International Business

Lowe's is making another round of job cuts.   The home improvement chain is laying off some 125 information technology workers and many of the jobs to India, The Charlotte Observer reported. Lowe’s currently employs approximately 1,000 people in information and technology and analytics in Bangalore, India.   

It appears that L'Oreal has settled on a buyer for The Body Shop.   The French cosmetics giant is in exclusive talks to sell its Body Shop division to Brazilian make-up company Natura Cosmeticos, Bloomberg reported. The reported price: $1.1 billion,   Natura is the largest Brazilian cosmetics company.   The transaction would be subject to regulatory approval and would be expected to close later this year.    

One of the world's largest retailers has appointed a new chief executive as its looks to catch up with the online revolution and shore up its home performance.   Carrefour has named Alexandre Bompard, 44, as its new chairman and CEO, effective July 18, ending an eight-month search. He succeeds Georges Plassat, who has served in the top position at the hypermarket retailer, which operates more than 11,900 stores in over 30 countries, since 2012.   

Amazon’s lending program has hit epic proportions, with one-third of loans being granted in the last year, alone.   The online giant’s Amazon Lending program has surpassed $3 billion in loans to small businesses since the service launched in 2011. Specifically, Amazon has lent more than $1 billion to small businesses in the last 12 months, and more than 20,000 small businesses have received a loan from Amazon.  

India tops an annual list of the 30 top developing countries for retail investment, pushing China, which took the No. 1 spot for the past several years, into second place.  

Williams-Sonoma's West Elm division has tapped a company veteran as its new president.    Alex Bellos, head of Williams-Sonoma's Rejuvenation and Mark and Graham brands, is succeeding Jim Brett as president of the West Elm brand. On Tuesday, Brett announced he was resigning from the company to take a position as CEO of J.Crew.   

Supermodel, designer, TV star and all-around celebrity Heidi Klum is teaming up with an unusual partner.    On the heels of its entry into the United States, German discount grocer Lidl announced its first ever fashion collaboration, with Heidi Klum. The collection, described as high-end yet affordable, will be available exclusively at Lidl and will launch across its stores in Europe and the United States later this year. Collections will be featured at certain times throughout the year, during "Lidl Fashion Weeks.”

Increased online and offline competition is giving arts and crafts leader Michaels Cos. a run for its money.   The company's profit fell 20% to $67 million, or 38 cents a share, in the first quarter ended April 29, down from $85 million, or 34 cents a share, a year ego. Its results missed analysts' expectations.    Total sales were flat at $1.16 billion, also less than expected. Same-store sales fell 1.2%