U.S. apartment vacancy rate edges up in second quarter: Reis
The U.S. apartment vacancy rate increased in the second quarter and rents were higher, according to a report from Reis Inc .
Time Inc (TIME.N), the publisher of Sports Illustrated, People and Time magazines, said Chief Financial Officer Jeff Bairstow will leave the company after a three-year stint and would be succeeded by Senior Vice-President Sue D'Emic.
Bairstow, 57, will remain in the role till Nov. 7 and will stay on in an advisory role till March next year, the company said on Tuesday.
Time had appointed Rich Battista as its chief executive last month, succeeding Joe Ripp.
The latest management shuffle comes nearly two months after activist investor Jana Partners revealed a 5 percent stake in the company.
Time, like many publishers has been hit by a fall in print ad sales as advertisers spend more on other media.
The company's print ad revenue which accounts for 70 percent of ad sales, fell 12.8 percent to $299 million in the last quarter, from a year earlier.
Up to Monday's close, shares of Time had fallen 15.4 percent this year.
(Reporting by Laharee Chatterjee; Editing by Shounak Dasgupta)
TOKYO Japanese stocks edged towards two-year highs on Tuesday as exporters benefited from dollar strength, with investors expecting comments from Federal Reserve Chair Janet Yellen to support the Fed's projection for one more interest rate rise this year.