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Business



Last Build Date: Mon, 11 Dec 2017 00:30:40 EST

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



Hospital Giants in Talks to Create U.S.'s Largest Operator

Mon, 11 Dec 2017 00:25:01 EST

Ascension and Providence St. Joseph Health are in talks about a possible merger that would put 191 hospitals in 27 states under a single owner, as a series of major deals are poised to consolidate control of the health-care landscape into fewer hands.



Disney Deal for Fox Would End Era of the 'Big Six' Studios

Sun, 10 Dec 2017 19:50:00 EST

Walt Disney would likely significantly scale back Fox’s movie studio if the company nails down a deal to buy most of the assets of 21st Century Fox, as part of Chief Executive Robert Iger’s plan to transform the company into a direct-to-consumer digital powerhouse to rival Netflix.



Qatar, Britain Finalize Deal for 24 Jet Fighters

Sun, 10 Dec 2017 16:02:27 EST

The government of Qatar and British weapons maker BAE Systems have finalized a multibillion deal for 24 combat jets, continuing a weapons buying spree by the Middle East country.



'It's Garage Gold': Luxe Cars Become Investment Vehicles in Persian Gulf

Sun, 10 Dec 2017 13:07:18 EST

The Persian Gulf’s bloc of oil-exporting countries has emerged as the world’s No. 1 market for ultraluxury cars—most costing $250,000 or more—based on per capita buying.



Retail Giant Steinhoff's Share Rout Raises Scrutiny of Transactions

Sat, 09 Dec 2017 11:38:42 EST

The stock market carnage at Steinhoff is raising fresh scrutiny over a set of Byzantine transactions between the global furniture retailer and related parties.



Macy's Executive Chairman Lundgren to Retire

Fri, 08 Dec 2017 17:19:05 EST

Macy’s Executive Chairman Terry Lundgren will retire next month from the board of directors, completing a transition of leadership for the department-store operator announced nearly 18 months ago.



Boeing Gives Up on Fighter-Jet Deal With Canada

Sat, 09 Dec 2017 02:40:34 EST

Boeing Co. said Friday it believes Canada will follow through on its threat and abandon plans to buy 18 F/A-18 Super Hornet aircraft in a $5.2 billion deal, in the latest fallout from heightened trade tensions between Ottawa and Washington.



Pentagon Makes New Push to Put a Laser Weapon on a Fighter Jet

Sat, 09 Dec 2017 02:16:54 EST

Lockheed in November secured a deal to develop a laser for a supersonic F-15 jet capable of disabling a missile or drone from a mile away, the latest push in a decadesold effort that so far has come up empty.



Mexico's Pemex Says Oil Prices, Competition Kept Potential Partners Away

Fri, 08 Dec 2017 14:07:16 EST

Mexican state oil company Petróleos Mexicanos said Friday that moderate oil-price forecasts and competition from Brazil were partly to blame for the dearth of interest in teaming up on a deep-water project in the Gulf of Mexico.



Airports Want to Raise Ticket Fees. Airlines Say No. Fight Ensues

Fri, 08 Dec 2017 21:10:46 EST

Airports and airlines are fighting over a proposal that could bump up the taxes and fees on a typical $300 round-trip ticket to more than $70.



Big Oil Backs Away From a Former Industry Darling

Fri, 08 Dec 2017 16:44:46 EST

Angola was once a magnet for the world’s biggest oil companies, drawing billions of dollars in investment from BP, Exxon Mobil and others. Now, foreign companies have all but given up on new ventures there.



Music-Streaming Giants Spotify and Tencent Music Swap Stakes

Fri, 08 Dec 2017 12:12:09 EST

Sweden’s Spotify AB and internet giant Tencent Holdings Ltd. of China confirmed they are making joint equity investments in each other’s music streaming businesses, connecting two of the world’s largest digital music platforms.



With Disney-Fox Talks, Hopes Rise for a Greenlight on Sky

Fri, 08 Dec 2017 15:16:34 EST

If Disney or another suitor buy 21st Century Fox’s international assets, investors are betting U.K. regulators will allow the full acquisition of pay-TV operator Sky.



Mine the Gap: More Women Embrace Mining Careers

Fri, 08 Dec 2017 12:54:53 EST

More women are heading to remote mines, as big companies diversify their workforces and technology transforms the industry. The payoff: Safer, more productive mines.



Caterpillar Unit Cheated Customers, Tossed Evidence Into Ocean to Hide It

Fri, 08 Dec 2017 12:23:27 EST

United Industries, a unit of Caterpillar, admitted that it cheated customers by performing unnecessary repairs to their railcars and pleaded guilty to dumping brake shoes and other parts into the ocean to hide evidence.



Judge Sets March 19 as Start Date for AT&T-Time Warner Antitrust Trial

Thu, 07 Dec 2017 21:19:26 EST

The judge who will be overseeing the antitrust trial involving AT&T’s proposed acquisition of Time Warner has set March 19 as the trial’s start date, warning the companies he cannot reach a decision by the time their merger agreement expires on April 22.



AT&T Antitrust Fight Flips the Script in Washington

Fri, 08 Dec 2017 10:14:50 EST

AT&T’s bid to buy Time Warner is blurring some of the ideological lines that usually split free-market conservatives from liberal skeptics of big business.



GE Cuts 18% of Jobs in Power Unit After Misjudging Demand

Fri, 08 Dec 2017 12:34:43 EST

GE said it was cutting 12,000 jobs in its power business, or nearly 20% of the unit’s workforce, as the conglomerate slashes costs and battles overcapacity in its core business.



Sleepy's Owner Steinhoff: Accounting Issues Could Affect $7 Billion in Assets

Thu, 07 Dec 2017 21:17:50 EST

Steinhoff International Holdings said accounting irregularities disclosed Wednesday could affect the valuation and “recoverability” of as much as $7.09 billion worth of assets as South Africa’s Financial Services Board starts an independent investigation into the company.



Wall Street Tells Frackers to Stop Counting Barrels, Start Making Profits

Thu, 07 Dec 2017 00:30:13 EST

The shale-oil revolution boosted production and made America the world’s oil-and-gas champion. Now, shareholders are insisting producers stop counting barrels and start chasing higher returns.



Engine Trouble Grounds Some Air New Zealand Flights

Wed, 06 Dec 2017 23:44:31 EST

Air New Zealand experienced two separate issues with engines on Boeing 787-9 aircraft this week that forced the planes to turn back to Auckland.



Ford to Move Electric Car Production to Mexico

Thu, 07 Dec 2017 15:35:34 EST

Ford plans to produce a future electric car in Mexico, reversing plans announced in January to make its Flat Rock, Mich., assembly plant its main electric-vehicle production site.



Iger Likely to Stay On as Disney CEO Past 2019 if Fox Deal Is Reached

Thu, 07 Dec 2017 06:31:37 EST

Walt Disney Co.’s possible purchase of the entertainment assets of 21st Century Fox could mean more time for Robert Iger as chief executive of Disney.



CoStar and Xceligent Near Legal Settlement Over Data-Theft Suit

Thu, 07 Dec 2017 10:38:39 EST

CoStar Group Inc., a big provider of commercial real estate data, is in advanced talks with rival Xceligent to settle the lawsuit CoStar filed alleging Xceligent was involved in theft of its data.



VW Manager Sentenced to 7 Years in Emissions Fraud

Thu, 07 Dec 2017 10:39:56 EST

A Volkswagen manager was sentenced to seven years imprisonment and will pay a $400,000 fine for participating in the German auto giant’s emissions fraud.



Shari Redstone Emails Illuminate Family Tensions, War for Viacom

Wed, 06 Dec 2017 20:07:09 EST

Emails cited in a California court case shed new light on Shari Redstone’s battle with top Viacom Inc. executives and tensions with her father, media mogul Sumner Redstone.



Mexico's Auto Production and Exports Having a Record Year

Wed, 06 Dec 2017 15:46:41 EST

Mexico’s production and exports of light vehicles this year through November have already surpassed the record levels set in 2016 as demand increases from the U.S. and Canada, auto industry officials said Wednesday.



Wal-Mart's New Name: It's Not Just a Store Anymore

Wed, 06 Dec 2017 16:53:20 EST

Wal-Mart Stores will shorten its legal name to Walmart, highlighting the company’s shift from traditional stores toward competing online with Amazon.



Shares in Sleepy's Owner Steinhoff Plunge on Accounting Probe

Wed, 06 Dec 2017 15:30:01 EST

Retail giant Steinhoff International, which owns American mattress brand Sleepy’s and a string of chains across Europe, said its chief executive has resigned amid an investigation into accounting irregularities.



Women Jointly Sue Weinstein Over Alleged Assaults

Wed, 06 Dec 2017 17:28:03 EST

Six women filed a lawsuit against Harvey Weinstein on Wednesday, claiming the movie producer’s actions to cover up sexual assaults amounted to civil racketeering.



Behind the Murdochs' Sale Talks: Scale, Price and Family Dynamics

Wed, 06 Dec 2017 11:22:10 EST

Premium offers for Fox assets from Disney and Comcast found a receptive audience from Rupert Murdoch amid concerns about the media landscape. A deal could come as early as next week and could clarify the empire’s leadership structure.



Luxury Brands Win Right to Block Sale of Goods on Amazon in Europe

Fri, 08 Dec 2017 04:26:18 EST

Luxury brands can restrict retailers from selling their products on web platforms like Amazon and eBay to protect their image, the European Union’s top court has ruled.



Cineworld to Buy Regal in $3.6 Billion Movie Theater Deal

Wed, 06 Dec 2017 09:28:02 EST

British movie theater operator Cineworld has agreed to buy American counterpart Regal for $3.6 billion, creating the world’s second-largest cinema operator.



Walgreens Takes Stake in Chinese Pharmacy Chain

Wed, 06 Dec 2017 07:43:14 EST

Walgreens Boots Alliance agreed to take a 40% stake in Chinese retail-pharmacy company Sinopharm Holding Guoda Drugstores for about $418 million.



Home Depot to Launch $15 Billion Share Buyback

Wed, 06 Dec 2017 09:54:02 EST

Ahead of an analyst meeting Wednesday, Home Depot said it would launch a $15 billion share buyback program and pledged to accelerate investments in its business as the retail landscape continues to change.



Charlie Ergen Steps Down as Dish CEO to Focus on Wireless Business

Tue, 05 Dec 2017 16:39:56 EST

Dish Network Corp. said Charlie Ergen has stepped down from his role as chief executive to focus on the company’s fledgling wireless business.



UPS, Overwhelmed by Online Orders, Warns of Delivery Delays

Wed, 06 Dec 2017 01:13:32 EST

United Parcel Service Inc. is struggling to handle the surge in shipments from online shoppers, resulting in delivery delays early in the critical holiday season and prompting the carrier to a push drivers to work extra hours.



Duke Energy Says Some Customers May Be Affected by Data Breach

Tue, 05 Dec 2017 17:02:19 EST

Duke Energy Corp. said Tuesday some of its customers may have been affected by a data breach revealed by PayPal Holdings Inc. last week.



Japan Airlines Invests in Fledgling Supersonic Aircraft Company

Tue, 05 Dec 2017 15:41:45 EST

Japan Airlines has become the first carrier to invest in Boom Technology, a U.S. startup seeking to build a faster-than-sound airliner capable of flying more than four dozen passengers to Tokyo from the West Coast in roughly five hours.



Nestlé to Buy Atrium Innovations for $2.3 Billion

Tue, 05 Dec 2017 16:18:07 EST

Nestlé said it agreed to buy Atrium Innovations, a Canadian vitamin maker, for $2.3 billion from a consortium of investors led by private-equity firm Permira.



Facebook's Messenger Platform Stopped Briefly For Some Users

Tue, 05 Dec 2017 10:19:46 EST

Facebook Inc.’s Messenger chat platform stopped working for several hours for some users Tuesday morning, a technical hiccup as the company ramps up its focus on person-to-person communication.



Wyndham's European Vacation Rental Sale Could Get Bids of Over $1 Billion

Tue, 05 Dec 2017 09:12:58 EST

U.S. hospitality group Wyndham Worldwide may receive bids of more than $1 billion from buyout firms for its European vacation rentals business, people familiar with the situation said.



Zions Accidentally Releases Unverified Company Data

Tue, 05 Dec 2017 10:31:17 EST

Zions Bancorp said it accidentally sent an email Monday with financial data that hasn’t been audited or verified.



Cinemark Theaters Jumps Into the Subscription Business

Tue, 05 Dec 2017 09:36:27 EST

Cinemark Holdings, the third-largest U.S. cinema chain by locations, is launching a subscription service charging $8.99 a month that would allow members to one film a month and get a 20% discount on concessions.



'House of Cards' Will Return on Netflix, Without Spacey

Mon, 04 Dec 2017 20:45:31 EST

“House of Cards” will return on Netflix for one more season, ending speculation that the sexual harassment scandal that led to the firing of actor Kevin Spacey would also end the political drama.



Businesses Push to Repeal Corporate AMT

Tue, 05 Dec 2017 14:18:09 EST

Technology, banking and other industries mounted a new round of lobbying Monday to save a wide range of tax breaks following the last-minute switch in the federal tax overhaul by the U.S. Senate.



Montana Is Latest State to Sue Purdue Pharma Over Opioid Crisis

Tue, 05 Dec 2017 08:37:39 EST

Montana has become the latest state to sue Purdue Pharma LP for its alleged role in the opioid crisis, as the maker of OxyContin presses for joint talks with states to resolve similar, widespread accusations.



GNC Hires Adviser---Again---to Explore Alternatives

Mon, 04 Dec 2017 12:25:12 EST

GNC Holdings hired an adviser to explore strategic alternatives nearly three months after it brought in a new chief executive.



Crown Resorts Vows to Defend Against Class Action on China Arrests

Mon, 04 Dec 2017 11:39:53 EST

A new lawsuit alleges Crown Resorts Ltd. misled investors about the risks involved in its efforts to woo Chinese high-rollers, the latest fallout for the Australian casino operator after its employees were arrested in China for gambling crimes last year.