American Express Revenue, Profit Rise
Revenue at American Express was lifted in the latest quarter by higher card-member spending, loans and card fees, though expenses from rewards programs also increased.
BlackRock's Cash Engine Gets Boost, but Its Profit Falls
Investors increased the flood of cash flowing into money-management giant BlackRock in the last quarter. But the firm saw profits fall 6.5% from the comparable quarter a year earlier.
Budweiser Brewer to Sell Australian Unit to Japan's Asahi
Anheuser-Busch InBev agreed to sell its Australian unit for $11.3 billion, including debt, as it pushes forward with an effort to sell assets and pare debt after pulling an initial public offering of its Asia-Pacific businesses.
Schlumberger Elevates Le Peuch to CEO
Schlumberger said Paal Kibsgaard will retire as chairman and chief executive, effective Aug. 1. The company said Olivier Le Peuch, currently chief operating officer, will succeed Kibsgaard as CEO and join the board on that date.
Pepsi Expands in Africa With $1.7 Billion Deal
PepsiCo has agreed to pay $1.7 billion to buy South Africa's Pioneer Foods, as the beverage giant looks to expand and accelerate its growth in sub-Saharan Africa.
State Street Reports 20% Earnings Drop
State Street reported a nearly 20% drop in earnings in the second quarter as income from fees and net interest fell.
Gannett Closes In on Deal to Combine With GateHouse Media
USA Today publisher Gannett is nearing a deal to combine with rival GateHouse Media, a move that would join the nation's two largest newspaper groups by circulation.
The Luxury Car Industry's New-Old Bosses
The German luxury car industry has stalled. Getting the engine running again may require fresher thinking than the insiders appointed to run both BMW and Daimler can supply.
Owl Rock's IPO Boosts Niche Market
Asset manager Owl Rock's business development company, with a valuation of about $6 billion, highlights the growth potential for private debt markets as institutional investors expand to remote corners of Wall Street.
Carl Icahn Takes Steps to Replace Four Occidental Petroleum Directors
The billionaire investor says the energy company's board mismanaged its deal to acquire rival Anadarko Petroleum.