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Timberland owner $WY said it has completed the sale of its liquid packaging board business to Nippon Paper Industries for $285MM. Company expects to use a big portion of the after-tax proceeds of about $225MM for repayment of debt. The business sold consists of one mill located in Longview, Washington.
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.