J.C. Penney reported a bigger-than-expected loss in its fiscal second quarter as a key sales metric fell well short of Wall Street's view. The department store operator also cut its full-year forecast again, and its shares plunged more than 22 percent before the market open on Thursday.
Two deputy Chinese provincial governors and a mayor were fired Thursday by the ruling Communist Party after revelations of misconduct by a major producer of anti-rabies vaccine triggered a public outcry.
Anne D'Innocenzio, Associated Press | PostedAug 16th - 5:23am
Walmart raised its financial outlook for the year after beating Wall Street's expectations for its fiscal second quarter and seeing the strongest growth in more than a decade in sales at established stores. Its shares surged 10 percent before the opening bell Thursday.
As Italy comes to terms with the disaster of this week's bridge collapse, the government is accusing the highway operator for focusing too much on its financial interests, putting a spotlight on the country's management of vital infrastructure.
Switzerland's civil aviation authority says a local airline can resume flights with vintage Junkers Ju-52 planes after one of its aircraft crashed earlier this month, on condition that it take several precautionary measures.
Alexandra Olson, Associated Press | PostedAug 16th - 2:59am
The bridge that collapsed in the Italian port city of Genoa was considered a feat of engineering innovation when it was built five decades ago, but it came to require constant maintenance over the years. Its design is now being investigated as a possible contributor to its stunning collapse.
Stephen Wright, Associated Press | PostedAug 16th - 1:50am
The main global group for certifying sustainable wood has suspended plans to give its influential endorsement to Indonesian paper giant Sinarmas after revelations it cut down tropical forests and used an opaque corporate structure to hide its activities.