Toy executive ends pursuit of Toys R Us
A California toy mogul has given up on plans to buy Toys R Us stores. Isaac Larian, creator of Bratz dolls, said all the parties with a financial interest in Toys R Us couldn't agree on a deal.
Walmart grabbed the top spot on the Fortune 500 list for the 14th time and sixth year in a row. The list ranks the biggest companies in the U.S. in terms of revenue. The retail giant last year became the first company in U.S. history to generate $500 billion in annual sales. Amazon moved into the top 10 for the first time.
Privacy and anti-monopoly advocacy groups launched the Freedom from Facebook campaign. They are demanding that the Federal Trade Commission force the social media giant to break up into four. They say Facebook is too powerful and should be four separate companies: Facebook, Messenger, WhatsApp and Instagram.
Consumer debt is set to reach $4 trillion by the end of this year. LendingTree says individuals are spending about 10 percent of their income each month paying non-mortgage debts like auto loans, credit cards, personal and student loans. Debt on auto loans and credit cards are rising especially fast.