Gap Inc says it is shutting 230 of its stores.
The fashion firm also said splitting off its Old Navy brand, which will be a standalone company.
They say it's part of restructuring efforts aimed at "revitalising" the company.
According to latest figures, sales at Gap are continuing to fall while Old Navy's revenues are on the rise.
Trump pauses tariffs on Canadian imports, Carney says key work remains
US President Donald Trump announced late on Tuesday he was putting a three-day pause on new 50 per cent tariffs set to go into effect on Canadian goods at midnight, saying the two countries had reached a deal.
Meta trial that could reshape Facebook, Instagram gets underway
A coalition of US states suing Meta Platforms over claims Facebook and Instagram were designed in ways that harmed young users' mental health began making its case on Tuesday in California federal court in a trial that could reshape some of the most popular apps on the planet.
Nakheel begins handover of 892 homes at Jebel Ali Village
Nakheel, a member of Dubai Holding Real Estate, has begun handing over 892 homes at Jebel Ali Village, which is expected to be home to approximately 5,500 residents.
Indian state shuts some Domino's, Pizza Hut outlets, citing hygiene lapses
The Indian state of Maharashtra has suspended the licences of four Domino's outlets after reporting grease residue in pizza-making machines and insect infestations, the latest move in an intensifying crackdown by food regulators.
ADNOC's XRG advances global gas strategy with Venezuela entry
XRG, ADNOC’s international energy investment company, has announced its entry into Venezuela through the award of the offshore Loran licence, and the transfer of interest in the licence by PDVSA Gas.
The United Arab Emirates has halted all trade and financial transactions with Iran until further notice.
UAE air defence systems detected two ballistic missiles launched from Iran towards the country on Tuesday.
The UAE's air defence systems detected a missile threat on Tuesday, with authorities advising the public to stay in a safe location and follow official channels for warnings and updates.
