Business

CNBC reports: Gap Inc. said Thursday it will split into two independent publicly traded companies — one comprised of its Old Navy brand, and the second a yet-to-be-named company that includes its other brands like Banana Republic and Athleta. Its shares surged more than 20 percent in after-hours trading on the news. Following a review by Gap’s board of directors, …

Next Gov reports: Google failed to mention that there’s a microphone inside its Nest Secure home device product and three Senate Republicans say Americans need to know more. Nest owners were caught by surprise earlier this month, when the company announced on its Twitter that users could activate a microphone within the Nest that would enable new features. Though the …

Reuters reports: Marijuana producer Canopy Growth has roped in lifestyle guru Martha Stewart as an adviser to help develop and launch a line of pot-based products for both humans and animals, it said on Thursday. Stewart, a 90s icon who became a household name through her cooking and lifestyle shows, co-hosts a show with rapper Snoop Dogg, who made headlines …

CBS News reports: More than 86 tons of frozen Boston Market dinners are being recalled from retailers across the U.S., as well as from a Defense Department facility, after consumers reported that some items contained pieces of glass or plastic. Produced by Bellisio Foods in Jackson, Ohio, between Dec. 7, 2018, to Feb. 15, 2019, the boneless pork rib patties …

CNN reports: An appeals court has rejected the Justice Department’s bid to overturn a ruling that cleared the way for AT&T’s acquisition of Time Warner. At a hearing in December, D.C. Circuit Court of Appeals judges Judith W. Rogers, Robert L. Wilkins and David B. Sentelle grilled the Justice Department’s attorneys about their contention that the original decision by Judge …

CNBC reports: Boeing announced Tuesday the nomination of former U.S. Ambassador to the United Nations Nikki Haley for election to the company’s board of directors. Haley served as ambassador to the U.N. under President Donald Trump from January 2017 until December, when she resigned. “It’s an honor to have the opportunity to contribute to Boeing’s continued success as a cutting …

Bloomberg reports: The U.S. Securities and Exchange Commission asked a judge to hold Elon Musk in contempt for violating his Oct. 16 settlement with the agency requiring him to seek pre-approval from Tesla Inc. for social media posts and other written communication that would be material to the company or investors, Bloomberg News reports. CNBC reports: The SEC’s enforcement action …

The Hill reports: Federally insured U.S. banks made more than $28 billion in additional profits in 2018 thanks to the Republican tax-cut law enacted at the start of the year, according to data released Thursday. The Federal Deposit Insurance Corporation (FDIC) revealed that the nation’s 5,406 federally insured banks reeled in $236.7 billion in profits last year, according to the …

The New York Times reports: Nestlé, Epic Games and other major brands said on Wednesday that they had stopped buying advertisements on YouTube after their ads appeared on children’s videos where pedophiles had infiltrated the comment sections. The companies acted after a YouTube user posted a video this week to point out this behavior. For the most part, the videos …

The Guardian reports: The German fashion designer Karl Lagerfeld has died at the age of 85, sources close to Chanel have said. Lagerfeld, the fashion house’s artistic director, missed its haute couture show in Paris in January, fuelling speculation about his health. He began his career as an assistant to Pierre Balmain in 1955 and joined Chanel in 1983, spending …

The New York Daily News reports: Their namesake is a Mr. Clean freak, but some Trump-branded eateries are just plain dirty. Mice in the kitchen, filthy food prep areas and broken sewage systems are on the list of recent stomach-turning health code violations at number of Trump-branded restaurants in the city, the Daily News has learned. Health inspections at Trump …

USA Today reports: Payless ShoeSource confirmed Saturday that it will close its 2,100 stores in the U.S. and Puerto Rico and start liquidation sales Sunday. The company is also shuttering its e-commerce operations. The closings mark the biggest by a single chain this year and nearly doubles the number of retail stores set to close in 2019. “We expect all …

CNBC reports: Amazon says it will not build a headquarters in New York following mounting opposition, the company said in a statement Thursday. Last week, The Washington Post first reported that Amazon executives were considering backing out of its planned move to New York City. New York Governor Andrew Cuomo had warned at a news conference last week following the …

CNBC reports: Levi Strauss filed the paperwork for an initial public offering Wednesday. The iconic denim company plans to list on the New York Stock Exchange with the ticker “LEVI.” According to its SEC filing, the San Francisco-based company plans to raise $100 million through the IPO, a placeholder amount used to calculate fees, but CNBC’s Leslie Picker previously reported …

Deadline Hollywood reports: Shares in MoviePass parent Helios & Matheson began trading over the counter today after the beleaguered company was delisted by the Nasdaq. The ouster from the major stock market comes after several warnings relayed in SEC filings in recent months, given that companies cannot have their shares trade below $1 for extended periods. Helios stock has been …

Bloomberg reports: The publisher of the National Enquirer, currently under attack by Amazon.com Inc. founder Jeff Bezos, has been facing steep financial losses that have left the once-loyal keeper of Donald Trump’s secrets with more than $1 billion in debt and a negative net worth. The closely held American Media Inc. — led by the president’s longtime friend, David Pecker …

ABC News reports: A family-owned Christian grocery store with several locations in Southeast Arkansas is dealing with backlash as customers argue a weekly ad mailer included a controversial political message. The ad book was sent to four Mac’s Cashsaver stores in Arkansas. According to the store, the mailer typically includes a religious or political message. The current mailer includes a …

CNBC reports: The Food and Drug Administration said Monday it sent warning letters to more than a dozen companies the agency said are “illegally selling” products that claim to prevent or cure Alzheimer’s disease. Many of these products, which are often sold on websites and social media platforms, “have not been reviewed by the FDA and are not proven safe …

The Guardian reports: Art photographer and activist Nan Goldin brought the Guggenheim Museum in New York to a standstill on Saturday night as thousands of fake prescriptions were dropped into the atrium to protest against the institution’s acceptance of donations from the family who owns the maker of OxyContin – the prescription painkiller at the root of America’s opioids crisis. …

Axios reports: Amazon is rethinking its plans to bring 25,000 jobs and a second headquarters to Long Island City in Queens after local activists and state lawmakers voiced staunch opposition to the company’s deal with New York, reports the Washington Post, citing two people familiar with Amazon’s thinking. The backdrop: While Amazon has had smooth processes in Virginia and Tennessee …