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The British government on Tuesday ordered an investigation into the circumstances surrounding department store retailer BHS's collapse into administration last week. Business Secretary Sajid Javid has instructed the Insolvency Service to fast-track its inquiry, which will also specifically consider the extent to which the conduct of the directors of BHS led to its insolvency. BHS was placed into administration, a form of creditor protection, by owner Retail Acquisitions on April 25, putting the 88-year-old retailer at risk of disappearing from British shopping streets and putting 11,000 jobs at risk.
NEW YORK (AP) — Former New York Assembly Speaker Sheldon Silver, a consummate backroom dealer who wielded power for more than two decades, awaited his sentence on federal corruption charges Tuesday in one the steepest falls from grace in the state's lineup of crooked politicians.