Business

IMF Sees Global Slowdown Through Next Year

The economic counselor of the International Monetary Fund presented an update of the World Economic Outlook that reflected the winter slump in U.S. growth.


Amgen Follows Huge Profit With Huge Layoff

Amgen said Tuesday it will lay off up 2,900 workers, mostly in the U.S., even as it reported second-quarter results that trounced Wall Street expectations.


McDonald's Is a 'Joint Employer,' NLRB Says

McDonald's Corp. says it has been notified by a labor regulator that it can be named a "joint employer" for workers in its franchisee-owned restaurants.


BP Warns That Russia Sanctions Could Cut Into Its Profits

Energy company BP says further international sanctions on Russia could hurt its profits because of its stake in the country's oil giant, Rosneft.


Merck Profit More Than Doubles in Q2

A one-time gain and a tax benefit helped Merck & Co. more than double its second-quarter profit, improve its profit forecast and top analysts' expectations.


Pfizer's Q2 Profit Sinks 79 Percent

Pfizer's second-quarter earnings plunged 79 percent from last year, but the latest results still edged analyst expectations.


Corning Matches Expectations With Huge Loss

Corning on Tuesday reported net income that declined by 74 percent in its second quarter, matching analysts' expectations.


Reynolds American Gets Rise on Higher Prices

Reynolds American said Tuesday its profit rose by 6.7 percent in its second quarter as higher cigarette and smokeless tobacco prices helped to offset a decline in cigarettes sold.


UPS Takes Loss to Beef Up Service

UPS is sacrificing some short-term profits to avoid a repeat of its failure last Christmas to deliver all packages on time.


Smith & Wesson to Pay $2 Million in Bribe Case

Smith & Wesson has agreed to pay $2 million to settle civil charges of bribing government officials in Pakistan, Indonesia and other countries to win business.


Herbalife Profit Wilts in Q2

Herbalife on Monday reported profit that decreased by 17 percent in its second quarter, falling short of analysts' expectations.


Darden's Otis Stepping Down Amid Olive Garden Woes

Darden Restaurants CEO and Chairman Clarence Otis is stepping down as the company fights to fix its flagship Olive Garden chain following its contested sale of Red Lobster.


U.S. Companies increasingly Fish for Growth Overseas

Major U.S. companies are starting to reap their most rapid growth in fertile lands of opportunity far from home.


Tyson Selling Latin American Poultry Operations

Tyson Foods plans to sell its poultry businesses in Mexico and Brazil for $575 million in cash to help pay debt from its recently announced acquisition of Hillshire Brands.


Virgin American Files IPO Flight Plan

Virgin America had been unprofitable until last year, when it had earnings of $10.1 million.


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