GOOD DAY FOR: The sincerest form of flattery, after Microsoft said that some of its new branded retail stores, slated to open in the fall, will be located right next to Apple’s successful retail stores. (Reuters)
BAD DAY FOR: Getting bailed out, as the 101-year-old commercial lender CIT Group took a big step towards bankruptcy following the collapse of federal financial rescue talks. CIT got $2.33 billion in TARP money in December, and federal regulators were apparently unconvinced by CIT’s assertion that it is too big to fail. It is unclear if the U.S. would recover any of the TARP funds in bankruptcy court. (Bloomberg)
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
China’s burgeoning coffee cultureUnder The Radar Local chains are thriving as young middle-class consumers turn away from tea
-
Obamacare: Why premiums are rocketingFeature The rise is largely due to the Dec. 31 expiration of pandemic-era ‘enhanced’ premium subsidies, which are at the heart of the government shutdown
-
Ultra-processed AmericaFeature Highly processed foods make up most of our diet. Is that so bad?
