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Walmart sells menswear brand Bonobos at a steep loss

Published Fri, 21 Feb 2025 18:41:06 GMT

 (CNN) — Clothes sometimes sell for a steep discount at Bonobos. Thursday night, the company itself sold for a loss.Walmart has announced that it’s offloading the trendy menswear brand, selling it to management firm WHP Global and retailer Express Inc. for $75 million. That’s a steep loss for Walmart, which acquired the brand in 2017 for $310 million as part of a failed attempt to diversify its online presence under previous managementWHP Global is little-known company that owns some recognizable brands, including the Toys “R” Us, Anne Klein and Joe Jeans. Last year, WHP took a 60% stake in Express Inc. WHP is buying the Bonobos brand for $50 million, while Express Inc. will has acquired “operating assets and assume the related liabilities” for $25 million.“Bonobos is delivering double-digit sales growth and we plan to continue that momentum while also realizing operating synergies and other economies of s...

The fire at an Indiana plastics recycling plant is out. But residents’ health concerns linger as asbestos is found in debris

Published Fri, 21 Feb 2025 18:41:06 GMT

(CNN) — Up to 2,000 residents of an eastern Indiana city are still waiting to learn if it’s safe to go home now that an inferno that raged for two days is out at a plastics recycling plant that a state judge had deemed a public health hazard.“We’re now able to turn our attention to collecting air and water samples and determine when the evacuation order can be lifted,” Richmond Mayor Dave Snow said Thursday night. “Our goal is to get people back into their homes as soon as possible.”One of two air samples taken a little more than a mile from the fire site detected chrysotile asbestos in debris, a US Environmental Protection Agency official said Thursday. Also called white asbestos, it can cause cancer and is used in products from cement to plastics to textiles.Anyone who may have fire debris in their yard should not mow it until officials can advise more on how to clean it up, the EPA official, Ja...

Fort Lauderdale airport reopens after devastating floods with more rain possible

Published Fri, 21 Feb 2025 18:41:06 GMT

(CNN) — The Fort Lauderdale airport reopened Friday morning, after monumental flooding wreaked havoc on the South Florida city and surrounding communities, closing schools and government buildings, and sending hundreds of residents to emergency shelters.Many streets turned into lakes across Fort Lauderdale on Wednesday and Thursday when a historic volume of rain exceeding 2 feet inundated the coastal city. The flooding shut down the Fort Lauderdale-Hollywood International Airport.The airport reopened Friday at 9 a.m., according to officials.Several travelers were in the line to get through security as operations slowly resumed and airline staff were checking in passengers.Departures “are delayed avg. 186 mins. due to runway obstruction,” the Federal Aviation Administration said.“Travelers are advised to check with their airlines for updated flight times BEFORE coming to the airport,” the airport said.“We’re planning to start our op...

The Rays are the real deal and may not be going away anytime soon

Published Fri, 21 Feb 2025 18:41:06 GMT

The Rays and their $74 million payroll are off to a ridiculous 13-0 start, annihilating every opponent in their path with 10 of their wins being decided by four or more runs. It’s an auspicious start, and one underpinned by more than simple good fortune over a handful of games. The Rays, Yankee fans may be troubled to learn, are both the real deal this season and poised to commit these types of atrocities to the AL East for some years to come.For a start, the Rays were already pretty good. Kevin Cash’s club managed 86 wins and snuck in as the third wild card before losing to the Cleveland Guardians — despite missing arguably their two biggest offensive contributors for the majority of last season.Highly-touted shortstop Wander Franco played just 83 games due to a broken hamate bone/hamstring injuries while Brandon Lowe — who slugged 39 homers in 2021 — appeared in just 65 games due to a stress reaction in his lower back.Now their No. 2 and 4 hitters are...

Still yet to graduate high school, Heat’s Jovic a sidelined study in NBA potential

Published Fri, 21 Feb 2025 18:41:06 GMT

No, this is not what Miami Heat forward Nikola Jovic expected from his first NBA season.Then again, perhaps there should be some slack, considering the kid has yet to graduate from high school.“Still have to wait on that,” the 19-year-old big man said this week amid the Heat’s postseason workouts. “I have to go back and take the tests in person.”Put into that context, perhaps a rookie season limited to 15 NBA games and seven more in the G League, is merely part of a growth curve.Then again, it well could be that growth curve that had the 6-foot-11 Serb out since Dec. 28 due to back spasms.“I’m still growing,” he said, “but my bones are a little weak. I mean, you learn from this, how to handle your body.”Listed as 225 pounds, Jovic said the emphasis while sidelined was strengthening and evolving.“I think I gained a lot of stuff,” the No. 27 pick in last June’s draft said. “First of all, just seeing ho...

Markham man arrested in human trafficking investigation

Published Fri, 21 Feb 2025 18:41:06 GMT

A 32-year-old Markham man is in custody following a human trafficking investigation conducted by police in Halton.Halton Regional Police allege a victim was trafficked over a period of time throughout the GTA.Jamil Wong, 32, from Markham was arrested on Thursday. He faces a number of charges, including procuring a person to provide sexual services, receiving material benefit resulting from trafficking a person and from sexual services, and sexual assault.Police say the accused also goes by the nicknames ‘RBC’ and ‘Royal.’Investigators believe there may be additional victims.Anyone with additional information is being asked to contact the Human Trafficking Unit at 905-825-4777 ext. 4983. Anonymous tips can be made through CrimeStoppers at 1-800-222-8477 (TIPS).

Galtier deeply hurt by accusations he made racist comments

Published Fri, 21 Feb 2025 18:41:06 GMT

PARIS (AP) — Paris Saint-Germain coach Christophe Galtier said he feels hurt “at the deepest level” of his humanity by accusations that he made racist and anti-Muslim comments when he was in charge of French club Nice.RMC Sport and other French media this week quoted a leaked email from former Nice director of football Julien Fournier to the club’s owners, in which he accused Galtier of saying there were too many Black and Muslim players in the squad.“I am deeply shocked by the comments that have been attributed to me and that were relayed by certain people in an irresponsible way,” the 56-year-old Galtier said Friday ahead of league leader PSG’s home game against second-place Lens on Saturday. “They hurt me at the deepest level of my humanity. I was a child who grew up in council estates, brought up in a mixed environment (with) the values of sharing and respect for other people, whoever they are, (whatever) their origins, their color, their religion.”Galtie...

Expelled Russian diplomats are spies, Norwegians say

Published Fri, 21 Feb 2025 18:41:06 GMT

COPENHAGEN, Denmark (AP) — A senior Norwegian spy agency officer said Friday that ”the intelligence threat from Russia is not gone, but significantly reduced” after Norway expelled 15 Russian diplomats on suspicion of spying. “We are sure that they are intelligence officers,” said Inger Haugland, head of the counterintelligence unit with the Norwegian Police Security Service, known as the PST. “We believe that the measure taken yesterday was a good and important measure.” On Thursday, Foreign Minister Anniken Huitfeldt said the diplomats were suspected of spying while working at the Russian Embassy in Oslo. Haugland said most of the 15 diplomats were working either as spy handlers or intercepting telephone and data traffic. She said they were employed either by Russia’s civilian spy agency, the FSB (Federal Security Service) or by the GRU, which runs military intelligence. Haugland described them as “specialists” but declined to give further details or say whether they h...

Average home price to end the year 4.8% lower than 2022, will rise 4.7% in 2023: CREA

Published Fri, 21 Feb 2025 18:41:06 GMT

OTTAWA — The Canadian Real Estate Association expects the average price of a home to end the year 4.8 per cent lower than 2022, but says prices will rise by roughly the same amount in 2024.The association’s prediction amounts to an average price of $670,389 this year and $702,214 next year, when prices are expected to increase by 4.7 per cent.The board also foresees home sales falling 1.1 per cent to 492,674 this year and then rising 13.9 per cent to 561,090 in 2023.It says the forecast accounts for little change in month-over-month sales seen since summer 2022 and the modest monthly gains recorded in February and March.The board’s forecast was released as it announced March home sales fell 34.4 per cent to 41,636 from the year before and on a seasonally-adjusted basis, reached 33,833, about one per cent higher than they had been in February.The average home price was $686,371 in March, down 13.7 per cent from the year prior but up almost $75,000 from its January 2023 le...

Wall Street holds Thursday’s gains as bank earnings roll in

Published Fri, 21 Feb 2025 18:41:06 GMT

BEIJING — Wall Street held steady in premarket trading Friday as some of the nation’s biggest banks posted strong first-quarter profits one day after markets surged on reports of slowing inflation.Futures for the Dow Jones industrials ticked up 0.1% and futures for the S&P 500 were essentially flat.JPMorgan Chase reported a 52% jump in profits over last year’s first quarter, while Well Fargo reported its profits increased 32%. The strong showing suggests few signs of potential trouble in the banking system — at least among the nation’s biggest, most complex financial institutions — following the collapse of two banks in March.Shares in Wells jumped 4% in premarket while JPMorgan gained 6%.Shares in Boeing slid 6% in premarket after the aircraft maker said Thursday that production and delivery of a “significant number” of its 737 Max planes could be delayed because of questions about a supplier’s work on the fuselages.Boeing said the supplier, Spirit AeroSystems, used...