Uber is planning to price its initial public offering at a maximum of $50 per share, partly due to a disappointing debut by competitor Lyft. In an amended regulatory filing with the Securities and Exchange Commission, Uber set the range of its offering of between $44 and $50 per share, below its previous range of between $48 and $55 per share.The new range would value Uber under $90 billion. The company also disclosed a $500 million investment from PayPal, which will purchase Uber stock in a private placement at a price equal to the IPO pricing. “Based on an assumed initial public offering price of $47.00 per share, which is the midpoint of the estimated offering price range set forth on the cover page of this prospectus, PayPal would purchase 10,638,298 shares,” Uber said in the filing.

Hyundai Motor Co has named Jose Munoz as global chief operating officer and Americas chief.Munoz was was considered an ally and potential successor of Nissan Motor Co Ltd’s ousted Chairman Carlos Ghosn. The appointment comes at time when plunging sales in both China and the United States, the world’s two-biggest auto markets, has prompted a major management overhaul.

The U.S. trade deficit fell to an eight-month low in February as exports to China surged, helping to eclipse a rebound in overall imports, which could boost economic growth estimates for the first quarter. Read more...

Third-party logistics (3PL) companies are attractive investments for private equity firms, enabling new companies in the space to grow faster than ever before. Read more...

More than a dozen retailers — including major department store chains, mattress sellers and shoe companies — filed for bankruptcy protection in 2018, despite strong consumer spending that otherwise lifted the U.S. economy.READ MORE...

Sears Holdings wants to pay executives as much as $19 million in quarterly bonuses, amidst the company’s struggle to stay in business in the wake of a bankruptcy possibility. The retailer has submitted two bonus plan for the court’s approval.The first one intends to pay as much as $2.1 million per quarter collectively for the top 18 executives.As part of the second plan, 322 other unnamed executives could get $16.9 million a quarter in aggregate - apparently as an incentive to stay with the firm during its tough times.

Sears Holdings Corp. has been allowed some time before a legal decision would be made on whether or not the retail company should continue to operate. During Thursday’s bankruptcy court hearing, Judge Robert Drain gave permission to Sears to auction off 500 stores.Judge Drain has, however, decided to wait until a December hearing to give the final verdict on whether Sears should be allowed to continue operations or if it should begin shuttering all of its stores. "We recognize we have a tough path ahead of us to save the company," said Sears attorney Ray Schrock, but also indicated that the company hopes to gain some tailwind from the upcoming holiday shopping.

Sears Holdings will be closing doors at 40 more locations. On Thursday, the retail company announced that by February 2019,  29 Sears stores and 11 Kmart shops will be shuttered.Closing stores (particularly the underperforming ones) is part of its liquidation sales, as the retailer apparently found it hard to improve dwindling margins.  The newly announced 40 store closures will begin next week, according to the company. Adding the latest closures, Sears will be left with less than 500 Sears and Kmart stores open – that’s around half of what it had as of February.

Sears has had troubles meeting its debt obligations for a while, even as CEO Eddie Lampert drove several asset liquidations. Hundreds of Sears and Kmart stores were shuttered down in recent years, amid plunging sales.Sears has apparently failed to catch up with the e-commerce boom spearheaded by Amazon coupled with traditional player Walmart’s expansion.

Sears Holdings announced that it will close six more Sears stores alongwith  five Kmart stores, mostly in November and December. In late August, it said that it will shutter more than 13 Kmart stores, following 2017’s closing down of 45.  This is happening as the company faces challenges with its debt repayment schedules.Sears Holdings CEO Eddie Lampert is trying to get creditors to allow a restructuring of roughly $1.1 billion of the company's debt coming due in the next two years.