Francesca's coming to Mall at UTC
UNIVERSITY PARK -- Women's boutique Francesca's will open its second Sarasota County store this year in the Mall at University Town Center.
The Houston-based clothing company filed its building permit application Monday for a 2,600-square-foot store on the mall's second floor, near Macy's. Francesca's opened a store this year in Sarasota's Westfield Southgate Mall.
Francesca's started in 1999 and now has more than 450 boutiques in 45 states and sells clothes that mainly range in price from $30 to $50.
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The 880,000-square-foot Mall at UTC is expected to open Oct. 16 at Cattlemen Road and University Parkway. It will be more than 90 percent leased and committed when it opens with anchors Macy's, Dillard's, Saks Fifth Avenue. The 100-plus stores and restaurants include several unique to market retailers including Apple, Crate & Barrel, H&M and Cheesecake Factory.
LinkedIn to pay $6M in unpaid wages, damages
NEW YORK -- Professional networking service LinkedIn has agreed to pay nearly $6 million in unpaid wages and damages to 359 current and former employees, the Labor Department said on Monday.
The U.S. Department of Labor said an investigation found LinkedIn Corp. in violation of overtime and record-keeping rules that are part of the federal Fair Labor Standards Act. It said the violations occurred at company branches in California, Illinois, Nebraska and New York.
A representative for LinkedIn, based in Mountainview, Calif., did not immediately respond to a message for comment.
LinkedIn agreed to pay the back wages once it was notified of the violations and to take steps to prevent them from happening again.
Federal law requires that hourly employees be paid 1.5 times their regular hourly rates for hours they work beyond 40 per week.
U.S. stocks rise amid earnings, Portugal bailout
NEW YORK -- U.S. stocks rose, with the Standard & Poor's 500 Index rebounding from the biggest weekly loss in two years, as Portugal announced a bailout for Banco Espirito Santo and Berkshire Hathaway beat earnings estimates.
Warren Buffett's Berkshire Hathaway rose 3.1 percent as results improved at operating businesses including auto insurer Geico, railroad BNSF and the energy unit. Anadarko Petroleum and Noble Energy increased more than 4.8 percent to lead a rally among energy companies. Michael Kors fell 5.9 percent, the most in the S&P 500, after the company said profitability will decline this year.
The S&P 500 rose 0.7 percent to 1,938.99 at 4 p.m. Monday in New York. The Dow Jones Industrial Average added 75.91 points, or 0.5 percent, to 16,569.28, after erasing its gain for the year last week. More than 5.6 billion shares changed hands on U.S. exchanges on Monday, 1.4 percent below the three-month average.
Herald staff and wire reports