Cannes Watch: Don't ask the Coens about TV

Business inventories barely rise, suggest first quarter GDP contraction

U.S. business inventories barely rose in March as sales recorded their biggest gain in eight months, the latest indication that the economy actually contracted in the first quarter. The Commerce Department said on Wednesday business inventories edged up 0.1 percent after a downwardly revised 0.2 percent gain in February. Retail inventories excluding autos, which go into the calculation of GDP, ticked up 0.1 percent in March. The government estimated that

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