Heavy storms are expected to cover the Eastern third of the United States Tuesday and Wednesday, but retailers could gain a boost Thursday and Friday when dry and cold weather is forecast for much of the country. The break from storms could entice shoppers to visit brick-and-mortar stores to relieve cabin fever and direct their interest towards cold-weather gear. “The best story in all of this, in my opinion, is that [the storm] clears out in time for a lot of the Thanksgiving shopping,” said Scott Bernhardt, president of Planalytics. “Everyone is in that holiday frame of mind—that’s good news.”
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Royal Bank of Scotland Group Plc (RBS) chose a law firm, Clifford Chance LLP, to investigate whether the banking company tried to boost its profits by pushing companies that owed it money into financial difficulties. RBS took the action today after a report by Lawrence Tomlinson, chairman and founder of LNT Group Ltd., said that once companies were in default, the bank could charge them advisory fees and buy their assets at reduced prices.
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