Business

CBS Outdoor Jumps in First Day of Trading

CBS Outdoor's stock surged in its debut on the New York Stock Exchange, gaining 8 percent, to $30.24 in morning trading.


Criminal Charges Likely in PG&E Explosion

Pacific Gas & Electric Co. said Thursday the company will likely face federal criminal charges for its role in a fatal gas pipeline explosion in San Bruno, Calif.


Ally Bank Files for IPO

Ally Financial filed for an initial public offering that could raise as much as $3.06 billion, with the U.S. Treasury planning to sell 95 million shares for $25-$28 per.


Baxter Splitting into 2 Businesses

Baxter International is dividing itself into two separate businesses, one to focus on biopharmaceuticals and the other on other medical products.


BofA to Pay $9.5 Billion to Settle Mortgage Claims

Bank of America agreed Wednesday to pay $9.5 billion to settle claims by government-sponsored mortgage finance giants Fannie Mae and Freddie Mac.


Ronald McDonald Plugs Taco Bell

Taco Bell has launched an ad campaign featuring everyday men who happen to have the same name as the McDonald's mascot known for his bright red hair and yellow jumpsuit.


Report: Dish, DirecTV Talk Merger

Satellite TV companies Dish and DirecTV are reportedly talking merger in the wake of consolidation in the TV cable industry.


Big Banks Barred From Raising Dividends

The Federal Reserve is barring Citigroup and four other big banks from increasing their dividends or buying back their own stock because they need better plans for coping with a severe recession.


Virgin America Posts First Full-year Profit

Virgin America earned its first full-year profit just in time for a possible IPO this year.


Lachlan Murdoch Named VP of News Corp. Empire

Rupert Murdoch said on Wednesday he had promoted his son Lachlan Murdoch to vice-president of his media empire.


U.S. Claims Victory in China 'Rare Earth' Dispute

The World Trade Organization ruled Wednesday that China has violated international trade rules with its export restrictions on minerals that have key industrial and high-tech uses.


Darden Pressed to Hire New CEO

Barington Capital Group is calling on Darden Restaurants, Olive Garden's parent company, to consider looking for a new CEO.


U.S. Stocks Open Higher on Durable Goods Data

The stock market opened higher Wednesday following a strong report on U.S. manufacturing, but "Candy Crush Saga" flopped in its market debut.


Dimon's Heir Apparent Leaves JPMorgan

Michael Cavanagh, who had been considered a possible successor to CEO Jamie Dimon, is joining The Carlyle Group to become co-president and co-chief operating officer.


Coca-Cola on Hot Seat Over Management Pay

An investment fund is taking issue with Coca-Cola's pay proposal for management, saying it shareholders the short end of the stick in light of the company's slowing growth.


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