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NEW YORK (AP) — The one-time bookselling giant Barnes & Noble is being acquired by a hedge fund for 6 million.The national chain that many blamed for the demise of independent bookstores has been ravaged by Amazon.com and other online sellers. Independent bookstores have also persisted in the face of digital publishing.The company said in October that it might put itself up for sale after it was approached by a number of potential buyers, including founder Leonard Riggio who opened Barnes & Noble stores across the country and turned it into a superstore.Barnes & Noble said Friday that it's being acquired by Elliott Management for .50 per share, an approximately 9% percent premium to the company's Thursday closing stock price. Elliott bought the U.K. bookseller Waterstones in June 2018.Waterstones CEO James Daunt will also take on the role of CEO at Barnes & Noble.The sale, valued at about 3 million including debt, is targeted to close in the third quarter if approved by regulators and shareholders.Shares of the New York company jumped 11% before the opening bell. 1111

Nine West Holdings, which owns the Nine West and Anne Klein brands, has filed for bankruptcy.Friday's chapter 11 filing shows that the company owes more than billion.Nine West said in a statement that it plans to sell Nine West and its Bandolino line to Authentic Brands Group. ABG owns Juicy Couture and Aéropostale, among others.The company's eponymous brand and Bandolino both sell women's shoes, handbags and accessories.Ralph Schipani, the struggling retailer's CEO, said that the restructuring will help the company reduce debt and increase growth by allowing it to focus on its stronger brands, like Anne Klein and One Jeanswear Group."This is the right step," Schipani said. "We will retain our strong, profitable and growing apparel, jewelry, and jeanswear businesses." He added that the changes should help the company to "be well positioned for the future."Nine West said it expects to continue operating normally during the bankruptcy process.The company, which has been owned by Sycamore Partners Management since 2014, joins a growing list of retailers that have filed for bankruptcy this year. Claire's filed for bankruptcy last month, and Toys "R" Us in September. The toy seller said recently that it is closing or selling all of its US stores.Last year, more than 7,000 stores closed, which set a record.Retailers have been struggling to compete with online retailers like Amazon, and suffering from the death of the mall. Many have also struggled to survive under mountains of debt.The-CNN-Wire 1524

NEW YORK (AP) — This year’s Black Friday was the biggest ever for online sales, as fewer people hit the stores and shoppers rang up .4 billion in transactions from their phones, computers and tablets.That’s just behind the .9 billion haul of last year’s Cyber Monday, which holds the one-day record for online sales, according to Adobe Analytics. Adobe measures sales at 80 of the top 100 U.S. online retailers.Adobe expects online sales to jump to another record this Cyber Monday with an estimated total of .4 billion. Much of the shopping is happening on people’s phones, which accounted for 39% of all online sales Friday and 61% of online traffic.Shoppers have been looking for “Frozen 2” toys in particular. Other top purchases included sports video games and Apple laptops.All the online shopping may have helped thin the crowd at malls on Black Friday.Traffic at stores fell 2.1% on Black Friday from a year ago, according to preliminary figures from RetailNext. It tracks in-store activity at tens of thousands of locations, including specialty apparel retailers, big-box stores and mall-based stores. The drop in traffic helped lead to a 1.6% dip in sales.Online and in-store shopping aren’t always completely separate, though. Many people buy things online, only to head to the store to pick them up. Such sales surged 43.2% on Black Friday from a year ago, according to Adobe.This holiday shopping season may be the most harried in years because it’s the shortest since 2013. Thanksgiving this year fell on the last Thursday in November — the latest possible date it could be.Much is riding on the success of the holiday season’s sales. The U.S. economy is still growing steadily, but gains have slowed since its sizzling start to the year. Economists say strong spending by households is helping to bolster growth and make up for weak confidence among businesses given all the uncertainties about the U.S.-China trade war and other factors. 1967

NEW YORK — Prosecutors on Tuesday charged 18 alleged gang members — including rapper Casanova — in connection with various racketeering, murder, narcotics, firearms and fraud offenses, officials said.Prosecutors added that Casanova is the only one of the 18 — who were allegedly a part of the Untouchable Gorilla Stone Nation gang — that was not in custody as of Tuesday. The FBI is still searching for the rapper, whose real name is Caswell Senior, and the agency believes he may be in the Atlanta area.Officials charged Brandon Soto in connection with the Sept. 21 murder of a 15-year-old minor in Poughkeepsie. The accused individuals also allegedly defrauded COVID-19 economic assistance programs, acting U.S. Attorney Audrey Strauss said."Because of that, communities across the Southern District (of New York) – from Poughkeepsie to Peekskill to New York City — suffered," Strauss said.The alleged crimes span a wide swath of New York: on June 12, Naya Austin, Dezon Washington and Jordan Ingram allegedly robbed a rival drug dealer at gunpoint in Peekskill; on July 20, Stephen Hugh allegedly shot at rival gang members in New Rochelle and on Aug. 28 of 2018, Brinae Thornton allegedly shot at a rival gang member in Brooklyn.Casanova is currently signed to Roc Nation, the label founded and operated by Jay-Z, in 2008. He released his first studio album in 2019 and has collaborated with artists like Jeremih, Chris Brown and DMX.This story was originally published by Aliza Chasan on WPIX in New York City. 1523

New Evidence Suggests North Korea has a Naval Marine Mammal Program - USNI Newshttps://t.co/LPXTOXVWJ0 pic.twitter.com/m7lA3eemnZ— U.S. Naval Institute (@NavalInstitute) November 12, 2020 195