Legal

The National Retail Federation welcomed President Obama's proposal for business tax reform as a positive step toward fundamental reform of the U.S. tax code, and pledged to work with the White House and Congress to win passage of legislation that would significantly lower rates in order to help retailers and other businesses create jobs.

While rumors of Barneys imminent restructuring began swirling in early February, it's not the first time such chatter has made the rounds in recent years. When thinking about restructuring strategies and tactics in retail businesses, start with the following question: Does the customer still care about this business model?

Apple's main manufacturing partner in China, Foxconn, is paying workers up to an extra 25 percent following widespread criticism of its labor practices.

In the ongoing news of worker abuse and suicide at Apple's top eight suppliers in China, with Foxconn Technology Group's factories most prominent in the glaring international spotlight, the Fair Labor Association (FLA) has begun its on-site inspections of conditions at factories at Apple's behest, and the initial reports are better than expected.

Martha Stewart Living Omnimedia is "essentially holding Macy's hostage" by saying that its pact with the department store chain expires in January 2013, Macy's said in court papers in their contract dispute.

It was just a few weeks ago that Governor Bob McDonnell announced that Amazon had agreed to open two fulfillment centers in Virginia, investing a total of $135 million, creating more than 350 jobs in Chesterfield and Dinwiddie Counties. The deal reportedly included more than $4 million in state aid to the online giant.

The board of the Port Authority of New York and New Jersey will be presented with a $1.25 billion joint venture deal for Australian developer Westfield Group to lease retail space at the World Trade Center.

An activist group plans to hold demonstrations at Apple retail stores around the world today, with a main gathering at Apple's Grand Central Terminal location, to highlight claims of worker abuse by the iPhone maker's overseas component suppliers.

Shoppers in San Francisco will have to pay 10 cents per bag and more retailers are now banned from handing out plastic bags under a proposal approved Feb. 7 by the city's Board of Supervisors. San Francisco already bans large grocery stores and chain pharmacies from using plastic bags, which are blamed for clogging landfills and waterways.

Barneys New York is in talks with its lenders about restructuring. The development doesn't bode well for the 89-year-old department store, which is owned by Istithmar World, the investment arm of government-owned Dubai World.