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MAY 10, 2016 - Business Insider

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The CEO of fintech company Lending Club is stepping down, and that sent the stock crashing (LC)

Lending Club CEO Renaud Laplanche is stepping down from his position with the company after an internal review. Shortly after markets opened Monday morning shares of the company were down as much as 26%.  In a statement Monday morning, Lending Club said Laplanche would step down after "an internal review of sales of $22 million in near-prime loans to a ...

Tags: The CEO of fintech company Lending Club is stepping down, and that sent the stock crashing (LC),  Company Latest News

MAY 10, 2016 - Wall Street Journal

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Potential Buyer Emerges for Stake in Sotheby's

Sotheby’s reported a deeper-than-expected first quarter loss, but its shares rose as the auction house said an investor may lift its stake in the company “to at least 10%.”

Tags: Potential Buyer Emerges for Stake in Sotheby's,  Company Latest News

MAY 10, 2016 - Yahoo! News

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Lending Club CEO resigns after internal probe, shares plummet

By Michael Erman and Joy Wiltermuth (Reuters/IFR) - Renaud Laplanche, founder and chief executive of online lender Lending Club Corp, resigned after an internal probe found that the company had knowingly sold an investor $22 million of loans that the investor did not want, the company said on Monday. Lending Club is by far the largest of the so-called marketplace ...

Tags: Lending Club CEO resigns after internal probe, shares plummet,  Company Latest News

MAY 10, 2016 - Los Angeles Times

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Nazarian's SBE agrees to buy Morgans Hotel Group

Sam Nazarian's hotel and nightclub company has announced plans to acquire a boutique hotel company, Morgans Hotel Group, in an all-cash deal worth $794 million. Nazarian, who started as a nightclub mogul in Los Angeles, is the majority owner of SBE and will retain day-to-day operations after the...

Tags: Nazarian's SBE agrees to buy Morgans Hotel Group,  Company Latest News

MAY 10, 2016 - Wall Street Journal

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Gap Sales Slide; Company Looks to Streamline

Gap Inc. warned of weak sales across its brands and said it would take steps to streamline its business, including evaluating its Banana Republic and Old Navy operations outside North America.

Tags: Gap Sales Slide; Company Looks to Streamline,  Company Latest News