Billionaire investor Wilbur Ross is expected to be easily confirmed as U.S. Commerce Secretary on Monday, clearing President Donald Trump’s top trade official to start work on renegotiating trade relationships with China and Mexico. The vote will insert a major new voice into Trump’s economic team, one that strongly influenced his criticism of the North American Free Trade Agreement and a now-scrapped Asia-Pacific trade deal.
Category: Irvine, CA
Banc of California Tumbles as CEO Resigns, SEC Begins Probe
Banc of California Inc. tumbled the most since October after Chief Executive Officer Steven Sugarman resigned and U.S. regulators opened an investigation into whether the firm misled investors in its fight against a short seller. A team of executives will temporarily take over Sugarman’s duties while the firm searches for a replacement, the Irvine, California-based company said Monday in a statement.
ThreeSixty to Acquire Sharper Image From Iconix
Private equity-backed consumer products company ThreeSixty Group will pay $100 million for the quirky gift retailer in its second sale outside of Chapter 11. ThreeSixty Group on Friday said it had agreed to purchase the Sharper Image brand from Iconix Brand Group in the hopes that it can revamp the struggling gadget maker. The Irvine, Calif., consumer products company will pay $100 million in cash for the rights to the brand and related intellectual property assets of the specialty gifts retailer.