Barneys New York has been taken over by Perry Capital in a debt-for-equity swap that reduces the luxury retailer’s borrowings by $540 million, allowing the chain to invest more in its rebounding business.
Good morning, and welcome back to the Griddle, a menu of fortified items for the busy person's media diet. South Africa, host of this year's UN climate negotiations, has the first stock exchange to mandate that companies integrate sustainability metrics into their balance-sheet reports. From a sustainability perspective, that puts the Johannesburg Stock Exchange ahead of the New York exchanges, which are unlikely to adopt similar measures anytime soon. Bloomberg News' Mark Lee reported yesterday that New York is having a difficult enough time retaining Chinese tech firms, who already find New York disclosure rules too strict and see higher returns from Hong Kong listings. "I am tired of the U.S.," Yang Tianfu, chief executive officer of Harbin Electric, said in a phone interview. "We just couldn't communicate with the investors."
Peter Slipper, who stepped aside as speaker of Australia’s parliament amid claims he sexually harassed a male staff member, said today the lawsuit was an abuse of court processes that had damaged his reputation.
Gucci Chief Executive Officer Patrizio Di Marco is “satisfied” with the performance of the PPR SA-owned fashion label in the first three months of 2009, Il Sole-24 Ore reported, citing an interview with the executive.