Financial
Online shopping popular, but won't save season PDF  | Print |  E-mail
Written by MAE ANDERSON, AP Retail Writer   
Sunday, 22 December 2013 07:58

ATLANTA (AP) — More Americans are deciding to shop online this holiday season instead of heading to crowded stores.

But that alone won't save what is turning out to be a ho-hum Christmas for department stores and clothing chains.

Online sales have surged 9 percent so far this holiday season as Wal-Mart, Macy's and other retailers improved their web sites and prices to better compete with their online nemesis Amazon.com. Meanwhile, shopping at physical stores is up just 2 percent.

Still, it's estimated that for every $9 shoppers spend in physical stores during the two-month season that ends on New Year's Eve, they'll only spend $1 online, according to research firm comScore.

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Bangladesh factory owners charged in deadly fire PDF  | Print |  E-mail
Written by JULHAS ALAM, Associated Press   
Sunday, 22 December 2013 07:55

DHAKA, Bangladesh (AP) — Police charged the owners of a Bangladeshi garment factory and 11 employees with culpable homicide Sunday for alleged negligence leading to the death of 112 workers in a raging fire that engulfed the factory last year.

It was the first time Bangladeshi authorities had sought to prosecute factory owners in the world's second-largest garment industry. A series of recent deadly disasters — including the Nov. 24, 2012, fire and a factory collapse in April that killed more than 1,100 workers — exposed how harsh and often unsafe conditions can be for many of the country's 4 million workers providing clothing to major Western retailers.

Public Prosecutor Anwarul Kabir Babul said the 13 people charged Sunday could face life in prison if convicted of failing to ensure safety at the sprawling Tazreen Fashions Ltd. factory, located outside Dhaka, the capital.

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Vegas mortgage fraud scheme mastermind sentenced PDF  | Print |  E-mail
Written by Associated Press   
Sunday, 22 December 2013 07:56

LAS VEGAS (AP) — The mastermind of a Las Vegas mortgage fraud scheme has been sentenced to just over 11 years in prison.

U.S. District Judge Gloria Navarro handed down the sentence Wednesday to 60-year-old Lloyd Gardley, who pleaded guilty in August to conspiracy and fraud charges.

Gardley was ordered to serve five years of supervised release following his prison term and to pay over $1.4 million in restitution.

U.S. Attorney for Nevada Daniel Bogden says Gardley was considered to the leader of a scheme that caused about $15 million in losses to lenders and financial institutions.

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Businessman, Jewish advocate Bronfman dies PDF  | Print |  E-mail
Written by Associated Press   
Sunday, 22 December 2013 07:31

NEW YORK (AP) — Edgar M. Bronfman Sr., the billionaire businessman and longtime president of the World Jewish Congress, which lobbied the Soviets to allow Jews to emigrate and helped spearhead the search for hidden Nazi loot, died Saturday. He was 84.

The Canadian-born Bronfman died at his New York home surrounded by family, according to the family charity he led, The Samuel Bronfman Foundation.

Bronfman made his fortune with his family's Seagram's liquor empire, taking over as chairman and CEO in 1971 and continuing the work of his father, Samuel. Under Bronfman's leadership, Seagram expanded its offerings and was eventually acquired by French media and telecom group Vivendi Universal in 2000.

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