Sycamore Partners Will Buy Talbots for 369 million
Talbots Inc., a retailer and direct marketer of women’s classic clothing, shoes and accessories, said Thursday that it agreed to be acquired by Sycamore Partners for $369 million including debt.
According to sources, Sycamore is Talbots' second-largest shareholder, which will receive $2.75 per share. In December, Talbots rejected the $3.05 per share previously offered by the ...
Apple Revealed WWDC Schedule and Keynote for June
Apple Inc. announced on Tuesday its schedule and latest app for the Worldwide Developers Conference (WWDC) next month.
According to the company, the main event will be the opening keynote, which will take place on Monday, June 11at 10 a.m in San Francisco.
Apple also launched a free app for the iPhone and iPad, called WWDC 2012. After ...
US Banks 1Q Net Income Increased 22.9%
On Thursday, the Federal Deposit Insurance Corp. (FDIC) announced that the U.S. banks earnings increased in the first quarter to the highest level in about five years.
The nation's 7,307 banks and thrifts posted net income of $35.3 billion in the first quarter, up 22.9 percent, or $6.6 billion, in the same quarter a year ago, ...
U.S. Home Sales Increased in April
On Tuesday, the National Association of Realtors said that the sales of existing homes increased 3.4 percent to a 4.62 million units last month - 10 percent higher than a year ago.
“We are making incremental progress,” said Millan Mulraine, a senior U.S. strategist at TD Securities Inc. in New York, who correctly forecast the sales pace.
“People are ...
Brown Shoe 1Q Profit fell 54%
Brown Shoe Company, a famous footwear company in the U.S. and Canada, reported Friday that its first-quarter profit declined 54 percent due to higher markdowns at both the wholesale and retail level.
The company's shares increased $1.36, or 15.5 percent, to $10.12. Revenue rose 1 percent to $626.4 million from $619.6 million, according to sources.
Brown Shoe is a $2.3 ...
Apple’s New iPhone Will Have Bigger Screen
The new iPhone is expected to be bigger than iPhone 4S, the most recent version of the popular smartphone.
The next generation iPhone will have larger screen that measures 4 inches from corner to corner, according to sources. All recent versions of the iPhones have 3.5 inches display.
Apple also doubled the resolution to 640 x 960 ...
How to Choose the Right Checking Account
With so many options available, choosing the right checking account for you may be a daunting decision. There are a number of components to understand before choosing what bank and which particular account they offer is the right option for you.
Today, many people are opening new checking accounts, as the market is improving and consequently ...
Retail sales slowed in April
Sales for several big U.S. retailers, including Macy’s Inc., Target Corp., Costco Corp., Gap Inc., slowed in April.
According to Thomson Reuters index, an average of April's results for 20 retailers rose 0.8 percent, compared with estimates for a 1.5 percent gain. Sales in March increased 4.3 percent.
Target, the second largest discount chain in the U.S., ...
30-Year Mortgage Rates Dropped to 3.88%
Mortgage buyer Freddie Mac said that the average rate on the 30-year fixed mortgage fell to 3.88 percent last week, down from 3.90 percent in the prior week.
The rate was 3.87 percent in February, compared with 4.78 percent a year ago.
According to Freddie Mac, the 15-year fixed-rate mortgage declined to 3.12 percent in the most recent ...
