Lululemon: Downward dog not required for returns
NEW YORK (AP) â¿¿ No "downward-facing dog" is required.
Lululemon said Wednesday that no demonstrations of yoga or any other positions are needed to return the pricey black yoga pants that the company pulled from shelves last week after finding that they were too sheer.
The Vancouver-based yoga gear maker's statement comes a day after a New York Post report that was widely circulated by the media recounted one woman's tale of being asked by sales staff to bend over to prove that the yoga pants she was trying to return were sheer.
Wal-Mart says loss likely from bribery probe
NEW YORK (AP) â¿¿ Wal-Mart Stores Inc. said it is 'probable' that the world's largest retailer will incur a loss due to ongoing bribery investigations by itself and government agencies, but it says it is too early to speculate on the size of the damage.
The company said it does not currently expect the loss to be material. The statements came in a filing with the Securities and Exchange Commission filing late Tuesday.
Wal-Mart Stores has been dealing with allegations that surfaced last April that it failed to notify law enforcement that company officials authorized millions of dollars in payments in Mexico to speed up getting building permits and gain other favors. The Foreign Corrupt Practices Act forbids American companies from bribing foreign officials.
Credit Suisse buys Morgan Stanley wealth unit
GENEVA (AP) â¿¿ Credit Suisse Group will buy Morgan Stanley's wealth management businesses in Europe, the Middle East and Africa, but not in Switzerland.
Switzerland's second-largest bank says it is acquiring $13 billion in assets mostly belonging to wealthy people across Europe, but it didn't disclose further details.
With one of the world's biggest private banking operations, Credit Suisse has been overhauling its investment banking division and merging its private banking and wealth management arms to cut costs and satisfy regulators.