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Caterpillar to Close Five Plants, Shed 820 Jobs

Thu, 04/28/2016 - 19:15
Caterpillar said Thursday it will close five U.S. plants and shed about 820 positions as the construction equipment maker continues to scale back its production and work force in response to falling demand.

Amazon Delivers 4th Straight Profit

Thu, 04/28/2016 - 16:32
Amazon swung to a better-than-expected first-quarter profit—its largest ever for a quarter—as the company benefited from surging growth in its Web services division.

Earnings on Pace for Third Straight Decline

Thu, 04/28/2016 - 16:16
U.S. corporate profits are set to decline for the third straight quarter, the longest and broadest slide in earnings since the financial crisis, weighed down by the energy slump and slowing growth around the world.

Comcast's DreamWorks Deal Reflects Shifting Bets on Media

Thu, 04/28/2016 - 16:01
Comcast’s intense pursuit of DreamWorks Animation highlights just how much has changed across the media landscape in the five years since it bought NBCUniversal, including a dimmer outlook for pay TV.

SpaceX Wins U.S. Military Contract to Send Satellite Into Orbit

Thu, 04/28/2016 - 14:38
Billionaire entrepreneur Elon Musk’s rocket-making company has won its most significant U.S. military contract, bidding 40% less than the Pentagon estimated it would spend sending a satellite into orbit, a senior Air Force official said Thursday.

Drugmakers Place Big Bets on Cancer Medicines

Thu, 04/28/2016 - 14:34
Drugmakers are placing big bets on medicines they expect will command premium prices. Sanofi made an unsolicited, $9.3 billion offer to purchase Medivation. Separately, AbbVie agreed to pay $5.8 billion for Stemcentrx.

Comcast to Buy DreamWorks Animation for $3.8 Billion

Thu, 04/28/2016 - 10:41
Comcast Corp. on Thursday said it agreed to buy DreamWorks Animation SKG Inc. for about $3.8 billion, a deal that could make the cable giant a rival to Walt Disney Co. in the lucrative family-entertainment business.

Ford Posts Record Results as Truck Revamp Pays Off

Thu, 04/28/2016 - 10:41
Ford reaped the benefits of its costly F-150 truck revamp, doubling net income in the first quarter and posting a North American operating margin rivaling those returned by high-end luxury brands.

UPS Earnings Rise as Deliveries Increase

Thu, 04/28/2016 - 10:35
United Parcel Service reported 10% growth in quarterly income, helped by efforts to increase profitability of packages delivered to U.S. online shoppers.

U.S. Steel Accuses China of Hacking

Thu, 04/28/2016 - 10:13
U.S. Steel is alleging that Chinese government hackers stole proprietary methods for making lightweight steel on behalf of Chinese steel producers seeking to supply a bigger share of the U.S. auto-making market.

Abbott Agrees to Buy St. Jude in $25 Billion Deal

Thu, 04/28/2016 - 09:57
Abbott Laboratories agreed to acquire St. Jude Medical in a cash-and-stock deal valued at $25 billion that merges two of the leading makers of heart-related devices.

U.S. Growth Falters Amid Consumer, Business Caution

Thu, 04/28/2016 - 09:55
The U.S. economy stumbled out of the gate in 2016 as consumers and businesses showed renewed signs of caution, underscoring the uneven growth that has been a hallmark of the nearly seven-year expansion, the worst performance in two years.

Priceline CEO Resigns After Relationship With Employee

Thu, 04/28/2016 - 09:50
Priceline Group CEO Darren Huston resigned after an internal investigation found that his relationship with an employee violated the company’s code of conduct.

ConocoPhillips Posts Loss, Cuts Spending

Thu, 04/28/2016 - 08:41
ConocoPhillips again reduced its 2016 capital spending plans as low commodities prices continue to take a toll on the energy sector.

Company Behind American Idol Files for Chapter 11

Thu, 04/28/2016 - 08:16
The company behind the American Idol TV series, Core Entertainment, has filed for bankruptcy protection, citing the decline in ratings for the once-popular show, which wrapped up its final season recently.

Senator's Objections Block Big Deals at U.S. Trade Bank

Thu, 04/28/2016 - 07:35
A new congressional standoff is preventing the U.S. Export-Import Bank, which survived a five-month shutdown last year, from arranging financing for deals of more than $10 million.

U.S. Jobless Claims Rise to 257K

Thu, 04/28/2016 - 07:02
The number of Americans filing for new unemployment benefits rose last week but remained at a low level consistent with an improving labor market.

Mitsubishi Says U.S. Vehicles Unaffected by Fuel-Efficiency Scandal

Thu, 04/28/2016 - 03:48
Mitsubishi Motors said vehicles it sold in the U.S. over the last four years or so are unaffected by fuel-economy testing issues or data manipulation, problems it admitted to for certain cars it sells in Japan.

Volkswagen Says Diesel Car Buybacks to Cost Almost $9 Billion

Thu, 04/28/2016 - 03:35
Volkswagen said it expects costs of nearly $9 billion to buy back tainted diesel-powered cars in the wake of its emissions-cheating scandal.

Afghanistan's Airlines Face Threat of Closure

Thu, 04/28/2016 - 03:35
Carriers face closure or suspension of services for allegedly flouting tax and safety rules, according to the country’s aviation authority and senior airline executives.


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