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Beauty products company $AVP said that it has completed the separation of its North America business into a privately-held company and closed its strategic partnership transaction with Cerberus Capital Management, L.P. The business was majority-owned and managed by an affiliate of Cerberus. The business will now operate under the name New Avon LLC.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.