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Business



Last Build Date: Thu, 27 Jul 2017 00:31:20 EDT

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



Viacom Out of the Running for Scripps Networks

Wed, 26 Jul 2017 23:18:14 EDT

Viacom is out of the running to acquire Scripps Networks Interactive, leaving Discovery Communications as the only remaining suitor in talks to purchase the cable TV programmer, people familiar with the situation said.



Former Fiat Chrysler Executives Charged With Making Illegal Payments to UAW Leaders

Wed, 26 Jul 2017 22:42:22 EDT

A federal grand jury indicted a former Fiat Chrysler Automobiles executive on charges he made illegal payments to United Auto Workers union leaders and pocketed money from a fund set up to train workers, U.S. officials said.



McKesson Shareholders Reject Executive Compensation Packages

Wed, 26 Jul 2017 17:11:29 EDT

McKesson shareholders rejected the company’s compensation package for its executives, in a rebuke to the pharmaceutical wholesaler following a Teamsters-led campaign against McKesson’s pay practices and its distribution of prescription opioids.



Katy Industries Creditors Sue Buyer of Manufacturing Plants

Wed, 26 Jul 2017 17:16:41 EDT

Unpaid creditors of Katy Industries have sued to undo the recent sale of the bankrupt company’s three Midwest manufacturing plants, arguing one of the buyers improperly used money it had previously made available to Katy as currency in the purchase.



Avianca to Halt Venezuela Flights

Wed, 26 Jul 2017 14:57:29 EDT

Avianca one of Latin America’s largest airlines, said Wednesday it will suspend flights to and from Venezuela, becoming the latest international carrier to drop the increasingly isolated and economically crippled nation.



Bass Pro Shops to Pay $10.5M to Settle Discrimination Suit

Wed, 26 Jul 2017 14:24:47 EDT

Bass Pro Shops will pay $10.5 million to settle a lawsuit brought by the U.S. Equal Employment Opportunity Commission that alleged the outdoor-goods retailer discriminated against minorities in its store hiring practices.



Chipotle Gets Subpoena After Virginia Norovirus Outbreak

Wed, 26 Jul 2017 14:07:48 EDT

Chipotle Mexican Grill Inc. said it received a subpoena related to a recent norovirus outbreak in a Virginia location, an indication that a federal criminal investigation into the chain’s food safety problems is widening.



Critics Fume About U.K. Move on Diesel, Gasoline Cars

Wed, 26 Jul 2017 12:50:26 EDT

The U.K.’s plan to ban the sale of vehicles with gasoline and diesel engines beginning in 2040 has failed to win over some critics.



Agco to Acquire Precision Planting From Monsanto

Wed, 26 Jul 2017 12:20:42 EDT

Farm equipment manufacturer Agco will acquire a line of high-tech planting equipment from Monsanto after the seed company abandoned plans to sell the unit to Deere under pressure from the Justice Department.



Cemex's Profit Rises Amid Lower Expenses

Wed, 26 Jul 2017 11:55:20 EDT

Mexican cement and buildings materials company Cemex reported a 41% gain in second-quarter profit, benefiting from lower financial expense while sales were little changed from a year earlier.



U.K. to Ban Sale of Diesel, Gasoline Vehicles by 2040

Wed, 26 Jul 2017 22:54:48 EDT

The U.K. said it would ban the sale of cars powered by traditional internal-combustion engines by 2040, joining other European regulators in a bold push toward electric cars that remain unpopular in the mass market.



Norfolk Southern Says It's Winning Customers From CSX

Wed, 26 Jul 2017 11:43:41 EDT

Norfolk Southern says it is starting to win over customers to its railway amid disruptions at rival CSX, whose network is undergoing an extensive overhaul under a new chief executive.



U.S. Steel Names Kevin Bradley as CFO

Wed, 26 Jul 2017 10:38:01 EDT

United States Steel said Wednesday that it named Kevin Bradley its chief financial officer, continuing a revamping of its leadership team following the appointment of a new chief executive in May.



Markel to Buy State National for $919 Million

Wed, 26 Jul 2017 09:43:19 EDT

Markel has reached to a deal to buy State National for $919 million in cash, the property- and casualty-insurance companies said Wednesday.



Brazil's JBS in Deal with Banks to Renegotiate Debt

Wed, 26 Jul 2017 10:09:13 EDT

Brazilian meatpacking giant JBS SA reached a deal with banks to renegotiate about  20.5 billion reais ($6.5 billion) in debt as part of a broader effort to address the fallout of a massive bribery scandal.



China Overhaul of State Companies Nears Modernization Milestone

Wed, 26 Jul 2017 18:10:39 EDT

Beijing is close to completing a long-targeted overhaul of operations at its state-owned enterprises, known as SOEs, saying that a modernization of their corporate structures will be finished by year’s end.



Investors to Big Oil: Restrain Yourselves

Wed, 26 Jul 2017 21:52:39 EDT

Three years into an oil-price slump, investors want the world’s biggest oil companies to do something they have historically struggled with: Maintain some financial discipline.



Whole Foods Markets Earnings: What to Watch

Wed, 26 Jul 2017 07:00:04 EDT

Whole Foods Market Inc. is scheduled to report third-quarter earnings after the closing bell Wednesday, its first since Amazon.com Inc. said it was buying the troubled natural grocer for $42 a share.



Trump Tower Mumbai Plays Up Connection to President

Wed, 26 Jul 2017 22:31:31 EDT

Promotional materials for the Trump Tower in Mumbai improperly featured a reference to President Donald Trump, showing how difficult it is to separate the president from a brand whose value is based on his name.



Fox Faces Lawsuit From Former Executive Accused of Sexual Assault

Wed, 26 Jul 2017 10:51:09 EDT

Francisco Cortes, a former Fox News executive who left the company after being accused of sexual assault and harassment by an on-air contributor, has sued the channel’s parent, 21st Century Fox, alleging fraud and breach of contract.



Time Inc. Explores Sale of U.K. Magazine Division

Tue, 25 Jul 2017 19:56:09 EDT

Time Inc. has hired an investment bank to explore a possible sale of its Time Inc. UK division and is in early-stage discussions with potential buyers, according to a person familiar with the situation.



Petronas Ends Canadian LNG Project

Tue, 25 Jul 2017 22:05:49 EDT

Malaysian state-owned energy company Petronas said it was ending its multibillion-dollar plan to build a natural-gas export terminal on Canada’s west coast, saying prolonged low natural-gas prices doomed the project.



Celgene Settles Lawsuit Over Improper Promotion of Cancer Drugs

Wed, 26 Jul 2017 13:25:38 EDT

Drugmaker Celgene Corp. agreed to pay $280 million to the U.S. and many state governments to settle a former sales manager’s lawsuit accusing the company of improperly promoting two cancer drugs and causing false reimbursement claims to be submitted to federal and state health-insurance programs.



Chipotle Earnings Improve, But Customers Aren't Flocking Back

Wed, 26 Jul 2017 10:04:04 EDT

Chipotle Mexican Grill offered mixed financial results on Tuesday, as it continues to struggle to bring back customers despite giving away food and airing its first national ad campaign.



Blue Apron Co-Founder to Step Aside as Operating Chief

Tue, 25 Jul 2017 18:41:29 EDT

Blue Apron said co-founder Matthew Wadiak will step down as chief operating officer and serve as a senior adviser to the food-delivery startup



Michael Kors Shops for Glamour, Buys Jimmy Choo for $1.2 Billion

Tue, 25 Jul 2017 16:02:42 EDT

Luxury-fashion company Michael Kors has reached a deal to buy Jimmy Choo for around $1.2 billion, giving it a new avenue for growth as its core handbag market slows.



UTC Warns Jet Makers That Poaching Service Business Will Mean Higher Prices

Tue, 25 Jul 2017 14:18:44 EDT

United Technologies Corp.’s boss warned Tuesday that the company may need to raise prices for its jet engines and aerospace parts, if airplane makers try to steal some of its lucrative maintenance business.



Forget the Airport Lounge,Pet the Miniature Horses

Wed, 26 Jul 2017 00:03:19 EDT

Miniature horses are part of a program at Cincinnati/Northern Kentucky Airport to help passengers with the stress of flying.



Viacom CEO Considers Costly Scripps Networks Acquisition

Tue, 25 Jul 2017 18:55:35 EDT

Viacom CEO Bob Bakish is contemplating what would be his boldest bet yet: an acquisition of Scripps Networks, operator of HGTV and Food Network. People familiar with the situation say Viacom is in talks to acquire the company, as is Discovery Communications.



Toyota Nears Breakthrough in Electric-Car Batteries

Tue, 25 Jul 2017 10:42:18 EDT

Toyota Motor said it was nearing a major technological breakthrough in electric-car batteries, as the world’s second-largest car maker accelerates its push to build all-electric vehicles.



Sony Restructures Television Unit

Mon, 24 Jul 2017 19:59:19 EDT

Sony Pictures Entertainment has restructured its television production unit in the wake of two top executives departing last month to oversee’s push into creating original content.



AbbVie Ordered to Pay $150 Million in AndroGel Lawsuit

Tue, 25 Jul 2017 10:55:43 EDT

A federal-court jury in Chicago ordered drugmaker AbbVie to pay $150 million in punitive damages to an Oregon man after finding the company liable for fraudulent misrepresentations about the safety of the testosterone-replacement therapy AndroGel, according to court records.



Arconic Weighs in on London Fire

Tue, 25 Jul 2017 04:09:46 EDT

Arconic Interim Chief Executive David Hess expressed sympathy for the victims of a deadly fire last month in London’s Grenfell Tower, but stressed the company had no control over the use of its aluminum panels on the building’s exterior.



Time Looks to Sell Majority Stake in Essence

Mon, 24 Jul 2017 18:03:33 EDT

Time Inc. is looking to sell a majority stake in Essence, the first big move by the publisher since it decided against selling the entire company this spring.



KKR to Buy WebMD in $2.8 Billion Deal

Mon, 24 Jul 2017 22:16:13 EDT

KKR has reached a deal to buy WebMD Health Corp. for $2.8 billion. The New York-based health-information provider had been running an auction after publicly putting itself in play earlier this year.



KKR Near Deal to Buy WebMD

Sun, 23 Jul 2017 22:42:50 EDT

Private-equity firm KKR is nearing a deal to buy health-information provider WebMD Health, according to people familiar with the matter.



Boeing, Flying High, Stays the Course on Job Cuts

Mon, 24 Jul 2017 07:33:36 EDT

Boeing pressed forward with an efficiency push, cutting 6,000 staff, or 4% of its workforce in the first half, its fastest pace in a decade, as its stock hit new records.