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Archive: (18 Stories)

BMW recalls 176,000 vehicles over power brake

10/01/2013 5:23am
German carmaker BMW is recalling 176,000 vehicles over a problem with the power brake system.

News Summary: Campbell sells European business

10/01/2013 8:00am
THE DEAL: Campbell Soup said it's selling its European simple meals business to private equity firm CVC Capital for 400 million euros ($542 million).

CFTC Enforcement Director Meister leaving agency

10/01/2013 8:57am
The U.S. Commodity Futures Trading Commission says its enforcement director, David Meister, is leaving the agency this month.

Utilities, solar companies in fight over rates

10/01/2013 10:22am
Sunlight is free, but if you use it to make electricity your power company wants you to pay.

News Summary: Merck to cut 8,500 more jobs

10/01/2013 11:02am
MORE REDUCTIONS: Drugmaker Merck & Co. said Tuesday it plans to cut another 8,500 jobs in addition to a total of 7,500 cuts it had previously announced but hasn't carried out.

News Summary: Walgreen's 4Q profit soars 86 pct

10/01/2013 11:17am
THE PERFORMANCE: Walgreen Co. said its fiscal fourth-quarter earnings soared 86 percent. It earned $657 million, or 69 cents per share, in the August quarter , up from $353 million, or 39 cents per share, a year ago. Adjusted earnings totaled 73 cents per share. Revenue climbed 5 percent to $17.94 billion.

Hardee's plans to expand to the Northeast

10/01/2013 2:31pm
The fast-food chain Hardee's is expanding into the Northeast with a plan to open about 200 new restaurants in the next five years.

US government shutdown closes parks, monuments

10/01/2013 2:57pm
Visitors arrived to find "CLOSED" signs at the Statue of Liberty, the Smithsonian and other parks and historic sites across the country. Callers looking for help from the government reached only voicemail. And federal employees were left to wonder when they would return to work.

Merck to cut 8,500 more jobs

10/01/2013 3:03pm
Merck & Co. plans to cut another 8,500 jobs as the drugmaker continues its struggle with competition from cheaper generic medications that have squeezed the pharmaceutical industry for several quarters now.

Lorillard buys UK-based electronic cigarette firm

10/01/2013 3:07pm
Lorillard Inc., the nation's third-biggest tobacco company, has acquired U.K.-based electronic cigarette maker SKYCIG for 30 million pounds (about $49 million) to expand its global presence in the fast-growing business.

Campbell Soup selling European simple meals to CVC

10/01/2013 3:09pm
Campbell Soup Co. is selling its European simple meals business to private equity firm CVC Capital Partners for 400 million euros ($542 million).

Hyundai to defer payments for federal workers

10/01/2013 3:10pm
Hyundai is offering to defer new-car payments for 800,000 workers who have been furloughed due to the partial U.S. government shutdown.

SunTrust paying $65M in mortgage deal with Freddie

10/01/2013 3:45pm
SunTrust Banks Inc. has agreed to a $65 million settlement with Freddie Mac over claims on home loans it sold to the government-controlled mortgage finance company.

Lee cuts debt 2 years ahead of schedule

10/01/2013 3:52pm
Newspaper publisher Lee Enterprises Inc. says it has cut its debt to $847.5 million, two years ahead of a schedule outlined in its reorganization plan.

ADM seeks Illinois tax breaks as it talks of move

10/01/2013 4:35pm
A bid by Archer Daniels Midland Company for $20 million in state tax breaks as it decides whether to keep its global headquarters in Illinois drew criticism Tuesday from some state lawmakers, one of whom likened the agribusiness' strategy to blackmail.

Abbott settles Texas challenge to airline merger

10/01/2013 5:19pm
The Texas attorney general added his support to the merger of American Airlines and US Airways, reversing a position he took six weeks ago when he joined a federal lawsuit aimed at blocking the deal.

Lew says final debt tools are being used

10/01/2013 5:56pm
Treasury Secretary Jacob Lew says that he has now begun using all the extraordinary measures at his disposal to avoid hitting the debt ceiling.

Water watchers concerned about amount of hay going to China

10/01/2013 10:31pm
Utah farmers are helping to feed China by sending massive amounts of hay overseas. But some critics say those farmers are essentially shipping our precious water over there as well, in the form of this water-intensive crop.