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US Business

TPG Sells Ping An Stake for $1.16 Billion

Fri, 03 Sep 2010 04:10:50 EDT

TPG sold its remaining stake in Ping An Insurance for $1.16 billion in the latest example of how the U.S. company is reaping profits from its investments in Asia.

Cuomo Looks at Schools' Role in Student Credit Cards

Fri, 03 Sep 2010 17:43:14 EDT

New York State Attorney General Andrew Cuomo announced a statewide investigation of credit-card companies marketing to college students through schools.

Campbell's Soup Sales Slip

Fri, 03 Sep 2010 17:04:06 EDT

Campbell Soup quarterly profit rose 64% as the company cut costs, but its soup sales continued to decline despite efforts to attract consumers with more promotions.

Texas Probes Google's Search Engine

Fri, 03 Sep 2010 19:18:49 EDT

Google said the Texas attorney general's office is conducting an antitrust review of the Web giant's core search-engine business, another sign of growing government scrutiny of the company.

H-P Outguns Dell in Takeover Duel

Fri, 03 Sep 2010 10:21:54 EDT

It wasn't the biggest bidding war the tech world has ever seen, but the battle between titans H-P and Dell for a humble maker of data-storage systems certainly qualified as one of the wildest ever.

General Tobacco to Shut Down

Fri, 03 Sep 2010 11:52:22 EDT

General Tobacco, a maker of low-priced cigarettes that became the sixth-largest U.S. tobacco company, plans to shut down after failing to make payments it owed to states under a massive industry settlement.

Toshiba to Launch New Tablet

Fri, 03 Sep 2010 14:12:39 EDT

Toshiba said that it will release by year-end a tablet computer that runs on Google's Android operating system as the company aims to compete with Apple's iPad.

Goldman to Shut Principal Strategies Unit

Fri, 03 Sep 2010 17:25:47 EDT

Goldman Sachs has decided to close its principal-strategies unit, which does its proprietary trading, in the wake of financial-overhaul regulation passed by Congress.

BP Provides Lessons Learned From Spill

Fri, 03 Sep 2010 12:42:58 EDT

BP disclosed various lessons and capabilities built from trouble-shooting the big oil spill in the U.S. Gulf of Mexico.

UPS Cargo Plane Crashes Near Dubai

Fri, 03 Sep 2010 18:55:46 EDT

A UPS cargo plane crashed Friday evening after takeoff near Dubai, killing two pilots in the package delivery giant's first fatal aircraft accident.

Bernanke Defends Record On Lehman

Thu, 02 Sep 2010 23:13:16 EDT

Fed chief Ben Bernanke told a panel that he had no options to prevent Lehman Brothers' failure in September 2008 even though he knew its downfall would be "catastrophic."

BP Spill Costs Reach $8 Billion

Fri, 03 Sep 2010 11:12:13 EDT

BP said it has spent around $8 billion in response to the massive oil spill in the Gulf of Mexico and expects to resume its relief-well drilling shortly.

Roche Launches Cost-Cutting Plan

Fri, 03 Sep 2010 19:21:19 EDT

Faced with austerity programs and health-care reforms around the world, Roche launched a cost-cutting plan that may include job reductions and a revamp of its research-and-development business

T-Mobile USA in Talks to Carry Huawei Phone

Fri, 03 Sep 2010 17:34:57 EDT

T-Mobile USA is in talks to distribute Huawei Technologies's new Google-powered smartphone this holiday season. The Ideos phone could be priced under $100 in the U.S.

BK's Strategy: Play Catch-Up

Thu, 02 Sep 2010 23:48:53 EDT

Burger King Holdings agreed to a $3.3 billion leveraged buyout by private-equity firm 3G Capital Management that proposes to reinvigorate the struggling hamburger chain by accelerating its international expansion.

Petrobras Seeks $65 Billion From Sale

Fri, 03 Sep 2010 17:10:26 EDT

Brazil's state-run energy company Petrobras launched the world's largest-ever sale of shares to finance a $224 billion, five-year investment program.

Goldcorp to Buy Andean

Fri, 03 Sep 2010 15:12:00 EDT

Canadian miner Goldcorp said it had reached a deal to buy Andean Resources in a deal that values the gold company at around $3.42 billion.

Pechter Bids for Value Line Funds

Fri, 03 Sep 2010 14:01:51 EDT

Richard Pechter, a director of Finra and NYSE's regulatory arm, said this week that he made an offer for Value Line's troubled mutual-fund business.