Business News

  • Red Lobster Fetches $2.1 Billion
    Darden Restaurants agreed to sell its struggling Red Lobster business to Golden Gate Capital for $2.1 billion in cash, despite long-running criticism of the move from several investors.
  • DOT Sets Announcement on GM Ignition Switch Probe
    The U.S. Transportation Department said it would have a “major announcement” Friday about its investigation of General Motors’ delays in recalling vehicles equipped with faulty ignition switches.
  • Rackspace Hires Morgan Stanley
    Rackspace’s board has hired Morgan Stanley to help it evaluate expressions of interest from multiple parties and to explore other options to advance the Web infrastructure provider’s strategy.
  • Total Boss to Attend Russia Conference
    Oil major Total’s chief executive confirmed that he plans to attend a conference later this month in Russia, which other Western executives have been skipping because of tensions over Ukraine.
  • Chesapeake to Spin Off Oilfield Services
    Chesapeake Energy said it will proceed with a spinoff of its oil-field services operations to shareholders as it also plans other asset sales.
  • Abbott to Buy Latin American Company
    Abbott Labs agreed to buy CFR Pharmaceuticals for $2.9 billion, significantly expanding its presence in Latin America.
  • EU Car Sales Growth Slows
    Europe’s car markets continued to recover in April, but sales grew at their slowest rate in five months, casting doubt on the strength of the rebound in demand in the coming months.
  • Western Oil's Tangled Ties in Russia
    BP, Total and other oil companies are having a tougher time than other multinationals navigating Western sanctions on Russia.
  • China Southern Airlines to Buy 80 Aircraft From Airbus
    China Southern Airlines signed an agreement to buy a total of 80 passenger aircraft from Airbus, as Chinese carriers go on a buying spree with the European plane maker and rival Boeing.

Digest powered by RSS Digest