The Traderszone Network

American Apparel said last week it doesn’t expect to have sufficient funds to keep the business running for the next 12 months, and warned shareholders may lose some or all of their investments. Capital One handed over the credit facility to a syndicate of lenders that includes Standard General LP and had been replaced as a lender by Wilmington Trust, National Association on August 17, American Apparel said.

U.S. safety regulators on Monday said they have directed the U.S. units of Volkswagen AG (VOWG_p.DE) and air bag maker Takata Corp (7312.T) to provide information on the June rupture of a side air bag in a 2015 model VW Tiguan. The late-model Tiguan does not fit the pattern of more than 17 million older-model vehicles with potentially defective Takata front air bags that have been recalled. All of the recalled vehicles are at least five years old and most were made from 2000 to 2007.

The Philadelphia-based retailer reported second-quarter comparable sales growth of 4 percent on Monday, lower than the 4.3 percent rise analysts on average had expected, according to research firm Consensus Metrix. Urban Outfitters’ shares initially rose as much as 10 percent in extended trading after it reported a better-than-expected quarterly profit, but fell nearly 7 percent when Chief Financial Officer Frank Conforti said sales were slower so far in August.

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German Finance Minister Wolfgang Schaeuble said on Monday he had no qualms about urging fellow lawmakers to approve a new bailout for Greece in a parliamentary vote on Wednesday, citing a dramatic change in the Greek government’s readiness to reform. In a robust endorsement that could help Chancellor Angela Merkel’s grand coalition win broad backing for the bailout, Schaeuble said he was confident that the International Monetary Fund, whose imprimatur many lawmakers see as guaranteeing rigorous implementation of budgetary and reform targets, would take part.

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German industrial filter maker Mann + Hummel has agreed to buy U.S. peer Affinia (AFN.N) to boost its annual sales by $1 billion – or by more than a third – and gain access to the American market for heavy-duty and hydraulic filters. Privately-held Mann + Hummel said it would not disclose the terms, but a regulatory filing by Affinia showed the purchase price was $513.1 million. The German firm will also take on debt from Affinia, which stood at $822 million at the end of June.

Shares of Estee Lauder fell as much as 5.3 percent. The company has been focusing on catering to younger customers by offering brands such as Smashbox and Glamglow, as its “heritage” brands Estee Lauder and Clinique lose some shine in North America. Part of the weakness comes from their inability to attract young women, Raymond James analyst Joseph Altobello said.

Reuters reports that China will quicken the payment
of tax rebates for exporters
– The State Administration of Taxation will “quicken the
process of export tax rebates and ensure full tax rebate payment
in a timely manner,” it said in a notice published on its
website
–