or

well, the old kmart went bankrupt. it is now part of sears, and they are struggling.hat was the difference? people. sam walton. sam walton and all the people he had around him. tom, david glass, and now more recently doug mcmillon. the guy who runs it now, he is fabulous. people. it is always the people. david: when you go in and take a look at a deal, how do you assess the character of leadership? what defines for you a good one from a not so good one? ken: let me give you a specific example. i met jeff bezos out at the conference last year. i told him i would love to come out and spend some time with him. and he in turn said he would like to meet frank blake, who ran home depot. he is retired now. so frank and i agreed to fly out to seattle and have lunch with jeff. we had lunch in his boathouse. and let me tell you why this guy is a huge winner. two fabulous, incredible ingredients like ham and cheese, smart and humble. now we went out to learn from him. when i left, i felt my brain had been sucked out of my head. there is a leader. it is no accident that amazon is

. >> it turns out that little caesars location is inside a kmart.says the kmart employee was storing the frozen pizzas there because they were past their expiration date and were being thrown out. it says no frozen pizzas were ever served. >> so they say. >>> well, kanye west is reportedly headed to the white house just days after defending president trump on "saturday night live." >> "the new york times" reports west will have lunch with the president thursday after meeting with trump's son-in-law jared to discuss criminal justice reform and manufacturing jobs near chicago. >> back in 2009 tmz reported that trump wanted people to boycott kanye over the vma incident with taylor swift. well now that swift has endorsed a democrat, the president said he likes her music 25% less. >>> and a new study is telling parents what they already know, they have virtually no time to themselves. >> this survey found how much time do parents get to themselves a day, 32 minutes. that's it. some admitted to hiding from their kids to catch a break. about a quarter of r

week the once mighty iconic slice of americana is expected close some one hundred forty sears and kmart stores by the end. of twenty eighteen this is in addition to the forty five closures that have already been slated for november leaving fewer than five hundred stores still in operation heck sears sold everything including actual kits to build homes they had about four hundred fifty different home designs to choose from in their big catalog and news today is that sears stock was delisted from trading on nasdaq when a stock trades at less than a dollar per day for thirty days it triggers the delisting so how did sears wind up here how is the bankruptcy being viewed and while the major pain is to be sure felt by a series of employees the closure is also impact malls and shopping centers where the stores now stand and there's an international angle to hear talk more about it is conservative commentator steve malzberg steve thanks for being with us what is the impact of this country a company that started eight hundred ninety three but now seems to be going down and going down hard well y

price and convenience and it made a number of strategic errors including the acquisition of the ailing kmart chain it's not me in the place where people have been buying lots of things for a long time in fact probably the decade when that decade ago when it came out in c.s. merged i remember saying to start make a hole and it's really been that kind of gradual dripping away of a business. sears has been closing stores that are breakneck pace all year but it says it is looking for a buyer for the seven hundred that remain open. many observers now say that even a bankruptcy will fail to save the once trusted sears name and that the company is likely to follow a number of other recent us store chains into the retailers graveyard. for more i'm now joined by our financial correspondent at the new york stock exchange and it's good to see you yes well let's see the options for sears is there any chance for the company to somehow bounce back under chapter eleven for example. well brick and mortar is certainly a business that is not easy to be in but it is not entirely impossible to get out of this b

price and convenience and it made a number of strategic errors including the acquisition of the ailing kmart chain it's not really a place where people have been buying lots of things for a long time in fact probably the decade. and decade ago when it came out and c.s. merged i remember saying to have stone make a hole and it's really been that kind of gradual dripping away of a business. sears has been closing stores that are breakneck pace all year but it says it is looking for a buyer for the seven hundred that remain open. many observers now say that even a bankruptcy will fail to save the once trusted sears name and that the company is likely to follow a number of other recent u.s. store chains into the retailers graveyard. a new study says climate change might reduce the global crop of bali a key ingredient in b.-a. outlook for be a drink is a future of expensive. beer the world's most popular alcoholic drink it's associated with cultural traditions like here and october first in munich germany it's that association with good times that has some researchers will a possible barley short

the company also owns kmart. wall street journal says sears is discussing other options and still could avert an in court restructuring. i just had it pulled up here. it shows that the stock is down 17 cents. it may sound like a lot but it is only worth 42 cents a share. matt keller, abc 7 news >> now your morning money report. you could be in for a cut of billions of dollars in unclaimed property. the state has received $770 million of money that belongs to california residents. if you add it to up claimed money from previous years, the state is sitting on $9.3 billion that they would love to give were. away. it comes from forgotten bank accounts, stocks, items, and safe deposit boxes. we have a link so you can find out if any of it is yours. go to abc7news.com. >>> starbucks will now help employees with child care. they are stepping up with care.com for backup babysitting when their regular sitter suspect availab suspect available. it will cost full-time employees a dollar an hour. >> police looking for thieves

david: they announced plans to close another 200 plants in kmart insulations.fell behind big box rivals like walmart, home depot and amazon. is this new evidence of a retail i.c.e. age? we have a producer here whose first house was a sears prefab house. they had everything. >> i grew up wishing for christmas on a sears roebuck catalog. you did have more retail stores close in the 2008 financial crisis. they didn't evolve. >> there was one word and john is at the crux of it. hubris. you had eddie lambert come in who was a hedge fund manager. i know retail like the back of my hand. when i worked for ibm i consulted with retailers. retailing is a very difficult business. to think you can come in, eddie lambert no retail background and financially move things around. they needed to get a smart, expert retailer that knew the company and knew the merchandise, and they didn't. they bought kmart. they could have been as successful as a tj maxx or a walmart and target. but they dropped the ball. it wasn't because retail was dying, it's because of the huh brings of eddie

years and years of losses under massive debt as more and more people shop online, sears who owns kmartslans to close 132 more, billionaire who bought the company 2014 says turnaround efforts have fallen short. let's take a look at shares of sears obviously lower, 34 cents, if you think that's a lot well, this paints story, they are down 88% this year. cheryl: we will be talking more with our guest coming up. to this story, president trump issuing a stern warning to saudi arabia, the president says the u.s. will be very upset and angry if it turns tout missing saudi arabia jamal khashoggi was murdered. disappeared after visiting consulate in istanbul more than a week ago, here was the president last night on 60 minutes. >> this man was a reporter, there's something really terrible and disgusting about this if that were the case, we will have to see. we will get to the bottom of it and they'll be severe punishment. lauren: saudis have promise today retaliate if there's any kind of punishment, white house chief economic adviser larry kudlow says the president will not back down. >> take hi

sears, which also owns kmart, was once america's biggest retailer, but has struggled to compete with a debt load of more than $5 billion. and now, what's trending in the business news this morning? the wall street selloff is the big story. business insider has an eyewatering figure. the 5 hottest tech stocks saw a staggering $172 billion of market value go up in smoke on wednesday. bloomberg counts the personal cost to the world's 500 richest people, who lost a combined $99 billion in the market rout. amazon bossjeff bezos's net worth went down by $9 billion. and cnbc says there could be more pain to come later. dow futures point to more than 100—point drop on thursday and don't forget, let us know what you are spotting online, use the hashtag #bbcthebriefing. the struggle by people to access nhs services across england is a growing ‘care injustice' which needs to be tackled now, that's the warning by the health regulator, the care quality commission. in their annual ‘state of care' report they say that although most still receive good care, for some, it's limited to providers with p

the company has already closed hundreds of sears and kmart stores. there are about a dozen sears locations and five kmart stores in the bay area. according to a list obtained by cnn, sears will close doors in pleasanton and santa rosa in two weeks. >>> the cost of your beer is going up and you can blame it on climate change. extreme heat waves and drought will likely result in cuts to barley production. the researchers say when that happens, beer prices could double and perhaps even triple. previous studies have detailed how chocolate, coffee and wine will be made more scarce and expensive because of global warming. >>> big news from the duke and duchess of sussex. >> in case you haven't heard, kate and harry are expecting. up next, how they told the rest of the royal family they're having a baby. >>> perhaps you heard about that san bernardino sheriff's deputy who used a bag of doritos to lure a pig ho.nolavor was pop pn jalapeno. they took the pig home and secured the gate from which it escaped. >>> special announcement from kensington palace. >> f

the vendors were furious about the kmart and pepsi and let me give you a quick comparable.st women across canada from the olympics to their hockey team and they had seen sears canada go from british columbia to the maritimes and they win because they are faster, better, smarter. lampert is the comparable loses because he is slower commercially dumber and just doesn't have the work ethic and the comparable is women are the fastest on 72 blades that the coaches do and lambert is the equivalent of playing i.c.e. hockey in snowshoes or amateur cross-country skis. he doesn't understand the detailed retail. he's not a headquarters and doesn't work it and the people with the great work ethic like canadian men and women and same north america and retailers, to the president's point, to compete with sears are dancing on tables because all of a sudden great sites and you got close to 14 billion in retail coming up we see it as a street liquidation because lampert is a bush league private equity on wall street and not understanding mainstream just like pershing square. neil: what happ

it's true, but this iconic retailer, it's doppelganger kmart may shut down as early as monday i mean, like close that's more than 80,000 employees. not only do they do financing, they own malls jcpenney may need to restructure. i don't expect this liquidation for pennys, but we consider all these industries have been slowing. i've covered a lot of them when my arguments are anything but anecdotal and they're empirical, you see patterns. the fed is thinking about how things how they are rightnow and how they were last month i'm more concerned about where they're going to be. and it's not a positive direction. if the fed cares about the tatttat data, i'm happy to share it with them let's see how things play out. is that so unreasonable? unfortunately, the fed is using a snapshot to gauge the strength of the economy rather than doing homework that reminds me, i'll be opining about this tonight in our special on the selloff t stay tuned after "mad money. and i know there will be some lags and cynics out there who say that will mark the bottom. if you feel that way, ome, watch. i've got so

sears merged with kmart a decade ago. now, stores in santa rosa and >> online amazon, killer of all brick and mortar stores, you know, just like what's that store, the kid's store that just went down. >> toys r

the company closed hundreds of sears and kmart stores.tries to deal with its massive debts and losses. as part of the bankruptcy protection filing, the company expected to present a restructuring plan to the judge today. once america's largest retailer, sears hopes this will keep moving through the holidays. more than a dozen sears location and five were kmart stores are still open in the bay area. >>> happening now, electric scooters are back on san francisco streets. new video shows people unloading scoot network scooters overnight. one of two companies allowed to operate under a permit program. skip is also rolling out hundreds of scooters today. the judge declined lime's order. lime claims the permit process was unfair. >> a sheriff's deputy escaped serious injury after a high-speed chase came to a fiery end in bodega bay. and look at this drama sick sight. the deputy crashed his patrol car into a home along highway 1 early yesterday morning. the sheriff's cruiser and the home burst into flames. believe it or not, the deputy was able

. >>> and sears announcing it will close an additional 142 sears and kmart stores across the u.s. now employing 68,000 people, they do hope to reorganize. >>> and a headline from idaho, a state fish and game commissioner has submitted his resignation after a firestorm involving his photos. a trophy photo of an entire family of baboons that many say crossed the line. here's paula faris. >> reporter: this photo from an african trophy hunt has sparked outrage across the country, even within the hunting community. blake fisher, the idaho fish and e-mail with these photos to his family and colleagues. a slain giraffe, a leopard and this entire family of baboons propped up in poses, including a baby in the front. fisher bragging, "i shot a whole family of baboons." tonight, tonight, fisher resigned, after groups demanding he resign pointing out idaho's hunting manual says to refrain from taking graphic photographs of the kill. >> to round them up in a big group hug with a big smile on his face with a little baby leaning back with his mom. i'm sorry, that's just over the top. >> reporter

as of today's bankruptcy filing, the company separates 687 sears and kmart stores and employs 68,000where it had 1,000 stores and 89,000 employees. and some good news for those of you collecting social security benefits. your check is going to get a 2.8% boost in 2019. for those collecting an average social security benefit of about $1400, the bump is going to amount to an extra $39 a month. this upcoming increase in benefits is the biggest jump since 2012 when the adjustment was 3.6%. every year the social security administration assesses whether there should be an adjustment to benefits to keep up with inflation. the current inflation rate in the united states is 2.3%. all right. that wraps this hour up for me. i'm going to see you right back here tonight, 10:00 p.m. for the last word. tomorrow at 1:00 p.m. and then again at 3:00 p.m. eastern. thank you for watching. "deadline white house" with nicolle wallace starts right now. >>> hi, everyone. it's 4:00 in new york. the 400-pound hacker who donald trump once blamed for meddling in the 2016 election is going to have to make room f

what he originally got control of kmart for it's hard to retrace what his profit and loss is. >> it isgood gnarl the "times" today as well that tries to sort of sort through those numbers. it's really hard he didn't really address that. >> i took from your column he also had trouble hiring the right talent. >> he did. some of that was just not getting the right people and then he had somebody who had an illness in the family that quit after two years. i think that was a deeper problem, though. again, you have this -- the controlling shareholder, him, as the chairman, a retailer wasn't the right answer but a non-traditional retailer didn't understand the basic to keeping the trains running. >> he made the mistake of buying back a lot of stock at higher levels over $3 billion for a company that tin debtedness which is what sunk it. >> and when his vision didn't pan out he turned to every financial engineering trick in the book and i don't think those ever really do anything to prolong the life of a company. >> what is he going to do now? he's chairman and he says they'll reorganize but i

. >>> sears holdings, the parent company of sears and kmart, has officially filed for bankruptcy. the company hasn't turned a profit since 2010. by declaring bankruptcy, sears reached a deal with its creditors to keep most of its operations running for now, but it will close 142 money losing stores by the end of the year. in addition to nearly 50 stores closed by next month. among those closing are land's end stores. sears has slashed its workforce from 90,000 to about 68,000 empls. >>> when you're sick you want the right treatment and you want it fast. that's hard to get when you have infections that resist certain antibiotics. researchers say they've developed a new test that could change that. it helps identify super bugs within minutes, and that meanso there on the spot. they say the antibiotic resistant bacterias kill about 700,000 people worldwide each year. >>> they got married five months ago. now a royal baby is on the way. >> isn't that something? prince harry and meghan markle are expecting a newborn in the springtime. the news broke as the couple arrived in australia f

the company has about 700 sears and kmart stores remaining and roughly 70,000 employees. >>> facebook is testing an unsend feature for its messenger app. tech crunch says screen shots from a user show the ability to rescind the message, but you got to think fast. there is a time limit. gmail's undue feature has a 30-second win dough. you have to think fast on your feet. it's not clear whether facebook will roll out the feature to everyone. since we've all sent messages you shouldn't have, maybe it's a good idea. >> contessa i've forgiven you a long time. water under the bridge, it's fine. >> thanks, contessa. >>> halloween shopper this is year are finding a lot of treats in the economy, and they're letting it be known at the cash register. the national retail federation survey of nearly 7,000 consumers found all willing to spend on average $87 per person or pet on halloween. >> because people like to dress up, not just their kids, but adults are really liking to dress up, millenials really embrace this holiday. >> and i notice more and more people are decorating their homes as well. l

. >> reporter: the strike team was supposed to muster at a command post on the kmart parking lot. but this is what they found when they got there. >> it was a 100,000 square foot building. >> reporter: the strike team was then ordered to move to the coffey park subdivision. they were confused when they began passing what looked like open fields. >> you can see the tiny flames burning. we didn't realize that was a neighborhood. we were looking at the entire subdivision which had basically been vaporized. we kept driving, seemed like block after block, seemed like mile after mile to try to find some houses that weren't burned yet that we could start putting water on to save. >> reporter: eventually they found a place to make a stand and the firefighters were able to stop the fire in their area. mike figures his crews saved about 30 homes from burning. but it's the video of coffey park burning down that will no doubt be the legacy of engine 6's efforts that awful night. >> when you see that devastation, and this video was taken moments after those houses vanished, i think really then

. >>> and a longtime kmart employee gets choked up delivering his final farewell. >> i worked for kmartding back tear the while thank shoppers at a now-closed pennsylvania kmart. that store just one of 64 locations kmart's parent company plan to close back in january. those are your headlines. ed: what a wonderful, emotional moment. what will happen if republicans win everything again? a new york times op-ed writer is worried, and michael knowles says he knows why. pete: and nothing says fall fun like power tools and pumpkins. [laughter] we'll show you how to take your pumpkin carving skills to the next level. ed: that's a little dangerous. emily: that doesn't look safe or clean. pete: i cut my finger. >> whoo! ♪ ♪ ♪ ♪ ♪ ♪ ♪ comfort. what we deliver by delivering. this is frank. sup! this is frank's favorite record. this is frank's dog. and this is frank's record shop. frank knowns northern soul, but how to set up a limited liability company... what's that mean? not so much. so he turned to his friends at legalzoom. yup! they hooked me up. we helped with his llc, contracts, and some oth

sears and kmart plan to stay in business from the help of more than $600 million in new loans. merger in the defense industry. the new company will have a market value of more than $33 billion. they are known for communications and electronics. they get more than two thirds of their revenue from the u.s. government. japan's softbank resumed its slump following another 7% in tokyo.about $20 billion has been wiped off the market value since shares hit their peak earlier this year. part of that is glued to the global technology selloff plus, saudi arabia is under pressure from the disappearance of a saudi journalist. that is your bloomberg business flash. francine: thank you so much. time as a central bank is a preparing for a worst-case scenario on the economy according to the pboc governor. he told bloomberg he is considering a range of risks toward the yuan, but added that the currency is at a reasonable and equilibrium level. he also said the trade war war with america is a lose lose situation. it seems there are quite a lot of risk events. we were just talking about saudi ara

expense of running the business of distantly you see in two thousand and five lampard merged sears with kmart loaded both up with day and used some of the debt on stock buybacks to pump up the share price and enrich shareholders notably himself and his age one. leverage hedge fund also became a prime lender to see yours making money off of commissions and interest charges as well as being a prime shareholder. the strategy ensures that the fall and its beneficiaries including lebron himself get rich even if they run seers into the ground. the mirror scene the producers where the premise is it's more profitable to create a flop than a hit that's what's going on here this sears bankruptcy has become springtime for hitler if vulture capitalist eddie lampert was hitler and springtime was it overly aggressive make up counter situation ok maybe that analogy isn't perfect but i understand lampard has maliciously financially engineered the company to the poorly where bankruptcy most likely doesn't mean a chance at restructuring it means liquidation with him and his hedge fund first in line to snatch u

but a firm which also owns kmart has been losing money for years.on on its debt. the chapter 11 filing is expected ahead of that deadline. it is possible the company could try and fight its way back after that, but it would likely be an uphill struggle. and so it looks like the writing is on the wall for what was once an american retail giant. police in nepal have broken a major smuggling ring trading in baby chimpanzees, stolen from their mothers in the wild in nigeria then flown thousands of miles to kathmandu. stealing a baby chimp usually involves the poachers killing most adults in its family. police say they were responding to a bbc news report which revealed the extent of the illegal trade. a global conference opens in london tomorrow aimed at tackling the problem. our science editor david shukman reports from kathmandu. a baby chimpanzee clings to the hand of a keeper. at this age, it should be with its mother, but the tiny animal is a victim of wildlife traffickers. seized in west africa, two chimps were being smuggled halfway around the wo

it plans to cut thousands of jobs and close 142 sears and kmart stores.will leave fewer than 600 down from 4,000 at its peak in 2012. as sears gets smaller, britain's royal family is getting bigger. prince harry and his wife meghan markle are expecting their first child in the spring. the announcement today came as they began a visit to australia and five months after their wds. the child would be seventh in line to the british throne. up next here tonight onsored by prudential. highest life expectancies ace with one of the in the country. you see so many people walking around here in their hundreds. so how do you stay financially well for all those extra years? well, you have to start planning as early as possible. we all need to plan, for 18 years or more, of retirement. i don't have a whole lot saved up, but i'm working on it now. i will do whatever i need to do. plan your financial life with prudential. bring your challenges. the roasted core wrap. 3, 2, 1... not cool. freezing away fat cells with coolsculpting? now that's cool! coolsculpting safely f

on track to zero from two thousand and eleven down down down oh and lampard there it is all sears kmart merger he was worth three to four billion dollars. jeff bezos at the time was worth approximately a billion dollars and.

computer etc and that's how he built this up or any lamp or try to base is empire on a junk retailer and kmart retailer so fright from the get go i predicted this was would fail and i was correct more than that sears did have a huge brand name i remember getting the sears catalog growing up and this was so exciting and i would spend hours as a child going through the sears catalog and it was so magical and well this place that all these washing machines and beds and clothes and shoes and toys and you got to look through it sears itself also was founded in like one thousand before one thousand nine hundred and it had some meaning real estate assets and that eddie lampert was after he had sold those off and you'll find out basically to himself another entity he owned so he don't wait for him he you know on paper he might have gone down to a billion dollars in net worth but he has these assets which i'm sure will become worth more soon over the last several years we have worked hard. to transform our business and unlock the value of our assets hedge fund owner and sears holdings c.e.o. eddie lamp

but the firm, which also owns kmart, has been losing money for years.il monday to pay $134 million on its debt. the chapter 11 filing is expected ahead of that deadline. it is possible the company could try and fight its way back after that, but it would likely be an uphill struggle, and so it looks like the writing is on the wall for what was once an american retail giant. the cuban president, miguel diaz—canel, has sent his first message on twitter. in it he celebrated the 150th anniversary of the start of cuba's fight for independence from spain. he tweeted, "we are in la demajagua", the place with the greatest amount of patriotic feeling — a reference to where the revolution began. a reminder of our top story: hurricane michael, the most powerful storm in decades to hit the south—east of the us has made landfall in florida, packing wind speeds of up to 200 km/h. so far one death has been reported, at a home in gadsen county. more on all the news any time on the bbc website. hello. wednesday brought some unseasonably warm if somewhat breezy weather t

sears holdings, which also owns kmart, filed for chapter 11 bankruptcy protection on monday.ine competition from firms such as amazon and has been closing stores and selling properties as it grapples with debts of more than £45 billion. the firm employs nearly 90,000 people in the us, although that is down from 246,000 five years ago, and in its heyday it had more than 3,000 stores. it became america's largest retailer before being overtaken by walmart in the 1980s. superdry shares have fallen more than 20% after the retailer warned of a £10 million hit to profits because the recent heatwave hurt sales of winter clothes. the company also said it faced £8 million in additional foreign exchange costs. superdry shares down 20% after the firm warned that profits for its current financial year will be £10m less than it originally expected. warm weather in september and the first half of october has "significa ntly affected" demand for its autumn and winter products, it said. it also expects low to mid—single digit sales growth this year. as we've been hearing, hundreds of royal ma