American Apparel Said to Pay Interest as CEO Crisis Eases

American Apparel store | Source: Reuters

American Apparel Inc., which was threatened with default after the ouster of Chief Executive Officer Dov Charney in June, plans to take another step toward stability today by paying interest on its bonds, according to people familiar with the situation.

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The Global Business of Secondhand Clothes Thrives in Kenya

Gikomba market in Nairobi | Source: Reuters

Shaded by ragged squares of canvas, amid choking dust and the noise of hawkers, shoppers in Nairobi’s Gikomba market can turn up Tommy Hilfiger jeans or a Burberry jacket for a fraction of the price in London’s Regent Street or New York’s Fifth Avenue.

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LVMH Revenue Growth Matches Estimates as Europe Offsets Asia

Louis Vuitton store on the Champs-Elysees, Paris | Source: Shutterstock

LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury-goods maker, reported third-quarter revenue that met analysts’ estimates as improved growth in Europe and the U.S. compensated for slowdown in Asia.

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