Retail rode Wall Street's roller coaster on Tuesday as the Federal Reserve Board's interest rate cut sent the market zooming. But daily thrill rides aside, the lack of credit could dry up any major deals in the industry for the foreseeable future.
That could put a crimp in deals such as Baugur Group's interest in acquiring Saks Inc., sources said. The Icelandic firm is said to need time to pull together the financing for a purchase of Saks Inc.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"