Bloomberg (08/14/14) Michelle Jamrisko
The number of people applying for unemployment benefits in the week ended Aug. 9 rose by 21,000 to 311,000, the highest in six weeks, according to the U.S. Department of Labor. The 48 economists surveyed by Bloomberg had forecast claims of 295,000. The four-week moving average of new claims rose by 2,000 to 295,750.
Buyers of a business generally expect sellers to be responsible for certain liabilities relating to when the seller owned its business—a concept mergers and acquisitions professionals refer to as indemnification. Indemnification is one of the most heavily negotiated, and potentially most significant, provisions of a purchase agreement, and understanding the terminology common to such agreements is essential when negotiating a deal. Attorney Paul Pincus of Ortoli Rosenstadt LLP explains what sellers are liable for, how a seller’s liability may be limited, and how buyers may seek to fund potential indemnity claims.
Wall Street Journal (08/13/14) Ben Leubsdorf
Sales at U.S. retailers were unchanged in July, according to the U.S. Department of Commerce, as sales fell at auto dealers and department stores but rose at clothing and grocery stores. Sales have slowed since the spring, when they spiked following a harsh winter across much of the U.S. The spending slowdown runs counter to the robust labor market, which has seen U.S. companies over the last six months hire at the fastest pace since 2006. Anemic paychecks may be one reason consumers are restraining their spending.
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