Italy's Recession Pain Stretches to a Year
Italy has been the eurozone's most sluggish economy for more than a decade and it shrank further into recession in the second quarter for a 2.5% yearly decline.
InterContinental to Return $1B From Hotel Sales
The world's biggest hotelier said it will pay a special dividend in the fourth quarter costing $500 million, and also kick off a $500 million share buyback in the same three months.
Central Bank Optimism Helps Lift Wall Street
The markets climbed for the third day in a row, building on three-month highs, as traders responded positively to hints that central banks may be open to the concept of providing more stimulus to buoy the world economy.
Thailand's Kindest Bids for F&N's Stake in Asia Pacific Breweries
Thailand's Kindest Place Groups Ltd. has made an unsolicited 1.03 billion Singapore dollar (US$831 million) offer to buy Fraser & Neave Ltd.'s (F99.SG) direct 7.3% stake in Asia Pacific Breweries Ltd. (A46.SG), setting up a potential battle with Dutch brewer Heineken NV (HEIA.AE) for control of the
Cablevision Posts Flat 2Q Profit But Tops Street
The company reported net income fell to $63.5 million with a revenue of $1.7 billion.
Tenet Healthcare Swings to Second-Quarter Loss on Impairment Charges
Tenet Healthcare Corp. (THC) swung to a second-quarter loss as the company faced heavy restructuring- and impairment-related charges, though patient volumes and revenue improved.
Lloyds Bank Ex-Security Chief Admits $3.75 Million Fraud
A former security chief of Lloyds Banking Group PLC (LYG) Tuesday admitted defrauding her employers of 2.4 million pounds ($3.75 million), prosecutors said.
Munich Re CEO Favors Splitting Banks to Ensure Stability
Munich Re AG (MUV2.XE) Chief Executive Nikolaus von Bomhard on Tuesday reiterated that he is in favor of a banking system that separates investment banks from other banking activities to reduce the risk that an individual bank's problems could threaten overall sector stability.
CVS 2Q Net Climbs 18%, Hikes '12 View
CVS Caremark narrowly beat the Street on Tuesday with an 18% bump in second-quarter profits thanks in part to rival Walgreen’s recent stumbles, prompting the drug store operator to boost its full-year financial targets.