Business

ConAgra Buys China Spuds Processor

ConAgra Foods said Monday it bought Chinese potato processor TaiMei for $93 million to help it sell more frozen potato products in Asia.


Banco Espirito Stock Falls Despite New CEO

A new CEO has been appointed for Portugal's biggest bank, but Banco Espirito Santo's share price is still falling sharply as investors fret over its financial health.


Citigroup to Pay $7 Billion to Settle Subprime Probe

Citigroup said Monday it will pay about $7 billion to settle a federal investigation into risky subprime mortgages of the sort that helped spark the Great Recession.


Citi Income Drops on Mortgage Charge

Citigroup said Monday that its net income dropped in the second quarter after it took a $3.8 billion charge to settle claims over its risky subprime mortgage business.


U.S.' No. 2, No. 3 Tobacco Cos in Merger Talks

The United States' second- and third-largest tobacco companies, Reynolds American and Lorillard, confirmed that they are negotiating a merger deal that would create a giant with a $56 billion market value.


Pot's Legal in WA -- But You Should Probably Ask Your Boss

Employers still have discretion over setting guidelines for worker drug use. For certain professions, such as truck drivers who rely on federally issued commercial driver's licenses, marijuana is generally prohibited across the board. But for most industries in Washington, policies are set by the employer, and having traces of marijuana in your system can still be grounds for firing.


Drive-In Movie Theaters Use Creativity to Afford Digital Switch

Many in the movie industry feared the need to convert to digital could be the death knell for drive-ins, but drive-in operators are finding creative ways to afford the switch.


Reynolds, Lorillard in Merger Talks

Cigarette makers Reynolds American and Lorillard on Friday said they are discussing a possible merger that would combine two of the nation's oldest and biggest tobacco companies.


Wells Fargo Profit Up, Revenue Down

Wells Fargo said its second-quarter profit edged up 3 percent, helped by higher deposit balances and a drop in the amount of loans that went bad, but revenue slipped.


Ace Cash to Pay $10 Million for Collections Tactics

Ace Cash Express has agreed to pay $10 million in a settlement with federal regulators who accused the payday lender of illegally harassing borrowers to collect debts and get them to take out additional loans.


Costco June Sales Top Street View

Costco's sales at stores open at least a year rose 6 percent in June, beating Wall Street's estimates of 5.3 perecent.


Boeing Raises Forecast on Plane Demand

Boeing raised its long-term forecast for new airplane demand by more than 4 percent, and it's smaller aircraft and orders from the Asia-Pacific region that are driving growth.


Murray Energy Claims Rival Pulled Dirty Trick

Murray Energy alleges in a lawsuit that Williamson Energy used proprietary details to buy up land in southern Illinois to thwart Murray's expansion plans.


American Apparel to Land Some Financing

American Apparel has reached a preliminary deal with investment firm Standard General to receive a $25 million investment to bolster the clothing chain's finances, a source said.


Libyan Production Pushes Brent Crude Below $109

The price of Brent crude is on track to drop for an eighth session in what would be its longest losing streak in over four years.


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