Walgreens is closing approximately 1,200 locations as the drug store chain struggles to contend with online competitors and declining prescription drug payments. By 2027, about one in seven Walgreens currently open will close its doors. About 500 Walgreens will close its doors over the next year, the drug store chain…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Hurricane Milton, which tore through central Florida last week causing widespread damage, will lead to about $36bn of insurance payouts for the private sector, according to risk modeller Karen Clark & Company.The…

Bath and Body Works has stopped selling a candle that was emblazoned with a winter theme that many commenters online compared to a Ku Klux Klan hood. The candle’s label, called “Snowed In,” was decorated with a stylized paper snowflake. But many people on social media compared it to the…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.European banks and fund managers have urged Brussels to publicly commit to shortening the window for settling EU stock and bond trades, as the US and UK press on with plans to…

Sunday marks one month since members of the International Association of Machinists began their strike against Boeing. The cost: nearly $5 billion, according to a new analysis by Anderson Economic Group, shared exclusively with CNN. That multi-billion-dollar tab highlights the difficulties facing the aircraft maker, once a byword for American…

Stay informed with free updatesSimply sign up to the Chinese economy myFT Digest — delivered directly to your inbox.China’s deflationary pressures picked up in September with weaker than expected consumer and factory prices, underlining calls for Beijing to deliver a bigger package of measures to lift the economy.The softer data…

You may have noticed something peculiar if you were doomscrolling as Hurricane Milton devastated Florida this week: social media creators who stuck out the storm in unsafe evacuation zones, seemingly for the sake of creating content. One Instagram influencer said she was staying in her beachfront Sarasota condo to help…

Stay informed with free updatesSimply sign up to the Investments myFT Digest — delivered directly to your inbox.Revived investor enthusiasm for bonds and growing confidence in a “soft landing” for the US economy is buoying some of the world’s biggest financial groups and sparking record inflows into fixed-income exchange traded…

Several hundred “underperforming” 7-Eleven locations across North America are closing, the convenience store announced. Seven & I Holdings, the chain’s Japan-based parent company, revealed in an earnings report Thursday that 444 locations of 7-Eleven are shutting down because of a variety of issues, including slowing sales, declining traffic, inflationary pressures…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The Nobel Peace Prize has been awarded to Nihon Hidankyo, a Japanese organisation of atomic bomb survivors from the 1945 attacks on Hiroshima and Nagasaki.The grassroots group was awarded the prize on…