Retailer Macy's has agreed to pay $650,000 to settle allegations of racial profiling at its flagship store in New York City.» Read More
*Lowe's, Target fall in premarket after results, forecasts. *Hertz tumbles after withdrawing forecast. NEW YORK, Aug 20- U.S. stocks were set for a slight dip at the open on Wednesday after weak earnings forecasts from retailers Lowe's and Target, ahead of the release of minutes from the most recent meeting of the Federal Reserve.
NEW YORK— Fortune Brands Home& Security Inc. said Wednesday that it has agreed to sell its Simonton Windows business to building products maker Ply Gem Holdings Inc. for about $130 million. Ply Gem, which is based in Cary, North Carolina, said it is buying Simonton to help it grow its windows division and plans to operate the company as a stand-alone business.
BUCKLAND, Mass.— The nation's oldest cutlery manufacturer has filed for bankruptcy after 177 years of making knives and other kitchen tools.
NEW YORK— Target slashed its annual profit outlook as the retailer continues to reel from a massive data breach, a disappointing expansion in Canada and sluggish sales in the U.S. The Minneapolis- based company said it earned $234 million, or 37 cents per share, in the quarter ended Aug. 2, compared with earnings of $611 million, or 95 cents per share, a year earlier.
NEW YORK/ LONDON, Aug 20 (Reuters)- A $300 million fine on Standard Chartered for lapses in anti-money laundering controls has piled pressure on the bank's board, coming after a series of transgressions and a drop in earnings that had already prompted calls for change at the top.
But surging growth in China means it's a market operators can no longer ignore. Carnival Corp., the No. 1 cruise company, will become the first global cruise operator to have four ships based in China when it deploys its Costa Serena to Shanghai in April.
TOKYO, Aug 20- Citigroup Inc is preparing to sell its Japanese retail banking operations, a source with direct knowledge of the matter said on Wednesday, as it waves the white flag on a venture plagued by regulatory troubles and anaemic lending.
NEW YORK— American cities looking to be more innovative in how they address local issues can now get a helping hand from former New York City Mayor Michael Bloomberg's charitable foundation. "We're asking cities to do so much more," said James Anderson, who leads the government innovation programs at the foundation.
NEW YORK/ BOSTON, Aug 20- A few months ago, an innovative partnership between Valeant Pharmaceuticals and billionaire investor William Ackman to buy Botox maker Allergan Inc looked like a blueprint for success.
NEW YORK, Aug 20- As the first U.S. oil condensate exports head to Asia from the Gulf Coast, crude producers and refiners are exploring ways to get around a century-old law that makes it three times more expensive to ship by water between U.S. ports than to sail to a foreign port.
NEW YORK— New York City's Metropolitan Opera reached a deal early Wednesday with its stagehands and said it expects to avert a lockout by reaching agreements with the remaining unions. The opera company said rehearsals will continue and the season will open as scheduled Sept. 22 with a new production of Mozart' s "Le Nozze di Figaro."
ALBANY, New York— The retailer Macy's has agreed to pay $650,000 to settle allegations of racial profiling at its flagship store in Manhattan's Herald Square. The attorney general's Civil Rights Bureau said it opened an investigation into Macy's in February 2013 when it received several complaints from minority customers.
Argentina slid into default last month after a New York court blocked an interest payment of $539 million owed to holders of debt that was restructured after the country's record 2002 default.
BUENOS AIRES, Aug 19- President Cristina Fernandez said on Tuesday her government will move to service its defaulted debt in Argentina or allow bondholders to swap their bonds for new bonds governed by national law in order to get around a U.S. court order.
Aug 19- Kroger Co, the largest U.S. supermarket operator, is the latest high-profile company caught in the battle over gun rights and gun control in the United States.
NEW YORK, Aug 19- When calm and order is finally restored to Ferguson, Missouri, the city's leaders may find little room to maneuver to resolve an issue that has long inflamed racial tensions: traffic tickets.
NEW YORK— Rental car company Hertz on Tuesday said it was withdrawing its annual profit guidance because of "operational challenges" posed by auto recalls, an accounting review and other problems. Earlier this month, Hertz delayed filing its second-quarter results because of that review.
NEW YORK, Aug 19- Citigroup Inc's general counsel for its global consumer business, Stephen Simcock, is leaving the bank "to pursue another opportunity," a spokeswoman said on Tuesday. Anita Romero, formerly head of the corporate legal department, will replace Simcock, spokeswoman Elizabeth Fogarty said by email.
It all makes Sonia Rao, a stay-at-home mother of a 1- year-old in Mountain View, California, "a little uncomfortable." WASHINGTON— U.S. home construction rebounded in July, rising to an eight-month high and offering hope that housing has regained momentum after two months of declines.
American Electric Power Co. rose$. 73 or 1.4 percent, to $52.20. Consolidated Edison Inc. Holding Co. rose$. 53 or. 9 percent, to $57.38. Dominion Resources Inc. rose$. 91 or 1.3 percent, to $69.59.