Teen retailer Forever 21 turns to outside investors for $150M loan

Teen fashion retailer Forever 21 Inc is not seeing enough growth and is turning to Wells Fargo & Co. and TPG for a $150-million-loan aide. For over a dozen years, this fast-growing retail store has won the hearts of young shoppers and wiped out rivals with its trendy fashion and affordable prices, with $7.90 jeans and $8.90 cardigans. But lately, there are reports that the company is struggling to fill productivity.


Calpers and Calstrs oppose amendment in Bylaws at Bank of America to combine CEO, chairman role

Two giant public pension funds joined forces to oppose corporate bylaw changes at the Bank of America Corp that would make Brian Moynihan both chief executive and chairman.

Foxconn Technology denies termination of $1B investment in Indonesia

Foxconn, the electronics company headquartered in Taiwan, has pulled out $1B investment to Indonesia, rumors have it. But according to a report, Foxconn claims they haven't cancelled it yet.

Greece elections: Clear mandate holds the key on $96-bn bailout package

Greece is set for elections on 20 September this year. Judge Vassiliki Thanou is the care taker Prime Minister till the new government is formed. Thanou was sworn in on last Friday and became the first female Prime Minister for Greece.


Latest News

Despite its compact Civic sedan, which has compressed natural gas (CNG)-fueled powertrain, being discontinued earlier in 2015, Honda has just opened its first CNG refuelling station at its campus in Marysville, Ohio.
Hydrogen fuel cell maker claims it can make an iPhone 6 battery life last for a week. Intelligent Energy which is a British hydrogen fuel cell maker and a green energy company said it's not theoretical, far-off dream and claimed to have built a battery that definitely fits an iPhone6 and requires no charging of up to seven days.
One of Ireland's richest persons, John P. McManus, seeks $5.2 million from the U.S. government after it was wrongfully withheld from his $17.4 million gambling winnings to cover taxes.
Giant U.S. discount department store KMART Corp. paid $1.4 million for violating the False Claims Act by illegally using promotional materials to convince Medicare beneficiaries to fill prescriptions at its pharmacies, said the U.S. Justice Department Tuesday.
Slumping oil prices take its toll on the Canadian economy. Canada is now officially in a recession for the first time in six years, as crude prices plummet due to supply glut and falling global demand, particularly from China.
Valeant Pharmaceuticals, Inc. of Canada has partnered with AstraZeneca for the selling rights of psoriasis drug brodalumab. Amgen Inc. ended its partnership with AstraZeneca due to its worries over the drug's side effects.
After launching Android Wear back in March 2014 and seeing how Apple watch sales performed after their release, Google had decided to release an app that will allow their smartwatch that is already in the market to perform a twist. Android Wear will be iOS compatible.
A study conducted by Interpol and the United Nations said that only 33% of Europe's electronic wastes is correctly recycled. A large number of these electronic wastes include computers, cellphones and televisions that are dumped or traded illegally.
Several measures gauging the manufacturing industry activity are showing discouraging results. The latest manufacturing gauging index slipped below 50, which indicates the deceleration in the manufacturing industry, falling to 49.7 in August.
A group of wealthy internet entrepreneurs and investors in China are putting their money on NextEV, a rival to U.S. electric car manufacturer Tesla Motors Inc.
Real Time Analytics