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By Nicholas P. Brown (Reuters) -Fast-fashion retailer Forever 21’s U.S. operating company on Sunday filed for Chapter 11 bankruptcy for the second time in six years, hamstrung by dwindling mall traffic and mounting competition from online retailers. The move means liquidation for the company, named F21 OpCo, which was unable to find a buyer for its roughly 350 U.S. stores. Forever 21’s trademark and intellectual property – still held by an entity called Authentic Brands Group – may live on in a different form. The rise of e-commerce players such as Amazon as well as Shein and Temu, paired with…

Bitcoin Whale Places $368M Short Bet With 40x Leverage Ahead of March 19 Fed Meeting A major Bitcoin whale has placed a $368 million short position with 40x leverage, betting on a price decline in the cryptocurrency ahead of the Federal Open Market Committee (FOMC) meeting scheduled for March 19. The position was initiated at $84,043 per Bitcoin, and it faces liquidation if the cryptocurrency rises above $85,592. Although the whale has gained over $2 million in unrealized profits, they also face more than $200,000 in funding fees for the position, according to data from Hypurrscan. Investors are closely monitoring…

Hong Kong CNN  —  China has announced a wide-ranging “special action plan” to promote domestic spending, in an effort to counter the economic impact of tariffs imposed by US President Donald Trump. The initiative, announced Sunday by the official Xinhua news agency, is ambitious but short on specifics. It covered everything from boosting people’s incomes to establishing a childcare subsidy system, and expanding a “cash-for-clunkers” program to trade in old goods like cars and electronics. The plan builds on Premier Li Qiang’s promise during a major political meeting earlier this month to ensure that the “giant ship of China’s economy”…

Getty Images; Jenny Chang-Rodriguez/BI Tesla’s steep stock decline hasn’t shaken the faith of some retail investors. Business Insider spoke to three investors who said they already bought the dip in Tesla shares after its huge drop. Most of them brushed off the $800 billion swoon as an “overreaction” and said they’re holding. Tesla stock is trading nearly 50% lower than its December peak, but the $800 billion wipeout hasn’t deterred retail investors who say they’re holding through the pain — and that they see the stock’s dramatic decline as an opportunity to keep buying. Retail investors Business Insider spoke to…

All eyes are now on gold as the ultimate safe-haven asset. The price of gold just hit $3,000 per ounce, an all-time record. That comes amid a correction in the equity markets, a substantial decline in the crypto market, and widespread concerns about what’s going to happen next with U.S. economic policy. But don’t forget about Bitcoin (CRYPTO: BTC), which has often been referred to as “digital gold.” A growing number of top investors now consider Bitcoin to be superior to physical gold as a store of value, a hedge against inflation, and a safe haven amid economic uncertainty. But…

LONDON: Chelsea’s challenge for a place in next season’s Champions League faltered in a toothless 1-0 defeat at Arsenal on Sunday as Fulham beat Tottenham Hotspur 2-0. Mikel Merino scored the only goal of a disappointing contest at the Emirates as Arsenal pulled clear in second place and to within 12 points of runaway leaders Liverpool. Chelsea badly missed the presence of the absent Cole Palmer due to injury as they meekly surrendered to a damaging defeat for their hopes of a top-four finish. The Blues remain in fourth for now but have five sides from Manchester City in fifth…

Almost nothing is guaranteed in life. Certainly not weather, electricity, health, tariffs or eggs. But for more than 50 years, American consumers could count on Southwest Airlines letting them check bags for free.Dallas-based Southwest is ending the policy in May. Customers are not happy.“It was the only reason I flew Southwest,” said MaKensey Kaye Alford, a 21-year-old singer and actress who lives near Birmingham, Alabama.Alford, who is planning to move to New York City later this year, said she would “definitely” consider taking another airline now.Southwest’s customer-friendly policies have survived recessions, oil price spikes and even the Covid-19 pandemic, winning it years of goodwill and a loyal following,…

By Trixie Yap SINGAPORE (Reuters) – Asia’s ability to supply sustainable aviation fuel will outpace regional demand this year and next as more production comes online, increasing exports and potentially lowering prices for the fuel, oil executives and analysts said. Planned SAF production could take a hit if regional demand remains tepid and prices fall below production costs, industry sources say, though Asia’s increased capacity is good news for airlines that have been complaining SAF is too expensive and hard to source. At least five SAF projects in Asia, outside of China, have started up or are earmarked to start…

Bitcoin Price Drops 22% From Record High, Analysts Predict Temporary Shakeout Before Market Rebound Bitcoin’s price has dropped 22% from its record high of $109,000 on Jan. 20, 2025, the day of Donald Trump’s inauguration. Despite this decline, analysts suggest the current downturn is likely a temporary shakeout rather than the end of Bitcoin’s bull market cycle. Bitcoin’s price is recovering, and technical indicators show that while there is some bearish movement, this correction is typical for the cryptocurrency’s market cycle. According to Bitfinex analysts, Bitcoin’s four-year cycle remains an essential factor in understanding its price fluctuations. They explain that…

INDIAN WELLS: Briton Jack Draper upset the overwhelming favourite Carlos Alcaraz 6-1, 0-6, 6-4 to reach the Indian Wells final on Saturday, denying the Span­iard in his bid for a rare “three-peat” in the California desert. Draper beat the world number three at Queen’s Club last year and had the winning formula again this time around, as the lefty relied on his lethal forehand to reach his first Masters 1000-level final, where he will face Denmark’s Holger Rune. “It was a strange match. You know, honestly Carlos came out, he was a bit flat, I sensed that,” Draper said in…