Poor Forecasts for Holiday Sales, Yellen Emerges as Frontrunner, FDA Bans Ranbaxy Imports (Again)

Holiday retail sales are forecast to rise only 2.4 percent from 2012, a concerning figure as the retail industry depends on holiday and back-to-school shopping for up to 40 percent of yearly revenue.

Janet Yellen emerges as the frontrunner to lead the Federal Reserve Bank.

Safeway has adopted a “poison pill” plan to prevent a takeover after learning that an investor has accumulated significant amounts of stock in the company.

Concerns over drug quality have led the FDA to ban imports from the generic drug maker Ranbaxy’s newest factory in India, marking the third time that Ranbaxy imports have been banned in the U.S. since 2008.

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