Wet Seal to Close 338 Stores Leaving 3,700 Jobs Lost
Wet Seal will shut 338 stores, about two thirds of its outlets, impacting nearly 3,700 full and part time workers. The move follows failed concessions from landlords and ongoing financial losses. The firm warned of possible bankruptcy protection if cash issues persist after another quarterly loss. Delia's and Deli Stores have filed for Chapter 11.
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New York
Wet Seal
Delia’s Inc
Deli Stores
H&m
Forever 21
U.S. hiring quickens with 241000 jobs added in December
ADP reports private employers added 241000 jobs in December, up from 227000 in November, signaling continued growth. Economists expect the government payroll figure to show about 240000 new jobs and an unemployment rate around 5.8 percent. Manufacturing led gains with 26000 positions, the second-highest monthly total in 2014.
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Washington
U.S
ADP
FactSet
Mobile credit card readers gain ground for small businesses
New York report notes firms like Amazon Etsy Square and PayPal expand mobile card readers for small businesses. Devices plug into phones or tablets offering lower fees than traditional readers, with proponents citing receipts emailed to customers.
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New York
Amazon
Etsy
Square
PayPal
Intuit
Greg Werner
Werner
Manhattan
Eastchester
N.Y
American Express
Todd Ablowitz
Double Diamond Group
Ablowitz
Ruthie Youngman
EPA delays rule to cut carbon from new coal plants
The Obama administration said it will delay finalizing the rule limiting carbon dioxide from new coal power plants until midsummer and pair it with a separate rule targeting existing coal fleet emissions. Senate leader Mitch McConnell pledged to overturn the rules, while EPA notes few new plants are planned and carbon capture tech remains unproven at scale.
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Barack Obama
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McConnell
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Don Stewart
Stewart
Canada
Ford hires ex Allstate ad chief as U.S. marketing head
Dearborn based Ford Motor Co. names Mark LaNeve, former Allstate marketing lead known for the mayhem ads, as vice president of U.S. marketing, sales and service starting Feb 1. He replaces retiring John Felice to reverse Ford's slipping sales amid a flat market.
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Ford Motor Co
Mark LaNeve
General Motors Corp
Ford
LaNeve
John Felice
U.S
Allstate
Global Team
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