Neiman Marcus Group is stepping up preparations to seek bankruptcy protection, after the coronavirus pandemic forced the debt-laden U.S. luxury department store chain to close its stores, people familiar with the matter said on Thursday. Neiman began holding confidential discussions this week with bondholders about possible financing that would help the company continue operating while…

As governments rush to offer financial relief packages to homeowners, renters, small businesses and employees impacted by COVID-19, some Canadians are wondering why credit card bills aren’t included in those measures. Most Canadians pay an interest rate that’s far higher on their credit cards than they do for other forms of debt, which can make…

Canada has been in “close contact” with the United States about the oil price shock that’s battered North America’s energy sector, Deputy Prime Minister Chrystia Freeland said Thursday. But Freeland did not say whether Canada would consider participating in a global co-ordinated effort to curb oil production if such an agreement were proposed.    “Let me just say that this is a very fast-moving…

Creators of the freshly minted subscription streaming platform Quibi had a tough sell on their hands even before the COVID-19 pandemic spiralled us into uncertain financial times. Placing bets on millennials buying into another streaming service, especially one built entirely on short-form content produced by Hollywood, seemed risky from the start for many industry observers.…

An ill-fated cruise that has experienced a COVID-19 outbreak and four deaths is finally coming to an end after politicians in Florida agreed to allow its passengers to disembark in Fort Lauderdale. “I couldn’t begin to tell you how happy we are,” said passenger Chris Joiner, 59, of Orleans, Ont. He and his wife, Anna are on…

U.S. President Donald Trump on Thursday said he had spoken to Saudi Crown Prince Mohammed bin Salman and that he expects Saudi Arabia and Russia to cut oil output by 10 million to 15 million barrels per day, as the two countries signaled willingness to make a deal. A cut of that size would be…