Daily Dispatch: Intel & Google, The WSJ, Barneys New York, and Retail Gains

Last Updated Jun 13, 2007 2:01 PM EDT

  • Among a laundry list of technology heavy-weights, Intel and Google are spearheading a new climate initiative announced yesterday. The energy efficiency program, called Climate Savers Computing Initiative, said their goal is to "promote development, deployment and adoption of smart technologies that can both improve the efficiency of a computer's power delivery and reduce the energy consumed when the computer is in an inactive state." The consortium has also set the specific target of reducing annual computer CO2 emissions by 54 million tons.
  • The Wall Street Journal is reported to be in the midst of an editorial shake-up, according to a New York Times article. The reorganization is viewed as managing editor Marcus E. Brauchli's attempt to put his own stamp on the nation's most respected newspapers. The Bancroft family, which owns a controlling stake in the Journal's parent company, Dow Jones, is expected to announce today a new proposal that would safeguard the journal's independence in the event of a News Corporation takeover.
  • Barneys New York, the ultimate luxury department store, is nearing a final agreement to be acquired by Istithmar, a private equity firmed owned by the Dubai government. The New York Post reports that Barneys' parent company, the Jones Apparel Group, would receive $95o million for the sale. A deal may be reached as early as this week or next, the Post said.
  • Sky-high gas prices and a slumping housing market apparently weren't enough to keep consumers from spending last month. May retail sales surged by 1.4 percent -- double the increase analysts expected. Every spending category showed an increase, with car dealers, department stores, specialty clothing stores and hardware stores enjoying an especially good month.