Coty IPO

Coty, the perfume maker that pulled a takeover offer for Avon Products, is proceeding with plans for an IPO, sources said. Coty hired Bank of America and JPMorgan Chase to help manage the sale, which could value the company at more than $7 billion.

Skechers

The FTC announced that Skechers USA agreed to pay $40 million to settle charges that it deceived consumers by “making unfounded claims that Shape-ups would help people lose weight, and strengthen and tone their buttocks, legs and abdominal muscles.”

Defaults

The mortgage delinquency rate declined in the first quarter to the lowest level since 2008 as an improving job market helped more borrowers pay their bills and tighter lending standards resulted in fewer defaults.

Call of Duty

Activision Blizzard and Electronic Arts have settled claims over the game “Call of Duty: Modern Warfare 2.”

Nailing it

April housing starts rose 2.6 percent to a 717,000 annual rate from March’s revised pace of 699,000.