Consumer Affairs & Relations

New York City -- A Tuesday report by Bloomberg said that J. Crew Group is close to settling a shareholder lawsuit over its proposed $3 billion takeover by private-equity firms TPG Capital and Leonard Green & Partners LP.

Citing two unnamed sources, the report said that as part of the settlement, J. Crew would extend the period to solicit competing offers until Feb. 15 and add provisions that make it easier to accept a rival bid.

CUPERTINO, Calif. -- Steve Jobs, CEO of Apple Inc., has taken a medical leave of absence, Apple announced Monday.

According to an SEC filing, Jobs will remain involved in major strategic decisions during this leave of absence, and COO Tim Cook will be responsible for Apple's day-to-day operations. 

In a letter to company employees, Jobs wrote, "I love Apple so much and hope to be back as soon as I can. In the meantime, my family and I would deeply appreciate respect for our privacy."

Talk about favorable media coverage. CNBC aired a one-hour special last week called “Target: Inside the Bullseye,” that served as more of a glowing endorsement of the company than the probing documentary implied by the title.

AMSTERDAM — Former Ahold senior executive Albert Heijn, who helped lead the overhaul of the Dutch-based supermarket giant in the 1960s and 1970s, died peacefully last week at his home in the United Kingdom, the company announced. He was 83.

New York City -- J. Crew Group received no rival bid during a solicitation period and will stick with its nearly $3 billion buyout offer made by two private equity firms in November, according to Reuters. J. Crew agreed in November to be taken private by the two firms. It was able to solicit higher bids until Saturday.

New York City -- The shareholders of South African Massmart chain have overwhelmingly accepted Wal-Mart's offer to buy 51% of their company, the chief executive said Monday, paving the way for Wal-Mart to enter Africa.

Massmart said the proposal was approved by 97% of shareholders who voted Monday -- 75% approval had been needed. Wal-Mart offered 148 rand (about $20) per share in a 17 billion rand (about $2 billion) deal.

The deal will have to be approved by South Africa's anti-monopoly regulators.

MATTHEWS, N.C. -- Family Dollar Stores announced that it has named Paul White to the position of SVP apparel, home and seasonal.  White will report to Dorlisa Flur, EVP and chief merchandising officer.

Washington, D.C. -- Import cargo volume at the nation’s major retail container ports is expected to be up 8% in January over the same month last year, according to the monthly Global Port Tracker report released by NRF and Hackett Associates.