×

Wires

  • ABC television network, owned by Walt Disney Co, has settled its closely watched defamation lawsuit with Beef Products Inc over news reports on a processed beef product that critics dubbed "pink slime," both companies said on Wednesday. Terms of the settlement, which also covered the Beef Products Inc claims against ABC reporter Jim Avila, were not disclosed.

  • NEW YORK, June 28- Citigroup Inc has been granted permission to return nearly $19 billion of capital to shareholders after passing a tough regulatory test, a long-awaited victory for investors and Chief Executive Officer Michael Corbat. Citigroup, the fourth-largest U.S. bank by assets, on Wednesday said it plans to repurchase up to $15.6 billion of common...

  • WASHINGTON, June 28- The top U.S. Senate Republican struggled on Wednesday to salvage major healthcare legislation sought by President Donald Trump, meeting privately with a parade of skeptical senators as critics within the party urged substantial changes. Acknowledging demands from fellow Republicans for increased input into retooling the...

  • June 28- Warren Buffett's Berkshire Hathaway Inc may be on the verge of becoming Bank of America Corp's largest shareholder, after the bank raised its dividend in the wake of a positive assessment of its ability to handle market stresses. Bank of America on Wednesday boosted its annual dividend 60 percent to 48 cents per share from 30 cents, beginning in the third...

  • June 28- Puerto Rico's financial oversight board said on Wednesday it was still in debt restructuring talks with creditors of the island's power utility, PREPA, a day after rejecting a proposed deal to restructure $9 billion of the utility's bonds. Puerto Rico is facing a historic economic crisis, marked by $70 billion of debt, a 45 percent poverty rate and a...

  • LITTLE ROCK, Ark.— Hundreds of inventors have flocked to Walmart's headquarters in Bentonville to find out if the country needs a few more secret sauces, prettier mouse pads or "instant hair gel" packets for the on-the-go clubber. The 500 businesses selected to take part in Walmart's fourth annual "Open Call" Wednesday have already been offered spots on the...

  • COLUMBUS, Ohio _ Worthington Industries Inc. on Wednesday reported fiscal fourth-quarter earnings of $56.5 million. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share. This story was generated by Automated Insights using data from Zacks Investment Research.

  • June 28- Sycamore Partners said on Wednesday it would acquire U.S. office supplies chain Staples Inc for $6.9 billion, a rare bet by a private equity firm this year in the U.S. retail sector, which has been roiled by the popularity of internet shopping. Buyout firms have largely refrained from attempting leveraged buyouts of U.S. retailers in the last two years, amid...

  • --Plans to raise quarterly dividend to $0.56/ share from $0.50/ share, effective Q3. --Increases quarterly dividend to $0.25 per share from $0.20, effective Q3. --Plans to increase dividend to $0.39/ share from $0.38/ share, effective Q3.

  • --Plans to raise quarterly dividend to $0.56/ share from $0.50/ share, effective Q3. --Increases quarterly dividend to $0.25 per share from $0.20, effective Q3. --Plans to increase dividend to $0.39/ share from $0.38/ share, effective Q3.

  • WASHINGTON/ NEW YORK, June 28- One day before President Donald Trump's temporary ban on all refugees and travelers from six predominantly Muslim countries is scheduled to take effect, there is still widespread uncertainty about how the administration will implement it. It exempted travelers and refugees who have a "bona fide relationship" with a person or...

  • NEW YORK— A federal prosecutor has told jurors in opening statements at the securities fraud trial of a former pharmaceutical company CEO that he built a bogus hedge fund empire on "lies upon lies." Attorney Karthik Srinivasan accused Martin Shkreli on Wednesday of losing investors' money through bad trades, then looting a drug company for $10 million in a secret...

  • NEW YORK— Private equity firm Sycamore is buying office supplies chain Staples for $6.9 billion. The companies said Wednesday that shareholders of Framingham, Massachusetts- based Staples will get $10.25 per share. Reports back in April said the chain was in deal talks, less than a year after it dropped a $6.3 billion merger with rival Office Depot because of...

  • General Mills Inc., up 90 cents to $56.42. Spectranetics Corp., up $7.95 to $38.35. Cal-Amp Corp., up $1.19 to $20.44.

  • June 28- The New York Times said Wednesday it will start charging users for unlimited access to its NYT Cooking site, which includes recipes from both current and former columnists, such as Melissa Clark and Mark Bittman. The subscription will cost $5 per month. But with the introduction of the subscription, non-paying users will not be able to access a majority of...

  • NEW YORK, June 28- Citigroup Inc has been granted permission to return nearly $19 billion of capital to shareholders after passing a tough regulatory test, a long-awaited victory for investors and Chief Executive Officer Michael Corbat. Citigroup, the fourth-largest U.S. bank by assets, on Wednesday said it plans to repurchase up to $15.6 billion of common...

  • STAPLES ENTERS INTO DEFINITIVE AGREEMENT TO BE ACQUIRED BY SYCAMORE PARTNERS FOR $10.25 PER SHARE IN CASH, OR APPROXIMATELY $6.9 BILLION.

  • WASHINGTON, June 28- A federal judge in California on Wednesday allowed some claims to proceed by investors who sued Volkswagen AG over its diesel emissions scandal, but agreed to the German automaker's request to dismiss parts of the lawsuit. District Judge Charles Breyer said in an 18- page order he was allowing claims that VW and then-Chief Executive...

  • June 28- Bombardier Inc may have to wait to find out if its CSeries commercial jets will be hit by punishing U.S. duties after Boeing requested the U.S. Department of Commerce to postpone its preliminary ruling on its petition until Sept. 25. In April, Boeing had asked the Commerce Department to investigate alleged subsidies and unfair pricing for Bombardier's...

  • RICHMOND, British Columbia _ Bioasis Technologies Inc. on Wednesday reported a loss of $321,000 in its fiscal fourth quarter. On a per-share basis, the Richmond, British Columbia- based company said it had a loss of 1 cent. For the year, the company reported that its loss widened to $2.3 million, or 5 cents per share.