Blog

American Apparel ex-CEO Charney sues company, alleging defamation

The lawsuit, filed on Tuesday in California Superior Court, seeks a minimum of $20 million in damages. The lawsuit is one of several from Charney, who was suspended as CEO last June and dismissed six months later. Charney also filed a $30 million defamation lawsuit last week against Standard General LP, one of American Apparel’s biggest investors.

Women take spotlight as curtain rises on Cannes film fest

A gritty French social drama by a female director opened the Cannes Film Festival on Wednesday rather than a customary Hollywood blockbuster, helping to underline this year’s focus on women. Director Emmanuelle Bercot became the first woman since 1987 to open the world’s most famous film festival with “Standing Tall”, starring French icon Catherine Deneuve. The tough drama marks a change from the normally star-studded openers of past years, such

Retail sales unchanged; import prices weak in April

U.S. retail sales were flat in April as households cut back on purchases of automobiles and other big-ticket items, indicating the economy was struggling to rebound strongly after barely growing in the first quarter. The weak retail sales report from the Commerce Department, and other data on Wednesday showing the 10th straight month of declining import prices in April, suggest little urgency for the Federal Reserve to start raising interest