Business

CSX Optimistic for Long Haul

CSX Corp. is optimistic about long-term results, although the railroad's third-quarter profit will likely be flat.


Rupert Murdoch Rebuffed in Time Warner Bid

Rupert Murdoch's Twenty-First Century Fox said Time Warner has rejected an offer it made last month to combine the two media and entertainment giants.


Johnson & Johnson Beats Expectations

Health-care conglomerate Johnson & Johnson reported better-than-expected second-quarter earnings on the back of strong revenue figures on Tuesday.


JPMorgan Earnings Drop in Q2

JPMorgan Chase, the nation's largest bank by assets, said Tuesday its second-quarter earnings fell 9 percent as revenue at its investment banking and mortgage businesses dropped.


Airlines Gear Up for Trans-Atlantic Price War

Europe's big airlines are being hit hard by the rapid expansion of Arabian Gulf rivals in the U.S. amid a looming trans-Atlantic price war.


Reynolds to Buy Lorillard for $25 Billion

The deal could spur a wave of consolidation in the tobacco business, shrink factories and workforces, and push prices for cigarettes higher even as smokers buy fewer of them.


Goldman Sachs Posts Higher Profit, Revenue

Goldman Sachs on Tuesday announced a quarterly profit rise of 5 percent, with revenue rising much higher than analysts had expected.


HP Interim Chair Whitworth Steps Down

Hewlett-Packard's interim chairman Ralph Whitworth has resigned from the company's board to concentrate on personal health issues.


CVS Caremark to Acquire Navarro Pharmacy

Navarro Discount Pharmacy agrees to sell its 33 stores to the nation's second largest drugstore chain.


U.S. Consumer Bureau Sues Debt Collector

The Consumer Financial Protection Bureau has sued a major debt collection law firm, alleging that it produces shoddy, mass-produced credit-card collection lawsuits.


Flying J Truck-Stop Chain to Pay $92 Million Fine

Authorities say the truck-stop company owned by Cleveland Browns owner Jimmy Haslam and Tennessee Gov. Bill Haslam has agreed to pay $92 million in fines for cheating customers out of promised rebates and discounts.


U.S. Companies 'Move' Overseas to Avoid Taxes

U.S. companies increasingly seek to trim their taxes by combining operations with foreign businesses in a trend that could cost the country billions of dollars in lost revenue.


Kindred Ups Offer for Gentiva Shares

Kindred Healthcare is offering more cash for shares of Gentiva Health Services, but it now aims to acquire just a slice of the home health and hospice care provider instead of the whole company.


Crumbs Bake Shop Files for Chapter 11

An investor group that includes investor and reality TV star Marcus Lemonis said it plans to acquire Crumbs Bake Shop out of bankruptcy.


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.


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