Estée Lauder Offers Downbeat View as Department Stores Struggle
The declining fortunes of U.S. department stores have Estée Lauder Cos. on the defensive. As one of the world’s biggest beauty brands, the maker of Clinique and MAC has reason to be worried: roughly 30% of its global sales come from department stores. Macy’s Inc., which recently disclosed it will close 100 stores by early next year, is Estée Lauder’s biggest customer accounting for roughly 9% of its annual revenue. Chief...>> view originalCBO's Very Bad Report - It's Complete Nonsense That The Top 10% Hold 76% Of All US Wealth
Bank Of Ireland And RBS To Charge Negative Interest Rates To Depositors - Remember MF Global?
Stock rotation to continue as Fed seen open to 2016 hike
By Rodrigo Campos | NEW YORK NEW YORK The rotation to cyclical sectors of the S&P 500 and away from defensive stocks could continue next week if Federal Reserve chair Janet Yellen strikes a tone more welcoming to an interest rate increase later this year.Fed speakers this week, including the influential New York Fed President William Dudley, seemed to blaze the trail for Yellen and her upcoming Friday speech in Jackson Hole, Wyoming as part of a global meeting of central bankers.Dudley said ..>> view originalLondon's mayor says overnight subway will boost economy
Passengers pass an advert for the night tube on a platform at Oxford Circus underground (tube) station, in London, Wednesday August 17, 2016. The London underground launches a 'Night Tube' service for the London mass transport system on Friday August 19. (Dominic Lipinski / PA via AP) syndication.ap.org LONDON (AP) — London bills itself as a global city, the world's biggest financial center and a creative hub to rival New York. Until now, though, getting home after midn..>> view originalAt Viacom, Now Comes the Hard Part
Photo Shari Redstone, daughter of Sumner M. Redstone. What they will do with the company is a subject of speculation. Credit Ryan Stone for The New York Times In the summer of 1987, Sumner M. Redstone wrested control of Viacom in a hostile corporate takeover that left scorched relationships with the company’s management. Still bitter, executives sent Thomas E. Dooley, Viacom’s 30-year-old treasurer, to greet Mr. Redstone when he visited the Viacom office, the new boss w..>> view originalLyft was seeking as much as $9 billion in a buyout
Lyft will continue its fight for marketshare alone, at least for now. The ride-hailing startup that’s become a perennial runner up to global behemoth Uber had recently sought as much as $9 billion in a buyout offer but failed to secure serious interest, sources told Recode. After General Motors, a Lyft investor, expressed the possibility of buying the company, the startup hired investment bank Qatalyst to solicit competing offers from other potential buyers, a common practice after receiving b..>> view originalWhere Clinton and Trump Stand On Retirement Security
MARKET SNAPSHOT: Stock-market Investors Will Hang On Yellen's Every Word At Jackson Hole
Shutterstock photo By Wallace Witkowski, MarketWatch A week of 'will she/won't she provide direction' on deck As a low-volatility, low volume summer draws to a close, investors are eager to see whether Federal Reserve Chairwoman Janet Yellen will offer any clarity on the pace of future rate increases when she delivers remarks in Jackson Hole, Wyo. Yellen has the opportunity to clarify the outlook for rates when she speaks at the Kansas City Fed's annual symposium on Aug. 26, said Je..>> view originalGulf oil and gas lease sales become focus of protests
For the past year, oil and gas lease sales have usually been subdued affairs. There's no auction-style bidding, and no one from the public is supposed to speak. The bids have already been submitted, they're read aloud, and that's that. But the sales, which take place at the Mercedes-Benz Superdome, have recently become the focus of efforts by environmental advocates who want the federal government to stop selling leases in the Gulf of Mexico. They staged a major protest at the last sale in Mar..>> view original
Friday, August 26, 2016
Estée Lauder Offers Downbeat View as Department Stores Struggle and other top stories.
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