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Business



Last Build Date: Thu, 23 Mar 2017 00:30:06 EDT

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Checkers Drive-In Restaurants Agrees to Be Sold for $525 Million

Thu, 23 Mar 2017 00:04:04 EDT

Checkers Drive-In Restaurants has agreed to be sold to private-equity firm Oak Hill Capital Partners for $525 million in a deal expected to be announced on Thursday.



Sinopec to Buy Chevron's South Africa Assets for $900 Million

Wed, 22 Mar 2017 21:13:46 EDT

China’s Sinopec said it plans to buy a controlling stake in Chevron’s South Africa assets for roughly $900 million, as the state-owned refining giant looks to spread its global reach.



Long a Crutch for Hollywood, Overseas Ticket Sales Slip in 2016

Wed, 22 Mar 2017 19:27:25 EDT

The Motion Picture Association of America reports international box office edge lower in 2016—a troubling reversal for an industry that has come to rely on overseas consumers as stateside attendance stagnates.



Sears Stock Stumbles After Going-Concern Warning

Wed, 22 Mar 2017 19:16:05 EDT

Sears raised doubts in a securities filing about its ability to keep operating after seven years of losses, sending the retailer’s share price tumbling and spooking some of its landlords.



Gawker Founder Nick Denton to Leave Bankruptcy

Wed, 22 Mar 2017 18:17:41 EDT

Nick Denton will leave bankruptcy having weathered a multimillion-dollar judgment from an invasion-of-privacy lawsuit that forced the sale of his Gawker media business.



Supreme Court Cheers Fashion Designers in a Copyright Case

Wed, 22 Mar 2017 17:57:57 EDT

In a Supreme Court case about cheerleader uniforms, fashion designers have something to cheer. The court said clothing designers can claim copyright protections for garments with distinctive artistic features.



Elliott Threatens to Force Akzo Nobel to Engage With PPG

Wed, 22 Mar 2017 17:32:28 EDT

U.S. activist investor Elliott Management has emerged as a key player in a $24 billion, trans-Atlantic standoff between Akzo Nobel and PPG Industries, two of the world’s oldest industrial companies.



Starbucks Pledges to Hire More Veterans

Wed, 22 Mar 2017 17:19:56 EDT

Starbucks Corp. plans to hire more U.S. military veterans and their spouses after facing backlash over its promise to hire refugees.



Retro 'Space Jam' Hit Fails to Solve Nike's Sales Woes

Wed, 22 Mar 2017 23:17:56 EDT

Nike said a sneaker homage to the cult classic film “Space Jam” was a smash hit, but the retro shoes were a rare highlight in otherwise troubling results for the world’s largest athletic company.



Nike Shares Drop After Tepid Earnings Forecast

Wed, 22 Mar 2017 16:32:17 EDT

Shares of Nike fell after the world’s largest sportswear maker gave a tepid outlook for sales growth as the company faces stiff competition and a changing retail landscape.



Gas Natural Goes After Colombia Over Utility Seizure

Wed, 22 Mar 2017 16:16:20 EDT

Gas Natural, one of Spain’s largest utility providers, said it was filing a suit against Colombia after the government seized one of its companies, the latest example of an increase in legal claims that investors have brought against governments in international arbitration courts.



AT&T Workers Walk Off the Job in California, Nevada

Wed, 22 Mar 2017 15:59:54 EDT

Thousands of AT&T Inc. wireline technicians and call-center workers in California and Nevada walked off the job, an escalation in long-running contract negotiations with the telephone company.



Under Pressure From Trian, GE Vows to Boost Industrial Profits

Wed, 22 Mar 2017 16:42:30 EDT

General Electric promised to cut $1 billion in costs from its industrial operations this year, and to more closely tie top executives’ bonuses to profits in its core industrial business.



Brazil's Petrobras Swings to Profit

Wed, 22 Mar 2017 09:08:31 EDT

Brazilian state-controlled oil company Petróleo Brasileiro SA turned a profit and chipped away at its massive debt load in the fourth quarter, helped by higher oil prices.



CKE Restaurants CEO Andy Puzder to Step Down

Wed, 22 Mar 2017 12:09:50 EDT

CKE Restaurants said Tuesday that Chief Executive Andy Puzder was stepping down.



Providence Equity Sells Scuba Certifier PADI for $700 Million

Tue, 21 Mar 2017 17:27:01 EDT

Providence Equity Partners agreed to sell scuba certifier Professional Association of Diving Instructors to a group of wealthy families and endowments for more than $700 million.



Stronger Dollar May Crimp Lockheed's F-35 Production

Tue, 21 Mar 2017 16:49:03 EDT

Some overseas governments may buy fewer F-35s because a strengthening dollar is making the jet more expensive, a senior Lockheed Martin executive said.



SBE Entertainment in Talks to Combine With Hakkasan Group

Tue, 21 Mar 2017 16:34:28 EDT

Sam Nazarian’s SBE Entertainment Group said it is in advanced talks to combine the company with nightclub and restaurant operator Hakkasan Group.



U.S. Subpoenas Top Shipping Companies in Price-Fixing Probe

Wed, 22 Mar 2017 05:31:23 EDT

U.S. Justice Department investigators crashed a meeting of the world’s 20 biggest container-shipping operators and handed subpoenas to top executives at several companies as part of a probe on price fixing.



BMW Bets on Year of Records to Reclaim Premium Car Crown

Tue, 21 Mar 2017 13:18:57 EDT

BMW is targeting record sales, revenue and earnings this year, as the company revs up development of new models and technology after losing the crown as leading premium-brand auto maker to Daimler.



Avon Freshens Up in a Bid to Win Back Middle America

Wed, 22 Mar 2017 06:45:47 EDT

Avon Products, one of the nation’s biggest direct sellers, lost legions of its signature door-to-door sales representatives by failing to modernize its strategy. New owner Cerberus Capital hopes to turn around the company and plans to cut $90 million in annual costs while spending an additional $75 million a year on advertising, representative pay, digital systems and other improvements.



Sanofi's Prescription for Growth: Drug Sales in the Middle Kingdom

Tue, 21 Mar 2017 01:14:59 EDT

French pharmaceutical company Sanofi expects its drug sales in China—its third-largest market after the U.S. and France—to grow at least 10% this year, matching last year’s pace.



Fox News Benches Andrew Napolitano Over Trump Tower Wiretap Claims

Tue, 21 Mar 2017 11:15:52 EDT

Fox News is temporarily benching its legal analyst Andrew Napolitano, a former New Jersey Superior Court Judge, over his unconfirmed report last week that British intelligence had wiretapped Trump Tower for President Barack Obama, according to a person familiar with the matter.



Why Almond Growers Are Going Nuts

Mon, 20 Mar 2017 17:48:56 EDT

More than 27 inches of rain in California this winter interrupted the sensitive growing season, and the best nuts suffered the most damage.



California's Wet Winter Points to Some Sorry-Looking Salads

Tue, 21 Mar 2017 09:47:45 EDT

Record rains in California are threatening crops including leafy greens, strawberries and almonds, leading to shortages and higher prices, the latest in a string of increasingly erratic weather events to hurt farmers, who not long ago were suffering due to prolonged drought.



Trump Travel Ban, Strong Dollar Take Edge Off Tourism to U.S.

Mon, 20 Mar 2017 20:20:19 EDT

Turmoil over President Donald Trump’s efforts to curb immigration risks reducing tourism to the U.S. beyond the impact the strong dollar has already had on the country’s attractiveness for holidaymakers.



Shell's Titanic Bet: Can Deep-Water Drilling Be Done on the Cheap?

Tue, 21 Mar 2017 09:26:46 EDT

Facing low oil prices for the foreseeable future, Royal Dutch Shell is learning to rein in costs and squeeze more production out of big offshore platforms by using drilling techniques from onshore.



It's Good to Be a CEO, Again: Stocks Rise, and So Does Pay

Mon, 20 Mar 2017 15:05:46 EDT

Pay raises are back in style in the corner office, erasing cuts from a year earlier and pushing CEO compensation to new highs amid a robust stock market.



Saudi Crude Oil Production, Exports Fall in January

Mon, 20 Mar 2017 08:27:37 EDT

Saudi Arabia’s crude oil exports fell to 7.713 million barrels a day in January, while crude oil production dropped by 717,000 barrels a day to 9.748 million barrels a day.



Costco Sues Titleist in Battle Over Golf Balls

Tue, 21 Mar 2017 14:27:01 EDT

The improbable popularity of a new golf ball sold by Costco has sparked a legal battle between the company and Titleist, the maker of golf’s top-selling ball.



Washington Cos. Makes Bid for Dominion Diamond

Sun, 19 Mar 2017 19:51:59 EDT

Canadian miner Dominion Diamond Corp. received a $1.1 billion bid from a privately held conglomerate in Montana but the two sides are at a negotiating impasse, setting the stage for a public takeover fight.



'Beauty & the Beast' Another Successful Live Action Remake for Disney

Mon, 20 Mar 2017 00:45:29 EDT

Walt Disney’s ‘Beauty & The Beast’ was a monster at the box office this weekend, opening to $170 million in the U.S. and Canada, according to studio estimates.



Why a Music Mogul Is Buying Tiny Trade Magazines

Mon, 20 Mar 2017 04:33:17 EDT

In the latest sign that the music industry is mounting a comeback, one of the most powerful men in the business, Irving Azoff, is snapping up some of its least flashy assets: trade publications. Mr. Azoff and a business partner, Tim Leiweke, recently purchased Venues Today, and are in talks to buy Pollstar.



Eni's Embattled Chief Seals Second Term

Mon, 20 Mar 2017 09:44:07 EDT

The Italian government made a series of nominations for the top management of large listed companies it controls, including confirming the chief executive of oil major Eni for a second three-year term.



Too Many Stores? Retailers Weigh Options

Mon, 20 Mar 2017 08:57:20 EDT

U.S. retailers gathering at a conference in Las Vegas will be looking for ways to deal with a problem that has no simple fix. Once considered a competitive advantage, store footprints have now become a burden for many chains as more shopping moves online.



Freeport Put $12 Billion Into a Mine; Now Indonesia Is Squeezing It Out

Tue, 21 Mar 2017 10:57:36 EDT

Freeport-McMoRan’s standoff with Indonesia over the giant Grasberg mine is entering a new phase, as the company scales back operations while trying to force a resolution to the dispute.