International Business

New York -- Authentic Brands Group, a global brand development and licensing company, announced an agreement with Reliance Brands Limited (Reliance) to bring casual luxury lifestyle brand Juicy Couture to India in fall 2015.

Toano, Va. – Lumber Liquidators is promoting Ray Cotton to senior VP, chief compliance and sustainability officer. Cotton, previously VP, chief compliance and sustainability officer, will continue to manage Lumber Liquidators' quality assurance, sustainable sourcing, loss prevention, risk management and compliance with legal and regulatory requirements of global trade.

San Jose, Calif. – eBay Inc. is reversing course on its previous decision to keep its fast-growing online payments business PayPal as part of the company, and is instead spinning the unit off as a separate publicly traded company. The decision will generate $180 million for activist investor Carl Icahn, who attempted to force eBay to spin off PayPal in a public dispute earlier this year. It comes as the payments sector is heating up and generating increased interest as Apple gets set to launch its Apple Pay mobile payments service.

Cupertino, Calif. – Following an investigation launched in June, the European Union (EU) is reportedly formally accusing the Republic of Ireland and Apple of striking an improper deal that has kept Apple’s taxes in Ireland artificially low since 1991. According to CNN, the arrangement has allowed Apple to pay a tax rate as low as 2% on earnings of Irish subsidiary.

Deerfield, Ill. – Walgreen Co. met Wall Street expectations for the fourth quarter of fiscal 2014 despite swinging to a loss. Walgreens posted a net loss of $239 million, largely driven by an accounting charge from its Alliance-Boots acquisition, compared to net earnings of $657 million in the same period a year earlier.

Walgreens recorded a non-cash loss of $866 million in the quarter that ended Aug. 31 because it decided to exercise early its option to buy the remaining stake of Alliance-Boots that it did not already own.

It’s official. Following a strategic review of the company’s growth strategies and structure, the eBay board has approved a plan to separate the company’s eBay and PayPal businesses into independent publicly traded companies in 2015, subject to customary conditions.

Newgistics, a leading provider of end-to-end e-commerce solutions for top retailers and brands, is making it easier for U.S. retailers to access the largest markets overseas — including the U.K., Europe, Asia, Australia, Russia, China and South America — by expanding its parcel delivery and return services and reducing the costs of cross-border delivery.

Key features of Newgistics’ international solution include:
Delivery to 34 key global markets with plans for future expansion
Full end-to-end tracking