Target (TGT) announced the closure of nine of its U.S. locations, citing safety concerns for its employees arising from retail theft and organized crime. Target previously made efforts to combat theft, but these measures proved ineffective. Team members affected by the closures will be provided the option to transfer to another company store. Within the past year, inventory shrinkage has cost the company approximately $700 million. Yahoo Finance Reporter Brooke DiPalma explains the impact of retail theft on Target and other major retailers, revealing staggering losses amounting to $112 billion with 67% of these losses directly linked to incidents of retail theft, as reported by the NRF. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Tina Turner was a singer, songwriter and actress. Known as the "Queen of Rock 'n' Roll". -- A senior banker at Nomura Holdings Inc. has been barred from leaving China in a move connected to a long-running investigation of a top dealmaker in the country, the Financial Times reported.
Most Read from BloombergIndians Have Five Days to Deposit $3 Billion in Soon-to-Be-Withdrawn BanknotesChinese Gold Buying Is Driving a Paradigm Shift in BullionIndia-Canada Clash Should Be a Wake-Up CallBonds Fall, Dollar Jumps as Fed Messaging Digested: Markets WrapHollywood Screenwriters ReaNEW YORK — Wall Street’s September swoon accelerated, knocking stocks down to their lowest levels since June. The S&P 500 fell 1.5% Tuesday, its fifth drop in six days.
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