Walmart buys Bare Necessities
Walmart says it's buying online lingerie retailer Bare Necessities, the latest acquisition in its niche-brand buying spree.
Walmart declined to disclose how much it's paying for Bare Necessities, but says the deal will help deepen its expertise in the world of bras, swimwear and shapewear.
The company said Friday that Bare Necessities will remain as a stand-alone site. As part of the acquisition, Noah Wrubel, CEO and co-founder of Bare Necessities, will lead the intimates area for both Walmart.com and Jet.com, while also continuing to run Bare Necessities.
Walmart is aiming to attract younger, more affluent shoppers with its string of acquisitions. Two years ago, it bought Jet.com for more than $3 billion and since then it's been buying smaller online brands including Bonobos and Moosejaw.
HCA, BlueCross aid in hurricane relief
HCA Healthcare, a Nashville-based chain of 178 hospitals including Parkridge in Chattnaoga, said Friday it is giving $1 million to the American Red Cross to assist those affected by Hurricane Michael.
HCA Healthcare has 45 hospitals in Florida, including Gulf Coast Regional Medical Center in Panama City. The hospital sustained significant damage and we are in the process of evaluating the impact on services. Currently, the emergency room at Gulf Coast Regional is open.
"We are seeing firsthand the devastation Hurricane Michael has caused to communities in the Florida Panhandle where many of our patients and thousands of our colleagues live," said HCA Healthcare chairman and chief executive officer Milton Johnson.
Last month, HCA Healthcare provided $500,000 in support to the Red Cross for Hurricane Florence relief efforts in the Carolinas. Over the last several years, HCA Healthcare has provided financial support for relief efforts after several natural disasters, including Hurricane Harvey last year.
Also Friday, The BlueCross BlueShield of Tennessee Health Foundation said it has donated $25,000 to support the American Red Cross to help those in Florida and multiple states affected by Hurricane Michael.
"The impact of this storm across the Florida Panhandle has been overwhelming. And we're still getting reports of damage in other states," said Roy Vaughn, executive director of the Foundation.
Mnuchin says Trump respects Fed autonomy
Treasury Secretary Steven Mnuchin said Friday that President Donald Trump respects the independence of the Federal Reserve and the president's recent comments were simply a reflection of the fact that he favors low interest rates.
"The president has been clear," Mnuchin said in an interview with CNBC. "He likes low interest rates."
Mnuchin, who praised Fed Chairman Jerome Powell, said the president understands that the Fed is doing its job.
Trump this week has blamed the market's big sell-off on the Fed's interest rate increases, saying "the Fed is out of control." But Mnuchin disputed that Trump's comments represented an attack on the Fed.
"He doesn't feel the need to attack at all," Mnuchin said. "The president is concerned about the Fed raising interest rates too much and slowing down the economy. And those are obviously natural concerns."