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Business



Last Build Date: Sun, 19 Nov 2017 00:32:16 EST

Copyright: copyright © 2017 Dow Jones & Company, Inc.
 



GE's New Chief Sets Focus on Three Key Units

Fri, 17 Nov 2017 19:25:42 EST

General Electric’s new leader plans to unveil a road map for the conglomerate that will focus on three of its biggest business lines, but stops short of a breakup.



Vox Media Editorial Staffers to Unionize

Fri, 17 Nov 2017 17:37:33 EST

Editorial staffers at Vox Media have voted to unionize, making it the latest digital publisher to see its workforce organize amid a tougher online advertising landscape.



Diageo Sues 'King of Good Times'

Sat, 18 Nov 2017 04:28:57 EST

Diageo is suing Vijay Mallya for allegedly breaching a deal struck last year to cut ties with its India unit in return for millions of dollars, the latest twist in a yearslong saga between the Indian billionaire and the world’s largest liquor maker.



VW Accelerates Electric Car Effort With $40 Billion Investment

Fri, 17 Nov 2017 22:09:10 EST

Volkswagen plans to invest around $40 billion over the next five years to develop electric vehicles, self-driving cars and Uber-like mobility app services in the clearest sign yet that auto makers are betting the future of their industry on the new technology.



Nissan Blames Scandal on Unrealistic Management Demands

Fri, 17 Nov 2017 10:17:01 EST

Nissan released an internal report that blames a vehicle inspection scandal at Japan’s second-largest car maker by sales on management for setting unrealistic targets, relying on factory workers to figure out the details.



Delta, JetBlue Battle for Boston Fliers

Fri, 17 Nov 2017 15:33:57 EST

JetBlue Airways and Delta Air Lines are ramping up a turf war in Boston. A diverse economy and high concentration of business fliers are spurring airlines to expand at Boston’s Logan International Airport, which generates outsize revenue for its size.



Mexico Secures Even Lower Prices for Clean Energy in Auction

Thu, 16 Nov 2017 17:17:02 EST

Mexico expects investment of around $2.4 billion in the next three years in new electricity generation projects as a result of its third long-term power auction, which saw prices for clean energy fall.



FCC Rolls Back Limits on Local-Media Ownership

Thu, 16 Nov 2017 22:11:44 EST

New changes in federal media ownership rules approved are likely to touch off a wave of deal-making, reordering the local-TV landscape.



Germany's Siemens to Slash Jobs Amid Shift to Renewable Energy

Thu, 16 Nov 2017 15:27:54 EST

Germany’s Siemens AG said it would cut 6,900 jobs as it wrestles with a sharp slowdown in demand for turbines used in fossil-fueled power plants, the latest restructuring move by a global industrial giant.



DOJ Antitrust Chief's Speech Sends Another Signal on AT&T Deal

Thu, 16 Nov 2017 22:07:42 EST

The Justice Department’s new antitrust chief made clear Thursday he doesn’t favor approving mergers based on corporate commitments to refrain from particular conduct, another potentially ominous sign for AT&T Inc.’s planned deal for Time Warner Inc.



Scana Proposes to Lower Rates After Ending Nuclear Plant Project

Thu, 16 Nov 2017 13:42:40 EST

Scana said it would absorb some of the construction costs from its failed nuclear plant project and rollback rates for South Carolina utility customers, as it faces pressure from state regulators and consumer groups over its handling of the development.



How Companies Are Pushing Ahead on Climate-Change Targets

Thu, 16 Nov 2017 17:20:45 EST

More global firms are pledging to cut greenhouse-gas emissions as they seek to cut costs, draw investment or get ahead of new laws.



Nothing Will Come Between Amazon and Its Deal for Exclusive Calvins

Thu, 16 Nov 2017 08:28:10 EST

Calvin Klein is for the first time selling new underwear exclusively on Amazon.com, bypassing the department stores that typically have first dibs on its latest styles.



Meredith Pursues Time Inc. With Backing From Koch Brothers

Thu, 16 Nov 2017 11:34:23 EST

Meredith has lined up financing commitments from several banks as well as the billionaire Koch brothers in pursuit of a takeover of Time Inc.



AT&T Wireless Customers Report Network Problems

Thu, 16 Nov 2017 11:32:37 EST

AT&T’s wireless network suffered a widespread failure Wednesday night that prevented some customers from placing or receiving calls.



Weinstein Co. Sells 'Paddington 2' Rights as It Explores Options

Thu, 16 Nov 2017 08:56:27 EST

The troubled film studio Weinstein Co. is getting a cash infusion from an animated bear to help it stay afloat.



Activist Peltz Narrowly Wins P&G Board Seat, New Count Shows

Thu, 16 Nov 2017 08:56:13 EST

Activist investor Nelson Peltz won a proxy fight for a board seat at Procter & Gamble by a slim 43,000 vote margin, a preliminary report says, weeks after the company had declared victory in fending off his bid.



Airbus, Boeing Seal More Than $75 Billion in Orders

Wed, 15 Nov 2017 21:40:31 EST

Airbus and Boeing secured more than $75 billion in single-aisle plane commitments, demonstrating unrelenting appetite for their most popular planes from discount carriers.



Why a DOJ vs. AT&T-Time Warner Case Could Be a Close Call

Thu, 16 Nov 2017 00:31:02 EST

If the Justice Department sues to block AT&T’s planned acquisition of Time Warner, it would mark one of the most ambitious antitrust cases in decades and likely lead to a court battle that would be hard to handicap.



As Headwinds Ease, Mideast Airlines Go Shopping

Thu, 16 Nov 2017 04:17:04 EST

Deals secured at the Dubai Airshow reflect an upswing in sentiment among executives at airlines in the Middle East whose earnings have been dented over the past 18 months.



Acorda Therapeutics Reports Five Deaths in Study

Wed, 15 Nov 2017 13:19:59 EST

Acorda Therapeutics has stopped enrolling new patients in a clinical trial of its Parkinson’s disease-drug tozadenant after reporting five deaths in treatment studies.



Big Booze Makers Lose a Price Fight

Wed, 15 Nov 2017 17:00:50 EST

In a blow to big alcohol, the U.K.’s Supreme Court has ruled that Scotland can set a floor on beverage prices, potentially setting a global precedent.



Viacom, Charter Strike Carriage Deal

Wed, 15 Nov 2017 10:35:44 EST

Media giant Viacom and cable operator Charter Communications have finalized an agreement to deliver Viacom’s networks to Charter’s 16.6 million Spectrum cable subscribers.



SandRidge Energy Confirms $746 Million Deal to Buy Bonanza Creek

Wed, 15 Nov 2017 12:02:32 EST

SandRidge Energy said Wednesday it has reached a deal to buy Bonanza Creek Energy for $746 million in cash and stock.



Stitch Fix Co-Founder to Reap Millions in IPO; Her Ex-Partner Is a Footnote

Thu, 16 Nov 2017 04:13:37 EST

Katrina Lake started Stitch Fix, a personal-shopping startup preparing to go public this week, seeking a valuation as high as $2 billion. But she wasn’t alone: A co-founder has been scrubbed from most company records.



Cardinal Health Pulls Back From China

Wed, 15 Nov 2017 04:33:37 EST

The U.S. pharmaceutical company, which has taken a hit from falling generic-drug prices, is unloading its distribution operations as Beijing tightens oversight of the industry.



GE Shares Have a Second Bad Day

Tue, 14 Nov 2017 20:22:08 EST

General Electric Co. shares tumbled 5.9% on Tuesday, causing the conglomerate to lose its crown as the biggest U.S. industrial company as Wall Street digests a turnaround plan announced Monday.



U.S. Manufacturing Rides Rising Tide

Wed, 15 Nov 2017 00:28:13 EST

American manufacturing has picked up pace over the last 12 months thanks to steady global economic growth, a rise in energy and other commodity prices, and increased confidence.



Airbus, Emirates Face Off Over A380 Future

Tue, 14 Nov 2017 13:09:04 EST

After stepping back from making a big expected order for Airbus’s largest jet, the A380 super jumbo, Emirates ratcheted up the pressure on the plane maker, demanding it commit to making the unprofitable plane for at least another decade before it buys any more.



Brazil's JBS Expects to Finish Asset Sale Program by Year-End

Tue, 14 Nov 2017 11:13:40 EST

Troubled Brazilian meatpacking giant JBS SA said it expects to wrap up its asset-sale plan by the end of the year, and might not need to further renegotiate bank loans.



Madison Square Garden Seeks Buyer for WNBA Team New York Liberty

Tue, 14 Nov 2017 18:19:57 EST

The Madison Square Garden Co. is looking to sell its Women’s National Basketball Association franchise, the New York Liberty.



Streaming Service Tests Appetite for Low-Cost TV Without Sports

Tue, 14 Nov 2017 14:06:11 EST

There’s a new way to get about three dozen entertainment-oriented cable channels for $16 a month, as long as you can live without watching the big game.



What a Combined Hasbro-Mattel Could Mean for Toys

Tue, 14 Nov 2017 06:20:41 EST

A tie-up between Hasbro and Mattel would result in a toy company would have a significant impact on the sector and have great heft in certain toy categories like toy cars and dolls.



GE Cuts Dividend, Slashes Profit Goals Amid Restructuring

Tue, 14 Nov 2017 04:35:23 EST

GE slashed its 2018 profit forecast and said it was cutting its dividend by half, as the 125-year-old industrial conglomerate seeks to preserve cash for a restructuring under new Chief Executive John Flannery that will focus on three core units.



Weinstein Co. Lender Sues to Recover $45 Million Loan

Tue, 14 Nov 2017 10:28:31 EST

A lender is suing the Weinstein Co. seeking the immediate repayment of a $45 million loan it says came due after the movie studio fired co-chairman Harvey Weinstein in the wake of numerous allegations of sexual misconduct and assault.



Brazil's Petrobras Posts Profit

Mon, 13 Nov 2017 17:34:58 EST

Brazilian state-run oil company Petróleo Brasileiro SA, or Petrobras, eked out a slim profit in the third quarter amid higher oil prices, though high interest expenses weighed on its bottom line.



GE to Simply Its Reporting of Financial Results

Mon, 13 Nov 2017 16:20:37 EST

General Electric Co. said it plans to simplify the way it reports financial results, admitting it has been hurt by its own accounting complexity.



Madison Square Garden CEO David O'Connor Steps Down

Mon, 13 Nov 2017 14:58:28 EST

Madison Square Garden Co. said David O’Connor has stepped down from his roles as CEO and president, effective immediately.



Chinese Aluminum Company Drops Bid for U.S. Firm

Mon, 13 Nov 2017 14:26:43 EST

A Chinese company’s $1.1-billion deal to purchase an American metals producer has collapsed following U.S. government opposition, marking another scuttled transaction between Chinese and U.S. companies over national-security issues.



Pfizer Sets Up Succession Plan With Creation of Operating Chief Role

Mon, 13 Nov 2017 15:47:30 EST

Pfizer named executive Albert Bourla to a newly created position of chief operating officer, putting him first in line to succeed Chief Executive Ian Read.



Tensions Mount Over Bombardier's CSeries Deal With Airbus

Mon, 13 Nov 2017 18:25:32 EST

Struggling Bombardier’s move to give Airbus control of its CSeries plane project has driven rivals to renew their pledges to pursue legal complaints against the Canadian aircraft maker.



Brookfield Property Confirms $14.8 Billion Offer To Buy Remainder of GGP

Tue, 14 Nov 2017 00:38:49 EST

Brookfield Property Partners confirmed Monday it has made a $14.8 billion offer to buy the shares of mall owner GGP that it doesn’t already own.



AB InBev Switches U.S. Boss as It Struggles With Sales Slump

Tue, 14 Nov 2017 00:00:48 EST

Anheuser-Busch InBev, unable to arrest a nearly two-decade decline in Budweiser sales, has picked company veteran Michel Doukeris as chief of the largest U.S. brewer.



Brookfield Property Makes $14.8 Billion Offer to Acquire Rest of GGP

Mon, 13 Nov 2017 06:27:52 EST

Brookfield Property Partners LP has made a $14.8 billion offer to acquire the shares of mall owner GGP Inc. that it doesn’t already own, according to people familiar with the matter.



Now Featured on Wal-Mart's Website: Higher Prices Than Stores

Mon, 13 Nov 2017 10:57:05 EST

Wal-Mart wants to charge more to buy some products online than in stores, part of a move to boost profits and drive store traffic as it faces off with Amazon.



Emirates Airline Orders $15.1 Billion in Boeing 787 Dreamliners

Sun, 12 Nov 2017 23:13:33 EST

Emirates Airline on Sunday renewed its aircraft buying spree, committing to buy $15.1 billion worth of Boeing Co. 787 Dreamliners. Boeing bested Airbus in the competition to sell Emirates Airline, the world’s largest carrier by international traffic, new long-haul planes.



Why Millennials Crave Cold Coffee

Sun, 12 Nov 2017 22:55:14 EST

McDonald’s, Blue Bottle Coffee and Dunkin roll out bottled or canned frappés, iced mochas and cold brew that 18- to 35-year-olds tend to favor.



Chinese Grab TVs and Yachts on Alibaba's $25 Billion 'Singles Day'

Sun, 12 Nov 2017 10:44:42 EST

E-commerce giant Alibaba said it racked up more than $25.3 billion in sales on its annual ‘Singles Day,’ helped along by a gala TV show and broad discounts. An Aston Martin racing yacht was purchased for $2.56 million.



Louis C.K. Acknowledges Sexual Misconduct as Media Firms Cut Ties

Mon, 13 Nov 2017 08:47:32 EST

Comedian Louis C.K. expressed remorse for his behavior in the wake of several women recounting incidents of sexual misconduct in a report that caused entertainment companies to cut ties with him.



Altice Shakes Up Top Ranks in Bid to Reassure Investors

Fri, 10 Nov 2017 15:58:17 EST

Altice Chief Executive Michel Combes has resigned amid a raft of management changes as the cable company seeks to reassure investors after disappointing third-quarter results led to a rapid decline in its share price.



Murky GE Accounting Clouds Cash Flow

Fri, 10 Nov 2017 13:06:10 EST

No matter what happens with General Electric Co.’s dividend, investors will still have to grapple with the fact it is nearly impossible to tell how much of its earnings are backed by cash.



The Workplace After Weinstein: Harassment Claims Bring Rapid Changes

Mon, 13 Nov 2017 11:10:38 EST

Sexual-misconduct claims in Hollywood and beyond, amplified by social media, have abruptly altered the corporate climate, prompting firms to scrutinize how employees work together.



Michael Saylor Guides MicroStrategy Through 'Valley of Death'

Fri, 10 Nov 2017 17:01:46 EST

Michael Saylor, CEO of business-analytics pioneer MicroStrategy Inc., now faces what he calls “the Valley of Death,” a software company’s middle stage of development, where it is financially viable but lacks the scale of an independent long-term survivor in the marketplace.



GE Dividend in Focus as Investors Await New Strategy

Fri, 10 Nov 2017 15:34:22 EST

Investors and analysts are bracing themselves for a broad rethinking of how GE operates, including shedding business units, a dividend cut, and layoffs among GE’s nearly 300,000-person workforce.



Drones Are Now Operating Underground

Thu, 09 Nov 2017 21:12:47 EST

Hundreds of feet underground, scientists are experimenting with a technology that could transform how mining companies dig out rocks in dangerous, pitch-black caves: fully autonomous drones.