Cheddar morning business update 9/7: Toys "R" Us considering filing for bankruptcy

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  • Lawmakers are paving the way self-driving cars on public roads. And those cars wouldn’t be required to have a driver behind the wheel. The House passed the Self Drive act, letting automakers deploy 25,000 self-driving cars without meeting existing safety standards. 
  • Gap is focusing on its athletic apparel brands, announcing it will close 200 Banana Republic and Gap stores within the next three years. The company plans to open about 270 Old Navy and Athleta stores in that timeframe. 
  • Toys "R" Us is considering filing for bankruptcy as it deals with hundreds of millions of dollars in debt. It comes ahead of the toy industry’s all-important holiday season, when many retailers earn about half of their yearly revenue.
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