Michael A Miles Jr, president and chief operating officer of Staples Inc (NASDAQ:SPLS) has resigned from the company effective February 2, 2013. According to the company, he has accepted a position with Berkshire Partners, a Boston-based investment firm.
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“The main problem with the Russian Post is its unpredictability,” says Vladimir Dolgov, head of eBay (NASDAQ:EBAY) for Russia, quoted by Bloomberg. That may be about to change as Russia plans to improve and revamp the distribution network of the Russian Post for e-commerce, says the Russian Telecommunications Ministry. A draft proposal is likely to be placed in the Parliament within the first half of 2013. That should make things easier for eBay and Ozon.ru, Russia’s largest Internet retailer.
Hartford Financial Services (NYSE:HIG), the Travelers Companies Inc (NYSE:TRV) and Berkshire Hathaway (NYSE:BRKB) could be affected by a report from ratings firm AM Best that estimates the ultimate cost of claims relating to asbestos may top $85 billion instead of the $75 billion estimated last year. According to the report, insurers are posting nearly $2 billion in losses each year and new asbestos claims continue to emerge even after many years since the original exposure to the material.
Investing Insights: Is Best Buy a Good Buy or a Goodbye?