MILAN— Italian retailer OVS has announced that designer Jean Paul Gaultier will do a capsule collection that will be in stores in November. The collection will feature 60 pieces, including accessories, for both men and women with the label Jean Paul Gaultier for OVS. OVS has previously collaborated with Elio Fiorucci and Costume National, and most recently... » Read More
NEW YORK-- TARGET'S CREDIT CARD SALE: Target reached a deal to sell its entire consumer credit card business to TD Bank Group, ending an almost two-year search for a buyer. THE DETAILS: The discounter, based in Minneapolis, said the sale price is equal to the gross value of the outstanding receivables at the time of closing.
A proposed settlement of a national class-action lawsuit, filed Oct. 16 in U.S. District Court in Vermont, says the government will revise its Medicare manual to make benefits available when care would only ``maintain the patient's current condition or... prevent or slow further deterioration''.
LOS GATOS, Calif.-- Netflix cut its prediction of how many video streaming subscribers it would add this year after its third-quarter additions of 1.2 million came in at the low end of the company's forecasts. Netflix's stock sank $10.72 in after-hours trading to $57.50.
Scott Walker spent months and millions of dollars on ads in the divisive recall election telling Wisconsin voters that the state is on the economic upswing _ a strong dose of good news that even Mitt Romney backers acknowledge helps the incumbent, President Barack Obama.
*Sluggish demand in China, more stimulus unlikely now. LONDON, Oct 23- Copper slid to a six-week low on Tuesday, giving up more gains from its September rally, as a strong dollar, renewed worries over Spain's sovereign debt and a lack of robust demand from China knocked investor risk appetite.
University of Illinois economist Richard Dye says solutions to problems like the state's backlog of bills and the Medicaid squeeze will be mentioned but not recommended. Illinois was among six states examined. Pat Quinn spokesman Abdon Pallasch says the July report highlighted problems the Illinois governor has fixed or proposed solutions for.
SALT LAKE CITY-- A report comparing the current housing market to the situation four years ago says the picture is noticeably bleaker in Utah's Salt Lake County. An analysis by foreclosure tracking firm RealtyTrac notes that Salt Lake County's home prices are down 36 percent and unemployment has doubled since 2008..
*Spanish debt yields rise as Moody's downgrades 5 regions. NEW YORK, Oct 23- The euro plunged versus the yen and hit a one-week low versus the dollar on Tuesday as concerns about a global economic slowdown and a spike in Spain's borrowing costs spurred broad-based risk aversion.
WASHINGTON, Oct 23- Most Americans have scant understanding about their water supply, but they are concerned about it, and believe recycling water gives the United States an advantage over other countries, a survey said on Tuesday.
José Luiz Gandini, the head of Kia in Brazil, told reporters at the Sao Paulo auto show that corporate strategy has given priority to affiliate Hyundai Motor Co for a major investment for a new factory in Brazil.
NEW YORK-- A reality check is coming to Rent the Runway, the online company that allows consumers to borrow _ for a fee _ designer clothes and accessories. It has unveiled a social-shopping platform with 12,000 customer photos to see how styles hang on different shapes. "You haven't seen this diversity of models anywhere else," says Jennifer Hyman, CEO and co-founder.
*Deal positions RBC as a leading auto lender in Canada. TORONTO, Oct 23- Royal Bank of Canada has agreed to buy the Canadian auto finance and deposit arm of Ally Financial Inc in a $4.1 billion deal to expand its vehicle-lending business at a time when loan growth overall is slowing in the country.
*Asbury plans to repurchase $25 M- $30 M of stock per year. Oct 23- U.S. auto dealership groups Sonic Automotive Inc and Asbury Automotive Group Inc posted higher third-quarter adjusted earnings as vehicle sales rose and costs stayed about flat.
Cogo Group Inc. said on Tuesday that it has a deal with its chairman and CEO, Jeffrey Kang, to buy some of its subsidiaries for $78 million. Cogo connects semiconductor companies to industrial and technology customers in China.
The chairman of the powerful House Appropriations and Budget Committee and the secretary of finance both said that while they oppose the idea of set pay increases for all state workers, they are willing to support a performance-pay system.
*Moody's downgrades Spanish regions including Catalonia.
NEW YORK-- It was one of the worst days of the year on Wall Street. The Standard& Poor's 500 index is finishing down 20 points at 1,413. And the Nasdaq composite index fell 26 points to 2,990 _ its first close below 3,000 since Aug. 6. DuPont, 3 M, UPS and Xerox all missed financial analysts' expectations for revenue.
NEW YORK-- Isis Pharmaceuticals Inc. said Tuesday that it will get $1.1 million from Alnylam Pharmaceuticals Inc. as part of Alnylam's new collaboration with Genzyme.
*OPEC secretary general post comes up in 2013. LONDON/ DUBAI, Oct 23- OPEC remains in a stalemate over selecting its next secretary general, delegates to the producer group said on Tuesday after a two-day meeting, due to rivalry between four member-countries over its top administrative post.