RETAIL
Sears prepares for possible liquidation as ESL bid fails
Sears Holdings Corp. is preparing to potentially liquidate the iconic retailer after chairman Eddie Lampert’s bid to buy several hundred stores out of bankruptcy fell short of bankers’ qualifications, people with knowledge of the matter said. The retailer held meetings Friday at which its advisers weighed the merits of a $4.4 billion bid by Lampert’s hedge fund to buy Sears as a going concern, said the people, who asked not to be identified. If the 125-year-old retailer does die in bankruptcy it would be the largest retail fatality yet since the shift to online shopping. While Lampert’s ESL Investments has failed to convince the bankers of the viability of its bid, it could still make last-minute improvements before a hearing on Tuesday. Lampert also has outlined a back-up plan in which ESL would pursue the purchase of some of Sears’s parts, including real estate and intellectual property, such as its brand. Spokesmen for Sears and ESL declined to comment. The retailer, which includes its namesake department stores and the Kmart chain, entered Chapter 11 protection in October — the second-largest retail bankruptcy filing ever, according to Bloomberg Data, after that of real estate specialist Capmark Financial Group. — BLOOMBERG NEWS
TECHNOLOGY
Apple to Start Offering iTunes Movies and Shows on Samsung TVs
Apple and Samsung have a deal that only recently would have seemed unthinkable: The iPhone maker will offer iTunes movies and TV shows on its archrival’s TV sets. Sunday’s announcement is “further evidence that Apple is willing to change its hardware-first approach and work with third parties to boost services revenue,” said Gene Munster, a longtime Apple-watcher. Last week, after Apple shocked investors by saying iPhone sales missed expectations for the holiday quarter, it pointed to a record services revenue of $10.8 billion. Apple and Samsung were at war for about seven years over smartphone patents, with Apple accusing its rival of copying the iPhone’s design. They settled in June, ending litigation. The “deal shows that perhaps Apple doesn’t quite view Samsung as the enemy it used to,” wrote Michael Gartenberg, a former Apple marketing executive. “There are others both Apple and Samsung should worry about.” The decision comes just weeks after Apple opened Apple Music to the Amazon Echo. To compete with Netflix and Amazon Prime, Apple will need as much reach as possible. Samsung TVs held 33 percent of the smart TV market last year, according to Statista. — BLOOMBERG NEWS
INTERNATIONAL
UK leader May: Brexit critics risk damaging UK democracy
British Prime Minister Theresa May said Sunday that a delayed vote in Parliament on her Brexit deal will definitely take place this month. May told the BBC that in coming days she will give more details about measures addressing Northern Ireland and concern about the Irish border. She also promised a greater role for Parliament in negotiations over future trade relations with the European Union and said ‘‘we are still working on’’ getting extra assurances from Brussels to secure domestic support for her deal. May struck a withdrawal agreement with the EU in November, but it needs Parliament’s approval. In December, she decided to postpone a parliamentary vote after it became clear the deal would be defeated in the House of Commons. Lawmakers resume debate Wednesday, before a vote expected around Jan. 15. If the deal is voted down, Britain risks crashing out of the EU on March 29 with no agreement in place, a messy outcome. EU officials have insisted the withdrawal agreement can’t be renegotiated. May warned on Sunday that critics of her deal risk damaging Britain’s democracy and its economy. — ASSOCIATED PRESS
THEME PARKS
Disneyland raising prices ahead of summer expansion opening
Prices for daily tickets, parking, and annual passes have been raised up to 25 percent at Disneyland Resort ahead of the opening of a “Star Wars”-themed expansion. Less than a year ago, the resort increased prices by up to 18 percent. Now, the cheapest daily ticket will cost more than $100. The Los Angeles Times reported price increases in recent years have not thinned the throngs at Disneyland and nearby California Adventure Park. More visitors are expected for this summer’s opening of ‘‘Star Wars: Galaxy’s Edge.’’ Disney said more days will be blocked out for most annual passes, compared to last year, but didn’t provide specifics. — ASSOCIATED PRESS
TECHNOLOGY
CES 2019: Chinese firms lay lower amid trade tensions
The CES 2019 gadget show, which kicked off Sunday in Las Vegas, will showcase the expanding influence of China’s rapidly growing technology sector. But some companies are stepping back from the spotlight amid rising US national security concerns about Chinese tech and President Trump’s trans-Pacific trade war. Trump expressed a more conciliatory tone Sunday as US trade negotiators prepared to meet with their counterparts in Beijing. Last year, a top executive of the Chinese telecom firm Huawei delivered a CES keynote address critical of AT&T’s cancellation of plans to sell a Huawei phone, following espionage concerns raised by the US government. This year, Huawei’s chief financial officer was arrested in Canada at the behest of the United States; Meng Wanzhou, daughter of Huawei’s founder, awaits US extradition. No Chinese tech executives will deliver CES keynotes this week. At least 20 percent fewer Chinese entrepreneurs bought booth space this year to show off their latest technology, the South China Morning Post reported. But Chinese firms still account for more than a quarter of the conference’s 4,500 exhibitors, second only to US companies. — ASSOCIATED PRESS