Revlon files for bankruptcy
CNN
Revlon, the 90-year-old cosmetics giant, filed for Chapter 11 bankruptcy protection because of its crippling debt and mounting celebrity competition.
The nail polish and lipstick maker said the move will allow it to "strategically reorganize" its finances, pointing to "liquidity constraints" sparked by supply chain disruptions and inflation. Revlon is receiving $575 million in debtor-in-possession financing to help support its day-to-day operations.
"Today's filing will allow Revlon to offer our consumers the iconic products we have delivered for decades, while providing a clearer path for our future growth," said Revlon CEO Debra Perelman in a release. She added that its "challenging capital structure has limited our ability to navigate macro-economic issues in order to meet this demand."
A coffee shop in Middleborough, Massachusetts, went viral overnight for offering free coffee to customers who entered the shop while dancing.
President-elect Donald Trump’s promise to further restrict immigration and roll out “mass deportations” has not been finalized, but the specter of looming policy changes is already reverberating throughout the US job market.
A recent lawsuit alleges Linda McMahon, who President-elect Donald Trump tapped to lead the Department of Education, knowingly enabled the sexual exploitation of children by a World Wrestling Entertainment (WWE) employee as early as the 1980s — allegations she denies.
Months into President Donald Trump’s first term in the White House, his Justice Department sent shockwaves through the media industry by suing to block AT&T’s takeover of CNN owner Timer Warner.
Social Security is by far one of the most popular government programs in the United States because it is critical for so many retirees’ financial security.
The US government formally proposed a partial breakup of Google on Wednesday, urging a federal judge to force a sale of the company’s Chrome web browser after a landmark ruling this year finding that Google had violated US antitrust law with its search business.
Indian billionaire Gautam Adani and other executives were indicted in New York for roles in a multi-billion-dollar fraud scheme, the US Department of Justice said Wednesday.
Europe could soon be welcoming a wave of well-heeled Americans, as Democratic voters facing the prospect of another Donald Trump presidency eye refuges abroad.
Comcast just jump-started a new season of major change across the television industry. And no one quite knows what will happen next.
Sheetz, the gas station and convenience store chain, is slashing prices at some of its pumps ahead of the busy Thanksgiving travel period.
Target is expecting a surprisingly weak holiday shopping season, a warning sign for the retail industry.