Aeropostale wins court approval to sell assets for 243 million
Aeropostale Inc won U S bankruptcy court approval to sell assets to a Simon Property Group General Growth Properties led group for 243 million. The plan aims to keep at least 229 stores open and save about 7000 jobs amid a restructuring that could serve as a template for distressed retailers.
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Markets rebound as Brainard signals cautious policy path
U S stocks recover from a steep rout that shaved about 500 billion from equity value. The S&P 500 posts its strongest gain in two months while the dollar falls and Treasuries steady as Lael Brainard urges prudence in removing accommodation. Emerging markets drop and oil rises past 46 dollars. Brainard notes the economy is improving toward the Fed's goals ahead of next week's meeting.
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