SLOANE Capital, the Limerick-based property company backed by JP McManus and John Magnier, has bought one of the most prestigious retail outlets on Rodeo Drive in Beverly Hills for €196 million.

Wall Street rose for a second straight session today after the government’s latest gross domestic product reading showed the economy was in better shape than expected, easing concerns that growth was moderating too sharply. The Dow Jones industrials rose 90 points.

Wall Street lost some momentum today after Wal-Mart turned in a disappointing earnings report and government data showed a slightly higher number of jobless claims and a larger-than-expected trade deficit.

Amy Westfeldt, New York