Day: September 3, 2020

Saks Owner Hudson’s Bay Drops Financing Plan: Sources | Investing News

NEW YORK (Reuters) – Hudson’s Bay Co, the owner of luxury department store Saks Fifth Avenue, has ditched its plan to raise up to $900 million in debt after prospective investors requested a higher interest rate than the company was willing to pay, people familiar with the matter said on Wednesday.

The pulled bond offering highlights the perceived risk of lending to brick-and-mortar North American retail chains, even as swaths of the United States and Canada reopen stores and many industries have had easy access to new financing.

Hudson’s Bay, which also owns eponymous department stores in Canada, had sought the bond financing in June to shore up its balance sheet as the COVID-19 pandemic crimped sales.

However, Hudson’s Bay declined to take on the extra debt after finding the interest rate would be higher than initially expected and would come with financially restrictive terms, the sources said. Hudson’s Bay

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Insights on the Global Industrial IoT Gateway Market 2020- 2024: COVID-19 Analysis, Drivers, Restraints, Opportunities, and Threats – Technavio

LONDON–(BUSINESS WIRE)–The industrial IoT gateway market is expected to grow by USD 1.12 billion, accelerating at a CAGR of over 15% during the forecast period. Download Free Sample Report

The increased focus on edge computing is one of the major factors propelling market growth. However, the high installation cost will hamper market growth.

The rise in the number of instruments used on industrial premises has increased the overall volume of data generation. This has created a need for segregating data to ensure better decision making among industrial operators. Besides, the growing use of IoT enabled devices has increased the need for edge computing and industrial IoT gateways to improve real-time data analysis. The integration of IoT devices, edge computing, and big data analysis helps in proper decision making as it provides accurate information and identifies the actual cause of the underlying problem. With the rising adoption of IoT

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‘Ghosting’ is not just for lovers. These job applicants say ‘cruel’ and ‘selfish’ employers do it too.

The search for new employment has been brutal for millions of Americans faced with a 10.2% unemployment rate. 

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With more than 58 million Americans losing their jobs since the start of the coronavirus shutdowns in mid-March, competition for the few slots available has been fierce.

Job seekers of all ages are being forced to contend with a phenomenon often more familiar to the dating scene – ghosting. For the romantically uninitiated, that’s when your crush dumps you but never takes the time to pick up the phone to let you know that they’ve moved on. 

Job seekers are feeling that same sense of rejection, though this time it’s hurting their wallets rather than their hearts. 

According to a recent LinkedIn poll, 93% of job applicants reported being “ghosted” by an employer after an initial in-person interview or after responding to a request for additional information. (The poll surveyed

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Federal lawsuits filed in Pittsburgh against insurance companies that didn’t pay for pandemic-related losses

Following on the heels of dozens that have already been filed across the country, three potential class-action lawsuits related to covid-19 were filed in federal court in Pittsburgh late this week.

All three complaints were filed against insurance companies alleging that they failed to cover claims for losses their customers sustained because of government-ordered shutdowns during the pandemic.

In one complaint filed in U.S. District Court, James and Jessica McMenamin Jr., of Butler County, are suing Arch Insurance Co. and Arch Insurance Solutions Inc. for failing to cover their losses for a trip that was canceled.

The couple booked tickets on Jan. 23 to travel from Pittsburgh to London, and then for a vacation tour from London to Rome, departing June 18 and returning 10 days later. They booked their travel

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