WSJ.com: US Business

US Business

Glaxo Repatriates Euro-Zone Cash

Tue, 07 Feb 2012 21:29:34 EST

Glaxo has been funneling cash back to the U.K. daily from banks in euro-zone countries as part of its strategy to reduce exposure to risks of a possible breakdown of the European monetary system.

Tussle in China Over iPad Name

Tue, 07 Feb 2012 15:21:10 EST

Proview Technology (Shenzhen) has filed for a temporary restraining order in a Shanghai court to stop Apple from using the iPad name in mainland China.

Payout Doubles for MasterCard

Tue, 07 Feb 2012 21:24:33 EST

The credit-card processor said it will double its quarterly dividend after a strong year in which it grew profit and revenue despite new regulations and mounting economic pressures.

Illumina Rejects Roche Offer

Tue, 07 Feb 2012 20:47:06 EST

Gene-sequencing company Illumina rejected a takeover bid from drug maker Roche, calling the Swiss company's offer inadequate.

Hartford's Profit Slides as Lincoln National Swings to Loss

Tue, 07 Feb 2012 18:56:07 EST

Hartford Financial Services Group's fourth-quarter earnings fell 79% to $127 million, driven by investment losses and the rising cost of workers' compensation claims. Lincoln National swung to a loss as impairment charges weighed on the life-insurance and annuity company's bottom line.

Arcelor Sees Tentative Recovery

Tue, 07 Feb 2012 18:50:17 EST

ArcelorMittal said it expects steel shipments to remain flat in the first half but that mining production will increase 10% as the company expands in the natural-resources sector.

Swatch Triggers Luxury Slide

Tue, 07 Feb 2012 13:07:14 EST

Swatch triggered a slide in luxury stocks across Europe as its upbeat outlook was overshadowed by a dividend and operating profit that fell short of expectations.

Yahoo Shakes Up Board

Tue, 07 Feb 2012 21:31:19 EST

Yahoo said Chairman Roy Bostock and three other directors have volunteered not to stand for re-election to the company's board. The company named two new outside directors.

How JetBlue Cracked Boston

Tue, 07 Feb 2012 20:20:48 EST

JetBlue Airways has become the largest carrier at Boston's Logan International Airport, where it was once refused admission, a turnabout aided by its flexible strategy.

Mexico's CFC Details Mobile Decision

Tue, 07 Feb 2012 21:24:07 EST

Mexico's antitrust agency confirmed that it rejected a proposed joint venture between broadcast and media company Grupo Televisa and mobile-phone operator Grupo Iusacell, but said the decision could change on appeal if the two sides address problems the deal would create in the TV-advertising market.

Apple Asked Standards Body for Patent Rules

Tue, 07 Feb 2012 21:16:40 EST

Apple has asked a telecommunications standards body to set basic principles governing how member companies license their patents, an increasingly contentious topic.

Facebook Challenged on Board Diversity

Tue, 07 Feb 2012 19:44:43 EST

CalSTRS, the big pension fund, challenged Facebook over what it sees as a lack of diversity on the company's board of directors.

Cotton Costs Hurt Levi

Tue, 07 Feb 2012 16:37:18 EST

Cotton costs weighed on Levi Strauss, whose profit fell 49% in the fiscal fourth quarter. Results were also skewed by a year-earlier tax benefit.

Halliburton to Switch to the iPhone

Tue, 07 Feb 2012 17:25:20 EST

Halliburton is trading its BlackBerrys for iPhones, marking an unusually large smartphone migration in the security-conscious corporate world.

BHP Billiton Posts Higher Revenue, Lower Net

Tue, 07 Feb 2012 19:45:57 EST

BHP Billiton reported a 5.5% drop in profit and said it expects volatility in commodity markets to persist given Europe's debt crisis and weakness in manufacturing and construction across key markets.

UBS Will Slice 60% From Bonuses

Tue, 07 Feb 2012 20:09:29 EST

UBS said it will slash its investment-bank bonuses for 2011 by 60%, while the head of the unit will forgo any bonus following a trading scandal in September that cost the bank $2.3 billion.

Times of London Apologizes to Court

Tue, 07 Feb 2012 21:11:41 EST

James Harding, the editor of the Times of London, acknowledged the newspaper misled a British High Court about a 2009 email hacking incident. He sent an apology to the court's judge.

Lagardère Warns of Write-Down

Tue, 07 Feb 2012 15:01:36 EST

Lagardère warned of a substantial impairment charge on its sports division, the latest setback in the media-to-defense conglomerate's plan to dominate the sports marketing.

Investors Squawk at Xstrata's Big Deal

Tue, 07 Feb 2012 21:29:05 EST

Large shareholders of Xstrata came out against the company's plan to merge with Glencore International, highlighting what could be a difficult task selling the giant deal to shareholders and regulators.

Disney Profit Rises 12%

Tue, 07 Feb 2012 19:54:08 EST

Disney's fiscal first-quarter profit climbed as its ESPN network collected higher rates from cable-system operators and theme-park attendance and prices increased.

Wal-Mart's New China Chief Faces Uphill Road

Tue, 07 Feb 2012 19:13:39 EST

Wal-Mart's new China chief likely will give the retailer a fresh start in the country, but the chain still will face uphill challenges to boost profit and gain ground against competitors.

Cirque du Soleil and Sands China End Contract

Tue, 07 Feb 2012 15:20:13 EST

The Macau unit of Las Vegas Sands and Cirque du Soleil said they are putting an early end to a 10-year contract, showing the difficulty companies have faced trying to transform the gambling haven into a tourist destination like Las Vegas.

GM Seeks Deep Cuts at Opel

Tue, 07 Feb 2012 21:30:11 EST

GM is preparing to disclose "horrendous" fourth quarter losses at its European Opel/Vauxhall unit and is demanding deep cuts from labor unions there.

Caesars Prices Offering at $9 a Share

Tue, 07 Feb 2012 21:30:17 EST

Caesars priced 1.81 million shares of its stock at $9 a share to raise around $16.3 million, a small amount but one that opens the door for some investors to cash out.

Cost Cuts Lift McClatchy

Tue, 07 Feb 2012 14:19:20 EST

McClatchy's fourth-quarter earnings nearly tripled as cost cutting at the newspaper publishing company helped to mitigate declining advertising and circulation revenue.

AIG Chairman Heads for Hawker

Tue, 07 Feb 2012 21:21:07 EST

American International Group will review its list of candidates to succeed Chief Executive Robert Benmosche after the company's chairman took a job as CEO of Hawker Beechcraft.

Silicon Valley Recovering Faster Than Nation

Tue, 07 Feb 2012 15:27:38 EST

Even before Facebook Inc. goes public, Silicon Valley is experiencing a surge in jobs and per-capita income, in contrast to the weak economic situation dogging the rest of the nation

Toyota Talks Up Despite Down Quarter

Tue, 07 Feb 2012 19:15:52 EST

Toyota lifted its full-year net income forecast, but expects its earnings to come in at nearly half the level of last year, and below the profitability projections of its smaller Japanese rivals.

Louisiana-Pacific Sees Slow Recovery

Tue, 07 Feb 2012 16:32:55 EST

Louisiana-Pacific's loss widened to $46.6 million. Its CEO said U.S. lumber mills shut by the weak housing market are unlikely to reopen this year, despite early signs of a pickup in construction.

Coke to Spend More on Marketing

Tue, 07 Feb 2012 19:25:34 EST

Coca-Cola plans to plow up to $650 million in new, annual cost savings back into supporting growth for its brands.