US Business

US Business

Samsung Heavy Industries Replaces CEO After Warning of Losses

Mon, 11 Dec 2017 19:49:47 EST

Samsung Heavy Industries, the world’s third-largest shipyard by capacity, replaced its chief executive after warning of heavy losses that wiped away nearly a third of its market value.

Saudi Aramco Ramps Up Spending to Over $40 Billion a Year

Tue, 12 Dec 2017 10:38:28 EST

Saudi Arabian Oil Co. unveiled a plan to invest more than $40 billion a year in projects over the next decade, a significant expansion for the world’s largest energy company ahead of its expected public listing.

How North Korea's Global Financing Web Works Around Sanctions

Tue, 12 Dec 2017 10:40:06 EST

Researchers have identified a number of business transactions that they say show North Korea’s international financing web is more sophisticated than what was previously known.

U.S. Producer Prices Rose Robustly in November

Tue, 12 Dec 2017 10:11:20 EST

A gauge of U.S. business prices rose in November, pointing to emerging inflation pressure in the economy.

Comcast No Longer Reviewing Deal for 21st Century Fox Assets

Tue, 12 Dec 2017 08:56:50 EST

Comcast Corp. said it is no longer pursuing a deal to acquire several key media and entertainment assets from 21st Century Fox.

GE Probed Who Knew About Spare Jet for Immelt

Tue, 12 Dec 2017 09:37:03 EST

General Electric recently conducted an internal review into the flying of a spare business jet to accompany former CEO Jeff Immelt, as it seeks to understand an unusual practice that went on for years and surprised investors when they learned of it in October.

Unemployment Back to Precrisis Level in Rich Countries

Tue, 12 Dec 2017 08:36:00 EST

The rate of unemployment across the world’s developed economies finally returned to its pre-crisis level in October, according to the Organization for Economic Cooperation and Development.

Apple Acquires Shazam and Its Song-Recognition App

Tue, 12 Dec 2017 09:31:08 EST

Apple has acquired Shazam Entertainment, giving it one of the popular song-recognition apps at a time the iPhone maker is looking to boost its music-subscription service.

As the Fed Deliberates, Amazon Is Making Its Job More Difficult

Tue, 12 Dec 2017 10:31:05 EST

Web-driven comparison shoppers are keeping a lid on inflation and weakening retailers’ pricing power, complicating the Federal Reserve’s deliberations on how much and how fast to raise interest rates.

Toshiba and Western Digital Resolve Dispute Over Chip Unit

Tue, 12 Dec 2017 10:39:10 EST

Toshiba and Western Digital agreed to settle a dispute over the Japanese company’s planned sale of its memory-chip unit, clearing a major hurdle to the nearly $18 billion deal.

Thai Tycoon Makes Frothy Offer for Stake in Vietnam's Largest Brewer

Tue, 12 Dec 2017 06:37:20 EST

One of Thailand’s richest tycoons is looking to buy a quarter of Vietnam’s largest beer maker in a deal worth at least $2.25 billion, making his company the sole bidder wanting to buy a substantial stake.

Atos Makes $5 Billion Offer to Buy Gemalto

Tue, 12 Dec 2017 06:56:23 EST

French IT services firm Atos is making an unsolicited bid to buy smart-card maker Gemalto—part of a wave of deals in the payment space as rivals join forces to cut costs.

Forties Pipeline System Carrying Brent Crude to Be Shut for Weeks

Tue, 12 Dec 2017 08:46:50 EST

One of Europe’s most important oil pipeline systems will be shut down for a “matter of weeks,” said owner Ineos, sending a jolt into international oil prices as traders contemplated the loss of some North Sea oil supplies.

Mall Operator Westfield Agrees to Takeover Bid Valued at $16 Billion

Tue, 12 Dec 2017 10:58:39 EST

Westfield, the Australian operator of marquee malls from California to New York’s World Trade Center, agreed to a $15.7 billion takeover offer from European shopping-center giant Unibail-Rodamco.

NFL Network Suspends Three Former Players After Sexual-Harassment Allegations

Tue, 12 Dec 2017 10:01:00 EST

The NFL Network has suspended three members of its on-air team—Marshall Faulk, Ike Taylor and Heath Evans—in response to allegations of sexual harassment made in a lawsuit by a former employee.

A Late 2017 Tax Plan Could Spell Trouble for Your 2018 Paycheck

Tue, 12 Dec 2017 09:56:02 EST

The largest payroll group in America is raising a big concern about the new tax plan: There simply isn’t enough time to figure out withholding for 2018.