ADM said it is buying food flavors and specialty ingredients company Wild Flavors for 2.2 billion euros ($3 billion) in cash.» Read More
*D.R. Horton shares down 10 pct, PulteGroup down 3 pct. July 24- D.R. Horton Inc, the No.1 U.S. homebuilder, said it had to offer discounts in the third quarter to boost sales in Chicago, a particularly bleak spot in a weak U.S. housing market.
NEW YORK, July 24- Oil futures prices fell on Thursday, as unseasonably weak demand and plentiful supplies of crude and refined products offset strong Chinese factory data that could boost energy demand in the world's No. 2 oil consumer.
NEW YORK— More teen girls are getting a controversial cervical cancer vaccine but the increase isn't much of a bump, the government reported Thursday. Last year's rise follows a couple of years when the girls' HPV vaccination rate was flat and health officials worried that it wouldn't budge. Anne Schuchat of the Centers for Disease Control and Prevention.
CHICAGO— Grain futures were mixed Thursday in early trading on the Chicago Board of Trade. Wheat for Sept delivery was unchanged at $5.3075 a bushel; Sept corn was 4.5 cents lower at $3.58 a bushel; Dec oats were unchanged at $3.2425 a bushel; while Nov soybeans were 8.5 cents higher at $10.85 a bushel.
July 24- D.R. Horton Inc, the No.1 U.S. homebuilder, reported a 23 percent slump in third-quarter profit, hurt by an impairment charge, mainly on properties in the weak Chicago market. D.R. Horton reported a 15 percent drop in home deliveries in both the Midwest and the Southwest in the quarter ended June 30.
The FAA's ban, imposed out of concern for the risk of planes being hit by Hamas rockets, became a hot button topic in both U.S.-Israeli diplomacy and Washington politics. Chicago- based United Airlines is set to resume service to Tel Aviv with a 4:45 p.m. eastern flight from Newark, New Jersey.
*Adj Q2 profit of $1.98 a share compares with $1.95 estimate. American, the largest airline by traffic, which was formed from the late 2013 merger of US Airways and AMR Corp, declared a dividend of 10 cents a share for shareholders of record Aug. 4.
CHICAGO— United Airlines is making money after a slow start to the year. The airline's net income in the second quarter hit $789 million, topping Wall Street expectations and marking a turnaround from the first quarter when United was the only major U.S. carrier to report a loss.
July 24- Caterpillar Inc on Thursday reported higher-than-expected second-quarter earnings but sales fell despite a rebound in the building sector. Caterpillar, the world's largest maker of earth-moving equipment, raised its full-year profit outlook to $5.75 a share, from $5.55 a share.
PEORIA, Ill.— Caterpillar's second-quarter net income rose 4.1 percent even as revenue slipped. Caterpillar— which also makes power systems that include large electrical generators and locomotive engines— earned $999 million, or $1.57 per share, in the quarter.
*China food regulator visits 581 food-related businesses. Shanghai police detained five people on Wednesday, including the head and the quality chief of Shanghai Husi Food, a supplier to foreign fast-food brands including KFC, McDonald's Corp and coffee chain Starbucks Corp over allegations it supplied out-of-date meat.
LOS ANGELES— Staking out a populist stand ahead of the midterm elections, President Barack Obama on Thursday demanded "economic patriotism" from U.S. corporations that use legal means to avoid U.S. taxes through overseas mergers. "I don't care if it's legal," Obama declared.
Fast food chains in China suspended use of products from Shanghai Husi Food Co. after a television station reported last weekend it repackaged and sold meat past its use-by date. I will not try to and defend it or explain it, "said Sheldon Lavin, chairman and chief executive of Aurora, Illinois- based OSI Group, which owns Husi Food.
WEST POINT, New York— President John F. Kennedy is getting his old look back on new collectors' coins.
SHANGHAI, July 24- China's food regulator has visited close to 600 restaurants, businesses and food distributors as it investigates a fast-spreading food safety scare that has dragged in a number of global brands and hit food outlets as far away as Japan.
July 23- Eight months ago in front of a crowd of food industry executives gathered at a fancy Chicago hotel, a top McDonald's Corp executive lauded the boss of meat supplier OSI Group for his dedication to the fast-food giant's "McFamily".
NEW YORK, July 23- A U.S. federal judge on Wednesday dismissed a shareholders' lawsuit claiming JPMorgan Chase& Co board members knew about Bernard Madoff's Ponzi scheme and ignored red flags signaling his massive fraud.
WASHINGTON, July 23- The U.S. ethanol industry pushed back on Wednesday against what they called a "one size fits all" approach to proposed federal rules for shipping fuel by rail, saying regulators must distinguish between the often corn-based biofuel and crude oil.
WASHINGTON, July 23- U.S. regulators and 15 states announced a wave of lawsuits on Wednesday against law firms and mortgage assistance companies they said have scammed borrowers since at least 2011 by falsely promising home loan modifications and other foreclosure relief.
OSI Group, a privately-held company based in Aurora, Illinois, was thrust into the spotlight this weekend when a Chinese TV station reported that one of its Shanghai plants repackaged old beef and chicken and slapped new expiration dates on them.