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Business



Last Build Date: Thu, 23 Feb 2017 00:36:14 EST

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



Judge Rules Against California Law Allowing Actors to Hide Age on IMDB

Wed, 22 Feb 2017 20:58:16 EST

A new California law that is supposed to help movie actors hide their ages from the public almost certainly violates the First Amendment and may not be enforced for now, a federal judge ruled Wednesday.



Exxon Lowers Proved Reserve Estimates

Wed, 22 Feb 2017 19:53:02 EST

Extremely low energy prices during 2016 forced Exxon Mobil Corp. on Wednesday to lower its estimate of proved oil and gas reserves in the ground that the company controls.



Immigrant Crackdown Worries Food and Construction Industries

Wed, 22 Feb 2017 21:38:53 EST

U.S. companies are girding for fallout from the Trump administration’s moves to tighten immigration enforcement, with farmers, food companies and builders among those bracing for possible deportations of workers that some fear could leave businesses short-staffed.



Unilever Launches Review After Rejecting Kraft Heinz Offer

Wed, 22 Feb 2017 18:25:18 EST

Consumer-goods group Unilever said it was embarking on “comprehensive” review to wring out more value for shareholders, just days after rejecting a $143 billion offer from Kraft Heinz.



Brad Grey to Step Down as CEO of Viacom's Paramount Pictures

Wed, 22 Feb 2017 16:38:11 EST

Viacom confirmed that Paramount Pictures Chief Executive Brad Grey will step down after 12 years in that role, and his reports will carry the mantle until a replacement is found.



Hudson's Bay Is Accused of Deceptive Mattress Marketing

Wed, 22 Feb 2017 15:49:21 EST

Canada’s antitrust watchdog filed legal action to end what it describes as “deceptive” marketing practices by Hudson’s Bay Co. regarding the sale of mattresses.



Second Theranos Lab Has Blood-Testing License Revoked

Wed, 22 Feb 2017 15:48:36 EST

A lab run by blood-testing firm Theranos in Arizona put patients at risk and failed to quickly fix its deficiencies, a regulator found, triggering a new round of sanctions by the U.S. agency against the company.



Dow, DuPont on Track to Get Merger Approval From EU

Wed, 22 Feb 2017 12:39:17 EST

Dow Chemical Co. and DuPont Co. are on track to win regulatory approval from the European Union’s competition watchdog after the companies offered to sell businesses to ease antitrust concerns, people familiar with the matter said.



ABB Is the Latest Company Hit by Corporate Theft

Wed, 22 Feb 2017 10:27:29 EST

Swiss engineering company ABB has accused an employee at its South Korean subsidiary of stealing money from the company, resulting in a likely $100 million charge, in potentially one of the biggest in a long list of corporate thefts.



ABB Takes $100 Million Charge After 'Criminal Scheme' at South Korea Unit

Wed, 22 Feb 2017 23:57:04 EST

Swiss engineering firm ABB said it would likely book a $100 million charge related to a “sophisticated criminal scheme” it said was orchestrated by the treasurer of its South Korea unit, who has gone missing.



Saudi Aramco, Petronas to Sign Joint-Venture Agreement

Wed, 22 Feb 2017 12:57:11 EST

Saudi Arabian Oil Co., or Saudi Aramco, and Malaysia’s national oil company plan to sign an agreement Monday to jointly develop an up to $20 billion refining and petrochemicals project in the southern state of Johor, according to three people familiar with the matter.



Peugeot Chief Seeks to Turn from Hunted to Hunter

Wed, 22 Feb 2017 10:36:07 EST

Peugeot CEO Carlos Tavares spent his first three years in the repair shop, working to fix a French auto maker that many thought had seen its best days. Now he is ready to drive the company onto the world stage.



Wal-Mart, Home Depot Show Big Box Stores Aren't Dead

Tue, 21 Feb 2017 20:56:33 EST

Wal-Mart and Home Depot showed they can still find ways to entice shoppers to their physical stores, despite a continuing consumer shift toward online buying.



Starboard Takes 6.6% Stake in Tribune Media

Wed, 22 Feb 2017 10:23:10 EST

Hedge fund Starboard Value LP has opened a 6.6% stake in Tribune Media Co. but has no immediate plans to push for change.



Carl Icahn Takes Stake in Bristol-Myers

Wed, 22 Feb 2017 12:47:40 EST

The same day Bristol-Myers Squibb shook up its board to satisfy one activist investor, the drugmaker was faced with another: Carl Icahn, whose interest is fueling speculation the company could soon be put on the auction block.



Woodside Annual Profit Jumps as Production Rises

Tue, 21 Feb 2017 17:47:46 EST

Woodside Petroleum’s profit rebounded last year as production rose and the oil-and-gas producer didn’t see a repeat of the hefty charges that nearly tipped it to a loss in 2015.



Canada's Maple Leaf Foods Buys Maker of Meatless Products

Tue, 21 Feb 2017 17:19:07 EST

Canadian meat company Maple Leaf Foods said it was acquiring Lightlife Foods, a company specializing in vegetarian sausages and burgers, for $140 million.



United Continental Unveils 'Basic Economy' Cheaper Tickets

Tue, 21 Feb 2017 14:36:18 EST

American Airlines Group and United Continental Holdings separately introduced the first of their cheaper economy-class fare options that come with passenger restrictions.



Vail Resorts to Buy Stowe Mountain Resort Operations From AIG

Tue, 21 Feb 2017 22:31:26 EST

Vail Resorts said it would buy the ski operations of Stowe Mountain Resort in northern Vermont for about $50 million from the real-estate business of insurance giant American International Group.



CSX Chief to Retire as Hunter Harrison Vies for Position

Tue, 21 Feb 2017 13:26:25 EST

CSX said that Michael Ward, its chairman and chief executive, will retire in May as railroad veteran Hunter Harrison and an activist investor try to shake up the company and grab the top spot.



UPS to Start Ground Deliveries on Saturdays

Tue, 21 Feb 2017 13:23:08 EST

United Parcel Service said it would start making ground deliveries on Saturdays and showed off a drone delivery test, part of broader investments by the carrier to try to keep up with the shift to online shopping.



Owner of Burger King and Tim Hortons to Buy Popeyes

Tue, 21 Feb 2017 18:27:50 EST

Restaurant Brands, the owner of Burger King and Tim Hortons, said it would buy Popeyes Louisiana Kitchen for about $1.64 billion. Executives said they see huge growth potential for Popeyes in Asia.



Boeing Looks to Build Satellites More Quickly, With Fewer Workers

Tue, 21 Feb 2017 22:17:33 EST

Boeing is taking steps to build satellites more quickly through new production practices that will rely more on 3-D printing and involve fewer workers.



Nascar, Once a Cultural Icon, Hits the Skids

Wed, 22 Feb 2017 12:57:05 EST

Stock-car racing’s founding family draws criticism from drivers and team owners as fan interest burns down and sponsors retreat; ‘economics and demographics.’



Nascar Driver Brad Keselowski Sees Turnaround Ahead

Tue, 21 Feb 2017 10:29:43 EST

Racing-format changes will help the sport, 2012’s top driver predicts.



Tiffany to Add Board Members in Deal with Jana

Tue, 21 Feb 2017 08:48:45 EST

Tiffany & Co. and activist investors reached a deal to add board members and oversee the jewelry company’s search for a new chief executive.



Bristol-Myers Expands Board, Boosts Buybacks Amid Activist Pressure

Tue, 21 Feb 2017 08:32:45 EST

Bristol-Myers Squibb, under pressure from an activist investor, said Tuesday it would name new members to its board and increase its share buybacks.



Organic Food Sales Are Booming; Why Are American Farmers Crying Foul?

Tue, 21 Feb 2017 21:14:05 EST

Organic grain is flooding into the U.S., pushing down prices despite strong sales of organic foods. U.S. farmers contend their crops are held to stricter standards than foreign-raised crops.



Caesars Unit Secures New Loans

Tue, 21 Feb 2017 07:57:29 EST

Caesars Entertainment Operating and parent Caesars Entertainment said that CEOC had secured new credit facilities of up to $1.44 billion as it works through its restructuring process.



Telefónica Sells Telxius Stake in Debt-Reduction Drive

Tue, 21 Feb 2017 07:51:16 EST

Telefónica has agreed to sell up to 40% of its Telxius infrastructure unit to KKR & Co. as the Spanish telecommunications giant seeks funds to whittle down its debt.



Tyson Seeks Lead in No-Antibiotics Poultry

Tue, 21 Feb 2017 13:13:08 EST

Tyson Foods Inc. plans to eliminate antibiotics used on poultry in its flagship chicken products, as the largest U.S. meat company mounts a new push to burnish its brands.



Dalian Wanda's Dick Clark TV Deal Hits Hurdle

Wed, 22 Feb 2017 21:58:40 EST

The $1 billion purchase of Dick Clark Productions by China’s Dalian Wanda has stalled amid Beijing’s clampdown on capital leaving the country.



Failed $143 Billion Deal Raises Pressure on Unilever, Kraft

Tue, 21 Feb 2017 12:30:31 EST

Deal talks between Kraft and Unilever are dead, but both consumer-goods giants now find themselves under heightened pressure to make bold moves to accelerate growth.



Toys "R" Us Lays Off 10%-15% of Corporate Employees

Tue, 21 Feb 2017 09:14:19 EST

Toys “R” Us Inc. recently laid off between 10% and 15% of its corporate employees, the latest retailer to cut jobs as shopping rapidly shifts from physical stores to online ones.



Samsung Heir, Seeking to Modernize Opaque Culture, Instead Faces Scandal

Tue, 21 Feb 2017 11:17:46 EST

Lee Jae-yong took the South Korean conglomerate’s reins vowing to reshape it along Silicon Valley lines. Now a corruption probe has dragged him in, raising the biggest doubts yet about whether he has ushered the corporate giant into a new era.



Kraft's Interest in Unilever Comes Right Out of 3G's Playbook

Tue, 21 Feb 2017 06:14:37 EST

Behind Kraft’s short-lived bid for rival packaged-food giant Unilever is a basic conundrum: The company is running out of ways to improve profitability through its own cost cuts.



Brazil's Vale Seeks Single Class of Stock

Tue, 21 Feb 2017 10:02:45 EST

Brazilian mining giant Vale SA announced a plan to create a single class of stock without a controlling shareholder, likely reducing the potential for government interference in what management characterized as a watershed for the company.