Cheddar morning business update 9/7: Toy ‘R’ Us considers filing for bankruptcy

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NEW YORK -
  • 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>>

  • Markle's bridal gown work of Givenchy's Clare Waight Keller

    Markle's bridal gown work of Givenchy's Clare Waight Keller

    Saturday, May 19 2018 7:53 AM EDT2018-05-19 11:53:09 GMT
    Sunday, May 20 2018 6:03 AM EDT2018-05-20 10:03:02 GMT
    (Andrew Matthews/pool photo via AP). Meghan Markle arrives for the wedding ceremony of Prince Harry and Meghan Markle at St. George's Chapel in Windsor Castle in Windsor, near London, England, Saturday, May 19, 2018.(Andrew Matthews/pool photo via AP). Meghan Markle arrives for the wedding ceremony of Prince Harry and Meghan Markle at St. George's Chapel in Windsor Castle in Windsor, near London, England, Saturday, May 19, 2018.
    British designer Clare Waight Keller is behind the silk boat-necked gown worn by Meghan Markle as she walked down the flower-bedecked nave of St. George's Chapel for her wedding to Prince Harry.
    British designer Clare Waight Keller is behind the silk boat-necked gown worn by Meghan Markle as she walked down the flower-bedecked nave of St. George's Chapel for her wedding to Prince Harry.
  • Maduro favored as Venezuelans vote amid crisis

    Maduro favored as Venezuelans vote amid crisis

    Sunday, May 20 2018 12:21 AM EDT2018-05-20 04:21:57 GMT
    Sunday, May 20 2018 6:02 AM EDT2018-05-20 10:02:34 GMT
    (AP Photo/Ariana Cubillos). Venezuela's President Nicolas Maduro makes the victory sign after a meeting with former Spanish Prime Minister Jose Luis Rodriguez Zapatero at the presidential palace in Caracas, Venezuela, Friday, May 18, 2018. Maduro is se...(AP Photo/Ariana Cubillos). Venezuela's President Nicolas Maduro makes the victory sign after a meeting with former Spanish Prime Minister Jose Luis Rodriguez Zapatero at the presidential palace in Caracas, Venezuela, Friday, May 18, 2018. Maduro is se...
    Venezuelans vote Sunday in a presidential election with Nicolas Maduro expected to win a second six-year term, despite a deepening crisis that's made food scarce and inflation soar as oil production in the once...
    Venezuelans vote Sunday in a presidential election with Nicolas Maduro expected to win a second six-year term, despite a deepening crisis that's made food scarce and inflation soar as oil production in the once wealthy nation plummets.
  • US, China agree to cut American trade deficit

    US, China agree to cut American trade deficit

    Sunday, May 20 2018 12:21 AM EDT2018-05-20 04:21:07 GMT
    Sunday, May 20 2018 6:02 AM EDT2018-05-20 10:02:33 GMT
    (AP Photo/Carolyn Kaster). White House chief economic adviser Larry Kudlow speaks during a television interview outside the West Wing of the White House, in Washington, Friday, May 18, 2018.(AP Photo/Carolyn Kaster). White House chief economic adviser Larry Kudlow speaks during a television interview outside the West Wing of the White House, in Washington, Friday, May 18, 2018.
    United States and China agree to reduce massive US trade deficit but no numerical target set.
    United States and China agree to reduce massive US trade deficit but no numerical target set.
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