Also ...

Polo Ralph Lauren Corp., its founder and other shareholders plan to sell 29.5 million shares at $22 to $25 each in an initial public offering that values the company at as much as $2.5 billion. The New York City-based clothing designer and retailer said in a filing with the Securities and Exchange Commission that it would sell 30% of the company to new investors in its first-time stock sale. . . . The Energy Department invited potential buyers to bid on its stake in a major California oil reserve, the Elk Hills Field outside of Bakersfield, in the first step in a sale of government assets expected to exceed the $1.6- billion privatization of Conrail 10 years ago. The sale was authorized by last year’s National Defense Authorization Act. . . . A Michigan federal judge handed a victory to women suing Dow Chemical Co. for breast implant claims by allowing the first two phases of a Louisiana class-action lawsuit to proceed. . . . Chinese stocks tumbled after the government banned state-owned and publicly traded companies from buying shares with proceeds of bank loans and stock sales. State-owned and publicly traded companies 40% of daily trading on China’s exchanges, according to one trader.