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Business



Last Build Date: Tue, 25 Apr 2017 00:30:17 EDT

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



Arconic Delays Annual Meeting, Considers Adding Two Elliott Directors

Tue, 25 Apr 2017 00:12:49 EDT

Aerospace parts maker Arconic Inc. on Monday delayed its much-anticipated annual meeting and tried to defuse a long-running spat with an activist investor that last week forced the company’s chief executive to step down.



Home Builders Brace for Canadian Lumber Tariff Hit

Mon, 24 Apr 2017 22:57:00 EDT

The Trump administration’s proposed 20% tariff on Canadian lumber imports could have the biggest impact on the U.S. home building industry, a sector that has already struggled with higher labor costs since the housing crash a decade ago.



Doctor Dragged From United Flight Initially Expressed Interest in Voucher, Documents Say

Mon, 24 Apr 2017 22:47:29 EDT

The Kentucky physician dragged off a United Airlines flight in Chicago on April 9 was initially interested in the carrier’s offer for an $800 voucher but declined, according to a Chicago Police Department report released Monday.



Express Scripts Says It Will Lose Anthem in 2020

Mon, 24 Apr 2017 17:56:46 EDT

Express Scripts Holding Co. said Monday it doesn’t expect Anthem Inc., its biggest customer, to extend a pharmacy benefits management agreement slated to expire at the end of 2019.



Ivanka Trump Clothes Sold Under Different Label

Mon, 24 Apr 2017 16:54:06 EDT

Ivanka Trump clothing was sold at discount retailer Stein Mart under the label of a different designer, the latest controversy surrounding Ms. Trump’s brand



Jimmy Choo Up for Sale as JAB Holding Steps Back From Luxury

Mon, 24 Apr 2017 14:20:32 EDT

JAB Holding plans to put shoemakers Jimmy Choo and Bally International on the block.



Pension Funds, Foundation Criticize Southern Co. Executive Compensation

Mon, 24 Apr 2017 17:08:07 EDT

Several public pension funds and a foundation issued an open letter to Southern Co. criticizing executive compensation at the Georgia-based utility and urging shareholders to vote against two board members because of the issue.



Hasbro Passes Mattel in Sales for First Time Since 2000

Mon, 24 Apr 2017 14:12:20 EDT

After years of trailing behind Mattel, Hasbro passed its rival in quarterly revenue for the first time since 2000, highlighting the diverging fortunes of the two toy makers.



PPG Raises Bid for Akzo Nobel to $26.4 Billion

Mon, 24 Apr 2017 15:50:56 EDT

Paints giant PPG raised its offer for Dutch rival Akzo Nobel to $26.4 billion, the U.S. firm’s third takeover attempt in a two-month long, unsolicited courtship.



LafargeHolcim CEO to Depart in Wake of Syria Controversy

Mon, 24 Apr 2017 10:56:56 EDT

The Franco-Swiss building-materials company said Eric Olsen will step down on July 15 despite being cleared in an internal review of any wrongdoing regarding the company’s operations in Syria in 2013 and 2014.



Ousted Arconic CEO Kleinfeld Resigns From HP Enterprise Board

Mon, 24 Apr 2017 13:13:55 EDT

Klaus Kleinfeld resigned from the board of Hewlett Packard Enterprise on Sunday, his second exit from a public company’s board since he was ousted as CEO of Arconic last week.



German Arms Makers Go on the Offensive, Aided by Military Spending Boost

Mon, 24 Apr 2017 10:09:38 EDT

German military spending is rising more than at any time since the Cold War. Most of the orders for new equipment and upgrades of existing kit are going to the country’s biggest arms manufacturers.



India Liquor Ruling Adds Twist to Sales Maze

Mon, 24 Apr 2017 12:02:33 EDT

With a ban on alcohol sales near highways, India’s Supreme Court has made selling liquor in India—the world’s biggest whiskey market by volume but one of its most challenging—even harder.



Against All Odds, the U.S. Tobacco Industry Is Rolling in Money

Mon, 24 Apr 2017 12:59:24 EDT

Profits are booming for cigarette companies, despite government regulation, huge legal settlements and a decline in smoking rates. The secret: A consolidated industry has been able to boost the price per pack dramatically.



American Airlines Flight Attendant Suspended After Altercation

Mon, 24 Apr 2017 10:32:10 EDT

A flight attendant for American Airlines was suspended after a video was posted on social media showing him in a heated argument with a passenger who was protesting the way the crew member had treated another customer.



Concert Promoter Alleges Fraud in Planning for Prince Tribute

Sat, 22 Apr 2017 16:21:04 EDT

The concert promoter first hired to produce a Prince tribute concert sued the late pop star’s estate and former administrator and advisers for alleged fraud, the latest cloud over the deals the estate has signed since Prince’s death a year ago.



Spotlight on AT&T's Media Strategy as Wireless Loses Luster

Sun, 23 Apr 2017 09:41:18 EDT

In an attempt to set itself apart from the competition, AT&T Inc. is offering home television through its DirecTV and U-verse brands, and, if regulators bless its pending Time Warner Inc. takeover, discounted access to entertainment on every screen.



Theranos Misled Directors, Ran Fake Tests, Filings Allege

Sun, 23 Apr 2017 00:34:41 EDT

An investor said in newly unsealed court filings that Theranos used a shell company to buy commercial-lab equipment, then pretended it was using its own technology in demonstrations for prospective partners and investors.



Trump Administration Won't Waive Sanctions for Oil Project Exxon Planned in Russia

Mon, 24 Apr 2017 07:33:49 EDT

President Trump has rejected a bid by oil company Exxon Mobil to resume a Black Sea venture with Rosneft, a sanctioned Russian firm close to the Kremlin.



United Says CEO Won't Take Chairmanship

Sat, 22 Apr 2017 05:45:46 EDT

United Continental moved to further stem fallout from the incident in which police dragged off a paying passenger from one of its flights, saying its chief executive Oscar Munoz will no longer be taking on the chairman role and that it will revamp executive compensation incentives.



Brick-and-Mortar Stores Are Shuttering at a Record Pace

Mon, 24 Apr 2017 06:59:17 EDT

Years of overbuilding and the rise of online shopping have come to a head, resulting in the planned closure of thousands of stores by chains such as Payless, RadioShack and Bebe.



Visa Faces Ohio Probe Over Its Debit Cards

Sun, 23 Apr 2017 12:30:07 EDT

Visa’s debit-card practices are under new scrutiny from the Ohio attorney general’s office, including the company’s rules related to the acceptance of its debit cards.



FDA OKs Samsung Bioepis's Biosimilar Version Of J&J's Remicade

Fri, 21 Apr 2017 19:03:32 EDT

Rheumatoid-arthritis drug Renflexis is the South Korean conglomerate’s first biologic to win approval from U.S. regulators.



Gillette's Lawsuit Against Razor Startup Dismissed

Fri, 21 Apr 2017 16:22:00 EDT

A Massachusetts Superior Court justice this week dismissed a lawsuit by Procter & Gamble’s Gillette that accused four former employees of taking company information to the startup ShaveLogic Inc., while allowing a countersuit by the former workers and the startup to move forward.



Sinclair Adds TV Stations in Wake of FCC Decision

Fri, 21 Apr 2017 15:25:37 EDT

Sinclair Broadcast Group said it will buy 14 television stations from a smaller operator, less than 24 hours after federal regulators made changes that could help spur consolidation among television broadcasters.



Judge Slaps VW With $2.8 Billion Criminal Fine in Emissions Fraud

Fri, 21 Apr 2017 13:50:10 EDT

Volkswagen was ordered to pay a $2.8 billion criminal fine for rigging diesel-powered vehicles to cheat on government emissions tests, formalizing a punishment the German auto giant agreed to earlier this year in an unprecedented plea deal with U.S. prosecutors.



Retailer Bebe Plans to Close All Remaining Stores

Fri, 21 Apr 2017 19:18:33 EDT

Bebe Stores Inc. has joined the parade of retailers shedding its brick-and-mortar operations as consumers shift their spending online.



Airlines Bolster First Class, Skimp on Economy

Sat, 22 Apr 2017 05:17:20 EDT

Big airlines are sharply cutting back fares or amenities for their lowest-paying customers, while pulling out the stops for more perks for their premium fliers.



Political Path Narrows for Exxon Deal With Russian Firm

Fri, 21 Apr 2017 10:11:50 EDT

Bipartisan political opposition is taking shape to the request by Exxon Mobil Corp. for a waiver from U.S. sanctions to allow it to drill with Russian state-oil giant PAO Rosneft in the Black Sea.



U.S. Bid to Stem Steel Imports Faces Hurdles

Thu, 20 Apr 2017 20:52:16 EDT

President Trump’s bid to stanch imports flowing into the U.S. steel market is fighting strong currents: Domestic prices that are among the world’s highest and a buoyant dollar that pushes down the cost of imports.



For Verizon, Tables Get Turned on Tablets

Thu, 20 Apr 2017 17:51:28 EDT

As growth in the wireless industry began to slow, carriers gave away tablets and offered data plans for as little as $10 a month. That decision is coming back to haunt the carriers.



FCC Reverses Obama-Era Limits on TV Stations' Owners

Thu, 20 Apr 2017 17:13:47 EDT

Federal regulators reversed an Obama-era rule that has hindered major television-station owners from buying stations or selling themselves, a move that could lead to waves of new deals.



Prince Tribute Concert at Center of New Dispute

Fri, 21 Apr 2017 10:18:44 EDT

The messy affairs of late pop star Prince have become even more tangled, as two of the musician’s half-brothers suggested the bank that previously oversaw the estate’s business may have breached fiduciary commitments.



Tesla Recalls Model S and Model X Vehicles Over Faulty Parking Brakes

Thu, 20 Apr 2017 21:54:42 EDT

Tesla Inc. said Thursday it is recalling 53,000 Model S sedan and Model X sport-utility vehicles over an issue with electric-parking brakes that could prevent them from being released.



Danone Raises Guidance After Closing WhiteWave Buy

Thu, 20 Apr 2017 13:13:57 EDT

Danone, the world’s biggest yogurt maker, raised its guidance for recurring earnings per share growth for 2017, days after closing its $10.4 billion acquisition of WhiteWave.



Abu Dhabi Sovereign Fund Finds New Cash Source as Oil Prices Slump

Thu, 20 Apr 2017 15:28:40 EDT

Abu Dhabi sovereign wealth fund Mubadala has agreed to invest in private equity on behalf of another firm for the first time in a deal worth as much as $750 million with Paris-based Ardian, say people familiar with the matter.



Activist Investor Marcato Seeks Ouster of Buffalo Wild Wings CEO

Thu, 20 Apr 2017 14:08:34 EDT

Activist investor Marcato Capital Management is turning up the heat in its fight with Buffalo Wild Wings, calling on the restaurant chain to replace its chief executive.



FCC Approves Deregulation Plan for Business Data Services

Thu, 20 Apr 2017 12:24:36 EDT

Federal regulators Thursday voted to relax rules on business-to-business data services, such as credit-card readers and ATMs, that have long been regarded as out of date but have proved difficult to update.



CSX's New CEO Promises 'Different Strategy'

Thu, 20 Apr 2017 12:13:09 EDT

CSX Corp. Chief Executive Hunter Harrison promised changes big and small at the railway, from idling excess locomotives to clearing bottlenecks at major interchanges, in his first public remarks since taking the top job last month.



Wal-Mart Brings Price War to Groceries

Thu, 20 Apr 2017 18:26:41 EDT

Wal-Mart’s fight to defend its low-cost reputation is helping to extend the longest food-price decline in decades.



ABB Sales Edged Down at Start of 'Transitional Year'

Thu, 20 Apr 2017 04:22:31 EDT

Swiss engineering and power-grid company’s first-quarter revenue fell slightly to $7.85 billion on year, although net income rose on the divestment of its high-voltage cable business.