Business News

  • Tug of War for Alstom Unit Intensifies
    Siemens and Mitsubishi Heavy Industries sweetened their joint proposal after GE revised its own bid for the firm’s energy business.
  • Shire Rejects AbbVie Approach
    U.K.-listed drug maker Shire has rejected a $46.35 billion takeover bid from U.S. rival AbbVie.
  • Slow to Respond, Tesco Now Pays the Price
    Since the financial crisis, British consumers have changed the way they shop, but Tesco hasn’t changed the way it sells. Some critics blame the CEO for not moving fast enough to address discounters or to deal with failed overseas efforts.
  • Apple Preps Smartwatch Designs
    Apple is planning multiple versions of its smartwatch, likely to be launched in the fall, as the company tries to counter wearable devices from rivals.
  • Toys 'R' Us Fires Finance Chief
    Toys ‘R’ Us said it fired its chief financial officer, F. Clay Creasey Jr., and replaced him with former AutoNation executive Michael J. Short.
  • Publicis CEO Won't Extend Mandate
    Publicis Chief Executive and Chairman Maurice Lévy said he won’t seek to extend his CEO mandate but indicated that he could stay on in another function at the advertising company to guarantee a smooth succession.
  • WebMD Sues Everyday Health
    WebMD Health said it is suing Everyday Health Inc. for trademark infringement, false advertising and unfair competition.
  • Cnooc, Eni Sign Production Deal
    China National Offshore Oil Corp.—the country’s largest offshore oil producer by output—has signed a production-sharing contract with Italy’s Eni SpA for the exploration of one block in the South China Sea.
  • Owens Corning Lowers Outlook
    Owens Corning lowered its earnings outlook for the year Friday as its roofing business continues to see weaker volumes.

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