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.
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.
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.
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.
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.
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.
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.