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.