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07/19/2019 | 03:16pm EDT
BlackRock's Cash Engine Gets Boost, but Its Profit Falls 
 

BlackRock's second-quarter profit fell about 7% as the money-management giant faced increased competition and price pressures.

 
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.

 
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.

 
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.

 
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.

 
PepsiCo 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.

 
Oyo Hotel Founder Buys $2 Billion in Shares Back From VC Investors 
 

The 25-year-old founder of Oyo Hotel & Homes, an India hotel brand, has led a $2 billion share buyback in the company, which has transformed the country's budget-hotel industry and gone global.

 
Blackjewel Nets $3 Million Bridge Financing to Avoid Liquidation 
 

Coal-mining company Blackjewel LLC found $3 million in emergency bridge financing to honor payroll obligations that the troubled business fell behind on after filing for bankruptcy protection.

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