Saturday, 13 October 2012 US Business US Business

Pharmacy in Outbreak Acted Like Drug Maker

Posted: 12 Oct 2012 05:23 PM PDT

A steroid pain medication made by family-owned Massachusetts company has been linked by regulators to a deadly outbreak of fungal meningitis.

J.P. Morgan, Wells Fargo: Housing on Mend

Posted: 12 Oct 2012 06:31 PM PDT

J.P. Morgan Chase and Wells Fargo both reported solid gains in profit and pointed to a recovery in the housing market. Low interest rates, however, continue to pose problems.

Softbank Risks Debt Rerun with Sprint Deal

Posted: 12 Oct 2012 08:02 PM PDT

Softbank's potential acquisition of Sprint Nextel would reload the Japanese mobile operator with heavy debt.

Santander Ends Pact With RBS

Posted: 12 Oct 2012 07:56 PM PDT

Banco Santander abruptly pulled out of an agreement to buy a collection of U.K. branches from Royal Bank of Scotland, a surprising development that underscores challenges that both of the big European banks face.

BBC Rocked by Sex-Abuse Accusations

Posted: 12 Oct 2012 06:38 PM PDT

The BBC is facing one of the biggest scandals to rock the network in years: allegations that one of its TV personalities, now dead, had molested numerous girls, at times on BBC premises.

Cloud-Computing Firm Workday's IPO Soars

Posted: 12 Oct 2012 05:15 PM PDT

Workday's shares surged 74% in their public-trading debut, underscoring investor interest in cloud computing.

Cablevision Explores Sale of Bresnan

Posted: 12 Oct 2012 03:57 PM PDT

Cablevision Systems is exploring a potential sale of Bresnan Broadband Holdings, a cable operator it bought for $1.4 billion less than two years ago.

Cities Clash in Battle to Land Conventions

Posted: 12 Oct 2012 09:31 PM PDT

Across the country, cities are duking it out like never before over conventions, vying to host everyone from the Barbershop Harmony Society to the American Academy of Cosmetic Dentistry.

Reserve Primary's Bruce Bent Testifies of Deal Hope

Posted: 12 Oct 2012 05:53 PM PDT

Eight months before the collapse of the $62 billion Reserve Primary money-market mutual fund in 2008, its owners were exploring a sale, co-manager Bruce Bent Sr. said during his civil trial in federal court. He says he hoped a deal could be struck to avoid "breaking the buck" in the fund.

GM, Peugeot Work on Collaboration

Posted: 12 Oct 2012 12:55 PM PDT

General Motors and Peugeot are progressing in their efforts to identify specific areas of the auto business where they can deepen their existing alliance.

Ecolab to Buy Chemical Firm Champion Technologies

Posted: 12 Oct 2012 02:33 PM PDT

Ecolab has agreed to buy chemical maker Champion Technologies in a $2.21 billion deal that will move the cleaning-products company deeper into the chemical market for the energy industry.

Paris Looks Into Hermes Accusations against LVMH

Posted: 12 Oct 2012 01:06 PM PDT

French prosecutors opened a preliminary investigation into accusations made by luxury goods company Hermès that larger rival LVMH used insider-trading tactics to accumulate a stake in Hermès.

U.K. Blames Berlin For Merger's Failure

Posted: 12 Oct 2012 10:15 AM PDT

Political tension from the failed merger between EADS and BAE Systems intensified when the U.K.'s chancellor of the exchequer said Germany had vetoed the deal and he was disappointed in the country's attitude.

Bakrie Confident in Its Offer for Bumi Coal Assets

Posted: 12 Oct 2012 10:38 AM PDT

Indonesia's Bakrie Group is confident investors in coal company Bumi will accept its more-than-$1 billion offer to buy back Bumi's coal mines.

South Africa Hit By Second Ratings Cut

Posted: 12 Oct 2012 08:32 PM PDT

A second credit-ratings firm on Friday downgraded South Africa's debt following labor turmoil that has buffeted its economy, even as a debilitating strike ended when 40,000 truckers accepted a package of steep pay increases.

Kingfisher Cancels Flights Until Oct. 20

Posted: 12 Oct 2012 10:54 AM PDT

Kingfisher Airlines said it has canceled its flights until Oct. 20 as pilots, engineers and technicians continued their strike.

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