Gap shares plummet as retailer says tariffs could cost between $100 million and $150 million
New tariffs could impact Gap’s business by $100 million to $150 million, if they remain in effect, the company said Thursday when announcing fiscal first-quarter earnings.
Shares fell more than 15% in after-hours trading.
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Can Billionaires Save the Media Business?
On July 28, Apple heiress Laurene Powell Jobs bought a majority stake in The Atlantic.
It’s the latest media purchase by the billionaire class, a group that includes Amazon founder Jeff Bezos (the Washington Post), Boston Red Sox owner John Henry (the Boston Globe), billionaire Glen Taylor (the Minneapolis Star-Tribune) and casino magnate Sheldon Adelson (the Las Vegas Review-Journal).
Some have praised this growing trend, arguing that wealthy individuals are journalism’s last, best hope. And there are notable cases of rich philanthropists, like Pierre Omidyar and Gerry Lenfest, making significant donations toward public service journalism.
HarperColllins Publishers Buys AMACOM Books
HarperCollins Publishers announced it has acquired the trade book assets of AMACOM from the American Management Association International (AMA). HarperCollins will take over all front list and backlist publication, sales, distribution, and licensing of the more than 600 books in AMACOM's catalog. AMACOM, which primarily focuses on personal and professional growth and business leadership, will be a sub-imprint of the recently launched HarperCollins Leadership (HCL) imprint, which is run out of the company's Nashville, TN offices. Financial details of the acquisition were not disclosed. "Business, management and leadership are key growth areas for HarperCollins internationally," said Brian Murray, President and CEO of HarperCollins Publishers. "The purchase of AMACOM's trade publishing will allow us to broaden our catalog of books with potential in emerging markets, from Asia to South America. It is a natural fit for our expanding publishing programs." Click Read More below for additional information.