Business

FedEx Indicted in Prescription Drug Probe

FedEx has been indicted by a federal grand jury on charges of shipping powerful prescription drugs for illegal online pharmacies, the latest major company targeted by federal law enforcement for playing a part in the proliferation of such drugs on the black market.


AbbVie Buying Shire for $55 Billion

AbbVie inked a nearly $55 billion deal to acquire Irish drugmaker Shire, the companies announced in a joint statement Friday.


Forbes Sells Majority Stake to Investors Group

Forbes said Friday it will sell a majority stake in the family owned magazine publisher to a Hong Kong-based investor group.


IBM Sales Fall for 9th Straight Quarter

IBM reported a ninth straight quarter of declining sales as demand fell for hardware and computer services, underscoring the urgency of its plan to get more revenue from newer businesses like cloud computing.


Honeywell Shows Profit, Raises Outlook

Honeywell International reported an upbeat second-quarter profit and lifted the lower end of its earnings outlook range for 2014.


Hershey Raises Wholesale Chocolate Price

The Hershey Co. announced an average 8 percent increase in wholesale prices this week due to rising prices of raw cocoa, dairy, nuts, packaging, fuel, utilities and transportation.


GE Profit Jumps on Aviation, Oil and Gas

General Electric says its net income rose 13 percent in the second quarter and that orders were especially strong in developing countries.


Jet Crash, Weak Earnings Shake up Stock Market

The downing of a passenger plane flying over eastern Ukraine rattled U.S. markets Thursday, deepening a slide set off by disappointing company earnings and a weak homebuilders report.


Google Q2 Results Are Garbled

Google's second-quarter earnings rose 6 percent as World Cup fever drove more traffic to the Internet company's search engine and YouTube video site while Android devices spurred more sales through its mobile store.


Mattel Profit Plunges on Slow Sales, Merger Costs

Mattel's profit sagged 61 percent in the second quarter, weighed down by slowing sales of its Barbie and Fisher-Price products.


Largest Health Insurer Sees Opportunities in Obamacare

UnitedHealthcare expects to play a much bigger role in the health care overhaul next year as Obamacare begins offering growth opportunities for insurers.


Morgan Stanley Profit Doubles in Q2

Morgan Stanley said Thursday its quarterly profit increased more than twofold on strong performances from investment banking and money management.


Philip Morris Int'l Profits Stubbed Out in Q2

Philip Morris International's second-quarter profit declined 13 percent, stung by foreign exchange rates for the U.S. dollar.


Airbus Beats Boeing at Farnborough Airshow

Airbus beat rival Boeing in the aircraft order stakes at this year's Farnborough International Airshow, garnering nearly twice as many orders and commitments.


Yum Brands Enjoys Tasty Q2 Profit

Yum Brands reported a 19 percent increase in second-quarter profits, boosted by rebounding business at KFC in China where worries about food safety have eased.


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