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UPDATE 1-Judge upholds U.S. 'gainful employment' rules for for-profit colleges

District Judge Lewis Kaplan in New York upheld the Department of Education's rules, which require the colleges to demonstrate their graduates earn enough money to repay their loans in order to maintain access to federal financial aid. The Association of Proprietary Colleges, which represents 20 schools in New York, brought the New York lawsuit.
Source: Reuters | By: Joseph Ax
Judge upholds U.S. 'gainful employment' rules for for-profit colleges

District Judge Lewis Kaplan in New York upheld the Department of Education's rules, which require the colleges to demonstrate their graduates earn enough money to repay their loans in order to maintain access to federal financial aid. The Association of Proprietary Colleges, which represents 20 schools in New York, brought the New York lawsuit.
Source: Reuters | By: Joseph Ax
Thought flares dominated 1970s fashion? Think again

Fashion designer Diane von Furstenberg said the launch of her iconic "wrap dress" design in 1974 gave her a financial security she had never had before.
Source: CNBC.com | By: Jenny Cosgrave
Corinthian collapse sparks effort to cancel student loan debt

WILMINGTON, Del., May 19- The bankruptcy of Corinthian Colleges Inc, one of the biggest for-profit college chains, has set off a scramble to find a way to wipe away billions of dollars of student loans for those who attended its campuses. The groups, including the National Consumer Law Center, said the Department of Education had the authority because Corinthian...
Source: Reuters | By: Tom Hals
A third of Pedialyte's sales now comes from adults

The drink once reserved for young kids has made new inroads with hungover adults.
Source: CNBC.com | By: Zack Guzman
UPDATE 4-SEC charges ITT Educational, CEO, CFO with fraud; shares plunge

*SEC says company hid information from investors, auditor. In a complaint filed in the federal court in Indianapolis, the SEC accused ITT, Chief Executive Kevin Modany and CFO Daniel Fitzpatrick of hiding how ITT expected to owe hundreds of millions of dollars because its underlying loans had performed "abysmally," with "extremely high" default rates.
Source: Reuters | By: Jonathan Stempel
France's Accor expands Cuban footprint with luxury hotel

PARIS, May 11- Accor, Europe's largest hotel group, said on Monday it had sealed a deal to open a luxury hotel in Cuba, the 518- room Pullman Cayo Coco, near the Caribbean island's international airport. Accor, which has been operating in Cuba for nearly 20 years, already manages two mid-scale Mercure hotels there, the 178- room Mercure Sevilla Havana in Habana Vieja...
Source: Reuters
ISIS claims responsibility for Garland attack

ISIS claimed responsibility for the attack at a Texas event featuring caricatures of the Prophet Muhammad, NBC News reports.
Source: NBC News | By: Sarah Burke and Alexander Smith
Corinthian Colleges files bankruptcy to facilitate wind-down

May 4- Corinthian Colleges Inc, the for-profit college operator hamstrung by federal and state investigations, filed for bankruptcy in Delaware on Monday, about a week after announcing it would shutter its remaining campuses and cease operations. In April, the Department of Education fined Corinthian $30 million for misrepresenting job placement rates to...
Source: Reuters | By: Nick Brown