Ann said that the 100 positions being eliminated are a combination of those held by employees and open positions, with most at its New York headquarters. The positions being eliminated represent about 10 percent of the company's corporate workforce.
The company said its job cuts are part of a strategic realignment of its business that is expected to result in annual operating savings of about $25 million.
Revival for Japan's tsunami wrecked fishing ports
TONI, Japan (AP) — A number of businessmen are trying to bring the fishing industry back to Japan's northeastern coast, three years after a disastrous tsunami hit.
The government says nearly two-thirds of damaged land has been salvaged and 78 percent of fishery processing restarted in the region. But for the majority, sales are well below pre-disaster levels. They face an array of obstacles to setting up shop. And most damaged stores and other businesses are operating from temporary quarters such as shipping containers and prefabricated huts.
The 2011 earthquake and tsunami triggered a nuclear disaster that contaminated chunks of the coast with radiation and killed 18,520 people.
Pinkberry co-founder gets prison in LA assault
LOS ANGELES (AP) — A co-founder of the frozen yogurt chain Pinkberry has been sentenced to seven years in prison for beating a homeless man with a tire iron in Los Angeles.
Forty-nine-year-old Young Lee, who is no longer affiliated with Pinkberry, was sentenced to the maximum term Friday.
A jury convicted Lee of assault with a deadly weapon last November and the judge declared him to be a significant threat to the community.
Prosecutors said Lee confronted the man after the transient flashed a sexually explicit tattoo to several people in Lee's car, including his fiancee. The man was struck twice on the head and suffered a broken arm before witnesses stopped the attack.
Rule targets for-profit colleges over student debt
WASHINGTON (AP) — The for-profit college industry says it will vigorously oppose proposed regulations by the Obama administration designed to protect students at for-profit colleges from amassing huge debt they can't pay off.
The regulations would penalize career-oriented programs that produce graduates without the training needed to find a job with a salary that will allow them to pay off their debt. If finalized, the regulations would take effect in 2016.
Schools, for-profit or not, that don't comply would lose access to the federal student aid programs.
The industry argues that the regulations would have a long-term impact on the nation's ability to address workforce demands and improve the economy.
By The Associated Press=
The Dow Jones Industrial average slid 43.22 points, or 0.3 percent, to close at 16,065.67. The S&P 500 index fell 5.21 points, or 0.3 percent, to close at 1,841.13. The Nasdaq composite dropped 15.02 points, or 0.4 percent, to 4,245.40.
Benchmark U.S. crude for April delivery rose 69 cents to close at $98.89 a barrel on the New York Mercantile Exchange. Wholesale gasoline rose 3 cents to $2.96 a gallon. Heating oil rose 2 cents to $2.94 a gallon. Natural gas added 4 cents to $4.43 per 1,000 cubic feet. Brent crude, used to set prices for international varieties of crude, rose $1.18 to $108.57 on the ICE Futures exchange in London.