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Business



Last Build Date: Sun, 22 Jan 2017 00:32:13 EST

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Wal-Mart Starts Layoffs at Headquarters

Fri, 20 Jan 2017 18:29:44 EST

Wal-Mart Stores was following through Friday on plans to cut nearly 1,000 corporate jobs.



Merck Settles With Bristol-Meyers, Ono Over Cancer-Drug Patent

Fri, 20 Jan 2017 16:55:01 EST

Merck will pay $625 million plus royalties on Keytruda sales to Bristol-Myers Squibb and Ono Pharmaceutical to settle a suit alleging the cancer drug violates their patent for a method of harnessing the body’s immune system to fight cancer.



U.S. Oil Producers Ramp Up Spending

Fri, 20 Jan 2017 22:56:46 EST

U.S. oil producers, optimistic that higher crude prices are here to stay, have issued 2017 budgets that call for dramatically greater spending to tap new wells.



AT&T's DirecTV Now Added at Least 200,000 Subscribers in First Month

Fri, 20 Jan 2017 16:37:16 EST

AT&T said its new streaming-video service, DirecTV Now, added at least 200,000 paying subscribers in December, its first month of operation.



Sands to Pay $6.96 Million to Settle U.S. Investigation

Fri, 20 Jan 2017 11:19:15 EST

Las Vegas Sands agreed to pay a $6.96 million criminal penalty to settle a U.S. investigation into violations of the antibribery law over payments the company made to a business consultant in China.



McDonald's Turns Up Heat in Russia

Fri, 20 Jan 2017 11:18:39 EST

McDonald’s is advancing into new territories such as Siberia and encountering familiar rivals such as KFC and Burger King, which built scores of restaurants in the past few years.



SEC Questions Herbalife Over China Anti-Corruption Efforts

Fri, 20 Jan 2017 14:54:04 EST

Herbalife said Friday that the Securities and Exchange Commission is investigating its anticorruption efforts in China.



Boeing May Face Union Vote at 787 Plant

Fri, 20 Jan 2017 09:48:54 EST

Union leaders said they planned to advance long-running efforts to organize a big Boeing jetliner plant in South Carolina with a petition to the National Labor Relations Board for an employee vote later this year.



Ford Sees Remeasurement Loss of About $3 Billion

Fri, 20 Jan 2017 08:27:55 EST

Ford Motor Co. said it plans to take a $3 billion pre-tax charge against its fourth-quarter earnings related to its pension and retiree-benefit plans, following a change in its pension accounting the company made a year ago.



Heineken in Talks to Buy Kirin's Brazil Assets

Fri, 20 Jan 2017 07:55:03 EST

Heineken is in talks with Japan’s Kirin Holdings to acquire its struggling beer operations in Brazil, a move that could strengthen the Dutch brewer in one of the world’s largest beer markets.



'Hidden Figures' Adds Up to a Hollywood Success Story

Fri, 20 Jan 2017 10:01:10 EST

The PG-rated, mid-budget drama featuring three African-American women as a trio of brilliant NASA workers during the age of the Space Race and Jim Crow has garnered attention in Hollywood because of its continuing box-office triumphs.



U.S. Air Force Missile-Tracking Satellite Launch Scrubbed From Florida

Thu, 19 Jan 2017 21:46:55 EST

An aircraft flying near the launch area forced the cancellation of Thursday’s planned liftoff of a $1.2-billion Air Force missile-tracking satellite from Cape Canaveral Air Force Base in Florida.



Hyundai Merchant Marine to Buy Stake in Long Beach Terminal

Thu, 19 Jan 2017 19:34:40 EST

South Korea’s Hyundai Merchant Marine said it will buy a fifth of the company that runs the biggest container terminal at Long Beach, Calif., the U.S.’s No. 2 port, a month after dropping out of a joint bid for a controlling stake.



Railroad Maverick Buoys CSX Investors

Fri, 20 Jan 2017 00:28:06 EST

Hunter Harrison has spent several years trying to assemble a transcontinental railroad empire. This week the 72-year-old maverick set aside that pursuit but not his desire to run one of America’s biggest railroads.



SIG Sauer Wins Huge Army Handgun Deal

Thu, 19 Jan 2017 23:51:09 EST

The Pentagon said Thursday that SIG Sauer had won a $580 million contract to supply the U.S. Army with new handguns, ending a long-running contest that had attracted fierce criticism from a senior military chief.



Anthem Ends Preauthorization for Medication to Treat Opioid Addiction

Thu, 19 Jan 2017 17:32:23 EST

Anthem Inc. will stop requiring U.S. patients and doctors to obtain prior authorization from the health insurer before receiving coverage of medication to treat opioid addiction, under a settlement with New York state’s attorney general.



Avaya Files for Chapter 11 Bankruptcy Protection

Fri, 20 Jan 2017 08:34:05 EST

Communications company Avaya Inc. filed for chapter 11 bankruptcy protection Thursday as the company extended its decadelong string of annual losses.



The Trump Factor in Job Pledges: Analyzing the Numbers

Fri, 20 Jan 2017 15:46:10 EST

A dozen major companies have touted the creation of about 130,000 U.S. jobs since Donald Trump was elected president, vowing to keep jobs in America. How many of those come from Mr. Trump’s pressure and how many were already planned is harder to determine.



Paragon Offshore, Senior Lenders Reach New Deal

Thu, 19 Jan 2017 16:39:45 EST

Paragon Offshore and its senior lenders have reached a new deal to cut the company’s debt by $2.4 billion, months after a bankruptcy judge denied its original reorganization plan.



EpiPen Rival to Return to Market

Thu, 19 Jan 2017 21:19:59 EST

The maker of an EpiPen rival said its emergency allergy treatment would return to the market on Feb. 14, adding more competition to the market for the costly products.



Julia Haywood Leaves United Airlines

Thu, 19 Jan 2017 17:14:46 EST

Julia Haywood, a Boston Consulting Group airline partner who was hired by United Continental Holdings Inc. last summer as its new chief commercial officer, has left the airline to return to the consulting firm, United said Thursday.



Activist Investor Presses Rudolph Technologies, Nanometrics to Merge

Thu, 19 Jan 2017 17:16:26 EST

Activist investor Voce Capital Management is pressing semiconductor-equipment makers Rudolph Technologies and Nanometrics to merge, saying the two would be stronger together.



Volkswagen's Ex-CEO Denies Prior Knowledge of Emissions Cheating

Thu, 19 Jan 2017 10:10:03 EST

Martin Winterkorn, Volkswagen’s former chief executive, denied having any personal knowledge of the German car maker’s diesel-emissions cheating in his first major public appearance since the scandal broke in September 2015.



German Companies on a Tear in U.S.

Thu, 19 Jan 2017 12:50:14 EST

German companies are accelerating their expansion in the U.S., undaunted by President-elect Donald Trump’s threats to limit international trade and uncertainty surrounding his future stance on foreign takeovers.



PV Oil Stake Is Vietnam's Latest Investor Bait

Thu, 19 Jan 2017 04:55:39 EST

Vietnam is putting more of its state-owned companies up for sale, as the country looks to lure foreign investors. The latest: a minority stake in PetroVietnam Oil, known as PV Oil.



Asahi Reviewing Investment in China's Tsingtao Brewery

Thu, 19 Jan 2017 09:57:08 EST

The Japanese beer maker is reviewing its investments in China including its minority stake in Tsingtao Brewery because it isn’t satisfied with the current relationship, Asahi’s president said.



Woodside Expecting Production to Recover with New Projects

Wed, 18 Jan 2017 23:50:08 EST

Woodside Petroleum anticipates production levels will recover from next year as its investment in Australian oil and gas projects starts to deliver. .



Outgoing Canadian Pacific CEO and Activist Investor to Target CSX

Wed, 18 Jan 2017 23:34:43 EST

Hunter Harrison, the railroad veteran who announced his early departure from Canadian Pacific Railway, is joining with an activist investor in an attempt to shake up management at rival railroad CSX.



Acquired Taste: Vegemite Gets an Australian Owner

Wed, 18 Jan 2017 22:59:16 EST

Vegemite, Australia’s best-known condiment, is among a basket of brands being sold by Mondelez International to Bega Cheese.



China's Newest U.S. Deal Has a Venture Capital Twist

Thu, 19 Jan 2017 03:54:08 EST

A Chinese consortium led by China Oceanwide Holdings is nearing a deal to purchase International Data Group, the data and marketing firm that also runs venture-capital firm IDG Ventures.



Mallinckrodt Settles Antitrust Allegations on Unlawful Drug Monopoly

Thu, 19 Jan 2017 09:51:47 EST

Irish drugmaker Mallinckrodt and a U.S. subsidiary will pay $100 million and agree to other conditions to settle government antitrust allegations they unlawfully prevented competition for Acthar, a drug that has seen enormous price spikes in recent years.



FCC's TV Airwaves Auction Nears End With About $18 Billion in Bids

Wed, 18 Jan 2017 19:18:10 EST

The Federal Communications Commission’s auction of television airwaves is wrapping up after attracting about $18.2 billion in bids, far less than the last sale of government licenses amid weaker demand.



Livio DeSimone, a Former 3M CEO, Dies at 80

Wed, 18 Jan 2017 19:09:07 EST

Livio DeSimone, a chemical engineer who served as chairman and chief executive of 3M Co. in the 1990s, died Tuesday, the St. Paul, Minn.-based company said. He was 80 years old.



CP Rail CEO Harrison Leaving Early

Wed, 18 Jan 2017 19:10:59 EST

Canadian Pacific Railway Ltd. said Chief Executive Hunter Harrison will step down earlier than expected, leaving company President Keith Creel to steer the railroad forward amid a challenging industry environment .



Sumner Redstone's Ex-Girlfriend Asks Court to Assess His Health

Wed, 18 Jan 2017 19:06:48 EST

Sumner Redstone’s ex-girlfriend has asked a California court to appoint an independent doctor to assess his health and, if he lacks mental capacity, appoint a guardian for him, according to documents filed Wednesday.



What's the Nearest Subway Stop?

Wed, 18 Jan 2017 16:49:44 EST

New York just got a new subway line, but its system remains far from the world’s biggest.



Overhead Bins Not Included: More Airlines Launch No-Frills Fares

Thu, 19 Jan 2017 09:43:20 EST

American Air and United are set to join Delta in offering cheaper economy-cabin fares in a bid to compete with discount carriers.



Eastern Mountain, Bob's Stores Exploring Strategic Alternatives

Wed, 18 Jan 2017 15:15:58 EST

The company behind the Eastern Mountain Sports and Bob’s Stores retail chains is exploring its next steps, including a sale or restructuring, according to people familiar with the matter.



Plane-Leasing Companies Cautious on Iran Before Trump Presidency

Wed, 18 Jan 2017 14:52:24 EST

Some of the biggest aircraft-leasing companies remain leery about entering the Iranian market amid uncertainty over the incoming Trump administration’s policy toward the Islamic Republic.



SEC Fines GM $1 Million for Accounting Control Failures

Wed, 18 Jan 2017 14:49:39 EST

General Motors Co. agreed to pay a $1 million penalty to settle charges from U.S. securities regulators that the Detroit auto giant failed to alert its accountants to a defective ignition switch in a timely manner.



Hyatt Buys Miraval Group Resort Operator

Wed, 18 Jan 2017 12:00:08 EST

Hyatt Hotels has acquired the resort and spa company Miraval Group for $215 million, in a transaction that shows how Hyatt is trying to compete against larger rivals by focusing on more affluent guests.



Target Issues Profit Warning on Disappointing Holiday Sales

Wed, 18 Jan 2017 22:09:18 EST

Target warned of weak profits and sales in the critical holiday period, as the retail chain struggled to get shoppers to visit its stores and relied on discounting to compete with Amazon.com for online orders.



Pearson Shares Dive on Profit Warning

Wed, 18 Jan 2017 22:06:21 EST

Shares in Pearson plunged more than 30% after the world’s largest education company issued a profit warning for 2018 and said it plans to sell its stake in its Penguin Random House publishing joint venture.



Eli Lilly to Buy Migraine Drug Developer

Wed, 18 Jan 2017 07:24:57 EST

Eli Lilly agreed to acquire CoLucid Pharmaceuticals, which is developing an oral migraine treatment, for about $960 million, adding a potential near-term launch to its late-stage drug pipeline.



Trump Victory Slows Business Investment in Iran

Wed, 18 Jan 2017 14:39:49 EST

Small and midsize companies are rethinking or delaying entry to Iran following the election of Donald Trump, a break from their bigger counterparts which have struck recent deals despite concerns of fresh sanctions.



Bayer Joins Jobs Parade

Wed, 18 Jan 2017 03:16:26 EST

Bayer has pledged to add U.S. jobs and investment after meeting with President-elect Donald Trump, the latest in a string of public displays from companies looking to head off criticism from the incoming administration about job losses.



As May Signals U.K. Break From Single Market, Companies Scramble

Wed, 18 Jan 2017 05:41:44 EST

Prime Minister Theresa May’s clarification Tuesday that Britain will leave Europe’s tariff-free, single market, sent companies and trade bodies begging for something to take its place—and fast.



Former Sara Lee CEO Brenda Barnes Dies at 63

Wed, 18 Jan 2017 14:51:13 EST

One of the highest-ranking women in corporate America, she became a symbol of the choices women face juggling work and family life.



Second Theranos Lab Failed U.S. Inspection

Wed, 18 Jan 2017 14:51:44 EST

Theranos failed a second major U.S. regulatory inspection of its laboratory facilities, people familiar with the situation said, a setback the Silicon Valley blood-testing firm hasn’t disclosed to investors or patients.



Elliott Pushes for Changes at NRG Energy

Wed, 18 Jan 2017 16:53:28 EST

Hedge fund Elliott Associates LP said Tuesday that it has teamed with Bluescape Energy Partners LLC to buy a combined 9.4% stake in NRG Energy Inc. and pursue changes at the power company to boost its value.



Wal-Mart Touts Plan to Create U.S. Jobs, in Nod to Trump

Tue, 17 Jan 2017 18:16:01 EST

America’s largest retailer said it plans to create about 10,000 U.S. jobs this year, touting job growth in the country ahead of Donald Trump’s inauguration.



Allergan Admits to Disclosure Violations During Valeant Bid

Tue, 17 Jan 2017 21:11:39 EST

Allergan will pay $15 million in fines and admit to disclosure violations during a hostile takeover bid from Valeant Pharmaceuticals.