The iconic British fashion label Ted Baker has been thrust into uncertainty as it calls in administrators, putting over 900 jobs in jeopardy. The brand’s owner, Authentic Brands Group, has cited significant financial damage during its partnership with the Dutch company AARC Group, which managed Ted Baker’s operations throughout Europe. According to Authentic Brands Group,…
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JPMorgan Chase wins auction for First Republic bank in biggest U.S. bank failure since 2008 crisis
Regulators have seized control of First Republic, marking the third US bank failure since March. JPMorgan Chase emerged as the winning bidder for the ailing bank, taking all of its deposits and a “substantial majority of assets”. This seizure is the largest bank failure since 2008 when Washington Mutual collapsed, with JPMorgan also taking the…