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Jul 13, 2013

Bell tolls 50 times for Quebec dead in train disaster

LAC-MEGANTIC, Quebec, July 13 (Reuters) – A week after the
heart of the Quebec village of Lac-Megantic was devastated in a
fireball in one of the worst train accidents in Canadian
history, the St. Agnes church bell rang 50 times on Saturday,
once for each person believed to have perished.

Eight seconds intervened between each bell, then a minute of
silence, after which 12 white doves were released from the steps
of the 92-year-old church in an emotional midday ceremony.

Jul 13, 2013

Quebec town marks deadly train crash with vigil, church bells

LAC-MEGANTIC, Quebec, July 13 (Reuters) – A week after their
town was devastated by one of the worst train accidents in
Canadian history, residents of Lac-Megantic, Quebec, began
commemorating their dead, holding a tearful candlelight vigil
and tolling the bells of the local church.

Dozens of people from the town and area gathered at the
Paroisse de Ste-Agnes church on Friday evening to pray and
remember an estimated 50 people killed after a train hauling
crude oil jumped the track and exploded into flames there last
Saturday.

Jul 12, 2013

Quebec town takes small steps to normalcy after train disaster

LAC-MEGANTIC, Quebec (Reuters) – Shell-shocked residents of Lac-Megantic, Quebec, took small steps on a long path back to normalcy on Friday as they returned to homes and businesses just a short walk from the lakeside town’s center, devastated by a fiery rail crash last week.

The town’s main church, Paroisse de Ste-Agnes, opened its doors to mourners, allowing them to drop off pictures, flowers and notes for the estimated 50 people killed.

Jul 12, 2013

Quebec crash probe to transform rail sector, official says

LAC-MEGANTIC, Quebec, July 12 (Reuters) – The way the
railway industry does business in Canada will be transformed by
the Transportation Safety Board’s investigation into the deadly
train derailment that demolished the heart of the Quebec town of
Lac-Megantic, TSB investigator Glen Pilon said on Friday.

In the wake of the crash, the main areas the TSB, an
arm’s-length federal government agency, is looking at are train
braking systems, the durability of tanker cars and crew-size
requirements, Pilon said. Policy recommendations will result, he
added.

Jul 9, 2013

Analysis: Departure of Barnes & Noble CEO may put focus on retail

NEW YORK (Reuters) – The sudden resignation on Monday of Barnes & Noble Inc’s (BKS.N: Quote, Profile, Research, Stock Buzz) chief executive could indicate the struggling bookseller is closer to breaking up and returning to basics: bookstores.

William Lynch, who became CEO in 2010 to take on Amazon.com Inc (AMZN.O: Quote, Profile, Research, Stock Buzz) in the e-books wars, quit on Monday just two weeks after the company reported a 34 percent drop in revenue in its Nook business, a venture he spearheaded that has cost Barnes & Noble hundreds of millions of dollars. His departure was somewhat of a surprise to investors because he signed a two-year contract renewal in March.

Jul 9, 2013

Departure of Barnes & Noble CEO may put focus on retail

NEW YORK, July 9 (Reuters) – The sudden resignation on
Monday of Barnes & Noble Inc’s (BKS.N: Quote, Profile, Research) chief executive could
indicate the struggling bookseller is closer to breaking up and
returning to basics: bookstores.

William Lynch, who became CEO in 2010 to take on Amazon.com
Inc (AMZN.O: Quote, Profile, Research) in the e-books wars, quit on Monday just two weeks
after the company reported a 34 percent drop in revenue in its
Nook business, a venture he spearheaded that has cost Barnes &
Noble hundreds of millions of dollars. His departure was
somewhat of a surprise to investors because he signed a two-year
contract renewal in March.

Jun 27, 2013

Nike profit rises, North American orders jump

By Phil Wahba

(Reuters) – Nike Inc (NKE.N: Quote, Profile, Research, Stock Buzz) on Thursday posted a higher quarterly profit and said advance orders for its clothes and shoes had jumped, particularly in North America.

Shares were up 3.2 percent to $64.30 in after-hours trading.

Orders for Nike-branded shoes and clothing scheduled for delivery between June and November 2013, a gauge of demand Nike calls “futures orders,” rose 8 percent globally.

Jun 27, 2013

U.S. fines Macy’s over treatment of immigrant workers

By Jonathan Stempel and Phil Wahba

(Reuters) – Macy’s Inc (M.N: Quote, Profile, Research, Stock Buzz) has agreed to pay a $175,000 civil fine and improve its practices to resolve a U.S. government probe that found the retailer had discriminated against immigrant employees when verifying their eligibility to continue to work.

The U.S. Department of Justice on Thursday said Macy’s had engaged in “unfair documentary practices” against some immigrant employees who had previously been authorized to work.

Jun 25, 2013

Barnes & Noble retreats from tablet wars as Nook sales plummet

By Phil Wahba

(Reuters) – Barnes & Noble Inc will stop manufacturing its own Nook tablets, marking the end of its expensive attempt to compete alone with deep-pocketed rivals Amazon.com Inc, Apple Inc and Google Inc in the tablet wars.

The top U.S. bookstore chain reported another quarter of dismal results on Tuesday, led by a 34 percent drop in sales of Nook devices and e-books business, and said it expects sales to continue to decline this fiscal year at its bookstores.

Jun 25, 2013

Barnes & Noble says Nook, retail sales plunge, more pain coming

By Phil Wahba

(Reuters) – Barnes & Noble Inc (BKS.N: Quote, Profile, Research, Stock Buzz) reported on Tuesday that its quarterly net loss more than doubled as sales of its Nook device and e-books continued to plunge, and it forecast a sharp drop in business at its bookstores.

Shares were down 7.5 percent at $17.40 in premarket trading.

Revenue of its Nook business, including e-books and devices, fell 34 percent as it sold fewer e-readers and tablets and slashed prices.

    • About Phil

      "Phil Wahba joined Reuters in 2008 and has covered the exchanges, equity capital markets (IPOs), corporate bankruptcies and now covers retailers such as department stores and booksellers."
      Joined Reuters:
      2008
      Languages:
      English, French, Spanish, German and Danish.
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