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US Business

Low Crude Prices Hammer Big Oil Companies
Sat, 30 Jul 2016 05:44:16 EDT - Exxon Mobil’s profit fell 60% and Chevron reported a third-straight quarterly loss on Friday, capping off a week of lackluster results for the biggest Western oil companies and underscoring the continued challenge they face as crude prices fall to just above $40 a barrel.
SABMiller Board Backs AB InBev's Higher Offer
Sat, 30 Jul 2016 03:45:53 EDT - Anheuser-Busch InBev has cleared a major hurdle to completing its $100 billion-plus megamerger with rival SABMiller, a much-needed deal for the Belgian brewer that reported a steep fall in profits.
Viacom Board Suit Against Redstone Holding Company to Proceed
Fri, 29 Jul 2016 17:01:22 EDT - A Delaware judge will hear arguments on whether 93-year-old Sumner Redstone had the competency to decide to replace five board members at Viacom.
NextEra to Buy Energy Future's Oncor in $18.4 Billion Deal
Fri, 29 Jul 2016 21:03:19 EDT - NextEra Energy outbid rivals for Energy Future Holdings’ stake in Oncor, the biggest power provider in Texas, in an $18.4 billion deal that will thrust the Florida company into the big leagues among U.S. utilities.
Bidders Circle Formula One
Fri, 29 Jul 2016 17:44:54 EDT - The long-awaited sale of the Formula One may finally be nearing the finish line as a number of bidders including British broadcaster Sky PLC are circling the racing series.
GDP Expands at Disappointing 1.2%
Sat, 30 Jul 2016 08:44:13 EDT - U.S. economic growth sputtered this spring—growing a meager 1.2% in the second quarter—with cautious business investment largely offsetting more robust consumer spending. The gain marks only a slight acceleration from the first quarter, when GDP advanced at a downwardly revised 0.8% pace.
U.S. Consumer Sentiment Fell in July
Fri, 29 Jul 2016 17:52:10 EDT - A gauge of U.S. consumer sentiment dropped in July—as the University of Michigan survey fell to 90.0 from June’s 93.5—in a sign that global economic uncertainty could ripple through domestic spending.
U.S. Employment Costs Up 0.6% in Second Quarter
Fri, 29 Jul 2016 08:58:55 EDT - Employers’ personnel costs rose modestly during the spring, the latest reminder of slow income growth during the recovery.
Cities Struggle to Add Upscale Housing While Maintaining Diversity
Fri, 29 Jul 2016 09:53:02 EDT - From Seattle to Chicago to New York, cities are struggling to crack the ultimate urban code: How to squeeze in ever more well-off people without driving out the less affluent?
Merck Revenue Rises on Cancer, Hepatitis Treatments
Fri, 29 Jul 2016 13:17:56 EDT - Merck posted an unexpected increase in second-quarter revenue thanks to new cancer and hepatitis treatments, and an increased profit versus a year-earlier period that was weighed down by foreign-exchange losses.
UPS Profits Rise on E-Commerce
Fri, 29 Jul 2016 13:53:33 EDT - United Parcel Service reported a 3.2% increase in profit fueled in part by e-commerce growth, but the delivery giant cautioned that a weaker industrial environment will continue to be a drag.
Facebook May Owe Billions More in Taxes
Fri, 29 Jul 2016 12:05:20 EDT - Facebook said it could be on the hook for $3 billion to $5 billion in additional taxes as a result of an IRS investigation into how the social network transferred assets overseas.
Talend Nudges Dormant Tech IPO Market
Fri, 29 Jul 2016 18:52:26 EDT - Software company Talend had a strong debut on the Nasdaq in what investors see as a possible boost for the lackluster tech IPO market so far this year.
ArcelorMittal Earnings Beat Expectations
Fri, 29 Jul 2016 12:27:54 EDT - ArcelorMittal reported its best quarter in five years as steel markets in the U.S. and Europe improved thanks to new protective import tariffs, stronger demand and shrinking inventories.
Five Hershey Trust Directors to Retire in Settlement With Pa. Attorney General
Sat, 30 Jul 2016 08:04:54 EDT - Five directors at a charitable trust that controls Hershey Co. will leave the board as part of a settlement agreement with Pennsylvania’s top law-enforcement officer.

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