Macy's will lay off 2,500 workers but hire others as it aims to save $100 million a year.
The move comes a week after U.S. rival Revlon pulled out completely from the slowing China market.
Tests show product contains DNA of other animals, putting retailer's reputation for quality at risk.
Shoemaker's chief executive to step down in May following $200 million investment.
Comes as company reviews capital allocation in face of investor pressure.
Deal will expand leading U.S. candy maker's business in China.
Says global orders for merchandise for delivery by April up 13%.
Appointment of luxury-industry veteran follows shareholder criticism of auctioneer's management.
Billionaire Malaysian businessman's plan to list English Premier League soccer club in Malaysia thwarted by regulators.
Online retailer's chief executive says Amazon Prime Air could be delivering packages this way by 2015.
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