THE RE­CAP

The Washington Post Sunday - - TAKING STOCK - FROM NEWS SER­VICES AND STAFF RE­PORTS

Busi­ness

Euro­pean Union an­titrust reg­u­la­tors are in­ves­ti­gat­ing whether chip­maker Qual­comm uses illegal tac­tics to shut out ri­vals, six years af­ter met­ing out a record $1.1 bil­lion fine on In­tel for a sim­i­lar of­fense.

A trustee for Lehman Broth­ers, the bank­rupt in­vest­ment bank, is seek­ing court ap­proval to make another dis­tri­bu­tion, to­tal­ing $1.89 bil­lion, to un­se­cured cred­i­tors in the case. To­tal pay­ments to un­se­cured gen­eral cred­i­tors will add up to about $7.8 bil­lion if the bank­ruptcy court ap­proves this third dis­tri­bu­tion.

Twit­ter’s stock briefly spiked af­ter a bo­gus news story said the mes­sag­ing ser­vice re­ceived a $31 bil­lion buy­out of­fer from Bloomberg. Led by a pledge of $30 mil­lion

from Star­bucks, 17 com­pa­nies are pro­vid­ing jobs and in­tern­ships to 100,000 un­em­ployed youths.

Ama­zon said it sold more on its Prime Day sale— the sub­ject of many snide re­marks on so­cial media— than on any Black Fri­day, with 398 items or­dered a sec­ond.

Ca­ble op­er­a­tor Com­cast said it is rolling out its own ver­sion of an online-only stream­ing video app, on the heels of sim­i­lar of­fer­ings from com­peti­tors such as HBO.

Cap­i­tal Busi­ness

The Amer­i­can Psy­chi­atric

As­so­ci­a­tion will be the first ma­jor em­ployer to move to the Dis­trict’s South­west wa­ter­front when it re­lo­cates its head­quar­ters there from Ar­ling­ton.

Red Owl An­a­lyt­ics, a cy­ber­se­cu­rity firm started two years ago in Bal­ti­more by a for­mer Army in­tel­li­gence of­fi­cer, raised another $17 mil­lion in fund­ing, bring­ing its to­tal to $30 mil­lion.

Deals

EBay spun off PayPal and sold its En­ter­prise busi­ness, which de­vel­ops online shop­ping sites for brick-and-mor­tar re­tail­ers. A part­ner­ship run by Marathon

Petroleum will spend $14.69 bil­lion to buy MarkWest Energy Part­ners, a com­pany that splits nat­u­ral gas into other fu­els. The com­bined com­pany will have a mar­ket cap­i­tal­iza­tion of $21 bil­lion and tie up Marathon’s huge pipeline net­work with the re­finer.

Jar­den, the maker of Sun­beam ap­pli­ances and Coleman out­door gear, is buy­ing dis­pos­able table­ware mak­erWadding­ton Group for about $1.35 bil­lion.

Earn­ings

Google’s profit beat fore­casts for the first time in the past six quar­ters and its stock surged af­ter com­ments by chief fi­nan­cial of­fi­cer Ruth Po­rat on dis­ci­plined spend­ing.

Cit­i­group re­ported its high­est quar­terly profit—$4.85 bil­lion—

since the fi­nan­cial cri­sis as chief ex­ec­u­tive Michael Cor­bat’s restruc­tur­ing and cost-cut­ting ef­forts paid off, while the bank’s le­gal ex­penses plunged. Net­flix’s sec­ond-quar­ter earn­ings fell 63 per­cent, to $26.3 mil­lion, from a year ago, as the video stream­ing ser­vice ab­sorbed the costs of an in­ter­na­tional ex­pan­sion. Net­flix added 3.3 mil­lion sub­scribers glob­ally to reach 65.6 mil­lion cus­tomers. JPMor­gan Chase’s sec­ondquar­ter profit rose 4 per­cent, to $6.3 bil­lion, as the bank made up for lower rev­enue by cut­ting ex­penses, re­duc­ing head count, and through a $330 mil­lion gain as its cor­po­rate tax rate fell.

Wells Fargo re­ported its sec­ond con­sec­u­tive year-over-year drop in quar­terly profit, to $5.36 bil­lion from $5.42 bil­lion.

Econ­omy

Re­tail sales fell 0.3 per­cent in June, the Com­merce Depart­ment said, the weak­est show­ing since Fe­bru­ary’s harsh win­ter weather kept shop­pers in­doors.

New-home con­struc­tion climbed 9.7 per­cent in June to the sec­ond­high­est level since Novem­ber 2007 as builders stepped up work on apart­ment projects.

Washington

The Fed­eral Trade Com­mis­sion

launched an an­titrust re­view of

Ap­ple’s treat­ment of com­pet­ing mu­sic-stream­ing apps that are sold through its iTunes App Store. The Equal Em­ploy­ment

Op­por­tu­nity Com­mis­sion al­leged in a law­suit that UPS de­clined to hire ap­pli­cants and pro­mote em­ploy­ees be­cause their re­li­gious dress prac­tices con­flicted with the com­pany’s uni­form pol­icy.

Honda’s auto-fi­nanc­ing arm agreed to re­pay $24 mil­lion to mi­nor­ity bor­row­ers to set­tle a Jus­tice Depart­ment com­plaint that they were over­charged.

A coali­tion of U.S. book­sell­ers and au­thors asked for the Jus­tice Depart­ment to ini­ti­ate an an­titrust probe of Ama­zon.

Tran­si­tions

Puerto Rico lurched one step closer to de­fault, af­ter its Public Fi­nance Corp. failed to trans­fer funds to pay the prin­ci­pal and in­ter­est on bonds due Aug. 1.

Rap­per 50 Cent filed for Chap­ter 11 bank­ruptcy pro­tec­tion, days af­ter a jury or­dered him to pay $5 mil­lion to a Florida woman who, ac­cord­ing to news re­ports, sued him for post­ing a sex tape online with­out her per­mis­sion.

Nat­u­ral gas over­took coal as the top source of U.S. elec­tric power gen­er­a­tion for the first time, a mile­stone that has been in the mak­ing for years as the price of gas slides and reg­u­la­tions make coal more risky for power gen­er­a­tors.

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