Core Entertainment Wins Approval to Tap Lenders' Cash

Core Entertainment, the company behind the “American Idol” TV series, won approval from a bankruptcy judge on Friday to tap its lender’s cash and move forward with its chapter 11 proceedings.

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Mixed Results for China's Oil Companies Despite Government Aid

China’s efforts to support its state-controlled oil giants have so far yielded mixed results, showing how the global oil-price slump is reshaping the industry.

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Dole Food Under Investigation Over Listeria Outbreak

The U.S. Justice Department has launched a criminal investigation into Dole Food Co. over a listeria outbreak linked to four deaths in the U.S. and Canada and multiple other illnesses.

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U.S. Warns Five Economic Powers Over Policies

The Obama administration delivered a shot across the bow to Asia’s leading exporters and Germany for their economic policies and warned that a number of major economies around the globe could face intense pressure to engage in currency interventions to counter slow growth.

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Anemic Wage Growth Restraining Economy

Years of solid job gains are failing to produce a breakout in wages, suppressing the spark needed for a sustained pickup in economic growth.

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Priceline's Ousted CEO's Pay Fell 32% After Board Rebuke

Priceline Group’s ousted CEO Darren Huston’s compensation dropped 32% last year after fellow directors decided not to pay him a cash bonus as they investigated a relationship they later deemed inappropriate.

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Johnson Controls Uses Radio Tags to Track Inventory

A push into RFID tagging helped auto-parts maker Johnson Controls pinpoint the costly detours of shipping boxes and solve a logistics riddle that grows out of the automotive industry’s sprawling supply chain.

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U.S. Consumer Sentiment Fell as Caution Continued

A closely watched gauge of U.S. consumer sentiment—the University of Michigan consumer-sentiment index—continued to decline in April, the latest evidence of growing worry about the economy’s momentum.

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U.S. Inflation Reading Advances Only Modestly in March

Inflation remained modest in March, a sign that pricing pressures are in check amid slow growth in the U.S. and overseas, and low oil prices.

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Employment Costs Improve at Modest Rate in First Quarter

Employers’ personnel costs rose modestly during the first quarter, but broader trends show Americans aren't seeing larger raises.

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Exxon Mobil Posts Smallest Profit Since 1999 Merger

Exxon Mobil, the largest U.S. oil company, reported its smallest quarterly profit since 1999, a 63% plunge from a year ago, as oil prices remain depressed.

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Oil Companies Begin to Benefit From Cost Cuts

Big cost cuts in areas like staffing levels and exploration budgets helped some of Europe’s biggest energy companies generate results that were an improvement on the past quarter.

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Rovi to Buy TiVo in $1.1 Billion Deal

Rovi Corp. said it would acquire TiVo Inc. for about $1.1 billion, a tie-up that comes as consumers are increasingly changing how they watch videos.

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Valeant Files Overdue Annual Report

Valeant Pharmaceuticals International Inc. filed its overdue annual report on Friday morning, likely resolving the looming danger of debt default for the Canadian company.

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Chinese Tech Firms Charge Into Electric Cars

Internet companies like Tencent and Baidu have been leading the innovation drive in electric cars, as some in the broader industry believe conventional auto makers don’t have the creative chops.

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Delta Air Lines in Deal for 37 Airbus A321s

A day after Delta Air Lines ordered 75 small jetliners from Bombardier, the carrier on Friday said it is adding 37 of the largest single-aisle aircraft made by Airbus to its fleet.

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Sanofi CEO Seeks Talks With Medivation Over $9.3 Billion Offer

Medivation, a Nasdaq-listed company that focuses on hard-to-treat cancers, has rebuffed a takeover approach by the French drugmaker.

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AstraZeneca's Investment Eats Into Profit

AstraZeneca said core profit fell in the first quarter even as revenue rose, as it plowed heavy investment into the development of a string of new drugs it is betting on for growth.

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Eni Posts Loss Amid Oil Price Rout

Italian oil company Eni’s earnings were hurt by accounting changes related to disposals and low crude oil prices.

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Soaring Tobacco Stocks Prompt Calpers to Reconsider Investment

The California Public Employees’ Retirement System may reconsider a decision it made 16 years ago to sell tobacco holdings after an outside consultancy concluded that it missed out on up to $3 billion in net investment gains between then and the end of 2014 by not investing in tobacco shares.

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AB InBev Offers to Sell More SABMiller Brands

Anheuser-Busch InBev has offered to sell SABMiller’s Central and Eastern European brands, including Pilsner Urquell, ahead of a decision by the European Commission on whether to approve its acquisition of the London-based brewer.

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Two Telenor Executives to Resign After VimpelCom Probe

Norway’s Telenor ASA said Friday that two executives had agreed to resign as a probe uncovered “internal weaknesses” in the telecommunications provider’s handling of a bribery case in part-owned VimpelCom, but said an external law firm hadn’t uncovered any corruption at Telenor.

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IAG Cuts Growth Target

International Consolidated Airlines Group said it cut its growth plans and would accelerate cost savings to soften the impact on bookings from the terror attacks in Brussels, as it swung to a first-quarter net profit.

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Caterpillar to Close Five Plants, Shed 820 Jobs

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.

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De Beers Left London for Botswana, Transforming Lives and a Sleepy City

De Beers’s expanded presence has helped transform Botswana’s capital over the past few years, turning it into a hub for a cosmopolitan crowd of gem buyers and upending the lives of dozens of company employees.

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Comcast's DreamWorks Deal Reflects Shifting Bets on Media

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.

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Drugmakers Place Big Bets on Cancer Medicines

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.

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Amazon Delivers 4th Straight Profit

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.

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

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.

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Google Hires Former Motorola President

Google parent Alphabet Inc. is unifying its disparate hardware projects into a new division and hiring former Motorola President Rick Osterloh to run it.

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Earnings on Pace for Third Straight Decline

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.

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U.S. Steel Accuses China of Hacking

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.

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Hunt-Led Investors Scramble to Save Oncor Buyout

The deal that was supposed to bail Energy Future Holdings out of bankruptcy proceedings—the sale of its Oncor transmissions business—could be dead within weeks unless Texas regulators give it a second look.

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

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.

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UPS Earnings Rise as Deliveries Increase

United Parcel Service reported better-than-expected earnings in the latest quarter as growth in domestic and international package delivery drove profit.

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Symantec Slashes Quarterly Guidance; CEO to Step Down

Symantec Corp. shares dropped Thursday as the company slashed its guidance and said Chief Executive Michael Brown would step down once it finds a successor.

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Comcast to Buy DreamWorks for $3.8 Billion

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

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Priceline CEO Resigns After Relationship With Employee

Priceline Chief Executive Darren Huston resigned after an internal investigation found that his relationship with a Priceline employee violated the company’s code of conduct.

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Afghanistan's Airlines Face Threat of Closure

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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U.S. First-Quarter GDP Advances at Scant 0.5% Pace

The U.S. economy stumbled out of the gate in 2016 as consumers and businesses pulled back, underscoring the uneven growth that has been a hallmark of the nearly seven-year expansion.

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U.S. Jobless Claims Rose to 257K Last Week

The number of Americans filing for new unemployment benefits rose last week but remained at a low level consistent with an improving labor market.

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Bristol-Myers Revenue Rises 8.7%

Bristol-Myers Squibb said first-quarter revenue rose a better-than-expected 8.7%, boosted by the continued expansion of its Opdivo cancer immunotherapy and growth of other key drugs.

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

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.

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ConocoPhillips Further Reduces Spending Plans, Swings to Big Loss

ConocoPhillips again reduced its 2016 capital spending plans as low commodities prices continue to take a toll on the energy sector.

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Ford Posts Record Results

Ford delivered record results in the first-quarter amid strong truck sales, with net income more than doubling in the period and an operating margin in the core North American unit rivaling those returned by high-end luxury brands.

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Viacom Reports Profit but Misses Expectations

Viacom swung to a profit in its latest quarter but results fell short of expectations as the media giant continues to grapple with shifts in how people consume media.

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Altria Profit, Revenue Grow as Cigarette Shipments Rise

Altria reported profit and revenue growth as the tobacco company saw its cigarette shipments climb.

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Aetna Tops Expectations Though Membership Falls

Aetna reported its profit fell 6.5% in the first quarter as a key measure of the company’s medical costs rose and membership fell.

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Company Behind American Idol Files for Chapter 11

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.

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Volkswagen Says Diesel Car Buybacks to Cost Almost $9 Billion

Volkswagen said it expects costs of nearly $9 billion to buy back tainted diesel-powered cars in the wake of its emissions-cheating scandal.

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

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.

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Brazil's Vale Swings to Profit

Brazilian miner Vale swung to a net profit in the first quarter, as the company reported gains in derivative operations.

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Strong Growth in Key Ad Markets Boosts WPP

WPP reported a rise in first-quarter revenue in sterling terms, boosted by strong growth across key markets including North America, the U.K. and Western continental Europe.

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Rovio to 'Angry Birds' Filmgoers: Open App During Movie

Rovio Entertainment Ltd. is encouraging moviegoers to pull out their smartphones during next month’s “Angry Birds” film.

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Sanofi Makes $9.3 Billion Bid for Medivation

Sanofi said it has made an all-cash offer to acquire Medivation in a deal valued at $9.3 billion, the French drugmaker’s latest effort to expand its cancer-treatment business.

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Airbus Profit Falls 50% as Deliveries Lag Behind

Airbus said first-quarter net profit fell 50% after it struggled to get planes into customer hangars, warned of a potential “significant” financial hit from a key military aircraft program and slowed production of its A380 superjumbo.

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Sony Returns to Net Profit

The $1.36 billion net profit for the last fiscal year marks a turnaround for Sony, which has struggled to maintain profitability for much of the past decade.

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Hermès International Lifts Revenue Despite Market Pressure

French luxury brand Hermès International said that first-quarter revenue rose 6.1% as a weakening global economy and terrorism failed to dampen shoppers’ mood to splurge on expensive leather bags and fashion.

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White House to Push Student Debt-Relief Plans

The Obama administration announced plans to ramp up efforts to reach Americans who have defaulted on student loans and enroll them in debt-relief programs, reflecting concerns that millions are damaging their credit.

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Valeant to Make Sweeping Changes to Board

Valeant Pharmaceuticals is planning sweeping changes to its board of directors as it moves to set a new tone at the top of a company under fire from politicians and investors for its management and drug-pricing practices.

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Gannett's Bid Tests Tribune's New Leadership

Gannett’s “bear hug” offer has become a trial-by-fire for Tribune Publishing Chairman Michael Ferro Jr. and the management team he installed in early February.

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What Is Prince's Legacy Worth? The Tax Man Wants to Know

Musician’s estate has to value his likeness and future earnings; IRS would get 40%

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Valeant Steering Away From Aggressive Price Increases, Officials Say

Officials from Valeant Pharmaceuticals are telling a Senate committee that they are steering the company away from its practice of aggressively increasing drug prices.

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PayPal Profit and Revenue Rise

PayPal Holdings Inc. posted better-than-expected results in its third report as a stand-alone company since parting ways with eBay Inc. last year, with transactions per active user account climbing.

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FBI Confirms It Won't Consider Telling Apple About iPhone-Hacking Method

The FBI said Wednesday it won’t launch a process that could have resulted in Apple learning how the agency unlocked a terrorist’s iPhone.

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Marriott Tops Expectations, Helped by Lower Costs

Marriott International Inc., which is in the process of acquiring Starwood Hotels & Resorts Worldwide Inc., beat first-quarter expectations thanks to lower costs and an uptick in business across Asia.

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Movies Aren't Main Motive in Comcast's Pursuit of DreamWorks Animation

Comcast Corp.’s talks to purchase DreamWorks Animation SKG Inc., the studio behind “Shrek” and “Kung Fu Panda,” are about everything except the movies, people familiar with the deal discussions said.

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Facebook Revenue Soars on Ad Growth

Facebook posted a 52% surge in first-quarter revenue, underscoring the strength of the social network’s newer mobile-ad products and rising popularity of its video ads.

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DreamWorks' Katzenberg to Leave If Comcast Deal Gets Done

DreamWorks CEO Jeffrey Katzenberg is expected to leave if Comcast acquires the family-entertainment studio, according to people familiar with the matter.

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Elon Musk Gives His Companies Unusual Financial Help

Billionaire Elon Musk of Tesla, SpaceX and SolarCity has helped financially support his firms in ways that are as unconventional as he is—and risky.

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For Online Shoppers, Free Shipping Reigns Supreme

An increasing number of American consumers won’t buy products online from sellers who don’t offer free shipping, making it a strategic advantage for companies that can afford to provide it but straining small businesses.

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Services Business Emerges as Key to Apple's Core

As the growth in Apple’s device sales slows and the population of Apple users expands, the company’s services business is shifting to essential from overlooked.

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China Wants to Own Small Stake in Web Firms

The Chinese government’s control over the Internet could get even tighter, with regulators floating a proposal for the state to take 1% stakes in big Chinese Web firms.

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BlackBerry Hires Thurber as Senior Vice President for Global Device Sales

BlackBerry Ltd. has hired Alex Thurber as new sales executive for its global mobile-device business in its latest move to revive the struggling operation.

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Lego's Billionaire Owner Names Son as Successor

Danish billionaire Kjeld Kirk Kristiansen has announced that his 37-year-old son, Thomas, will succeed him as vice chairman of toy maker Lego A/S.

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Fed Stands Pat, Signals No Hurry to Raise Rates in Weeks Ahead

Federal Reserve officials left short-term interest rates unchanged and signaled no hurry to raise them in the weeks ahead, citing a mixed economic backdrop and lingering concerns about low inflation and global economic and financial developments.

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China Sales Slide Eats Into Apple Revenue

The once-hot China market accounted for a large chunk of Apple’s first quarterly revenue decline in 13 years, highlighting the global impact of the saturated Chinese smartphone market on global gadget makers.

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Germany to Subsidize Electric Autos

The German government and the chief executives of Volkswagen, BMW and Daimler agreed to kick-start Germany’s sluggish electric-car market.

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Yes, Central Banks Can Create Inflation. Just Ask Argentina

Central banks struggling with low inflation do have a tool to combat it. It’s called helicopter money, where central banks print money to finance increased government deficits. But, Greg Ip writes, but central banks ​don’t want to erase the line between monetary and fiscal policy.

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Pending Home Sales Hit Highest Level in Almost a Year

The number of homes that went under contract in March reached the highest level in nearly a year, a sign the housing market is gaining steam as Americans benefit from historically low interest rates and steady job growth.

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De Beers's Return to Southern Africa Transforms Sleepy Capital

De Beers’s expanded presence has helped transform Botswana’s capital over the past few years, turning it into a hub for a cosmopolitan crowd of gem buyers and upending the lives of dozens of company employees.

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Yahoo Reaches Deal With Starboard to Add Board Members

Yahoo agreed with Starboard to add four members to its board, ending the proxy fight the hedge fund launched last month that set up a battle over the future of the Web giant.

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Getty Images Lodges Complaint Against Google With EU

Getty Images lodged a complaint with the EU’s antitrust watchdog over Alphabet’s Google, accusing the U.S. tech giant of abusing its dominance in search to display copied images without compensation.

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Boeing Profit Falls as Commercial Deliveries Lag

Boeing said its first-quarter profit fell as the aircraft maker delivered fewer commercial jets.

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Comcast Profit Tops Estimates

Comcast reported better-than-expected financial results and added video customers again in the first quarter, extending a strong streak for the cable industry in a weak overall pay-TV market.

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Brown-Forman to Acquire BenRiach Distillery for $416 Million

Brown-Forman agreed to buy the BenRiach Distillery Co. for about £285 million (about $416 million), adding three single malt Scotch whisky brands to its growing portfolio.

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GlaxoSmithKline Sees First-Quarter Profit Fall

GlaxoSmithKline said net profit fell in the first quarter of 2016, due to a tough year-earlier comparison that had been boosted by proceeds from its Novartis deal, without that effect, profit rose on cost savings from the same deal.

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Amazon to Open Two New N.J. Centers, Create 2,000 Jobs

Amazon.com said it would create 2,000 jobs in New Jersey by opening two new fulfillment centers in the state.

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Rocket Internet Projects 67% Fall in Global Fashion Group Valuation

Rocket projected a fall in the value of its online retail startup from €3.04 billion to €1.0 billion, highlighting the widespread uncertainty around tech startups.

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Texas, Oklahoma, Wyoming: Oil Woes Start to Hit Hard

Rising unemployment in the energy sector is pushing up loan delinquencies and raising the risk of new losses for banks.

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Britain Looks to U.S. to Add Some Tonic to Gin Exports

As gin is booming in the U.K. with the opening of new distilleries, manufacturers and the government are looking for exports to be as successful as those of scotch.

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Total Profit Sinks Despite Output Boost

French oil giant Total said its net profit fell 40% during the first quarter of 2016 compared with a year earlier, despite large cost cuts and an elevated level of production.

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Adidas Extends Winning Streak

German sporting-goods company Adidas’s return to form continued as it raised its guidance for 2016 for the second time in three months on a leap in earnings.

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Mitsubishi Skips Full-Year Outlook, Citing Fuel-Economy Revelations

Mitsubishi Motors didn’t issue a full-year forecast for the financial year ending in March, citing uncertainties about the impact of its recent admission that it manipulated data to make the fuel economy for some of its cars look better.

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Nintendo: Animal Crossing, Fire Emblem Coming to Smartphones

The videogame giant has thus far declined to feature its most popular characters—including Mario the plumber—on mobile games.

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France's Drahi Consolidates Media Assets, Plans New TV Channels

Telecoms tycoon Patrick Drahi plans to transfer all the French media assets owned by his companies into its telecoms company SFR-Numericable and plans to launch new cable TV channels in France.

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Peugeot's Revenue Falls as China Sales Slump

French car maker Groupe PSA said its first-quarter revenue declined 1.4% to $14.7 billion as demand in China and other emerging markets dragged down strong sales in Europe.

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Valeant Was Too Aggressive in Raising Drug Prices, CEO Says

Valeant Pharmaceuticals International Inc. has made mistakes and been too aggressive in the past in dramatically boosting ​the ​price​ of some of its drugs, the company’s outgoing chief executive is expected to tell a Senate committee Wednesday.

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Pioneering Barnes & Noble Leader to Step Down

Book retailer Leonard Riggio said in an interview Tuesday that he will step down as executive chairman of Barnes & Noble, following the company’s annual meeting scheduled for September.

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Australia's Largest Dairy Processor Cuts Profit Forecast

Shares of Murray Goulburn Co-Operative dropped sharply after the dairy processor reduced its net-profit forecast due to the stronger Australian dollar, low commodity prices and a fall in demand for its higher-margin products.

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Comcast in Talks to Buy DreamWorks Animation for More Than $3 Billion

Comcast Corp. is in talks to buy DreamWorks Animation for more than $3 billion, according to people familiar with the matter.

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Chipotle Posts First-Ever Quarterly Loss

Chipotle Mexican Grill posted its first loss as a public company Tuesday, with its sales tumbling 23% following a series of food-illness incidents.

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H&R Block U.S. Tax Return Volume Declines 5.8%

H&R Block reported that the number of U.S. tax returns handled during the latest tax season fell 5.8%, prompting the company to unveil a plan to streamline operations and shuffle management.

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Oil Companies' Bet on Kurdistan Turns Sour

Oil companies that piled into Iraqi Kurdistan after Saddam Hussein’s ouster are running into trouble, unraveling the region’s promise as source of easy-to-drill oil and threatening Iraq’s production surge.

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EBay Tops Expectations as Sales Rise

EBay’s sales rose for the first quarter in five as volume picked up, suggesting the company’s turnaround efforts are taking hold. The company also issued upbeat guidance.

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Data Recorder of Sunken Cargo Ship El Faro Found

Federal investigators have located the voyage data recorder, or black box, belonging to the cargo ship El Faro, which sank last October near the Bahamas after sailing into a hurricane.

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AT&T Tops Expectations, Adds Customers as It Folds in DirecTV

AT&T Inc. logged stronger-than-expected earnings growth in its latest quarter as the company added new customers and benefited from its DirecTV acquisition.

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Full-Time Hires Buck the Trend at Fast-Food, Retail Chains

Some fast-food and retail chains are hiring more full-time workers, saying the shift has resulted in better customer service, lower turnover and a more engaged workforce.

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Apple Posts First Quarterly Sales Drop Since 2003

Apple’s quarterly profit fell 22.5% as revenue declined for the first time since 2003 and iPhone sales declined for the first time ever.

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Twitter's Revenue and User Growth Underwhelm

Twitter Inc.’s long-awaited turnaround is still a work in progress. The social media company on Tuesday showed few signs that it has resuscitated growth, while revenue increased at a slower rate compared with a year earlier. Shares dropped 9.9% to $15.98 after hours.

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Chinese Bidders Expected in Upcoming Sale of ING Life Korea

Asian private-equity firm MBK Partners LP is kicking off the sale of one of South Korea’s largest life insurers in a deal that could fetch more than $3 billion, according to people familiar with the situation.

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S&P Strips Exxon of Triple-A Credit Rating

Standard & Poor’s Ratings Services downgraded Exxon Mobil, the world’s largest publicly traded oil company, stripping it of its triple-A rating after more than six decades with the pristine mark.

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ECB Can't Respond to Needs of Individual Countries, Says Weidmann

The European Central Bank can’t react to the needs of individual countries, said Jens Weidmann, a member of the central bank’s Governing Council. 

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FTC Extends Probe Into Google's Android

Federal Trade Commission staffers have met with companies in recent months to examine industry concerns that Alphabet Inc.’s Google abuses the dominance of its Android smartphone software.

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Intel CEO Details Priorities Beyond PCs

Brian Krzanich provided further details on how the company hopes to generate more revenue growth, describing five priorities for the chip maker as it reduces its dependence on the shrinking personal computer market.

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FBI to Keep Apple iPhone-Hacking Method Secret

The FBI plans to tell the White House it knows so little about the hacking tool that was used to open the San Bernardino shooter’s iPhone that it doesn’t make sense to launch an internal government review about whether to share the hacking method with Apple.

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Sports Authority Abandons Hope of Reorganizing

Sports Authority has abandoned hope of reorganizing and exiting bankruptcy and instead will count on buyers to save parts of its sprawling retail chain.

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Once Bustling Trade Ports Lose Momentum

From Shanghai to Hamburg, the once bustling global trade ports that handle giant container ships on key shipping routes are falling quiet as business turns down.

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U.S. Consumer-Confidence Index Fell in April

A gauge of U.S. consumer confidence declined in April, a sign of caution that potentially could restrain household spending and the broader economy.

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Tribune CEO Blasts Gannett as "Playing Games" With Takeover Bid

Tribune Publishing Inc. Chief Executive Justin C. Dearborn said its board is reviewing Gannett Co.’s roughly $400 million takeover offer but criticized the USA Today owner for “playing games” during the proposal process.

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Former Valeant Financial Chief to Testify Before Senate

Howard Schiller, Valeant’s former chief financial officer, will join the Valeant witnesses testifying Wednesday at a Senate committee hearing investigating the company’s business practices.

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U.S. Home-Price Growth Continued in February

The S&P/Case-Shiller Home Price Index covering the entire nation rose 5.3% in the 12 months ended in February, unchanged from the previous month.

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T-Mobile Swings to Profit

T-Mobile US said it swung to a profit as revenue improved by a better-than-expected amount and as the wireless provider continues to add customers rapidly.

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Freeport-McMoRan Loss Widens, Unveils Job Cuts

Freeport-McMoRan said its first-quarter loss widened as the copper miner took another big write-down on its oil-and-gas business. The company also announced a workforce reduction of roughly 25%.

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Hershey Says Profit and Sales Decline, Buys BarkTHINS Maker

Hershey said profit and revenue declined, hurt by lower-than-expected sales of candy, mint and gum. Separately, Hershey said it had bought the maker of the barkTHINS snacking chocolate brand.

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U.S. Durable Orders Rose 0.8% in March

Orders for long-lasting manufactured goods rose last month due to a surge in defense spending, but underlying demand from businesses and consumers appeared to weaken.

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How Long Can the Bank of Japan Wait on Easing?

Officials and market participants agree that the Bank of Japan ought to do more to beat deflation, but they are split about whether it has to do so this week.

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Fiat Chrysler's Profit Jumps

Fiat Chrysler Automobiles said its first-quarter net profit rose to $539 million as North American consumers snapped up higher-priced SUVs and pickups.

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P&G Earnings Top Expectations, but Volumes Fall

Procter & Gamble Co. on Tuesday reported better-than-expected earnings for its March quarter as a core sales metric improved, though volumes declined across nearly all of its businesses.

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Eli Lilly Revenue Boosted By New Drug Sales

Lilly said revenue rose in its latest quarter as sales of new drugs helped offset declines in some established products.

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Office Depot Results Hurt by Staples Uncertainty

Office Depot, in the midst of regulatory pushback over its tie-up with rival Staples, reported weaker-than-expected first-quarter profit and revenue amid uncertainty surrounding the deal.

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Whirlpool Results Dragged Down on Weakness Abroad

Whirlpool Corp. reported revenue and profit declines as weakness abroad offset gains in the U.S.

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BP Results Still Hurt by Gulf Spill

BP’s fatal blowout in the Gulf of Mexico in 2010 continues to haunt the company, dragging its quarterly earnings to a second consecutive loss and overshadowing progress on lowering costs that prompted shares to jump 3%.

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Mitsubishi Used Improper Fuel-Economy Tests Since 1991

Mitsubishi Motors said it has been using improper fuel-economy testing methods for certain cars in Japan since 1991.

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Pitney Bowes Seeks to Ride Shipping Services into Digital Era

Postage meter provider will extend online-focused applications to small companies as it moves away from machines.

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Toshiba to Take $2.3 Billion Write-Down on Nuclear Business

Toshiba said it would write down the goodwill value of its nuclear power-plant business, including U.S. subsidiary Westinghouse Electric, after years of criticism that the company’s outlook on the business was too optimistic.

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Nokia to Acquire French Connected Health Start-Up Withings

Nokia said it plans to acquire Withings, a French connected health start-up in a transaction valued at €170 million ($191.6 million).

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Hyundai Profit Slips as China Sales Slide

Hyundai Motor’s first-quarter profit slid 11% as demand slowed in China—where Hyundai and affiliate Kia Motors posted their third straight sales decline in March—and marketing costs rose in the U.S.

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Alibaba-Disney Partnership Frozen in China

China is putting on ice an Alibaba partnership to bring Disney characters to Chinese screens, at a time when Chinese regulators are tightening control over online content.

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Where Wal-Mart and Philanthropy Mix

The set up for a successful fundraiser is a well-worn formula: rope in a celebrity then sell tickets or solicit donations. In Northwestern Arkansas, celebrity often means Wal-Mart brass.

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DuPont Lifts Outlook on Strong Agriculture Results

DuPont boosted its 2016 profit target after reporting first-quarter earnings that topped analysts’ expectations amid a strong start in its agriculture business.

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Hershey Gets Sweet on Dried Meat Bars

Hershey CEO J.P. Bilbrey says healthier eating habits, shrinking shelf space and an increase in alternative snacks are prompting the 122-year-old chocolate maker to turn to protein bars to sweeten profits.

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Sheltering Foreign Profits From U.S. Taxes Is No Big Feat

The U.S. government stopped drug maker Pfizer from shifting its address overseas to avoid U.S. taxes. But accounting and auditing standards make it easy for U.S.-based businesses to avoid taxes on their overseas profits.

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Detergent Pods More Dangerous to Children

A new study shows that concentrated laundry-detergent packets are more dangerous to young children than other kinds of detergent, and were involved in two deaths and another two dozen life-threatening poisonings in 2013 and 2014.

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Karma Renames Updated Electric Car, Moves Production to U.S.

In a bid to distance itself from its failed predecessor company, Karma Automotive assigned a new name to an updated version of the Fisker plug-in electric car and is moving production of the car to the U.S. from Scandinavia.

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Auto Makers, Others Explore New Roles for 3-D Printing

Many companies, including auto makers, are starting to look at 3-D printing for their supply chains. Ford is experimenting with an alternative to the widely used technology that prints objects layer by layer, a slow process that also creates fault lines that can crack.

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Microsoft's One-Handed Keyboard App is Only For iPhones

Microsoft has built a fantastic one-handed smartphone keyboard, but you’ll need an iPhone--and not a Windows phone--to use it.

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Regulators Recommend Approval of Charter-Time Warner Cable Deal

Federal regulators moved to approve Charter Communications Inc.’s $55 billion acquisition of Time Warner Cable Inc. but said the combined cable giant would have to live under several stringent conditions that single it out among industry rivals.

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Wal-Mart to Drop Wild Oats Organic Food Brand

Wal-Mart is phasing out its Wild Oats organic food brand, a line introduced two years ago to bring inexpensive organics to the masses.

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As Its CEO Leaves for Valeant, Perrigo Continues to Struggle

Perrigo shares tumbled Monday as the company slashed its guidance for the year while announcing the departure of its Chief Executive Joseph Papa, who is moving to lead Valeant.

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Lockheed Earnings: What to Watch

Lockheed Martin opens the defense sector season before the market open on Tuesday. A beat on earnings and raised full-year guidance is widely expected by analysts.

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U.S. Closes Probe Into Honda's Failure to Report Deaths, Injuries

The U.S. government ended its investigation of Honda Motor Co.’s failure to report more than 1,700 death or injury claims and a variety of warranty issues after the auto maker took steps to improve its procedures.

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Job Outlook Brightens for New College Graduates

Good news for the class of 2016: Companies are planning to step up their hiring of new grads. Employers expect to hire 5.2% more freshly minted grads this year than in 2015.

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Bob Evans to Lay Off 1,100 Workers

Restaurant chain Bob Evans Farms said it would close 27 underperforming locations in a move to increase profitability.

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For Counterfeit Fighters on Social Media, Fake Profiles Are a Real Ally

Investigators posing as shoppers infiltrate groups on social media, skirting company rules to eradicate copyright infringers.

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U.S. New Home Sales Fell in March

Sales of newly built homes fell for the third straight month in March, a sign the housing market is still struggling to find firm ground.

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Hanjin Shipping Asks Creditor to Restructure Debt

Hanjin Shipping, South Korea’s largest container operator, has applied for a creditor-led debt restructuring to avoid bankruptcy, reviving talk of a possible merger with rival Hyundai Merchant Marine.

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Concerns Over 11,000 Jobs As BHS Appoints Administrators

BHS, a privately held department-store chain and a mainstay of Britain’s high street, filed for protection from creditors after a restructuring failed to find a buyer or succeed in selling off assets.

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Gannett Offers to Acquire Tribune

Gannett proposed to acquire Tribune Publishing in a deal valued at about $400 million, as the owner of the USA Today seeks to add the Los Angeles Times to its portfolio of newspapers.

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Valeant Names Joseph Papa as New CEO

Valeant Pharmaceuticals International Inc. named Joseph Papa as its next chairman and chief executive as he departs as chief of Perrigo Co.

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Fed Statement Could Offer Clues Toward June Rate Decision

Federal Reserve officials are unlikely to raise short-term interest rates at their meeting this week, but could drop hints about whether they might move at their next gathering in June.

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Xerox Profit Falls 85% as Restructuring Costs Climb

Xerox’s profit fell 85% in the first quarter, dinged by higher restructuring charges, as its business remained challenged ahead of its planned separation.

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Shell Outlines BG Consolidation Plans

Royal Dutch Shell will offer a new voluntary severance program for employees and plans to close a number of U.K. offices in the wake of its roughly $50 billion acquisition of BG Group, the company said.

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EU Regulator to Approve NOL Takeover By CMA CGM This Week

The EU’s competition regulator is expected to approve this week French container-shipping giant CMA CGM’s $2.4 billion acquisition of Singapore’s Neptune Orient Lines Ltd., a person familiar with the matter said.

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Philips More Likely to Sell Lighting Unit Via IPO Than Private Sale

Royal Philips said it is more likely to sell its lighting business via an initial public offering rather than a private sale, sending its shares plummeting.

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EDF to Go Ahead With U.K. Nuclear Plant

Electricité de France will go ahead with the $26 billion nuclear-reactor project at Hinkley Point in the U.K. after the debt-laden French power group approved a capital increase, Chief Executive Jean-Bernard Lévy said.

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Auto Giants Curb Ambitions as China Exits Fast Lane

After years of trumpeting their advance in China, global car makers are now sounding a more cautious note over the world’s largest auto-market.

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Blacklisted Terrorism Financiers Still Active on Social Media

Some terrorist financiers blacklisted by the U.S. government continue to raise money and attract followers on U.S.-based social media, a new report says.

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Why There Are More Consumer Goods Than Ever

The number of new packaged goods introduced each year has soared as a result of productivity gains and advances in manufacturing and supply-chain management. More recently, there is another factor propelling the trend: Facebook.

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Populist Campaign Tone Rankles America's CEOs

Chief executives at big American companies are increasingly frustrated by the populist tone of the presidential campaign, and concerns are mounting that antibusiness rhetoric may solidify even after November.

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NBC's Olympic Goals Are High, Despite Hurdles in Rio

With a little more than 100 days to go before the start of the Rio Olympics, NBCUniversal is rolling out its largest marketing campaign ever for an event it hopes will set TV viewing records. The advertising blitz illustrates how much is riding on the success of the company’s signature sports property amid a variety of woes in Brazil.

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The Rise and Deadly Fall of Islamic State's Oil Tycoon

A document trove tells how Abu Sayyaf faced challenges familiar to all oil executives—and some unique to a terrorist group, such as approving expenses for the upkeep of slaves and dodging U.S. airstrikes.

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Mystery on Wall Street: How P&G Will Deliver on Cost Cuts

Procter & Gamble’s boss has promised investors $10 billion in belt-tightening, as the big consumer-goods company tries to adjust to a future of slower growth. Trouble is, analysts don’t know how he will get there.

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Seniors Scramble for Potential Fountain of Youth

An upcoming drug study has seniors hounding doctors for a chance to get in on the action, with many trying to prove they’re worthy.

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CVC Capital Takes Stake in Sports-Betting Company Tipico

Private-equity firm CVC Capital Partners said it acquired a majority stake in privately held German sports-betting company Tipico Co.

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Lawyer Takes Aim at Volkswagen in Europe

A U.S. class-action attorney has launched a website to sign up disgruntled European customers, investors and other parties damaged by the Volkswagen emissions scandal

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Apple's Watch Outpaced the iPhone in First Year

Apple’s smartwatch, dogged by perceptions it is a disappointment, sold twice as many units as the iPhone in each device’s debut year.

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Airbus Gains New Financing Ally in U.S.

Airbus Group will open itself up to financing from an unlikely source when the first jet is delivered Monday from its new factory in Alabama: the U.S. Export-Import Bank.

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China's Tech Leaders Try Teaching Dinosaurs to Dance

China’s young technology giants are linking arms with unlikely new partners: struggling state-owned enterprises, which represent an increasing burden on the country’s slowing economy—and which Beijing is pressing to modernize.

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U.S. and U.K. to Release GDP; Fed and BOJ to Meet

This week, data releases from the U.S., U.K. and Japan will help give a read on where the global economy stands, and the Federal Reserve and Bank of Japan are meeting to set monetary policy.

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Barrick Gold Turns to New Finance Chief

Investors will get their first chance to size up a new finance chief at the world’s largest gold producer this week, when Barrick Gold reports first-quarter earnings. Catherine Raw will be the company’s fourth CFO in five years.

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Department Stores Need to Close Hundred of Sites, Research Firm Says

U.S. department-store chains need to close hundreds of locations if they want to regain the productivity they had a decade ago, according to real-estate research firm Green Street Advisors.

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Long-Term Costs of Cutting Emissions Grow Hazy

The world’s top officials just signed an agreement to slow the buildup of planet-warming greenhouse-gas emissions. They have yet to grapple with the cost of implementing it.

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Uber Reaches a Tipping Point With Its Drivers

Uber Technologies Inc.’s settlement of a class action suit opens the door to tipping the ride-hailing company’s drivers, but some customers might not want to pony up the cash.

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Chipotle Counters Frightful Results

Chipotle Mexican Grill has warned it will post a loss because of its food-safety problems, but when it reports quarterly earnings Tuesday, investors will be looking for signs that freebies are winning back customers.

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Federal Prosecutors Drop Case to Force Apple to Unlock iPhone

Investigators were able to get the passcode from the phone’s owner, but the dropping of the case adds new uncertainty to the government’s standoff with the technology company over encryption.

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Questions Mount Over Prince's Music Catalog

Since Prince’s death, speculation has mounted over the trove of unreleased music he left behind. But nearly as much uncertainty hangs over his existing body of work, which has been largely unavailable on many of the most popular online services.

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Richard Ransom Founded Hickory Farms Chain: 1919-2016

Richard Ransom, who died earlier this month at age 96, founded the Hickory Farms store chain. After selling the business, he created a charity that finds homes for children who are usually overlooked by adoptive parents

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Meet the Venture Capitalist Whom Venture Capitalists Love to Hate

Chamath Palihapitiya has established himself as one of the most prominent venture capitalists in Silicon Valley—and surely the most abrasive—partly by shaming his own industry for its acknowledged lack of diversity.

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Caterpillar Pares Guidance Amid Sluggish Demand

Caterpillar Inc. said sales of its construction machinery in China are starting to improve, though still-sluggish global commodity markets forced the company to cut its full-year profit and revenue forecasts.

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VW Posts Loss; Germany Recalls Other Diesel Cars

Volkswagen reported its biggest annual loss on an $18 billion charge to earnings for costs related to an emissions-cheating scandal that has roiled the auto industry as new crackdowns on car makers across Europe suggest there could be a wider problem

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On Valeant's Planner: Congressional Testimony (Maybe) a New CEO and 10-K

Washington and Wall Street will have their sights on Valeant Pharmaceuticals International Inc. this upcoming week.

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Frontier Fields Customer Complaints After Switch-Over From Verizon

Frontier Communications is facing a flurry of customer complaints after acquiring millions of phone, television and Internet accounts in three states from Verizon Communications this month.

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Siemens to Showcase Its U.S. Presence During Obama Visit

Siemens CEO Joe Kaeser says the German company is well-positioned to help modernize U.S. industry through factory automation and the digitization of data for manufacturers.

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GM's Mary Barra Drives Off With 77% Jump in Compensation

General Motors said Chief Executive Mary Barra earned $28.6 million in total compensation during her second year at the company, as demand for pickups and SUVs powered record profits and sales.

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FAA Mandates Engine-Icing Fixes for Up to 150 Boeing 787 Jets

GE engines powering as many as 150 Boeing 787 jets world-wide are susceptible to sudden in-flight shutdowns due to internal ice accumulation, prompting U.S. regulators to order swift fixes to eliminate the danger.

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GM's Steve Girsky to Leave Board

Steve Girsky is leaving General Motors Co.’s board of directors after seven years aiding the Detroit auto giant’s rebuild, including the overhaul of European operations, following its bankruptcy filing.

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VW Plans Charge of $18 Billion for Emissions Scandal

Volkswagen took a $18.28 billion charge related to the diesel emissions cheating scandal, forcing it to slash its 2015 dividends and post a deep loss.

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Home-Price Surge Stymies First-Time Buyers

Escalating prices and tightening availability of homes point to the challenges facing many of the largest U.S. real-estate markets as the crucial spring selling season heats up.

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McDonald's Profit Climbs Above Expectations

McDonald’s Corp. reported a jump in first-quarter profit that easily topped expectations as all-day breakfast continued to attract customers—more evidence that the company’s turnaround efforts are paying off.

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Carnival to Sail From U.S. to Cuba

Carnival said Cuba-born passengers will be able to travel on its cruise ships sailing to the country from the U.S., with a first voyage expected to take place May 1.

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GE Posts Revenue Core Earnings Growth

General Electric Co. on Friday reported growth in revenue and core earnings, though profit in its industrials business slid.

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Boeing Ramps Up Push Into the Airplane Parts Business

Boeing is ramping up its push into the spare parts business, as part of a broad effort to cut costs and secure a new source of revenue even more lucrative than making aircraft.

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Apple Halts Online Book Movie Services in China

Apple has suspended its online book and movie services in China as it seeks a way to comply with the country’s stringent new content regulations.

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Daimler Profit Drops

Daimler, the maker of Mercedes-Benz cars, said net profit declined sharply in the first quarter despite improved revenue, pegged back by less robust demand for its S-class and E-class sedans

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Germany Mulls Limiting Prices Drug Firms Can Charge to Health System

The German government is considering limiting the price that drug companies can charge the country’s health care system for their latest medicines—a move that would curtail a lucrative, one-year amnesty from the country’s otherwise strict price controls.

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Foreign and Domestic SUVs to Face Off at Beijing Auto Show

Foreign firms that have felt the sales impact of not having a stronger SUV portfolio in China are expected to unveil new models when the motor show opens Monday.

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Uber Settles Two Class-Action Labor Disputes

The ride-hailing company said Thursday it has settled two closely watched class-action labor disputes covering 385,000 drivers in California and Massachusetts that will let Uber continue classifying drivers as contractors.

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Valeant Finalizing Contract With Perrigo's Joseph Papa as Next CEO

The drug company is hoping that a fresh face and an experienced pharmaceutical-industry boss will calm nervous investors.

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Former Exxon CEO Clifton Garvin Dies

The publicity-shy engineer who headed Exxon Corp. during the oil-price swings of the 1970s and early 1980s died Sunday. He was 94.

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As Oil Jobs Dry Up Workers Turn to Solar Sector

Plunging oil and gas has generated more than 84,000 pink slips in Texas. But many rig hands, roustabouts, pipe fitters are finding a surprising alternative in utility-scale solar farms.

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Gap Pulls T-Shirts After Indie-Rock Bands Protest

Gap Inc. is pulling T-shirts displaying the names of two indie rock bands from store shelves after the musicians accused the retailer of selling the items without their permission.

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Sears to Close Another 78 U.S. Stores

Sears Holdings Corp. will close another 78 U.S. stores as it tries to return to profitability after five consecutive years of losses.

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Univision Buys Out Disney's Stake in Fusion

Disney’s ABC has exited its partnership with Univision Communications in Fusion, a cable and digital news network that targets the millennial generation.

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Norfolk Southern Reports Surprise Jump in Profit

The railroad operator said its profit rose 25% in the first quarter from the same period a year ago, as Norfolk Southern’s efforts to cut costs kicked in.

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Google Earnings Fall Short of Views

Google parent Alphabet said its earnings rose 20% in the year’s first three months, but the results fell short of analyst estimates amid increased losses from the company’s “Other Bets.”

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Microsoft's Profit Slides

Microsoft earnings declined 25% in the third quarter, as the company reported lower operating profits across several of its business lines. Shares fell 4.5% to $53.25 in recent after-hours trading as per-share earnings and revenue missed expectations.

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Starbucks Sales Growth Disappoints

Starbucks said its quarterly profit increased 16% as the coffee chain saw increased domestic demand and drew in more mobile users. But sales grew less than expected, pressuring its shares after hours.

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Schlumberger Profit Falls as Revenue Slumps

Schlumberger Ltd. said its first-quarter earnings fell 49% and revenue tumbled as reduced spending by energy producers continued to hurt demand.

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Google and Other Bets: Alphabet's Q1 Earnings -- Live Blog

Alphabet’s first-quarter earnings report gives Wall Street a chance to ask about the Google parent’s next big money maker.

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FBI Paid More Than $1 Million to Hack San Bernardino iPhone

The Federal Bureau of Investigation paid more than $1 million for a hacking tool that opened the iPhone of a terrorist gunman in San Bernardino, Calif., FBI Director James Comey said.

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Fortunes of Kering Brands Diverge

Fashion holding company Kering reported Thursday a 3% increase in first-quarter revenue to €2.72 billion as strong sales at Yves Saint Laurent failed to make up for sluggish growth at flagship brand Gucci and declining performance at Bottega Veneta.

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France's PSA Group Raided In Emissions Investigation

Car maker PSA Group on Thursday said it was raided by French antifraud authorities as part of an investigation into automobile emissions, triggered by Volkswagen AG’s cheating on tests in the U.S.

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Broadband Data Caps Pressure 'Cord Cutters'

Data limits by home Internet providers like Comcast and AT&T, which also offer pay-TV services, are forcing people who stream Netflix or Sling TV to ration Web usage or pay surcharges.

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Sean Parker's Airtime Reboots as Group Video Hangout App

Unlike the earlier desktop version built for one-to-one video chat, the service now lets users text and video chat in groups of up to 250 people.

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Indonesia Climbs in Ranking of World's Largest Manufacturers

The United Nations has ranked Indonesia as the world’s 10th-largest manufacturer, with the island nation overtaking Russia and the U.K.

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First U.S. Gas Shipment En Route to Europe

The 970-foot long tanker Creole Spirit is expected to arrive in Portugal by the end of April, the first shipment in a trade relationship that could shake up the European market.

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Renault Revenue Improves on European Demand

Renault reported a 12% rise in revenue as strong European demand and an increase in the French car maker’s contract manufacturing business compensated for a decline in emerging markets.

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Volkswagen Reaches Deal With U.S. Over Diesel-Emissions Scandal

Volkswagen has reached the broad outlines of a deal with U.S. authorities over its diesel-emissions scandal that includes buybacks of cars and compensation for U.S. drivers. The company didn’t specify the cost of the deal or specifics of the proposal.

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Starbucks Opens First Store in South Africa

Starbucks Corp. has joined the deluge of international food and retail chains establishing a presence in South Africa, in an effort to tap the continent’s expanding consumer class.

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SunEdison Files for Chapter 11 Bankruptcy Protection

Solar-energy company SunEdison Inc. on Thursday said it filed for chapter 11 bankruptcy protection, a dramatic move for a company whose market value stood at nearly $10 billion in July.

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Viacom and Dish's Carriage Talks Continue

Viacom’s channels remained on satellite provider Dish Network’s service early Thursday as the companies continued carriage-renewal negotiations past the deadline.

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Fed Watchdog Says Media Release Safeguards Need Improvement

The Federal Reserve should strengthen its controls to safeguard sensitive economic information released early to the media, a government watchdog said in a report.

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Verizon Profit Rises but Revenue Misses Estimates

Verizon Communications Inc.’s profit rose in the latest quarter, though revenue climbed less than Wall Street had expected amid weakness in the company’s wireless division.

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Under Armour Results Jump on Strength of Stephen Curry Shoe Line

Under Armour again posted double-digit revenue and profit gains in its latest quarter as Stephen Curry’s basketball shoe line continues to power its footwear business.

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U.S. Jobless Claims Dipped to 43-Year Low

The number of U.S. workers who applied for new unemployment benefits declined last week to the lowest level in 43 years, a sign of the labor market’s vitality.

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GM's Profit More than Doubles

GM’s first-quarter net profit more than doubled compared with the same period in the prior year as strong truck sales in the U.S. and improving performance in Europe offset weaker conditions in Asia and South America.

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Hapag-Lloyd United Arab Shipping Expected to Announce Tie-Up

German container shipping giant Hapag-Lloyd and Dubai-based rival United Arab Shipping are discussing a broad tie-up that would combine their fleets, amid a consolidation frenzy that is sweeping the industry.

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Mitsubishi Scandal Points to Big Competition Among Japan's Tiny Cars

Mitsubishi Motors’ admission to cheating on fuel-economy tests highlights the intense competition for fuel efficiency both globally and in a market segment unique to Japan called “kei” or minicars.

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Southwest Profit Climbs 13%

Southwest Airlines’ bottom line continued to soar, with profit jumping 13% in the latest quarter, as the airliner again benefited from cheap fuel and the modernization of its fleet.

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Glaxo Investors Want CEO Who Can Revitalize R&D

As Glaxo’s search for a new boss gets under way, one requirement ranks high on investors’ wish lists: someone who can breathe new life into its drug-development machine.

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Sony Lowers Operating-Profit Estimate

Slow device sales, negative interest rates cut into Sony’s earnings for the latest fiscal year, the company says, but it still expects its net income to rise thanks to tax adjustments.

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Volkswagen Shares Rise Ahead of Court Deadline

Volkswagen’s shares continued to gain ahead of a court deadline when the car maker is expected to submit a proposal to resolve its emissions-cheating scandal in the U.S.

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Ericsson Shares Sink After Results Fall Short

Shares in Ericsson dropped more than 7% after its first-quarter results missed expectations and it announced a shake up of senior management, reflecting the tough trading conditions in the telecommunications-equipment sector.

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Novartis Earnings Fall on Slide in Cancer-Drug Sales

Novartis said first-quarter earnings fell as the Swiss company plowed investment into new drug launches to offset a sharp dip in sales of the its blockbuster cancer medicine Gleevec.

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Pernod Ricard Sales Slip

French liquor group Pernod Ricard said fiscal third-quarter sales declined 3%, with currency volatility and weak demand in China, partly reflecting an earlier Lunar New Year, offsetting a strong performance in the U.S.

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Japan's Quake-Hit Companies Struggle to Get Back to Work

Companies with factories in quake-struck southern Japan, including Suntory Holdings and Honda Motor, are struggling to return to full production as aftershocks hinder their efforts.

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Harriet Tubman Is Picked to Grace $20 Bill

Treasury Secretary Jacob Lew said he would put abolitionist Harriet Tubman on the $20 bill, bowing to public pressure after a long-running campaign to solicit input on his initial proposal to put a woman on the $10 bill appeared to misfire.

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Cloud Mobile Shifts Slam Tech's Old Guard

EMC became the third old-guard tech company in three days to report disappointing results stemming from the industry’s rapid shift to new ways of computing.

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Upscale Shopping Centers Nudge Out Down-Market Malls

Retailers are abandoning a decades-old strategy of growing sales by blanketing cities with stores as consumers shop more online. Their shifting habits have prompted chains to close stores in secondary malls and focus on web sales and more upscale shopping centers.

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This Former Telecom Exec Leads a Dual Life as an Artist

Rudolf Humm, an emerging artist in London, is the alter ego of Philipp Humm, a former top executive at T-Mobile.

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Snapchat Is Criticized for Bob Marley Selfie 'Lens'

Snapchat on Wednesday offended some users of its messaging app with a photo “lens” that alters their likeness to that of reggae legend Bob Marley—including a skin-darkening tint some people equated to blackface.

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Qualcomm Profit Rises 11% Dispute With LG Resolved

Qualcomm Inc. said its earnings rose 11% in the latest quarter as a gain from the sale of U.K. assets helped to offset a revenue decline.

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Yum Brands Profit Climbs Helped by China Strength

Yum Brands Inc.’s profit rose in the March quarter as its China business continued to show signs of recovery, posting its third consecutive quarterly increase in a key sales metric.

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Las Vegas Sands Profit Falls

Las Vegas Sands Corp. reported first-quarter results below Wall Street expectations, as the Macau market remained challenging.

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VW Fights Push to Take U.S. Diesel Civil Suit to Trial

Volkswagen is fighting efforts by plaintiffs in a U.S. civil suit over tainted diesel cars to push the case to trial.

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Mattel Loss Widens Amid Continued Barbie Slump

Mattel’s loss widened as a sales slump that has bedeviled some of its iconic brands such as Barbie carried into the March quarter.

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SunEdison's Failed Deals Could Bite Back

The deal-making frenzy that hastened SunEdison’s collapse could continue to cause problems for the solar-power company during its bankruptcy.

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Tencent Alibaba Battle for Chinese Office App Users

The war to control office communications in China began in earnest Monday, writes Li Yuan, when Tencent launched its Qiye Weixin, or Enterprise WeChat, app. The new app aims to protect the WeChat franchise, and repel a threat from Alibaba.

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Expat Oil Workers Fall on Hard Times

Amid the energy industry’s deepest retrenchment in two decades, some oil and gas workers who followed the energy boom of the last decade in search of better opportunities are finding themselves jobless and far from home.

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VW Crisis Comes to a Head This Week

Volkswagen faces two milestones in its emissions-cheating crisis: directors get a report on the causes of a years-old falsifying of diesel tests and must submit a remedy proposal to a U.S. judge considering civil penalties.

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Harriet Tubman to Be Added to $20 Bill

Treasury Secretary Jacob Lew will announce plans to put Harriet Tubman on the $20 bill, according to a Treasury Department official.

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Canada Does the Global Economy a Favor

Canadians are acting like model global citizens in macroeconomic policy, with a combination of monetary and fiscal stimulus that may end up helping the rest of the world as much as it helps Canada.

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EMC Misses Expectations Dell Deal on Track

EMC Corp., in the process of being taken private by Dell Inc., logged disappointing results in its latest quarter amid an excess of unfilled orders.

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Daily Mail Says It Hasn't Submitted Bid to Purchase Yahoo

Daily Mail & General Trust hasn’t submitted a bid to purchase Yahoo and remains in talks with other parties who are interested in the U.S. internet giant, the U.K. media group said.

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U.S. Existing Home Sales Rose 5.1% in March

WASHINGTON—Sales of previously owned homes rose in March, a sign of recovery in the housing market after a rocky start to the year although inventory remained tight.

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United Continental Settles Board Fight With Investors

United Continental Holdings Inc. and two of its big investors have settled a fight over the makeup of the airline’s board of directors, staving off a bruising public battle over the company’s future.

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Tech Firms Dominate the Top-Paying Companies in U.S.

The tech industry, where a dearth of talent is driving up annual salaries well past $100,000, dominates a new list of the top-paying companies in the U.S.

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Dish Network Profit Beats Though Subscriptions Fell

Dish Network posted surprise profit growth in the first quarter, helped by sharply lower interest expenses, even as revenue grew less than expected and subscribership declined.

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Turkey's Central Bank Chief Cuts Key Rate in Inaugural Move

Turkey’s central bank cut a key interest rate, with incoming Governor Murat Cetinkaya kicking off his tenure by accelerating a policy-easing cycle in the face of slowing inflation and a stabilizing domestic currency.

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Coke Profit and Revenue Fall as Volume Is Flat

Coca-Cola Co. on Tuesday said revenue and profit declined in its latest quarter as soda volume was flat amid weakness abroad.

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EU Files Formal Charges Against Google Over Android Conduct

The European Union fired off its second round of formal antitrust charges at Alphabet’s Google in less than two years, accusing the U.S. tech giant of abusing its dominance of its Android mobile operating system.

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Twitter Goes on Defensive About China Head's Background

Twitter says its strategy hasn’t changed, and the region’s new managing director, who has past links to China’s military and security agencies, will focus on selling services to companies.

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Container Operators China Shipping Group CMA-CGM Form Ocean Alliance

Some of the world’s biggest container operators including China Shipping Group and France’s CMA CGM said they would form Ocean Alliance to rival the dominance of the existing 2M tie-up between Denmark’s Maersk Line and Geneva-based Mediterranean Shipping Co.

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Telia's Outlook Brightens Despite Profit Drop

Nordic telecom operator Telia reported a 4.9% decline in first-quarter net profit, partly from a sharp decline in revenue from its operations in Eastern Europe and central Asia, a region it is exiting after bribery allegations.

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Mitsubishi Motors Finds Improprieties in Its Fuel-Economy Tests

Mitsubishi Motors said there were improprieties in its tests related to the fuel economy performance of its vehicles. The company’s shares closed more than 15% lower.

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ARM Holdings Profit Advances

ARM Holdings said revenue and profits grew in the first quarter of 2016, though the British chip designer warned that economic uncertainty could slow the industry the rest of the year.

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Syngenta Says ChemChina Deal on Track

Syngenta Chief Executive John Ramsay said regulatory reviews of the Swiss seed and pesticide company’s $43 billion acquisition by ChemChina are on track so the deal should close by the end of the year.

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SAP Profit Soars Nearly 40% on Cloud Strategy

The German business software provider reported a 38% gain in net profit for the first quarter, indicating SAP’s focus on Internet-based cloud software is starting to pay off.

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Family Fight Heats Up in Redstone Lawsuit

Sumner Redstone’s granddaughter accused his daughter, Shari Redstone, in court papers Tuesday of pressing for a “do not resuscitate” order and other noninterventionist health measures for the media mogul, over his strong objections.

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ABB Reports Lower Profit Wary on Energy-Sector China Outlook

Zurich-based power-grid and automated-products maker ABB reported an 11% decline in first-quarter net profit and warned of a challenging mix of declining energy prices and slower economic growth in China.

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United Continental and Shareholders Settle Board Fight

United Continental and two big investors have settled a fight over the makeup of the airline’s board of directors, staving off a bruising public battle over the company’s future.

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Colombian Oil Producer Falls From Grace

Latin America’s largest privately owned oil producer said it was preparing to file for bankruptcy-court protection after reaching a tentative restructuring deal Monday that leaves shareholders with cents on the dollar.

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Companies Wind Up in the 'Penalty Box' on Executive Pay

Say-on-pay votes don’t give shareholders power to cut executive rewards, but they can suggest investor discontent. The only thing worse than losing a say-on-pay vote is losing two votes. Or three.

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Lexmark to Be Sold in Deal With Enterprise Value of $3.6 Billion

Lexmark International agreed to be acquired by a consortium of investors led by Apex Technology and PAG Asia Capital for $3.6 billion, or $40.50 a share.

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Google CEO Received $100.5 Million in 2015 Total Compensation

Google Chief Executive Sundar Pichai made $100.5 million in total compensation in 2015, making him one of the world’s highest-paid executives.

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Intel to Cut 12000 Jobs

Intel plans to reduce its global workforce by up to 12,000 jobs, or 11%, as the semiconductor giant seeks to transition away from being a company focused on computer chips.

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Yahoo Posts a Loss as Revenue Falls

Suitors for Yahoo Inc. got a reminder of the challenges facing the struggling Web business on Tuesday when it reported first-quarter results.

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Shipping Lines Take New Global Alliance to Regulators

Newly-merged China Shipping Cosco Group and carriers in Asia and Europe are preparing a lineup of five operators to share capacity in beleaguered market.

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Lawmakers Struggle For Answers on Encryption

Lawmakers struggled Tuesday for answers to the standoff over encryption between law enforcement agencies and technology firms, saying they hoped a middle road could be found between security and privacy but offering few ideas on how to find one.

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Tesla Quality Woes Test High-Volume Goals

As Tesla Motors prepares to start Model 3 production and fulfill a reservation list that tops 325,000 potential buyers, getting better at product launches is a priority for the luxury electric-car maker.

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DOJ Asks VW To Keep Probe Results Secret

The Justice Department asked Volkswagen to refrain from publicly releasing the results of an independent investigation into the company’s misrepresentation of pollution by its diesel cars.

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Coca-Cola's Diet Versions to See Red

Coca-Cola Co. says it will roll out new packaging for cans and bottles of Diet Coke, Coca-Cola Light, Coca-Cola Zero and Coca-Cola Life that will be largely red in color and closely resemble the iconic packaging of regular Coca-Cola.

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Passed Over for a Promotion? Next Steps

Turn a rejection into bigger and better future jobs with these strategies to make yourself a stronger candidate, writes Joann S. Lublin.

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Viacom's Carriage Renewal Talks With Dish Break Down

Viacom said its discussions with satellite TV provider Dish Network to renew carriage of its TV channels have broken down, and its programming will likely go dark for Dish customers.

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GM's First-Quarter Global Sales Fall 2.5%

General Motors Co. reported its world-wide sales slipped 2.5% in the first quarter, dragged by continued weakness in South America and Asia and a softer mini-commercial vehicle market in China.

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Lew Planned to Put Susan B. Anthony on $10 Bill

Treasury Secretary Jacob Lew planned last year to announce a redesign of the $10 bill that would put Susan B. Anthony on the front, but he changed course and decided to ask the public which woman should go on the bill.

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Adidas Wrong-Footed in Puma Sports-Shoe Case

A German court dismissed Adidas’s attempt to stop rival Puma from using a shoe-sole technology for sports shoes similar to the one used in Adidas’s popular “boost” series.

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New Model for Independent Bookstores

More bookstores are opening with technology and tactics that help them cater to local book lovers.

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Australia Cattle Empire S Kidman Approves Sale to China-Led Group

An earlier proposed deal was rejected by the government last year as being not in the national interest.

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EU Antitrust Body to Charge Google Over Phone Apps

The European Union is set to slap Alphabet’s Google with formal antitrust charges over the U.S. tech company’s conduct with its Android mobile-operating system, according to two people briefed on the investigation.

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U.S. Housing Starts Fell 8.8% in February

Home building in the U.S. slowed in March to its lowest level since October as the housing market searched for firm footing in the first quarter.

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OECD Sees Employment Return to Precrisis Levels

The share of working-age people in advanced economies who have jobs finally returned to precrisis levels in the final three months of 2015, the Organization for Economic Cooperation and Development said.

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Plane Makers' Employees Buffeted Despite Booming Orders

The world’s biggest airliner makers, Boeing and Airbus, are enjoying record orders but, for employees at the companies and their suppliers, the good times are over.

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Johnson & Johnson Beats Expectations Boosts Guidance

Johnson & Johnson raised its guidance for the year as the health-care giant beat earnings expectations in the first quarter despite foreign exchange rates dragging revenue growth.

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Philip Morris Boosts Outlook as Profit Falls

Philip Morris International boosted its profit forecast for the year as it sees currency headwinds waning, while reporting weaker-than-expected first-quarter results.

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Harley-Davidson Profit Falls Less Than Expected

Harley-Davidson said profit fell less than expected, buoyed by higher motorcycle sales that the company attributed to newer products and a ramped-up marketing campaign.

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Verizon Turns to Shadow Workforce Amid Strike

At Verizon, a shadow workforce of managers, lawyers and accountants are filling in for nearly 40,000 technicians, repairmen and call center workers who went on strike last week.

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Proposal to Unsnarl Midwest Rail Traffic

A veteran software executive is proposing an $8 billion, a 280-mile rail line around Chicago to solve a traffic logjam, an idea that is stirring opposition even before it has secured financing.

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UnitedHealth Tops Expectations Raises Guidance

UnitedHealth Group raised its guidance for the year as the biggest U.S. health insurer revised its estimates on income taxes and amortization and reported better-than-expected earnings in the first quarter.

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EU Offers Plan to Harmonize Members' Digital Initiatives

The European Union rolled out plans to bridge the bloc’s national initiatives to digitize industry and encourage investment, in a bid to encourage European manufacturers to remain at the technological forefront.

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AB InBev Accepts Asahi Offer for Peroni Grolsch

AB InBev accepted the around $2.9 billion binding offer from Japan’s Asahi for SABMiller’s European premium brands, an important step in the Belgian brewer’s effort to get regulatory approval for the pending acquisition of its biggest rival.

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Apple Gets Thousands of Requests From Law Enforcement

Even as Apple Inc. and the U.S. government disagree over how much the company should help investigators extract data from locked iPhones, law enforcement continues to frequently seek Apple’s help.

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Roche Revenue Lifted by Cancer and Immunology Drugs

Roche Holding reported an increase in first-quarter revenue following strong sales of its cancer and immunology drugs.

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Danone Sales Dented by Stronger Euro

French dairy maker Danone said first-quarter sales dropped 3% as the strengthening euro curbed revenue in emerging markets.

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Publicis Warns of Tough Time Ahead Despite Sales Gains

Publicis first-quarter sales growth beat analysts’ expectations but the advertising company warned that a loss of key clients last year would erode revenue in the coming months.

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UPS Pilots Union Says Sides Near Impasse

The union representing United Parcel Service Inc. pilots on Tuesday said it thinks it is nearing an impasse in contract negotiations with the delivery giant after nearly five years.

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Startup Aims to Revive Failed Drug

A London-based startup is making a risky bet that a surprising genetic variation will enable it to find success in one of the pharmaceutical industry’s biggest flops.

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Indian Drugmakers Target Niche Markets

India’s leading pharmaceutical companies are hoping to squeeze billions in additional sales out of gaps in the U.S. market by developing niche treatments for ailments ignored by industry leaders.

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Amazon in Line to Sell E-Books to New York City's Schools

Amazon will find out this week whether it wins a contract to sell e-books to New York City schools worth as much as $64.5 million over five years.

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Theranos Is Subject of Criminal Probe

Federal prosecutors are investigating whether the blood-testing company misled investors about the state of its technology and operations.

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Target to Raise Minimum Wage to $10 an Hour

Target is raising the minimum wage for employees to $10 an hour, a personal familiar with the matter said, as retailers face growing competition for lower wage workers.

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Sony, Estate of Michael Jackson Complete Sony/ATV Pact

Sony Corp. and the estate of pop star Michael Jackson have reached a definitive agreement for a previously announced deal that will give Sony complete ownership of Sony/ATV Music Publishing LLC.

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IBM Profit Falls as Revenue Declines Again

More than four years into her tenure as a CEO, International Business Machines’ Virginia Rometty is still looking for a turnaround.

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Airbus Venture to Churn Out Satellites

Airbus’s space unit and a partner are expected to announce plans Tuesday for a futuristic Florida factory capable of turning out small, advanced communications satellites at an unparalleled rate.

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Netflix Surprises With More Users but Weak Outlook

Netflix added more subscribers than expected in the first quarter but gave a lackluster outlook for the current period, sending shares lower in after-hours trading.

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Tampa Bay Times, New Yorker Win Pulitzer Prizes

The Tampa Bay Times was awarded two Pulitzer Prizes for investigative and local reporting and the New Yorker took home two awards for feature writing and criticism.

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Legendary Silicon Valley Mentor, 'The Coach' Bill Campbell Dead at 75

Bill Campbell, a legendary mentor to some of Silicon Valley’s most important entrepreneurs and executives including Steve Jobs and Larry Page, died Monday morning at age 75. He had been suffering from cancer.

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Americans Keep Their Cellphones Longer

The success of AT&T and Verizon since 2013 in shifting customers into plans that force them to pay the full price for devices—and separate that cost from monthly service fees—has consumers holding on to their smartphones longer.

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Farmers Reap New Tools From High-Tech Tinkering

North America’s farmers, many of them self-taught, are creating their own technology revolution, building robotic equipment, satellite-navigation networks and mobile apps designed to make their operations more efficient.

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China's Economic Data Paints Mixed Picture, Raises Questions

Soon after reporting year-over-year first-quarter growth that showed signs of improvement, China released a quarter-over-quarter number that raised more questions about the state of the economy—and the reliability of official data.

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Tata Consultancy Services Profit Jumps

Tata Consultancy Services Ltd. on Monday reported a jump in net income for its fiscal fourth quarter.

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Kuroda Sees Yen Rise Threatening Inflation Goal

In interview, Bank of Japan governor says central bank wouldn’t hesitate to take further easing measures if need be to reach 2% inflation target.

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Mexican Officials Seek to Reassure Investors About Pemex

Mexican officials are aiming to assure investors of government support for state oil company Petróleos Mexicanos after the firm received a $4.2 billion financial lifeline to help it through a cash-flow squeeze brought on by falling oil prices.

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PepsiCo Earnings Top Expectations

PepsiCo’s revenue and earnings fell in the first quarter, but profits at the snack and beverage giant beat estimates, helped by lower costs.

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Japan Earthquakes Rattle Toyota's Supply Chain

The vulnerabilities of the tight supply chain at Toyota Motor have again drawn the spotlight after earthquakes in southern Japan forced it along with other Japanese companies to curtail production.

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New Avon Appoints Abbott Labs Executive as New CEO

New Avon named Abbott Labs executive J. Scott White as its new chief executive as of next week, when he will be tasked with reinvigorating the former North American business of Avon Products.

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J.B. Hunt Earnings Rise, Helped by Better Revenue

J.B. Hunt Transport Services Inc. posted a better-than-expected 8.9% rise in profit for its first quarter, helped by a slide in fuel expenses and improved revenue across segments.

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Tencent Targets Corporate Clients With Enterprise WeChat Launch

Tencent, the operator of the WeChat messaging application, has launched a new app for handling office communications and administration in its latest move to attract corporate clients in China.

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