Darden Restaurants said CEO and chairman Clarence Otis is resigning as the company focuses on its Olive Garden chain following the Red Lobster sale.» Read More
NEW YORK, July 29- A federal appeals court has upheld a $67 million jury verdict against TD Bank, part of Canada's Toronto-Dominion Bank, for helping convicted former lawyer Scott Rothstein run a Florida Ponzi scheme that cost investors more than $1 billion.
July 29- JPMorgan Chase& Co, the biggest U.S. bank by assets, is slashing its technology support workforce in corporate and investment banking division following a revenue dip, Bloomberg News reported, citing people familiar with the matter. Offices affected include New York, Tampa, Chicago and Dubai, according to the report.
NEW YORK, July 29- With some of Wall Street's more volatile names set to report in the next couple of days, traders who bet on big swings in shares are hoping to see moves more like Facebook than Netflix. Netflix, along with Gilead Sciences and several other stocks famous for their sharp gyrations, were unusually calm following their latest quarterly reports.
Deceptive practices by Rome Finance Co., more recently doing business as Colfax Capital Corp. and Culver Capital LLC, based in California and Georgia, included failing to accurately disclose charges and interest rates, New York's Attorney General Eric Schneiderman said Tuesday.
EASTON, Pa.— Crayon manufacturer Crayola is building a family attraction in Florida, similar to the one it operates in its home state of Pennsylvania, and more could be on the way around the country if the new one does well. Crayola, a subsidiary of Kansas City, Missouri- based Hallmark Cards Inc., noted Orlando is a top family destination.
WASHINGTON— U.S. home prices rose in May from a year earlier at the weakest pace in 15 months as sales remain modest in the spring buying season. That's down from 10.8 percent in the previous month and the smallest annual gain since February 2013. They accelerated in Charlotte, North Carolina, and were flat in Tampa, Florida.
LONDON, July 29- On the surface at least, much has changed in the London Metal Exchange warehousing business over the past year. The exchange has much more work to do if it wants to rectify a delivery system that has ruptured relations with some of its users and generated a spate of lawsuits in the United States.
NEW YORK, July 29- When Harvey Montijo first moved in with his wife Natalie, he remembers exactly how long it took to get into a tiff about household temperature. "Right from the get-go," remembers the 31- year-old orthopedic resident in Charlotte, North Carolina.
July 29- Spirit Airlines Inc, a low-cost U.S. carrier, on Tuesday reported a higher-than-expected second-quarter profit as it added flights and raised fares. Net income rose 54 percent to $64.8 million, or 88 cents a share, from $42.1 million, or 58 cents a share, a year earlier.
MIRAMAR, Fla.— Spirit Airlines Inc. on Tuesday reported net income that increased by 54 percent in its second quarter, and topped analysts' expectations. The Miramar, Florida- based company said net income increased to $64.8 million, or 88 cents per share, from $42.1 million, or 58 cents per share, in the same quarter a year ago.
TAVARES, Fla.— When Arun and Usha Pancholi were deciding where to spend their retirement years, they wanted a place that combined the culture and camaraderie of life in India with the comforts and conveniences they had grown accustomed to after nearly five decades in Minnesota and Ohio.
NEW YORK— Within minutes, the line at the food truck parked on a busy Queens thoroughfare extended several people deep. New York City's Department of Education put its first truck in service a couple of years ago, and this year it has four— one that goes to Orchard Beach in the Bronx and three that go to a park and two library branches in Queens.
WASHINGTON— More than 35 percent of Americans have debts and unpaid bills that have been reported to collection agencies, according to a study released Tuesday by the Urban Institute.
July 28- Darden Restaurants Inc's food fight with activist investors Barington Capital Group LP and Starboard Value LP entered a new phase on Monday, when the company said Clarence Otis would step down as chairman and chief executive officer.
July 28- Darden Restaurants Inc said on Monday that Clarence Otis would step down as chairman and chief executive officer, buckling under pressure from activist investors Barington Capital Group LP and Starboard Value LP.
July 28 (Reuters)- Darden Restaurants Inc said Clarence Otis would step down as chairman and chief executive officer, buckling under pressure from activist investors Barington Capital Group LP and Starboard Value LP.
NEW YORK— Darden Restaurants CEO and Chairman Clarence Otis is stepping down as the company fights to fix its flagship Olive Garden chain following its contested sale of Red Lobster. The company has been pressured to turn around declining sales at Olive Garden and Red Lobster.
WASHINGTON— In a victory for airlines and their workers' unions, the House rejected consumers' complaints and easily passed legislation Monday letting airline advertising emphasize the base price of tickets, before taxes and fees are added.
RALEIGH, N.C.— Duke Energy Progress has agreed to purchase the generating capacity of ElectriCities in a $1.2 billion deal expected to translate into lower power bills for thousands of eastern North Carolina residents.
July 25- Shares of WellCare Health Plans Inc fell 22 percent on Friday, a day after the healthcare provider reported a surprise loss due to high costs for Medicaid plans in Florida and the company halved its forecast for full-year adjusted profit.