Business

Southwest Airlines Profit Sharing Doubles

Southwest Airlines says will employees divvy up $228 million in profit-sharing this year, nearly twice the payout from last year.


Glencore Buys Caracal for $1.35 Billion

Glencore Xstrata says it is buying oil exploration firm Caracal Energy for about $1.35 billion in cash.


TIAA-CREF Buying Nuveen for $6.25 Billion

Financial services provider TIAA-CREF announced it will buy investment manager Nuveen Investments, bringing TIAA-CREF's total assets under management to about $800 billion.


GlaxoSmithKline Accused of Bribing Doctors in Poland

GlaxoSmithKline is accused of bribing doctors to prescribe medicines in Poland, the BBC is reporting, adding to allegations against the British pharma company for its activities in China and Iraq.


Citigroup's Earnings Edge Up in Q1

Citigroup says its first-quarter earnings rose to $4.1 billion, beating the expectations of Wall Street analysts.


McDonald's CEO Thompson Sees Pay Cut in 2013

McDonald's Corp. President and Chief Executive Don Thompson's total compensation in 2013 fell by more than $4 million, to nearly $9.5 million, in a challenging year for the Oak Brook-based burger giant.


New Miller High Life Ad Campaign to Premier During 'Mad Men'

MillerCoors is unveiling a new ad campaign for its Miller High Life brand aimed at convincing so-called "economy drinkers" how rich they really are.


Tribune Publishing to take on $325MM in Debt in Spinoff

Tribune Publishing, the newspaper division of Chicago-based Tribune Co., will carry at least $325 million of debt when it spins off as a standalone company, according to a filing Friday with the Securities and Exchange Commission.


Authors Guild Asks Court to Reinstate Google Case

The Authors Guild asked a federal appeals court Friday to reinstate its lawsuit contending that Google is violating copyright laws with its massive book digitization project.


Herbalife Stock Drops on Investigation Report

Herbalife stock plunged Friday after a report said the U.S. Department of Justice and the FBI are investigating the company.


Nasdaq Dips Below 4,000 as Tech Rout Continues

Technology stocks plunged for a second day in a row and the Nasdaq continued its losing streak as investors fled Internet and biotechnology companies.


Nasdaq, Tech Stocks Stumble in Sobering Comedown

The stock market's laws of gravity are inflicting pain on technology trailblazers whose values have plummeted from record highs during the past few weeks.


Stocks Down But Not Out in Friday Trading

Following Thursday's big selloff, stocks have fluctuated over the course of the trading on Friday, but selling pressure remains relatively subdued.


Wells Fargo's Earnings Rise 14 Percent

First-quarter profit for Wells Fargo, the biggest U.S. mortgage lender, surged in the latest quarter as the bank continued to trim its losses on soured loans.


GM Stock Drops Below IPO Price

Shares of General Motors fell to a 10-month low Friday as the company's widening recall crisis put an upgrade of its credit rating in doubt.


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