Even with its bankruptcy exit still not final, J.C. Penney is attracting new national brands to get ready for a holiday shopping season that’ll begin earlier than usual.



J. C. Penney at Collin Creek Mall in Plano last year during the holiday shopping season. That store is still open but is among the 150 stores closing soon.


© Staff Photographer/Nathan Hunsinger/The Dallas Morning News/TNS
J. C. Penney at Collin Creek Mall in Plano last year during the holiday shopping season. That store is still open but is among the 150 stores closing soon.

Penney’s new brands are mostly in its home department, which is where Americans have been spending money during the COVID-19 pandemic.

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Plano-based Penney plans to exit bankruptcy this year so it has to stay in the game. It responded to Amazon Prime Day with its own Cyber Days Monday through Wednesday.

Retailers including Walmart, Target, Best Buy and others are moving up Black Friday discounts to compete with Prime Day. The two-day Prime Day was delayed from its usual mid-summer dates as even Amazon was overwhelmed with new demand from shoppers who were staying at home due to the coronavirus. This year, Amazon’s Tuesday and Wednesday U.S. sales are expected to exceed $6 billion, up from $4.4 billion last year, according to eMarketer.

In a statement, Penney CEO Jill Soltau said her team is “working to secure partnerships with new national brands and to expand our product offerings as part of our efforts to provide compelling merchandise and deliver an engaging shopping experience to our customers.” She has declined interview requests during the bankruptcy.

Among Penney’s new brands announced Monday are Schott Zwiesel wine glasses and Luminarc glassware, Cambridge flatware and Nordic Ware cookware. Those brands are also sold at specialty stores Williams-Sonoma, Sur La Table and Bed Bath & Beyond and direct competitor in the mall, Macy’s. New brands include Taste of Home cooking magazine bakeware, which is also sold at Macy’s and

Outside the Bank of Japan (BOJ) headquarters in Tokyo on Sept. 14.

Photographer: Kiyoshi Ota/Bloomberg

The Bank of Japan’s escalating presence in almost every corner of the nation’s financial markets threatens to further distort activity and complicate any future pulling back from stimulus.

The central bank’s growing pile of assets has now reached the equivalent of 137% of gross domestic product, according to a Bloomberg calculation based on official data. In dollar terms, the tally of securities, loans and other assets is just 8% smaller than the Federal Reserve’s even though the U.S. economy is four times bigger than Japan’s.

While economists laud the relative success of the BOJ’s measures to support businesses and the economy through the Covid-19 crisis, many of them also warn that accelerated growth in the bank’s asset mountain will be hard to scale back in the future without unnerving investors and shocking loan-dependent companies and policy makers.

With its array of corporate debt and commercial paper quickly building, the BOJ’s “whale in the pond” presence is also spreading beyond government bonds and stock funds to distort other markets and further crowd out private investors.

“It’s like the BOJ has created an intensive care unit and wheeled everybody inside. It’s so comfortable on the drip feed that no one wants to leave,” said Takahiro Sekido, chief Japan strategist at MUFG Bank Ltd.

BOJ's asset haul is larger than Fed's by the size of an economy

The BOJ aggressively ramped up its lending and asset buying in March as the looming scale of the pandemic spread jitters among investors and businesses.

Given the already bloated size of the BOJ’s assets, the pace of increase appeared smaller in scale than its global peers, especially compared with the Federal Reserve. That partly reflects the Fed’s efforts to trim back earlier stimulus, something the BOJ was unable to do and

What’s hot in crypto this week? 

BitMEX — it’s a peer-to-peer cryptocurrency exchange and derivatives trading website dealing in bitcoin. It was founded in 2014 in Hong Kong, but is currently based in the Seychelles. BitMEX offers a variety of trading services, including margin trading with up to 100-times leverage. That means a deposit of $1,000 will result in a trader having the ability to trade $100,000 worth of BTC and futures trading, allowing investors to bet on the future prices of BTC. 

The platform only handles prices in bitcoin, rather than fiat currencies, meaning that all gains and losses are in BTC. In 2016, BitMEX became the first Bitcoin denominated futures contract on a Chinese A Share index.

Why? 

On Oct. 1, the U.S. Attorney’s Office for the Southern District of New York unsealed a criminal indictment against several BitMEX executives, including the chief technology officers, alleging they failed to comply with the Bank Secrecy Act before allowing U.S. residents to trade funds on the platform. Specifically, the authorities said the exchange did not conduct know-your-customer checks, which opened the door for potential criminal activity. The U.S. Attorney even alleges that BitMEX failed to register with the Commodity Futures Trading Commission, or CFTC.

This is a big deal. BitMEX, which has objected to the charges, is one of the industry’s largest trading platforms. In 2016, it introduced a derivative known as perpetual swaps (futures that don’t expire) to the market, with up to 100-times leverage, and for many years it was the market leader by derivative volume and open interest. 

“BitMEX touts itself as the world’s largest cryptocurrency derivatives platform in the world with billions of dollars’ worth of trading each day. Much of this trading volume and its profitability derives from its extensive access to United States markets

Matthew Anderson is leaving Roku after serving as its chief marketing officer for seven years — and he’s joining James Murdoch’s Lupa Systems investment company as a strategic adviser.

Anderson, a former News Corp and Sky exec, announced Monday that he will exit Roku effective in December. A Roku rep confirmed his departure but declined to comment. At this point, Roku has not identified a replacement for Anderson as CMO.

According to Anderson, who announced his new role with Lupa in a LinkedIn post, he first worked with James Murdoch when the latter became CEO of Star TV (then owned by News Corp) in 2000.

“I am thrilled to be joining Lupa Systems as Strategic Advisor in December, co-investing with James Murdoch and his exceptional team to scale businesses shaping media, security, sustainability and India/East Asia for years to come,” Anderson wrote. “I’ll be joining long-standing colleagues to support inspiring and disruptive companies and deploy Lupa’s playbook.”

Murdoch formed Lupa Systems last year, after he left as CEO of 21st Century Fox following Disney’s acquisition of major pieces of the 21CF empire. Since then, Lupa has acquired stakes in Vice Media Group and location-based VR startup the Void. Lupa also teamed with Attention Capital, led by former 21st Century Fox exec Joe Marchese, to acquire a controlling stake in Tribeca Enterprises.

Anderson joined Roku in 2012 as a strategic adviser and was named Roku’s first chief marketing officer in 2013. In his LinkedIn post, he said his professional vision at the time “was to become CMO of an engineering-led company; to help take it public; and work at the disruptive edge of media.”

Anderson called Roku CEO Anthony Wood “an inventor, entrepreneur and critical thinker who creates products that make TV better for everyone.”

At Roku, “we’ve scaled in the

NEW YORK (Reuters) – U.S. stock exchanges have put New Jersey on notice: Pass a financial transaction tax and they will relocate their primary data centers, where billions of dollars of trades are executed daily – possibly to Chicago.

A move to the Windy City wouldn’t just save millions in annual tax dollars. It could also help level the playing field for market participants by making lightning-fast price changes harder to exploit by high-speed traders and promote deeper liquidity, industry members said.

That’s because all 16 U.S. stock exchanges have their disaster recovery sites in the same building at 350 East Cermak Road in Chicago, as opposed to their main sites, which currently reside in three data centers spread across a 50-mile swath of northern New Jersey.

In the electronic trading world, the physical distance a signal must travel is a key factor in how long it takes to get an order filled, and the race to get the best prices is one in which nanoseconds matter.

Moving to the Chicago site would reduce the possibility for latency arbitrage, where firms detect a trade on one exchange and then use microwave or laser technology and sophisticated algorithms to race to the other exchanges, executing trades and booking profits before those exchanges can update their prices.

“A lot of investments in fast infrastructure would become obsolete and a lot of trading strategies on that side would be eliminated,” said Jack Miller, head of trading at Robert W. Baird & Co.

Reducing latency arbitrage would make it easier for market participants to complete trades at their desired price, said a senior exchange executive who was not authorized to speak publicly on the matter. That would encourage larger displayed trade sizes with tighter spreads between the price at which an asset is being