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Kenyan retailer Nakumatt is in talks with South Africa's Shoprite to buy its three stores in Tanzania as it moves to secure a bigger share of a large, untapped market. Retail is a red hot sector in Africa thanks to a consumer base of 1 billion people gaining increasing spending power from robust economic growth. The sector is typified by... Read more... Read more...
By Daniel Lovering BOSTON (Reuters) - Convicted gangster James "Whitey" Bulger and his girlfriend, Catherine Greig, exchanged love letters on a legal pad provided by a defense attorney who visited them in prison before the mobster went on trial last year, local media reported on Friday. Defense attorney J.W. Carney told a meeting of Massachusetts defense lawyers this week that he offered the pad to Bulger at a correctional facility in... Read more...
By Phil Wahba NEW YORK (Reuters) - Many large U.S. retailers slashed their earnings forecasts on Thursday because of steep discounts they offered during the holidays to persuade reluctant consumers. The discounts boosted overall industry sales but hurt profits at many chains, including L Brands Inc , Family Dollar Stores Inc and teen retailer Zumiez Inc . Even retailers that reported big sales gains, like Kay Jewelers parent Signet Jewelers Ltd... Read more... Read more...