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Barnes & Noble Founder and Chairman Leonard Riggio agreed on Wednesday to forgo $29 million from a sale of one of his companies to the book retailer in order to settle a shareholder lawsuit, according to court documents, Reuters reported. The lawsuit goes back to a 2009 agreement by the chain to buy back Barnes & Noble College Booksellers Inc. for $514 million from Riggio. Shareholders sued Riggio, saying the deal overvalued the college bookstores and enriched Riggio, Barnes & Noble’s largest investor, at the expense of shareholders.

Washington, D.C. -- A report released by the Labor Department on Thursday showed that the cost of living in the U.S. dropped in May by the most in three years. The consumer-price index declined 0.3%, more than forecast and the biggest drop since December 2008, after no change the prior month. Economists projected a 0.2% decrease, according to the median estimate in a Bloomberg News survey. The core measure, which excludes food and energy costs, increased 0.2% for a third month. “The drop in the headline is encouraging for the Fed because it shows gasoline prices are less of

New Orleans -- Costco Wholesale Corp. will enter the state of Louisiana with a 148,000-sq.-ft. store at Carrollton Plaza Shopping Center in New Orleans. The new lease, announced by center owner The Feil Organization, will add Costco to a lineup of retailers that includes CVS, Firestone, Family Dollar and Subway. Costco is slated to open spring 2013. "We are very excited about helping to bring Costco to New Orleans and contributing to the area's revitalization,” said Jeffrey Feil, CEO, Feil Organization. "This lease represents a giant step forward for the existing and future retail establishments in New Orleans and

Share This Story Plans to Deploy Online Store Underway Home Health International, Inc. (PINKSHEETS: HHII) announced today that it will expand its medical supply business to include an online store where consumers can purchase a wide range of discounted home and medical supplies. The website build will contain an online catalog and a convenient secure platform for consumers to order medical supplies. The Company is in the final stages of selecting the marketing team to build out the online store and plans to have the new website online within the next 60 days. Home Health International, Inc. recently purchased

Amazon.com has expanded its Prime Instant Video content through a licensing agreement with MGM Studios. The deal brings hundreds of classic movies and TV shows to the 18,000-strong collection, which is available for instant streaming. Notable additions include "Dances with Wolves," "The Terminator" and TV series "Stargate." The Prime Instant Video service is an extension of the existing Amazon Instant Video store, available as part of the company's Prime subscription.

Macy’s, Sephora, Michael Kors and Lancome were ranked as Facebook “geniuses” in the second annual L2 Facebook IQ Index, developed in partnership with Buddy Media, a social enterprise software firm. The index measured the “aptitude” of 100 luxury and prestige brands across beauty, fashion, specialty retail, and watches and jewelry on Facebook. The study — authored by Scott Galloway, New York University professor of marketing, experts from his L2 firm (a think tank for digital innovation) and Buddy Media — ranks the brands’ Facebook efforts across four criteria, including size and growth, engagement, programming, and integration.

Neil Ringel was named EVP at Staples Advantage, the office products company announced Thursday. Ringel previously served as SVP of the Staples Advantage, the business-to-business division of the company focused on serving organizations with more than 20 employees. He joined Staples in 1995 and helped launched the Advantage group. He will replaced Jay Baitler who is retiring after 17 years of leading Staples Advantage. Ringel will report to Joe Dody who serves as president of Staples North American Delivery division. “Neil has demonstrated great leadership at Staples,” said Doody. “He has deep knowledge of the Staples Advantage business and

In a move that will delight web designers and developers everywhere, Australian electronics retailer Kogan has announced that customers using Internet Explorer 7 (IE7) to make purchases will pay a 6.8 percent "IE7 tax." IE7 is the bane of online designers, as it's the least standards-compliant of the current pack. This means that designers need to do separate testing and design changes to make sites appear correctly in all browsers. According to Kogan, that's a quantifiable hard cost that it's no longer willing to pay.