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Business



Last Build Date: Thu, 19 Jan 2017 00:32:19 EST

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



Woodside Expecting Production to Recover with New Projects

Wed, 18 Jan 2017 23:50:08 EST

Woodside Petroleum anticipates production levels will recover from next year as its investment in Australian oil and gas projects starts to deliver. .



Outgoing Canadian Pacific CEO and Activist Investor to Target CSX

Wed, 18 Jan 2017 23:34:43 EST

Hunter Harrison, the railroad veteran who announced his early departure from Canadian Pacific Railway, is joining with an activist investor in an attempt to shake up management at rival railroad CSX.



Acquired Taste: Vegemite Gets an Australian Owner

Wed, 18 Jan 2017 22:59:16 EST

Vegemite, Australia’s best-known condiment, is among a basket of brands being sold by Mondelez International to Bega Cheese.



China's Newest U.S. Deal Has a Venture Capital Twist

Wed, 18 Jan 2017 20:33:14 EST

A Chinese consortium led by China Oceanwide Holdings is nearing a deal to purchase International Data Group, the data and marketing firm that also runs venture-capital firm IDG Ventures.



Mallinckrodt Settles Antitrust Allegations on Unlawful Drug Monopoly

Wed, 18 Jan 2017 22:33:56 EST

Irish drugmaker Mallinckrodt and a U.S. subsidiary will pay $100 million and agree to other conditions to settle government antitrust allegations they unlawfully prevented competition for Acthar, a drug that has seen enormous price spikes in recent years.



FCC's TV Airwaves Auction Nears End With About $18 Billion in Bids

Wed, 18 Jan 2017 19:18:10 EST

The Federal Communications Commission’s auction of television airwaves is wrapping up after attracting about $18.2 billion in bids, far less than the last sale of government licenses amid weaker demand.



Livio DeSimone, a Former 3M CEO, Dies at 80

Wed, 18 Jan 2017 19:09:07 EST

Livio DeSimone, a chemical engineer who served as chairman and chief executive of 3M Co. in the 1990s, died Tuesday, the St. Paul, Minn.-based company said. He was 80 years old.



CP Rail CEO Harrison Leaving Early

Wed, 18 Jan 2017 19:10:59 EST

Canadian Pacific Railway Ltd. said Chief Executive Hunter Harrison will step down earlier than expected, leaving company President Keith Creel to steer the railroad forward amid a challenging industry environment .



Sumner Redstone's Ex-Girlfriend Asks Court to Assess His Health

Wed, 18 Jan 2017 19:06:48 EST

Sumner Redstone’s ex-girlfriend has asked a California court to appoint an independent doctor to assess his health and, if he lacks mental capacity, appoint a guardian for him, according to documents filed Wednesday.



U.S. Sues Oracle, Alleging Salary and Hiring Discrimination

Wed, 18 Jan 2017 19:09:05 EST

The Labor Department sued Oracle, alleging the technology company routinely pays its white male workers more than their counterparts in the same positions.



What's the Nearest Subway Stop?

Wed, 18 Jan 2017 16:49:44 EST

New York just got a new subway line, but its system remains far from the world’s biggest.



Overhead Bins Not Included: More Airlines Launch No-Frills Fares

Wed, 18 Jan 2017 23:14:09 EST

American Air and United are set to join Delta in offering cheaper economy-cabin fares in a bid to compete with discount carriers.



Eastern Mountain, Bob's Stores Exploring Strategic Alternatives

Wed, 18 Jan 2017 15:15:58 EST

The company behind the Eastern Mountain Sports and Bob’s Stores retail chains is exploring its next steps, including a sale or restructuring, according to people familiar with the matter.



Plane-Leasing Companies Cautious on Iran Before Trump Presidency

Wed, 18 Jan 2017 14:52:24 EST

Some of the biggest aircraft-leasing companies remain leery about entering the Iranian market amid uncertainty over the incoming Trump administration’s policy toward the Islamic Republic.



SEC Fines GM $1 Million for Accounting Control Failures

Wed, 18 Jan 2017 14:49:39 EST

General Motors Co. agreed to pay a $1 million penalty to settle charges from U.S. securities regulators that the Detroit auto giant failed to alert its accountants to a defective ignition switch in a timely manner.



Hyatt Buys Miraval Group Resort Operator

Wed, 18 Jan 2017 12:00:08 EST

Hyatt Hotels has acquired the resort and spa company Miraval Group for $215 million, in a transaction that shows how Hyatt is trying to compete against larger rivals by focusing on more affluent guests.



Target Issues Profit Warning on Disappointing Holiday Sales

Wed, 18 Jan 2017 22:09:18 EST

Target warned of weak profits and sales in the critical holiday period, as the retail chain struggled to get shoppers to visit its stores and relied on discounting to compete with Amazon.com for online orders.



Pearson Shares Dive on Profit Warning

Wed, 18 Jan 2017 22:06:21 EST

Shares in Pearson plunged more than 30% after the world’s largest education company issued a profit warning for 2018 and said it plans to sell its stake in its Penguin Random House publishing joint venture.



Eli Lilly to Buy Migraine Drug Developer

Wed, 18 Jan 2017 07:24:57 EST

Eli Lilly agreed to acquire CoLucid Pharmaceuticals, which is developing an oral migraine treatment, for about $960 million, adding a potential near-term launch to its late-stage drug pipeline.



Trump Victory Slows Business Investment in Iran

Wed, 18 Jan 2017 14:39:49 EST

Small and midsize companies are rethinking or delaying entry to Iran following the election of Donald Trump, a break from their bigger counterparts which have struck recent deals despite concerns of fresh sanctions.



Bayer Joins Jobs Parade

Wed, 18 Jan 2017 03:16:26 EST

Bayer has pledged to add U.S. jobs and investment after meeting with President-elect Donald Trump, the latest in a string of public displays from companies looking to head off criticism from the incoming administration about job losses.



As May Signals U.K. Break From Single Market, Companies Scramble

Wed, 18 Jan 2017 05:41:44 EST

Prime Minister Theresa May’s clarification Tuesday that Britain will leave Europe’s tariff-free, single market, sent companies and trade bodies begging for something to take its place—and fast.



Former Sara Lee CEO Brenda Barnes Dies at 63

Wed, 18 Jan 2017 14:51:13 EST

One of the highest-ranking women in corporate America, she became a symbol of the choices women face juggling work and family life.



Second Theranos Lab Failed U.S. Inspection

Wed, 18 Jan 2017 14:51:44 EST

Theranos failed a second major U.S. regulatory inspection of its laboratory facilities, people familiar with the situation said, a setback the Silicon Valley blood-testing firm hasn’t disclosed to investors or patients.



Elliott Pushes for Changes at NRG Energy

Wed, 18 Jan 2017 16:53:28 EST

Hedge fund Elliott Associates LP said Tuesday that it has teamed with Bluescape Energy Partners LLC to buy a combined 9.4% stake in NRG Energy Inc. and pursue changes at the power company to boost its value.



Wal-Mart Touts Plan to Create U.S. Jobs, in Nod to Trump

Tue, 17 Jan 2017 18:16:01 EST

America’s largest retailer said it plans to create about 10,000 U.S. jobs this year, touting job growth in the country ahead of Donald Trump’s inauguration.



Allergan Admits to Disclosure Violations During Valeant Bid

Tue, 17 Jan 2017 21:11:39 EST

Allergan will pay $15 million in fines and admit to disclosure violations during a hostile takeover bid from Valeant Pharmaceuticals.



Exxon Mobil Expands Permian Basin Footprint

Tue, 17 Jan 2017 17:22:53 EST

Exxon Mobil is the latest company to expand in Texas’ red-hot Permian basin, announcing a deal Tuesday to buy companies owned by the Bass family for $5.6 billion in stock and up to $1 billion in additional payments.



With Reynolds Deal, BAT Looks to U.S. for Growth

Tue, 17 Jan 2017 17:21:32 EST

British American Tobacco agreed to take full control of Reynolds in a $49.4 billion deal that marks renewed interest among international players in the U.S. tobacco market.



New York Times Lays Out Plans to Restructure Newsroom

Tue, 17 Jan 2017 14:52:33 EST

The New York Times published its long-awaited 2020 report on Tuesday, laying out “an action plan” for the publication to better adapt to the fast-changing demands of the digital landscape and ensure that it doesn’t get left behind.



Trump, Boeing CEO Discuss Air Force One Requirements

Tue, 17 Jan 2017 14:47:52 EST

Boeing Chief Executive Dennis Muilenburg said after a meeting with President-elect Donald Trump that they discussed simplifying the requirements for the new planes that would serve as Air Force One.



U.K. Court Approves Rolls-Royce Corruption Settlement

Tue, 17 Jan 2017 14:17:47 EST

A U.K. court approved a deferred prosecution agreement between Rolls-Royce and Britain’s Serious Fraud Office to settle a four-year corruption investigation.



Caesars Unit Wins Court Approval for Chapter 11 Exit Plan

Tue, 17 Jan 2017 13:50:47 EST

A bankruptcy judge approved the restructuring plan for Caesars Entertainment’s operating unit, paving the way for the casino operator to emerge from chapter 11 protection later this year.



Mattel Names New CEO, Picking Google's Giorgiadis

Tue, 17 Jan 2017 17:40:05 EST

Mattel Inc. named Google executive Margaret Georgiadis as its next chief executive, bringing an outsider to replace Christopher Sinclair atop the biggest U.S. toy company.



Televisa, Univision Merge Content Development, Production Operations

Tue, 17 Jan 2017 13:02:20 EST

Mexican television and media company Grupo Televisa placed an executive of U.S. Spanish-language network Univision Communications in charge of its content business in an effort to shore up falling ratings at both broadcasters.



Altria Buys Maker of Nat Sherman Cigars

Tue, 17 Jan 2017 10:19:31 EST

Altria Group Inc. said it acquired the privately held maker of Nat Sherman cigars and cigarettes, expanding Altria’s offerings as it faces increasing competition.



Biogen Reaches Settlement and License Agreement for MS Drug

Tue, 17 Jan 2017 12:38:20 EST

Biogen has reached a settlement and license agreement with Forward Pharma for its best-selling multiple sclerosis drug ahead of the completion of a patent-interference case.



Tiffany Blames Traffic at Trump Tower for Holiday Weakness

Tue, 17 Jan 2017 09:07:04 EST

Tiffany said its holiday sales results were dragged by “postelection traffic disruptions” around its flagship store near Trump Tower in New York and it doesn’t see overall sales conditions changing drastically.



Lowe's Taps Insider to Succeed Longtime CFO

Tue, 17 Jan 2017 14:54:19 EST

Lowe’s Cos. said Tuesday it chose a company insider to be its next finance chief, as its longtime CFO is retiring.



'Hidden Figures' Keeps No. 1 Spot at Box Office as Newcomers Fail

Mon, 16 Jan 2017 18:07:25 EST

The first box-office bombs of 2017 have landed. Four new releases -- Jamie Foxx’s “Sleepless,” Ben Affleck’s “Live by Night,” Martin Scorsese’s “Silence” and the children’s movie “Monster Trucks” -- all failed to register with moviegoers. “Hidden Figures” held its top spot with an estimated $26 million in the U.S. and Canada over the four-day weekend.



Noble Energy to Buy Oil and Gas Company Clayton Williams

Mon, 16 Jan 2017 21:56:48 EST

Noble Energy will pay $2.7 billion to buy Clayton Williams Energy in a deal that will give it a combined 120,000 acres of oil-rich property in West Texas.



For Shale Drillers, Rising Oil Prices Come With Rising Costs

Mon, 16 Jan 2017 22:01:33 EST

U.S. shale drillers that proved resilient during the oil downturn face a new test in 2017: Can they make money producing more now that prices have stabilized?



Online Consignment Shops Clean Up After the Holidays

Mon, 16 Jan 2017 13:51:38 EST

Secondhand retailers like Swap.com say the volume of merchandise they handle is growing rapidly.



Buying an NBA Jersey in a Store Is About to Get More Expensive

Mon, 16 Jan 2017 06:03:06 EST

The National Basketball Association will cease distributing its lowest-priced jerseys to sporting-goods chains beginning next season, the latest shift as sportswear makers aim to sell directly to consumers.



Australia Utility Duet Accepts Takeover Worth Nearly $5.5 Billion

Mon, 16 Jan 2017 12:29:00 EST

Australian utility Duet Group has agreed to a takeover bid worth nearly $5.5 billion from Hong Kong tycoon Li Ka-shing’s Cheung Kong Infrastructure.