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Business



Last Build Date: Mon, 19 Feb 2018 00:30:42 EST

Copyright: copyright © 2018 Dow Jones & Company, Inc.
 



Novartis CEO Steers Drug Maker Back to R&D

Sun, 18 Feb 2018 21:53:42 EST

Vasant Narasimhan, the 41-year-old chief executive at Novartis AG, is vowing data science and digital technologies will revolutionize the company’s drug-development pipeline.



In Cutting Time to Market, Toy Companies Try On Fast Fashion

Sun, 18 Feb 2018 08:00:03 EST

Toy companies are mimicking the moves of fast-fashion retailers as they scramble to produce toys and games tied to the swift rise and fall of trends driven by social media.



The Benefits, and Costs, of Higher Metal Tariffs

Sun, 18 Feb 2018 10:58:59 EST

Aluminum and steel producers hope tariffs under consideration by the Trump administration will heat up demand for their products, but the U.S. remains an expensive place to make the metals.



Budget Likely to Deliver Hefty Business to Defense Companies

Sun, 18 Feb 2018 07:57:01 EST

The recent budget deal has handed U.S. defense companies an extra $75 billion over the next two years as the Pentagon boosts spending on aircraft, missiles, tanks and maintaining older equipment.



Judge Is Asked to Disallow Trump Bias Claims in AT&T Merger Trial

Fri, 16 Feb 2018 19:18:55 EST

The Justice Department asked a federal judge not to allow AT&T Inc.’s defense of its proposed acquisition of Time Warner Inc. to include a claim that the Trump administration improperly challenged the deal for political reasons.



Steve Wynn Will Lose Hundreds of Millions in Severance Amid Sexual-Misconduct Claims

Sat, 17 Feb 2018 18:13:30 EST

Billionaire casino executive Steve Wynn will lose out on collecting hundreds of millions of dollars in severance pay from the company he founded, Wynn Resorts Ltd., following his resignation as chairman and chief executive.



Mattel Ditches High-Tech Barbies, Goes Back to Basics

Fri, 16 Feb 2018 14:54:07 EST

Mattel Chief Executive Margo Georgiadis is shutting down products with extraneous technology from its Barbie lineup and elsewhere in the toy maker’s portfolio.



Coca-Cola Betting Big on Smaller Packages

Fri, 16 Feb 2018 12:14:33 EST

Coca-Cola Co. is betting that smaller packages that command higher prices will boost sales in the company’s struggling soda business this year.



Qualcomm Presses Broadcom After Meeting

Fri, 16 Feb 2018 16:11:49 EST

Qualcomm said while it is open to further discussions with Broadcom it remains against the company’s “best and final” takeover offer.



The Robots Are Coming for Garment Workers

Sat, 17 Feb 2018 18:00:40 EST

Automation is finally invading the garment industry, transforming sweatshops and putting people out of work in poor countries like Bangladesh. For the U.S., that means lower prices and new domestic production possibilities.



EU Opens Investigation of Linde-Praxair Merger

Fri, 16 Feb 2018 12:58:45 EST

European Union antitrust authorities opened an in-depth investigation into plans by industrial-gas giants Praxair and Linde to join forces to create the market’s biggest operator.



Ghosn Takes Huge Pay Cut to Stay at Renault

Fri, 16 Feb 2018 19:09:44 EST

Renaul’s Carlos Ghosn took a steep pay cut after agreeing to remain at the helm of the French car maker for another four years, bowing to a campaign by the French government, one of its main shareholders, against high executive pay.



Inspector General Opens Probe of FCC's Easing of Media-Ownership Rules

Fri, 16 Feb 2018 08:49:59 EST

A federal inspector general has agreed to investigate actions by federal regulators that might benefit Sinclair Broadcast Group Inc. in its efforts to buy Tribune Media Co., according to a top congressman who requested the probe.



Kraft Heinz Hints at Appetite for Deals

Fri, 16 Feb 2018 12:08:32 EST

Kraft Heinz Co. hinted at plans to do more deals. In a presentation to investors, Chief Executive Bernardo Hees said big food makers like Kraft Heinz face pressure to consolidate to confront changing consumer demands for fresher food and more snacks.



Avis Budget's Largest Investor Launches Board-Seat Fight

Fri, 16 Feb 2018 09:00:45 EST

The largest investor in Avis Budget Group Inc. is launching a fight to shake up the rental-car company’s board of directors, a ratcheting up of several years of tension between the two.



GE Begins to Sell Off One of Its Oldest Businesses: Lights

Fri, 16 Feb 2018 11:16:59 EST

General Electric reached a deal to sell parts of its overseas lighting business to a former executive for an undisclosed amount, the first move for the conglomerate to separate with one of its oldest and most iconic businesses.



Roche to Acquire Healthcare-Software Company Flatiron for $1.9 Billion

Thu, 15 Feb 2018 17:14:43 EST

Swiss pharmaceuticals giant Roche Holding S.A. agreed to buy the shares of oncology software company Flatiron Health Inc. that it doesn’t already own for $1.9 billion, increasing its capabilities in cancer medicines.



U.S. Regulators Extend Window for Critical Stroke Treatment

Fri, 16 Feb 2018 13:07:14 EST

The Food and Drug Administration will allow the expanded use of a device, Trevo, that promises to lessen disability in survivors of severe strokes



Trump's Budget Cuts Funding for Manufacturing Program

Thu, 15 Feb 2018 16:11:59 EST

President Trump’s proposed budget calls for eliminating federal funding to a program that supports small manufacturers that the government has said created or protected more than 100,000 jobs in the last fiscal year alone.



There's a Boom in Airline Travel, and Jet Makers Are Making the Most of It

Thu, 15 Feb 2018 17:50:06 EST

Airbus SE and rival Boeing Co. are cashing in on the increasing numbers of airline passengers because the rise is leading carriers to order more planes.



At Thomson Reuters, Tensions Between Family and Board Ratchet Up With Blackstone Deal

Thu, 15 Feb 2018 22:31:31 EST

The board of Thomson Reuters recently pressed ahead with plans to sell a piece of its business to Blackstone Group despite its chairman’s concerns that the company might not be getting the best price.



A Profit at Sears? (There's a Catch)

Thu, 15 Feb 2018 12:46:16 EST

Sears said in a regulatory filing that comparable-store sales fell 15.6% in its latest quarter, but that it expects recent U.S. tax law changes to help it post a profit.



Canadian Residential Real-Estate Activity Plunged in January

Thu, 15 Feb 2018 10:46:37 EST

Canadian residential real-estate activity plunged in January to their lowest in three years as the impact of tougher mortgage-financing rules kicked in. Three-quarters of all major local markets recorded a drop in sales.



Hedge Funds and Investors Adapt to New Realities: WSJ Tax Watch

Thu, 15 Feb 2018 09:44:45 EST

A loophole may be closing that favored hedge funds’ taxes, and worries about inflation and deficits are seen as helping fuel a bond selloff.



LyondellBasell to Buy A. Schulman for $2.25 Billion

Thu, 15 Feb 2018 09:00:33 EST

LyondellBasell Industries plans to buy A. Schulman Inc. for $2.25 billion in a deal it says will help it expand into other businesses.



Tax Law Forces Revamps for Agriculture Firms

Thu, 15 Feb 2018 14:13:41 EST

Ethanol makers and family-owned grain companies are setting up agricultural cooperatives to benefit from a provision in the new tax law that gives farmers larger tax savings for selling crops to that kind of business.



Nestlé Sales Growth Weakens to Slowest in Decades

Thu, 15 Feb 2018 23:03:24 EST

Sluggish U.S. demand limited Nestlé to its slowest sales growth in decades last year, underscoring the challenge facing the Swiss company as it tries to reposition itself as a nimble provider of healthy food and drinks.



Sam Adams Maker Names Dave Burwick as CEO

Thu, 15 Feb 2018 19:00:27 EST

The maker of SamAdams beer hired Peet’s Coffee CEO Dave Burwick as its next chief executive, turning to an “outsider” with sales and marketing experience to help revamp business.



Why That Blockbuster Isn't Coming to Your Home Theater Anytime Soon

Wed, 14 Feb 2018 23:59:24 EST

Hollywood studios’ push to make movies available for home viewing sooner after theatrical release at a premium price is a casualty of Disney’s deal to acquire most of 21st Century Fox.



U.K. Says Russia Behind Cyberattack That Crippled Global Firms

Thu, 15 Feb 2018 08:53:36 EST

British officials blamed Russia for last June’s massive “Petya” cyberattack, which crippled computer networks at multinational firms including FedEx, container-ship giant A.P. Moeller-Maersk and pharmaceutical firm Merck & Co.



AT&T Focuses on DOJ Official in Time Warner Trial

Thu, 15 Feb 2018 05:49:22 EST

AT&T is considering an unusual bid to seek testimony from the Justice Department’s antitrust chief in the coming trial over its $85 billion purchase of Time Warner, part of the companies’ effort to challenge the legitimacy of the government’s lawsuit.



Bunge: Agricultural Firms Need More Than Deals for Profitability

Wed, 14 Feb 2018 11:50:17 EST

Grain trading firm Bunge reported a quarterly loss, and its CEO said agricultural firms can’t count on deals alone to boost profitability as the farm economy struggles.



Sky's Soccer Rights Deal Puts Pressure on Fox to Raise Bid

Wed, 14 Feb 2018 17:16:30 EST

Sky shares rose above the price that 21st Century Fox offered for the British pay-TV giant for the first time since the bid, putting pressure on Rupert Murdoch’s Fox to increase the figure.



Nordstrom Family Tries to Outrun Retail's Woes

Wed, 14 Feb 2018 23:18:42 EST

Nordstrom’s founding family is reinventing their department stores as they restart talks with bankers about financing a buyout—but is the family’s vision enough to survive the industry’s calamities?



Chipotle Picks Taco Bell CEO Brian Niccol to Be Its New Chief

Wed, 14 Feb 2018 09:56:15 EST

Chipotle Mexican Grill named Taco Bell CEO Brian Niccol its next chief executive, tapping a fast-food veteran to try to revive the struggling burrito chain.



A Billion-Dollar Bribery Scandal Sweeps Through the Oil Industry

Wed, 14 Feb 2018 15:00:26 EST

Shell and Eni paid $1.3 billion for rights to a prized offshore oil field in Nigeria. The question of whether the money was mostly a bribe is at the heart of one of the biggest corruption scandals the industry has faced.



Xerox Defends Fujifilm Deal After Icahn Criticism

Tue, 13 Feb 2018 15:34:53 EST

Xerox defended its deal with Fujifilm in a letter to shareholders a day after activist investor Carl Icahn said he would vote against the merger.



Barnes & Noble Cuts Jobs Following Poor Holiday Season

Tue, 13 Feb 2018 11:16:55 EST

Barnes & Noble is laying off a significant number of workers as a result of poor holiday-season results.



Walmart to Trim Store Management Ranks

Tue, 13 Feb 2018 13:02:17 EST

Walmart is cutting some store management jobs as it works to keep labor costs low while investing in higher wages and e-commerce efforts to fend off Amazon.com.



Thomson Reuters CEO Jim Smith Hospitalized

Tue, 13 Feb 2018 09:57:17 EST

Thomson Reuters Corp. president and Chief Executive Jim Smith was hospitalized in Toronto Monday after the company said he was “feeling unwell.”



Broadcom Now Seeks Six Seats on Qualcomm Board

Tue, 13 Feb 2018 11:08:45 EST

Broadcom will nominate six independent directors to Qualcomm’s board, down from its prior target of 11, as it pleads its case with shareholders to move forward a $121 billion takeover bid.



Under Armour Expands Restructuring Plan

Tue, 13 Feb 2018 22:16:47 EST

Under Armour said Tuesday that revenue in its latest quarter rose despite a decline in North America and announced it was pumping up restructuring plans in 2018 as it orchestrates a turnaround.



Wynn Resorts Board Hires New Law Firm to Run Investigation of Ex-CEO Steve Wynn

Tue, 13 Feb 2018 12:03:42 EST

Days after canceling an outside law firm’s investigation into alleged sexual misconduct involving former Chairman and Chief Executive Steve Wynn, a special committee of the Wynn Resorts Ltd. board has hired a new law firm with longstanding connections to the casino company.



Nevada Regulator, Inundated With Reports About Steve Wynn, Starts Website to Field Tips

Mon, 12 Feb 2018 23:35:54 EST

Nevada gambling regulators on Monday introduced a new online system for the public to send in confidential complaints and tips after receiving a number of reports about Steve Wynn in the days after The Wall Street Journal published an article detailing sexual-misconduct allegations against the casino mogul.



Walgreens Makes Takeover Approach to AmerisourceBergen

Tue, 13 Feb 2018 09:15:24 EST

Walgreens Boots Alliance has made a takeover approach to drug distributor AmerisourceBergen, a move that could help boost profitability at the drugstore giant and insulate it against threats in an increasingly competitive health-care landscape.



Fox Offers to Insulate Sky News to Mollify British Regulators

Mon, 12 Feb 2018 17:03:31 EST

21st Century Fox offered to bolster the editorial independence of Sky PLC’s news operations to meet concerns of British regulators and ease approval of its $16 billion bid for the portion of the pay TV giant it doesn’t already own.



Axovant Stock Tumbles After Sweeping Leadership Changes

Mon, 12 Feb 2018 13:54:08 EST

Axovant Sciences made sweeping changes to its top ranks as the company struggles to regain its footing after abandoning its banner Alzheimer’s drug



Icahn: Fujifilm Deal Will Be 'Death Knell' for Xerox

Mon, 12 Feb 2018 13:55:01 EST

Carl Icahn wants to kill Xerox’s deal to cede control to Fujifilm Holdings, opening up what could be a protracted fight over the future of an American icon.



General Dynamics Buying CSRA for $6.8 Billion

Mon, 12 Feb 2018 11:12:31 EST

General Dynamics said it agreed to buy CSRA for $6.8 billion as part of the defense contractor’s push into government IT services.



Starboard Unveils List of Candidates for Newell Board

Mon, 12 Feb 2018 16:37:28 EST

Starboard Value has revealed the 10 candidates it will nominate to Newell Brands’s board as part of a proxy fight launched in response to the conglomerate’s recent performance.



Wynn Resorts Board Cancels Outside Investigation of Steve Wynn's Conduct

Mon, 12 Feb 2018 10:14:08 EST

Wynn Resorts Ltd.’s board of directors said it has stopped an independent law-firm investigation into allegations of sexual misconduct against former Chairman and Chief Executive Steve Wynn.



Big Batteries Are Taking a Bite Out of the Power Market

Mon, 12 Feb 2018 16:17:39 EST

Giant batteries charged by renewable energy are beginning to nibble away at a large market: The power plants that generate extra surges of electricity during peak hours.