The New York Stock Exchange halted trading for more than three hours because of problems associated with a software upgrade on its computers.
Microsoft said it will slash up to 7,800 jobs worldwide in its struggling smartphone division and write down a $7.6 billion loss amid a massive restructuring.
Albertsons, the nation’s secondlargest grocery store operator, whose holdings include the Safeway chain, disclosed plans for a public stock offering.
Subway said it had “mutually agreed” to suspend its relationship with longtime spokesman Jared Fogle after investigators raided his Indiana home. The sandwich chain added that it thought the raid was related to the arrest of a former employee of Fogle’s foundation in a child-porn investigation.
A federal judge awarded nearly $230,000 to a Texas woman, finding that Time Warner Cable crossed the line when it harassed her with 153 robo-calls.
Jon S. Corzine and other former MF Global Holdings officials reached a $64.5 million settlement of litigation brought by investors seeking to hold them liable for the brokerage’s 2011 bankruptcy.
Shoppers worldwide will spend less on gadgets in 2015 than they did in 2014, the first drop since 2010, according to a new forecast by the Gartner research firm.
Pharmacy giant CVS Health said it would end its membership in the U.S. Chamber of Commerce because of the group’s stance on tobacco deregulation.
Virginia Gov. Terry McAuliffe (D) warned that the Washington region’s economy— now enjoying a steady recovery— would suffer if Congress allows a second round of federal spending cuts known as sequestration.
Procter& Gamble agreed to sell 43 of its beauty brands to cosmetics and fragrance company Coty in a deal valued at $12.5 billion. Labels such as Covergirl, Clairol Professional and Nice & Easy are to move to Coty’s stable, but P&G will hang onto flagship brands including Pantene shampoo and Olay skin care.
European officials combed through Greece’s last-ditch request for a bailout Friday as they raced to determine over the next 48 hours whether to throw the debt-laden country a financial lifeline before its economy collapses. Greek Prime Minister Alexis Tsipras submitted a painful cash-for-cuts proposal late Thursday to the nation’s European creditors— a critical step toward ending more than five months of brinksmanship that many feared could lead to Greece’s ouster from the 19-member euro zone. The Center for American Progress found in a study that 20 universities received one-fifth, or $6.5 billion, of the total amount of loans that the government gave graduate students in the 2013-14 academic year. Those schools, however, educate only 12 percent of all graduate students.
The FDA pushed back the deadline for chain restaurants, grocery stories and other establishments to abide by new menu-labeling regulations. The businesses will have until Dec. 1, 2016— a year longer than proposed.
CME Group ended open-outcry trading in most of its futures markets in Chicago, concluding a 167-year-old tradition of raucous shouting and frenzied hand gestures that once epitomized global financial markets but succumbed to the efficiency and speed of machines.
Sheryl Sandberg, chief operating officer of Facebook, joined the board of SurveyMonkey, the company that her husband, David Goldberg, ran until his unexpected death in May.