A group of luxury goods makers sued Alibaba Group Holding Ltd (BABA.N) on Friday, contending the Chinese online shopping giant had knowingly made it possible for counterfeiters to sell their products throughout the world. The lawsuit was filed in Manhattan federal court by Gucci, Yves Saint Laurent and other brands owned by Paris-based Kering SA (PRTP.PA) seeking damages and an injunction for alleged violations of trademark and racketeering laws. The
Apparel retailer American Apparel Inc sued its ousted chief executive Dov Charney for violating his standstill agreement with the company. The company said on Friday it has filed a suit with the Delaware …
Jana, run by Barry Rosenstein and known as a practitioner of activist investing, took a new 125,000 share stake in McDonald’s after having sold a small position in the fourth quarter. Keith Meister’s Corvex Management LP also took a new position in the company, buying 205,000 shares. Larry Robbins’ Glenview Capital Management added a new position in McDonald’s, buying 2.9 million shares during the first quarter.
A U.S. judge on Friday ordered Nomura Holdings Inc and Royal Bank of Scotland Group Plc (RBS.L) to pay a collective $806 million for making false statements in selling mortgage-backed securities to Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB). U.S. District Judge Denise Cote in Manhattan entered the judgment after finding the banks liable on Monday following a non-jury bench trial in a lawsuit by the Federal Housing Finance Agency
Top U.S. hedge fund management firms, including Leon Cooperman’s Omega Advisors and Philippe Laffont’s Coatue Management, continued to reduce or slash stakes altogether in Apple Inc (AAPL.O) during the first quarter, as shares of the iPhone maker rallied. According to regulatory filings released on Friday, Coatue cut its holding of Apple by selling 1.2 million shares during the first three months of this year, but it remains the fund’s single
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Jonathan Krinsky, chief market technician at MKM Partners has identified patterns that suggest the price action in the S&P is quite positive.
Homes are selling at a faster clip this spring. But when you look at the slew of data, something still isn’t quite right in housing.
Consumer confidence unexpectedly fell in May by the most in more than two years as Americans’ views on the economy dimmed. The outcome was lower than the lowest estimate of 68 economists surveyed by Bloomberg. “The decline was widespread among all age and income subgroups as well as across all regions of the country,” Richard Curtin, director of the Michigan Survey of Consumers, said in a statement. “To be sure,
“Most of us know it’s happening but we’re not reallocating resources or efforts nearly enough given the scale,” says Richard Dobbs, a director at the McKinsey Global Institute.
