Macy’s Inc., the second-largest U.S. department-store chain, reported fiscal first-quarter profit that beat analysts’ estimates and increased its share buyback program by $1.5 billion. The shares advanced.
U.S. Treasury Secretary Jacob J. Lew will meet tonight with Wall Street executives after convening several economists earlier this week to discuss challenges facing the labor market including long-term unemployment.
David Nosal, former regional managing director at Korn/Ferry International, was convicted of trade-secret theft and hacking for gaining access to the job- search firm’s proprietary database of executives.
Terry Lundgren, chief executive officer of Macy’s Inc., said he was so upset when Martha Stewart called to tell him about her company’s deal to sell products at J.C. Penney Co. stores that he hung up on her and hasn’t spoken with her since.
Paulson & Co. executives were sued for alleged conflicts in the handling of intellectual property assets in the bankruptcy of a group of resorts including Miami’s Doral golf course, where Tiger Woods won his 76th PGA Tour event last month.
Martha Stewart Living Omnimedia Inc. persuaded a judge to reject a “secondary” claim in a breach-of-contract lawsuit by Macy’s Inc. over the exclusive right to sell Martha Stewart-branded products in its stores.