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Macy’s Inc. named Peter Sachse new chief growth officer, the company said Monday. Sachse, who was chief innovation and business development officer for the past year, will oversee merchandising for Macy’s, off-price retailer Macy’s Backstage, luxury beauty brand BlueMercury, and international expansion. Justin MacFarlane has joined the company as chief strategy, analytics and innovation officer. MacFarlane joins from Ann Inc., an Ascena Retail Group Inc. company, where he was senior vice president of corporate strategy. Both of the jobs at Macy’s are new positions, said Chief Executive Terry Lundgren in a press release. Macy’s shares were up 0.7% in Monday trading, but down 36.3% over the past year. The S&P 500 is down 3.1% for the previous 12 months.

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A rise in cases of babies born with abnormally small heads and its potential association with the Zika virus is grounds for a global health emergency, according to the World Health Organization Monday. With 25 countries reporting cases of the mosquito-borne Zika virus, the WHO action comes because of a cluster of microencephaly cases beginning in French Polynesia and then most recently in Brazil, and strong association with the virus, said Bruce Aylward, WHO executive director of outbreaks and emergencies, in a press conference. “The question is, is this spreading will it spread further?” Aylward said.

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WASHINGTON (MarketWatch) — Loan standards to commercial and industrial firms and commercial real estate tightened in the fourth quarter, the Federal Reserve said Monday in its senior loan officer survey. That came in a quarter when commercial and industrial loan demand had weakened somewhat but commercial real estate demand picked up. The officers also said they expected the loan performance of commercial loans and those backed by multifamily residential properties to get worse this year. The survey also found a moderate easing of standards on some categories of residential mortgage loans as well as on auto loans, while banks reported having left standards on credit card loans basically unchanged. Delinquency and charge-off rates on subprime auto loans are expected to increase, the survey found.

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Gold futures on Monday settled at their highest level in about three months as losses for oil and the U.S. stock market fueled a flight to safety among investors. April gold rose $11.60, or 1%, to settle at $1,128 an ounce. Prices haven’t settled at a level that high since Nov. 2, according to FactSet data.

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The Centers for Disease Control said the two E.coli outbreaks at Chipotle Mexican Grill Inc. “appear to be over” in a release published Monday. The first, larger outbreak, which included 55 cases in 11 states, began in October with initial illnesses reported in Washington and Oregon. A second, smaller outbreak began with illnesses reported in November. Five people were infected in three states. The evidence collected during the investigation suggest a common item was the source of the outbreaks, though a specific food wasn’t identified. The data indicates that those who had fallen ill had eaten in Chipotle in the week before their sickness started. Since the outbreaks were reported, Chipotle has put new food safety measures in place. Chipotle shares are up 4.8% in Monday trading after falling 33.1% over the past year. The S&P 500 is down 3.4% for the past 12 months.

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Shares of Lumber Liquidators Inc. soared 10% in midday trade Monday, after the wood-flooring company was sentenced for importing illegal wood. The stock has now run up 22% since Jan. 19, when it closed at the lowest level seen since March 25, 2009, but was still down 77% over the past year. The company was sentenced to $13.2 million in fines and forfeitures for violations of the Lacey Act, which includes importing illegal wood and submitting false declarations, according to the Environmental Investigation Agency. The company was not immediately available for comment. When Lumber Liquidators pleaded guilty in October 2015 to environmental crimes, the Dept. of Justice said the company would pay $13.15 million as part of a plea deal. The penalties Lumber Liquidators will pay as part of Monday’s sentencing include $7.8 million in criminal fines, $1.23 million in community service payments, nearly $1 million in forfeited proceeds and $3.15 million related to a civil forfeiture, EIA said. “The real cost to the company will come from having to forego cheap, stolen wood in its supply chain while the Department of Justice looks over its shoulder,” said EIA Executive Director Alexander von Bismarck. The sentencing is not related to a “60 Minutes” report in early 2015, that alleged the company sold wood flooring from China with high-levels of a cancer-causing agent.

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