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Financial News

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Business & Lifestyle

Crypto lender CRED files for bankruptcy

WILMINGTON, Del. -- A leading cryptocurrency lender is requesting bankruptcy protection as a result of some alleged shady dealings. Cryptocurrency lender CRED Inc. filed for Chapter 11 bankruptcy on Saturday before the United States Bankruptcy Court in Delaware. According to its filing, CRED lists estimated assets between $50 million and $100 million. Their current liabilities range from $100 million to $500 million, but the actual figure is not known. Last month, a cryptic email sent to users states some "irregularities" in […]

todayNovember 9, 2020 8

Business & Lifestyle

ESPN to lay off 300 workers, won’t fill 200 open jobs

BRISTOL, Conn. (UPI) -- ESPN announced Thursday it will lay off 300 employees and will not fill about 200 open positions, marking its largest number of job cuts in five years. The sports network, which is owned by Disney, employs about 6,000 people worldwide, 4,000 of whom are in Bristol, Conn. It laid off 300 employees during a round of cuts in 2015. "Today is hard because ESPN has always been -- and will always be -- fortified by its […]

todayNovember 5, 2020 1

Business & Lifestyle

GameStop closed on Thanksgiving, Black Friday deals offered early

GRAPEVINE, Tex. -- If you were planning to huddle outside of your nearest GameStop store, save yourself the trip this year. This is assuming your closest store hasn't already closed or gone out of business due to the company's ongoing restructuring plan. GameStop is following the lead of other major retailers by being closed on Thanksgiving Day. Walmart and Target made similar announcements earlier this year. Normally, the video game retail giant has been opening up to Black Friday shoppers […]

todayOctober 27, 2020 3

Business & Lifestyle

Report supports calls for national paid sick-leave policy, impacting Illinois

SPRINGFIELD -- New research suggests access to emergency paid leave could help limit the spread of the novel coronavirus. Supporters of a broader paid-time-off proposal say it's needed in states like Illinois, where there's no such requirement. The study says states with access to emergency paid leave during the crisis have seen 400 fewer COVID cases per day. It was led by Cornell University and the Swiss Economic Institute. Paid-leave group demands Senate vote on House relief bill Dawn Huckelbridge is […]

todayOctober 23, 2020 41

Business News

Pritzker issues serious threat yet to Illinois bars, restaurants that defy orders

SPRINGFIELD (The Center Square) – Gov. J.B. Pritzker announced Thursday even stricter rules for one region of the state and said state officials would be tracking down businesses throughout Illinois that don’t follow the added restrictions. The governor is tightening restrictions in Region 1 in northwest Illinois where the COVID-19 positivity rate stood at 11.2 percent on Thursday. Region 1, which has been under Tier 1 restrictions since Oct. 3, is the first region in the state to be moved […]

todayOctober 22, 2020 4

Business & Lifestyle

After nearly seven months, Quibi to cease operations

LOS ANGELES -- Quibi, a short-form entertainment content streaming service, announced Wednesday that they will be shutting down some seven months after its public launch. A Wall Street Journal report states that amid mounting problems, the service has opted to shut itself down. Thus ends a year full of high-flying expectations for the entertainment start-up that raised $1.75 billion in capital. Founders Jeffrey Katzenberg, a film producer, and former Hewlett Packard CEO Meg Whitman, issued a public statement that the […]

todayOctober 22, 2020 13

Business & Lifestyle

Starting a new business from scratch in New Mexico

New Mexico is quickly becoming a famous state for incorporating a business. Forbes mentions that the average job growth in 2018 was 1.9% within the state, partially due to more companies seeing it as an excellent place to set up. New business owners want to benefit from a readily available workforce. This, along with a friendly tax rate, can help both them and their company prosper. If you're going to put together a New Mexico company, this is how you […]

todayOctober 20, 2020 6

Business & Lifestyle

LRN could terminate satellite ops for Liberty-oriented programming

KEENE, N.H. -- Unless fundraising improves in the upcoming months, a New Hampshire-based Internet radio network may have to terminate satellite operations. A September 1 update from Liberty Radio Network (LRN.FM, also known as LRN) co-founder Ian Freeman states that the end of satellite operations could be a possibility. A tale of two satellite operations for LRN Freeman notes that in 2011, LRN.FM was sent out via satellite across North and Central America. Later, in 2012, a satellite feed would go […]

todaySeptember 13, 2020 3

Business & Lifestyle

GameStop reveals plans to close 450 stores

GRAVEVINE, Tex. -- GameStop reveals in a recent investor call that they will be closing more stores than in their initial plan. Company executives did reveal that they will close an additional 100 stores than in their current restructuring plan. Per the restructuring plan, the company had plans to close 300 underperforming stores permanently. However, this number is increasing since the investor brief in March. Store closures to continue through 2021 When asked regarding a timeframe for these additional store […]

todaySeptember 13, 2020 14

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