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$TIME said The Foundry will be led by Jen Wong, President, Time Inc. Digital. Alan Murray, editor of Fortune, will succeed Norman Pearlstine as Chief Content Officer. All of $TIME's US brands will now report to Rich Battista as EVP, Time Inc. and President, Brands. Evelyn Webster, who was EVP will leave at Aug.-end.
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.