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.
  • BusinessMore>>

  • In tit-for-tat, Trump threatens more tariffs against China

    In tit-for-tat, Trump threatens more tariffs against China

    Tuesday, June 19 2018 12:20 AM EDT2018-06-19 04:20:27 GMT
    Tuesday, June 19 2018 10:33 AM EDT2018-06-19 14:33:32 GMT
    President Donald Trump gestures as he signs a "Space Policy Directive" during a meeting of the National Space Council in the East Room of the White House, Monday, June 18, 2018, in Washington, as Vice President Mike Pence watches.  AP Photo/Susan Walsh)President Donald Trump gestures as he signs a "Space Policy Directive" during a meeting of the National Space Council in the East Room of the White House, Monday, June 18, 2018, in Washington, as Vice President Mike Pence watches. AP Photo/Susan Walsh)
    A new 10 percent tariff on $200 billion in Chinese imports is being threatened by Trump in the latest move toward what could become a trade war.
    A new 10 percent tariff on $200 billion in Chinese imports is being threatened by Trump in the latest move toward what could become a trade war.
  • Merkel says climate change is 'a fact,' laments US stance

    Merkel says climate change is 'a fact,' laments US stance

    Tuesday, June 19 2018 5:20 AM EDT2018-06-19 09:20:32 GMT
    Tuesday, June 19 2018 10:32 AM EDT2018-06-19 14:32:38 GMT
    (AP Photo/Markus Schreiber). In this photo taken with a red television camera control light in the fore ground, German Chancellor Angela Merkel attends a joint statement with the Prime Minister of Italy Giuseppe Conte prior to talks at the chancellery ...(AP Photo/Markus Schreiber). In this photo taken with a red television camera control light in the fore ground, German Chancellor Angela Merkel attends a joint statement with the Prime Minister of Italy Giuseppe Conte prior to talks at the chancellery ...
    Angela Merkel says Germany remains fully committed to the Paris climate accord, despite U.S. President Donald Trump's decision to pull out of the agreement.
    Angela Merkel says Germany remains fully committed to the Paris climate accord, despite U.S. President Donald Trump's decision to pull out of the agreement.
  • China hopes for implementation of NKorea-US summit outcome

    China hopes for implementation of NKorea-US summit outcome

    Monday, June 18 2018 10:40 PM EDT2018-06-19 02:40:24 GMT
    Tuesday, June 19 2018 10:32 AM EDT2018-06-19 14:32:23 GMT
    Chinese state media say North Korean leader Kim Jong Un will make a two-day state visit starting Tuesday.
    Chinese state media say North Korean leader Kim Jong Un will make a two-day state visit starting Tuesday.
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