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.
UAE and Scotland boost investment ties
The UAE Ministry of Investment and the Scottish Government have signed a Memorandum of Understanding aimed at strengthening investment cooperation and boosting mutual investment flows between the two countries.
Trump threatens tariffs on any nation supplying Cuba with oil
US President Donald Trump has threatened new tariffs on Thursday on countries supplying oil to Cuba, escalating a pressure campaign against the communist-run island and long-time foe of the United States.
China relaxes visa rules for UK citizens on PM's trip to Beijing
China agreed to relax rules to allow some visa-free travel for British citizens on Thursday during a visit by Prime Minister Keir Starmer to Beijing, as part of a partnership deal which London hopes will help expand its service sector.
Tesla invests $2 billion in Musk's xAI, reiterates start of Cybercab production
Tesla has said on Wednesday it will invest $2 billion in CEO Elon Musk's artificial-intelligence company xAI, and that production plans for its Cybercab robotaxi were on track for this year.
7:00pm - 11:00pm
Officially the UAE's favourite DJ, Dany Neville makes sure you have the soundtrack you need every Saturday night.
The legendary Craig David joins The Kris Fade Show for an unforgettable chat!
S.N.E joins The Fusion with Eddie for an unforgettable episode! 🔥
The Rock and Chris Evans: A Christmas Surprise!
One of the most talked about comedians in the world takes over The Kris Fade Show. Watch the full interview here...
