WSJ.com: US Business

Two More Banks Fail

Sat, 26 Jul 2008 01:02:00 EDT

Federal regulators shut down two national banks, First National Bank of Nevada and First Heritage Bank, but the FDIC did protect all depositors by selling the accounts. So far, seven banks have failed this year.

FCC Approves XM-Sirius Merger

Sat, 26 Jul 2008 00:16:00 EDT

The FCC formally approved the merger of Sirius and XM, the nation's only two satellite radio operators, ending a months-long drama closely watched by Washington and Wall Street. The companies agreed to pay a combined $19.7 million in fines to settle FCC rule violations and to secure the tiebreaking vote.

Chrysler Halts Auto Leases

Fri, 25 Jul 2008 21:16:00 EDT

Chrysler said it will no longer offer auto leases through its lending arm, a move that could further crimp the car maker's sales. The move by Chrysler Financial comes as the finance unit has been scrambling to borrow fresh money amid tight credit markets.

NFL, NBC Plan Football Online

Fri, 25 Jul 2008 23:31:00 EDT

The NFL and NBC Sports plan to announce a deal Monday to stream 17 regular-season games on the Web. The move could potentially give the NFL another bargaining chip in broadcast negotiations.

A Star in Tulsa, Kivisto Is Now on Bench

Sat, 26 Jul 2008 00:24:00 EDT

SemGroup used risky, complex trading techniques, a person familiar with its trading and court documents suggested. The oil-marketing company's collapse is drawing attention to founder Tom Kivisto, who just days ago was a revered figure in Tulsa, Okla.'s thriving business scene.

Bratz Trial Hits Snag

Fri, 25 Jul 2008 20:15:00 EDT

A judge dismissed a juror from the intellectual-property trial involving Mattel and MGA Entertainment's popular Bratz doll for making an ethnic comment about MGA's CEO. The company has asked for a mistrial.

Dockworker Slowdowns Unnerve Shippers

Sat, 26 Jul 2008 00:22:00 EDT

Shippers are growing increasingly nervous as West Coast dockworkers expand their slowdowns in the midst of negotiations on a new labor contract.

Bayer Drug Clears Panel

Fri, 25 Jul 2008 17:30:00 EDT

Germany's Bayer said it's a step closer to approval for potential blockbuster anticoagulant Xarelto after a positive opinion from EU regulators.

Judges Stiffen Foreclosure Standards

Fri, 25 Jul 2008 21:04:00 EDT

Judges in several states have found flaws in documents filed by mortgage firms that borrowers facing foreclosure might be able to exploit. But the extent to which the judicial process can make a difference is limited and uneven.

Rolling Stones Depart From EMI

Fri, 25 Jul 2008 19:21:00 EDT

The Rolling Stones confirmed their long-anticipated defection from record label EMI to Universal Music Group, the latest in a string of departures by major acts from the struggling No. 4 music company.

Auto-Parts Makers' Roads Diverge

Fri, 25 Jul 2008 20:46:00 EDT

American Axle, which depends on sales from GM, posted a loss while Federal-Mogul, which generates 60% of its business outside the U.S., saw net income rise. The earnings illustrate how critical it is for U.S. auto-parts makers to find customers besides domestic auto makers.

H-P, EDS Settle Lawsuit

Fri, 25 Jul 2008 19:23:00 EDT

Hewlett-Packard and Electronic Data Systems agreed to settle shareholder litigation as part of efforts to complete H-P's proposed $13.25 billion purchase of the technology services giant.

GE Squeezes Into Four Segments

Sat, 26 Jul 2008 00:21:00 EDT

General Electric will realign its operations into four segments, down from six, as it sheds businesses like appliances and lighting in an attempt to reenergize growth.

Durable-Goods Orders Rise

Fri, 25 Jul 2008 20:52:00 EDT

Durable-goods orders rose 0.8% in June, while new-home sales fell a less-than-expected 0.6% from May.

FCC Nears Finding Against Comcast

Fri, 25 Jul 2008 22:06:00 EDT

The FCC is on the verge of finding Comcast violated federal policy by hampering the ability of customers to share large files online.

Amgen Bone Drug Reduces Spine, Hip Fractures

Fri, 25 Jul 2008 23:21:00 EDT

Amgen got an injection of upbeat news as its new bone-building drug was found to reduce the risk of spinal and hip fractures in a study of 7,800 women.

Airlines Warn of Phony Emails

Fri, 25 Jul 2008 17:11:00 EDT

Northwest Airlines, Midwest Airlines and Delta separately warned customers that phony email ticket confirmations are being sent using the airlines' names. The messages may contain computer viruses.

Legg Takes Loss; T. Rowe Net Flat

Fri, 25 Jul 2008 10:38:00 EDT

Asset managers experienced a tough quarter, as Legg Mason swung to a loss amid charges for shoring up some SIV-exposed funds and T. Rowe Price Group's net was flat as investor sentiment deteriorated amid volatile markets.

Journal Register Delays Loan Payments

Sat, 26 Jul 2008 00:16:00 EDT

Journal Register hired a chief restructuring officer and reached a deal with its banks to delay interest payments on its loans. The moves highlight the troubles of heavily indebted newspaper chains.

OSHA Fines Imperial Sugar $8.8 Million

Sat, 26 Jul 2008 00:21:00 EDT

OSHA fined Imperial Sugar $8.8 million for workplace-safety violations at two plants after a deadly February explosion at a Georgia refinery.

AOL Closes Some Services

Fri, 25 Jul 2008 16:33:00 EDT

AOL is shutting three data-storage services, including one of the Internet's earliest photo-sharing sites, as it seeks to cut costs and focus resources on its advertising opportunities.

FDA: Drug Effective in Rheumatoid Arthritis

Fri, 25 Jul 2008 12:46:00 EDT

Roche's Actemra appears effective at treating rheumatoid arthritis, a disease that can destroy joints and causes chronic pain for patients, the U.S. Food and Drug Administration said.

Triarc Names Wendy's Management Team

Fri, 25 Jul 2008 13:51:00 EDT

Triarc named a management team to lead Wendy's following the closing of the companies' merger later this year. J. David Karam will serve as president, succeeding Kerrii Anderson who is both president and chief executive.

American Axle Swings to Loss

Fri, 25 Jul 2008 09:35:00 EDT

American Axle posted a $644 million loss, reflecting the auto-parts supplier's struggles to restructure amid weakening demand from GM and Chrysler.

HSBC-KEB Deal Gets a Break

Fri, 25 Jul 2008 07:05:00 EDT

South Korea's financial regulator said it might decide in September whether to approve a deal for HSBC to acquire control of KEB, a break for the prolonged transaction that has come to symbolize the difficulties foreign investors sometimes experience here.

Abercrombie CFO Steps Down

Fri, 25 Jul 2008 11:41:00 EDT

Abercrombie & Fitch's chief financial officer, Michael W. Kramer, is leaving to become president and CEO at apparel maker Kellwood.

Fox to Help Theaters Enter Digital Age

Fri, 25 Jul 2008 00:23:00 EDT

News Corp.'s Twentieth Century Fox has agreed to help finance digital-cinema projectors around the country, setting the stage for next-generation movie theaters.

Starbucks Keeps Breakfast Sandwiches

Fri, 25 Jul 2008 20:17:00 EDT

In a reversal, Starbucks plans to keep selling warm breakfast sandwiches but will change their recipe in an effort to minimize their smell. The company had planned to discontinue the sandwiches because they overpowered the coffee aroma.