Latest Corporate News
Saks Global Files for Bankruptcy
The parent of Saks Fifth Avenue, Neiman Marcus, and Bergdorf Goodman filed for bankruptcy a year after a failed merger due to high debt and slumping luxury sales. Executive chairman Richard Baker orchestrated the deal; former Neiman CEO Geoffroy van Raemdonck will lead through restructuring.
Delta Airlines Reports K-Shaped Earnings
Delta posted $58.3 billion full-year revenue driven by strong premium demand, but price-sensitive segments struggle. CEO Ed Bastian noted gains only among affluent customers amid uneven recovery.
Apple Partners with Google on AI for iPhone
Apple announced integration of Google's AI into iPhone, upgrading Siri, endorsing Google's capabilities. This likely challenges OpenAI in the AI assistant space.
McKinsey Introduces AI Test for Job Candidates
McKinsey requires graduate candidates to use its in-house AI assistant for screening tests, simulating expected work practices at the firm.
Meta Launches Output-Based Performance Reviews
Meta debuted a platform valuing employee output over effort, like Amazon and X, for frequent feedback. A spokesperson highlighted its efficiency in high-performance culture.
Allianz Risk Barometer: Cyber #1, AI #2 Risks
Cyber incidents, especially ransomware, top global business risks for fifth year at 42%; AI rises fastest to #2 at 32%. Political risks hit highest at #7 amid geopolitics.
Fifth Third and Comerica Receive Merger Approvals
Federal Reserve approved Fifth Third Bancorp and Comerica merger; all material approvals received, expected close February 1, 2026, forming ninth largest U.S. bank.
VERSANT Completes Acquisition of Free TV Networks
VERSANT acquired Free TV Networks, expanding into over-the-air and FAST channels as a dedicated business unit.
Old Glory Bank Announces $250M SPAC Merger
Old Glory Bank to go public via SPAC merger with DAAQ, valuing at $250M pre-money, listing as OGB Financial on Nasdaq Q1/Q2 2026. Plans crypto expansion including stablecoin.
Global Stock Markets Surge Amid Trade Data
Nikkei hits all-time high +1.61%, Hang Seng +0.6% on Chinese trade surplus; gold at record $4,642. European luxury stocks rally despite energy lags.
WEF Global Risks Report: CEOs Fear Downturn, Inflation
World Economic Forum's 2026 report highlights CEOs' top risks: economic downturn, inflation bubble bust ahead of Davos.
HgCapital, Others to Acquire OneStream in Top M&A
HgCapital, General Atlantic, Tidemark to acquire OneStream; leads global M&A deals for week of Jan 5-11, signaling active market.