Three financial institutions together are preparing to sell more than $4 billion of debt eligible for financing under the Federal Reserve's Term Asset-Backed Securities Loan Facility. Bank of America Corp., SLM Corp. and AmeriCredit Corp. are the companies participating, Bloomberg News reported.
Retailers including Macy's and Bergdorf Goodman are discounting more than in previous summers even though they have less inventory than before. U.S. consumers continue to stick to purchasing necessities because they remain worried about unemployment and the economy.
Britain's commercial-property market is showing signs of recovery, but for most firms that doesn't mean the battle for survival is over, analysts say. For the most desirable properties, values are stabilizing. But for everything less than the cream-of-the-crop assets, property values are still declining, although not as fast as they did last year.
Retailers are closely monitoring back-to-school sales. At J.C. Penney, for one, sales in states such as Florida and South Carolina, where the school year starts early, will inform inventory elsewhere, and back-to-school sales will determine holiday inventory.