Business News

The New York Times (July 7, 2015)
PARIS -- Global stock markets mostly dropped on Monday but did not plunge, as investors reacted with muted dismay to the results of the Greek referendum and showed nervousness about steep declines in China's stock market over the last three weeks. Wall Street shares fell less than a percent, a smaller drop than some had feared. European shares fell around 2 percent.
The New York Times (July 7, 2015)
HONG KONG -- Though it has lately shown signs of a turnaround, Samsung Electronics is once again struggling to impress with its earnings, missing analyst expectations in a preliminary report that suggested its operating profit had fallen for the seventh straight quarter. In a news release, Samsung said its operating profit probably fell 4 percent in the period from April to June compared with the same period a year earlier. Analysts had expected a slight increase in the figure, which would...
The New York Times (July 7, 2015)
Goldman Sachs has reshaped its activism defense practice, days after the senior banker who led the team, William Anderson, defected to the boutique investment bank Evercore Partners. Wall Street of late has pressed to advise companies on defending themselves against dissident investors.   As part of the shift, Goldman has expanded the team's mission beyond helping companies defend themselves against activist hedge funds to a broader mission of helping them respond to investor reactions of all...
The New York Times (July 7, 2015)
For all the Chinese authorities' increasingly overt meddling in the market, Chinese shares are still looking expensive. Even after the country's main market indexes plunged roughly 30 percent in three weeks, on any fundamental analysis, they have further to fall.
The New York Times (July 7, 2015)
After helping JPMorgan Chase negotiate multiple billion-dollar settlements with regulators, the bank's general counsel, Stephen M. Cutler, is taking on a new job as vice chairman.
The Tampa Tribune (Florida) (July 7, 2015)
CHARLOTTE, N.C. - Dollar Tree officially owns Family Dollar.   In a statement Monday, Virginia-based Dollar Tree said it has completed its $8.5 billion purchase of Family Dollar, based in the Charlotte suburb of Matthews, drawing to a close a yearlong takeover saga that included a separate buyout attempt from another discount retailer, Dollar General.
USA TODAY (July 6, 2015)
Financial markets are braced for more turbulence this week after Greek voters on Sunday resoundingly rejected the bailout terms demanded by Athens' creditors, increasing the likelihood that the debt-wracked country will exit the euro.
The Houston Chronicle (July 3, 2015 Friday Correction)
>> Relive the BP spill and its aftermath through the work of cartoonist Nick Anderson at /BPcartoons The British oil company that spilled millions of barrels of crude into the Gulf of Mexico will pay Texas and other Gulf Coast states billions of dollars to assist local economies and restore ecosystems as part of the largest environmental settlement in U.S. history. BP said Thursday that it has agreed to pay $18.7 billion to settle federal and state claims against it over its role in...
The Houston Chronicle (July 3, 2015 Friday Correction)
A week after a New York City investigation found that Whole Foods Market stores were overcharging for prepackaged products, the company's co-chief executives admitted pricing mistakes were made.
The Christian Science Monitor (July 6, 2015)
Casio Computer Company will enter the smartwatch market, says new company president Kazuhiro Kashio. Unlike the Apple Watch or Google's Android Wear, Mr. Kashio says that the Casio smartwatch will be a watch first "that tries to be smart." Kashio became president of the company last week, taking over for his father. This shift in leadership might be one of the factors leading Casio to develop wearable technology; for four years, the younger Kashio led a team researching the possibility of a...
Star Tribune (Minneapolis, MN) (July 1, 2015)
Best Buy's alliance with Samsung is getting even deeper. The Richfield-based electronics retailer already has two store-within-a-store spaces dedicated to Samsung products - one for TVs and the other for smartphones and mobile devices. Now, in some stores, it will add a Samsung branded space for appliances.
The New York Times (July 6, 2015)
The nation's five largest health insurance companies are circling one another like hungry lions closing in on prey. On Friday, Aetna said it would acquire its smaller rival Humana to create a company with combined revenues of $115 billion this year. Anthem is stalking Cigna. UnitedHealth Group, now the largest of the five, is looking at its options. At the end of the maneuverings, three national behemoths are likely to emerge.   There is also a scramble among the smaller insurers. On Thursday,...
The New York Times (July 6, 2015)
WASHINGTON -- It's tempting to celebrate the demise of the Export-Import Bank, whose authority expired last week. The bank, which subsidizes American exports, is held up by its congressional critics as an example of crony capitalism. Among the companies lobbying to keep it going were General Electric, whose revenue was almost $150 billion last year, with a profit of $15 billion. Why, opponents ask, does it need government help? Yet the odds are that the bank will rise from its death bed and be...
Orlando Sentinel (Florida) (July 4, 2015)
Aetna agreed to buy rival health insurer Humana, paying about $35 billion in cash and stock for the second-largest U.S. provider of private health plans for the elderly. The transaction, which prices Humana at $230 a share, combines the second- and fifth-largest U.S. health insurers by market size. The deal, announced Friday, values Louisville, Ky.-based Humana at 23 percent more than its closing price Thursday, and including assumed debt totals about $37 billion. The acquisition is part of a...
St. Louis Post-Dispatch (Missouri) (June 27, 2015)
United Airlines has agreed to pay $100 million for a 5 percent stake in Azul SA, Brazil's third-biggest airline, as it attempts to catch up with U.S. rivals with more established ties in South America's biggest air travel market.
The New York Times (July 5, 2015)
Samsung has built a name for itself among consumers around the world as a leading manufacturer of smartphones, televisions and home appliances. For investors, though, its reputation is not so stellar. The latest issue for Samsung shareholders is a proposed $8 billion merger of two company affiliates: Samsung C&T, a construction and engineering company, and Cheil Industries, a holding company that issued shares to the public for the first time in December and that has interests in amusement...
Pittsburgh Post-Gazette (May 14, 2015)
Verizon Communications defended its title as the region's largest public company on a list that was dominated by firms headquartered outside the Tri-State area but that exert a significant influence on the Pittsburgh economy.
Pittsburgh Post-Gazette (July 3, 2015)
Get used to calling it the Kraft Heinz Co. Pittsburgh's H.J. Heinz Co. and Illinois-based Kraft Foods Group officially merged Thursday after the stock market closed, creating the third-largest food and beverage company in North America based on its approximately $28 billion in annual revenues. PepsiCo and Nestle are bigger based on revenues.
The New York Times (July 4, 2015)
SYDNEY, Australia -- Getting anything to Chevron's gas-processing plant on Barrow Island is a bit of a trick. Some supplies travel 15 hours from Perth to a supply base for shipping. En route, trucks cannot stop under trees, to avoid picking up bugs and bird droppings. When people and cargo finally make it to the island, an army of 300 enforces a quarantine: Every Velcro strap on clothing and bags is checked for seed pods, boots are scrubbed free of dirt and pants with cuffs never even make it...
The New York Times (July 4, 2015)
LONDON -- The Potash Corporation said on Friday that it was still interested in acquiring K&S, the German potash and salt mining company that owns Morton Salt, despite a rejection of its unsolicited takeover bid.
The New York Times (July 4, 2015)
SHANGHAI -- The financial services affiliate of the Chinese e-commerce giant Alibaba Group closed a private placement of shares on Friday that the company said values it at more than $45 billion and makes the Chinese government a stakeholder, according to people familiar with the transaction.
Journal of Commerce (July 2, 2015 Thursday 8:28 PM) Speculation is rising that the three largest global container lines are considering buying the last surviving Brazilian-owned container shipping company, Log-In Logistica Ltda. Maersk Line, Mediterranean Shipping Co. and CMA CGM may be discussing scooping up the Sao Paulo bourse listed company, Brazilian maritime sources told Maersk is considered the most likely new owner, as it already...
Journal of Commerce (July 2, 2015 Thursday 11:00 AM) HONG KONG - The demand for logistics services and infrastructure will be fuelled by China's increasing trade appetite and the continuing growth of e-commerce markets within the country, according to Barclays Research. With China's logistics costs still around 16 percent of GDP, already significantly higher than the global average of 12 percent, the growth in cross-border and inter-city trade across...
Journal of Commerce (July 2, 2015 Thursday 2:10 PM)
Mooresville-based Lowe's has promoted Tiffany Mason to senior vice president of corporate finance and treasurer.  In her new role, Mason will be responsible for financial planning and analysis, and will continue her investor relations and treasury functions, Lowe's said in a this week.
Last Updated: 2015-07-07 @13:31
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