Saks Global to Close 15 More Stores in Bankruptcy

The parent company of Saks Fifth Avenue and Neiman Marcus is closing more department stores as it focuses on its most profitable businesses and trims debt during its Chapter 11 bankruptcy restructuring.

12 Arrested in 18th Street Gang Drug Ring

Federal authorities on Friday arrested 12 alleged members and associates of the 18th Street Gang and are charging two more in a sweeping racketeering case that prosecutors say targeted a drug-trafficking and extortion network centered in LA’s MacArthur Park.[#item_full_content]

Stocks Fall as Oil Spikes 12%, Job Market Weakens

Wall Street’s three main indexes closed down Friday amid a sudden setback in the U.S. labor market and a 12% spike in U.S. oil prices due to the escalating conflict in the Middle East.[#item_full_content]

FDA Vaccines Chief Vinay Prasad to Step Down in April

The head of the U.S. Food and Drug Administration’s vaccines and biologics unit, Dr. Vinay Prasad, ​will leave the agency at the end of April, a spokesperson for the U.S. Department of Health and Human Services said on Friday.

$20B Maritime Insurance Plan for Gulf Launched

The U.S. International Development Finance Corp. announced on Friday a $20 billion maritime reinsurance initiative aimed at protecting shipping traffic in the Gulf region as tensions with Iran disrupt global trade routes.

Energy Secretary: Gas Prices Could Fall Within Weeks

Energy Secretary Chris Wright said Friday that gasoline prices could start falling within weeks even after a sharp run-up tied to the intensifying conflict with Iran, arguing the disruption to oil markets will not be permanent.[#item_full_content]

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