U.S. stocks erased gains as investors sold equities in the final 30 minutes of trading before changes to MSCI Inc. indexes, trimming an earlier rally after improved housing data. Treasuries advanced while Europe’s benchmark gauge fell for the first time in three days.
Hugo Boss AG, the German luxury- clothing maker controlled by buyout firm Permira Advisers LLP, dropped the most in six months after postponing a profitability target as it spends more to make the brand better known in Asia.
Hugo Boss AG, the German luxury clothing-maker, reported earnings that missed analysts estimates as a difficult market environment in China and a weakening wholesale business offset higher retail sales.
Peter Schiff lays an iPod-sized bar valued at about $40,000 on the sun room floor of his Connecticut mansion, and calculates it would cost about $250,000 for each floor tile to pave the room with gold.
Permira Advisers LLP, the London- based private-equity firm that owns clothing brand Hugo Boss, is in advanced talks to buy iconic British punk-boot maker Dr. Martens, said a person with knowledge of the negotiations.