Latest Corporate News News
Saks Global Files for Bankruptcy
The parent company of Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman filed for bankruptcy about a year after a failed merger due to heavy debt and declining luxury sales. Executive chairman Richard Baker orchestrated the deal, with former Neiman CEO Geoffroy van Raemdonck now leading through bankruptcy. This highlights ongoing challenges in high-end retail.
Delta Airlines Reports Strong Premium Earnings
Delta posted $58.3 billion in full-year revenue driven by demand for premium offerings, while price-sensitive segments struggle. CEO Ed Bastian noted gains primarily among affluent customers during the earnings call. This reflects a K-shaped recovery in aviation.
Apple Partners with Google on AI for iPhone
Apple announced integration of Google's AI into iPhones, upgrading Siri, endorsing Google's capabilities and challenging OpenAI. The partnership boosts Google's position in AI tech.
McKinsey Introduces AI Test for Job Candidates
McKinsey now requires graduate candidates to use its in-house AI assistant for screening tests, simulating real work expectations. This pilot aims to assess AI proficiency in hiring.
Meta Launches Output-Based Performance Reviews
Meta debuted a platform valuing employee output over effort, similar to Amazon and X, per internal documents. It shifts focus to results in evaluations.
Titan America Acquires Keystone Cement for $310M
Titan America is buying Pennsylvania-based Keystone Cement from Fortaleza groups for about $310 million, announced January 8, 2026. The deal expands Mid-Atlantic footprint with synergies from existing operations.
Old Glory Bank to Go Public via $250M SPAC Merger
Old Glory Bank merges with DAAQ SPAC to list on Nasdaq as OGB Financial, valued at $250 million pre-money with $176M trust and $50M PIPE planned. Deposits grew over 2,000% to $245M; led by Ben Carson.
Calera Capital Acquires ReVamp Companies
Calera Capital bought ReVamp, a provider of floor coatings, fencing, and decking services, in early January 2026, its sixth Fund VI investment. Partners with founder Jeff Gear to expand footprint.
B&A Acquires Celestar Corporation
Virginia-based B&A acquired Celestar, enhancing intelligence for defense and national security clients like DoD and Intelligence Community. Celestar leadership remains; backed by DFW Capital.
Mitsubishi Closes $600M Investment in Copper World
Mayer Brown advised Mitsubishi on acquiring 30% stake in Hudbay's US Copper World mine project for $600 million. Strengthens strategic mining position.
Gulf Island Shareholders Approve IES Acquisition
Gulf Island Fabrication shareholders voted to approve acquisition by IES Holdings, expected to close January 16, 2026, delisting from Nasdaq. Meets customary closing conditions.
Fifth Third Bancorp to Acquire Comerica Bank
Noteworthy 2026 bank M&A includes Fifth Third Bancorp's acquisition of Comerica Bank, with far-reaching implications. Expected to close soon amid active sector consolidation.