News Archive for August 20, 2014

  • Judge's Order Delays FDA Approval for Generic Form of Hospira Drug

    A federal judge handed a legal victory to drug maker Hospira Inc. by suspending the U.S. Food and Drug Administration's decision this week to allow the marketing of certain generic copies of Hospira's top product, the sedative Precedex.

  • Delaware Eases Access to Digital Data of Dead

    As policy makers wrestle with how to handle the digital remains people leave behind on sites like Google and Facebook after they die, a new state law expanding access to the deceased's accounts could set a national trend.

  • Army Fires at Liberians Fleeing Quarantine

    Liberian soldiers on Wednesday fired into a crowd of young men who were trying to escape a quarantine that cordoned off an Ebola-stricken neighborhood in the capital.

  • Private-Equity Firms Pursue Buyout of American Tire

    A handful of private-equity firms are vying to buy American Tire Distributors Holdings Inc. in an auction that could fetch more than $3 billion, according to people familiar with the matter.

  • HSBC China Flash PMI Falls to 50.3 in August

    BEIJING—A closely watched gauge of activity in China's manufacturing sector dropped to a three-month low in August, raising concerns about a still-fragile economic recovery.

  • N.Y. Yankees' Tanaka Says Elbow Is 'Fine'

    Masahiro Tanaka said Wednesday that the slight tear in his pitching elbow is healed, a critical development in the Yankees' ongoing push for a playoff spot.

  • European Brewers Are Hurt in Russia

    Some of Europe's largest brewers are being walloped by lower consumer spending in Russia, amid the country's standoff with the West over Ukraine and after Moscow's recent drive to restrict beer marketing.

  • Ferguson Protesters Are Drawn From Far Afield

    FERGUSON, Mo.—The parties descending on this small city from across the country range from pastors and self-proclaimed revolutionaries to the nation's chief law-enforcement officer, all drawn to the St. Louis suburb that has become the ...

  • Chef Wylie Dufresne on How to Pickle Almost Everything

    New York City chef Wylie Dufresne loves to liven up dishes with an unexpected ingredient: pickles."It's about bringing acidity to the party," says Mr. Dufresne, chef and owner of WD-50, a Michelin one-star restaurant in Manhattan. "It ...

  • Hot New Job: Migrant Beer-Canning Expert

    By the time he reached his late 30s, Pete Rickert Jr. was fed up with supervising construction sites. "I got tired of yelling at grown men all day to do their job right," says Mr. Rickert, who lives in Danville, Pa.

  • Mets Find the Power Switch, Light Up Oakland

    OAKLAND, Calif.—The nine players who make up the Mets' lineup lack the talent to consistently produce runs the old-fashioned way: by stringing together a series of hits in the same inning. They rank near the bottom of virtually every ...

  • Attorney General Holder Vows Thorough Probe of Ferguson Shooting

    FERGUSON, Mo.—Attorney General Eric Holder sought to assure residents here the U.S. Justice Department was thoroughly probing the shooting of 18-year-old Michael Brown by a police officer.

  • Cuomo Rivals Plan a Debate Without Him

    The debates are under way in the New York gubernatorial race: No, not the debates themselves—the debates over the debates.With the campaigns heating up, Democratic incumbent Gov. Andrew Cuomo hasn't agreed to debate either his Republican ...

  • Australian Mogul Says Insults Not Aimed at All Chinese

    CANBERRA, Australia—Billionaire mine owner and lawmaker Clive Palmer sought to temper anger over an outburst in which he labeled Chinese "bastards" who shoot their own people and covet Australian resources, saying his comments were directed ...

  • Japan Landslides: Many Dead in Hiroshima

    TOKYO—At least 39 people have been confirmed dead and seven are still missing after a series of landslides struck a hillside residential area in Japan's western Hiroshima prefecture early Wednesday morning.

  • Jets Receivers Can't Catch a Break

    The Jets knew they needed better receivers after last season. They addressed the problem during the off-season by signing one big free agent and drafting several prospects.

  • Amazon.com Coming to Shanghai's Free-Trade Zone

    BEIJING—Amazon.com Inc. said it plans to set up operations in Shanghai's new free-trade zone, a move that will allow it to sell more merchandise from abroad in China and help boost competition against rivals like Alibaba Group Holding Ltd.

  • Infineon to Buy International Rectifier for $3 Billion

    Infineon Technologies AG agreed to buy International Rectifier Corp. for about $3 billion, a deal uniting mature semiconductor makers that points to quickening consolidation in the sector.

  • Teen Will Feel Right at Home at U.S. Open

    RANDALL'S ISLAND, N.Y.—At the tennis facility on Randall's Island, Noah Rubin looks just like the scores of other teenagers practicing. After all, he's 18 years old.

  • Crop Tour Forecasts Illinois Corn 15% Higher Than 2013 Harvest

    CORALVILLE, Iowa.—Illinois's corn crop is forecast to vastly outperform last year's harvest, according to an average of survey results collected in the state by scouts on an annual tour through the Midwest.

  • Friend of Alleged Boston Bomber to Plead Guilty, Lawyer Says

    A former college friend of alleged Boston Marathon bomber Dzhokhar Tsarnaev is expected to plead guilty to charges connected with thwarting the investigation into the attack, his lawyer said Wednesday.

  • North Carolina Lawmakers Approve Legislation to Regulate Coal Ash

    RALEIGH, N.C.—North Carolina lawmakers Wednesday passed new legislation they say will regulate coal-ash pits and clean up decades of toxic waste generated by coal-burning electricity plants.

  • Why Johnny Manziel Should Just Start

    Johnny Manziel will begin his NFL career as a backup for the Cleveland Browns. It's likely that the other two quarterbacks chosen in the first round in this year's draft—Blake Bortles (Jacksonville) and Teddy Bridgewater (Minnesota) also ...

  • Hewlett-Packard Posts Revenue Increase After 11 Quarters of Decline

    Hewlett-Packard Co. investors have been waiting for a long-promised revival. They finally got a glimmer of reward.Revenue rose 1.3% in the three months ended July 31, H-P said Wednesday. It was the first sales increase after 11 straight ...

  • Connecticut Race for Governor Centers on the Economy

    Small-business owner Brian Martin wanted to expand his aerospace-manufacturing business in Manchester, Conn., a few years ago when he came across a new state program tailored for growing companies like his.

  • New Owners of Islanders Face Challenge of Revitalizing Fan Base

    The Manhattan investor behind a deal to buy the long-struggling New York Islanders franchise had sought to purchase a sports team for more than a decade and now faces the challenge of trying to revitalize the team's dormant fan base.

  • Texas Gov. Perry Pleads Not Guilty

    AUSTIN, Texas—Gov. Rick Perry formally has pleaded not guilty to felony charges that he abused his power by threatening to veto funding from an elected Democratic district attorney. In a filing late Tuesday, he waived the right to an ...

  • Carl Icahn Takes 8.5% Stake in Hertz

    Activist investor Carl Icahn on Wednesday disclosed an 8.5% stake in Hertz Global Holdings Inc. and said he may seek board representation.Mr. Icahn said in a regulatory filing he acquired the shares based on his belief that they were ...

  • UPS Hit by Data Breach

    United Parcel Service Inc. said Wednesday that a data breach at 51 of its UPS Stores may have compromised data on approximately 105,000 customer transactions between January and August.

  • Car Sellers Refine Pitch to Women

    On a recent hot summer night outside Detroit, a 62-year-old woman sat in a chair watching the Telegraph Cruise, a classic-car parade on Telegraph Avenue in Taylor, Mich., when a stranger approached and began asking questions.

  • Gaza Strife Escalates After Talks Collapse

    The wife and infant son of Hamas military commander Mohammed Deif were killed in an Israeli airstrike, the Islamist group said on Wednesday, after the collapse of a weeklong cease-fire sparked a sharp escalation in Gaza attacks and a freeze ...

  • Book Review: 'Excellent Sheep: The Miseducation of the American Elite' by William Deresiewicz

    Many of the freshmen arriving on campus this month at golden institutions like Harvard, Yale, MIT and Stanford already have resumes that would make a corporate headhunter salivate. These future leaders have scored off-the-charts on their ...

  • Monsanto Expects 2014 U.S. Approval for New Soybean Seeds

    Monsanto Co. expects to begin selling new soybean seeds resistant to a broader range of herbicides in 2016 pending regulatory approvals in major agricultural countries, executives said on Wednesday.

  • Marisa Tomei Adds Another Dramatic Credit in 'Love Is Strange'

    Marisa Tomei broke through in comedies such as "My Cousin Vinny," but the actress also has a resume full of dramatic credits, including "The Wrestler," "The Ides of March" and "Before the Devil Knows You're Dead."

  • Black Comedy, Before the Blacklist and the End of the World

    'See You Next Tuesday'Cinema Village22 E. 12th St.; (212) 924-3363Friday–Aug. 28Homeless, jobless and pregnant, although not necessarily in that order, Mona (Eleanore Pienta) is a social misfit at loose ends in a crummy part of a ...

  • Metropolitan Opera Contracts Give Unions a Voice in Decisions

    The Metropolitan Opera cleared the last major hurdle in a monthslong labor battle, completing the third in a series of union contract agreements that could set a precedent for the way nonprofit arts organizations approach belt-tightening.

  • Saint Laurent Bets on Rock-Star Style

    Los AngelesHedi Slimane is shaking things up again.Having dropped the Yves from Saint Laurent and killed off the iconic 1961 YSL logotype, the designer of the Parisian label is opening a Los Angeles store that will be the brand's largest, ...

  • Copper Prices Surge After Glencore Gives Bright Outlook

    Copper prices notched their biggest daily gain of the year on Wednesday, as optimistic comments from a major commodities trading house spurred investors to buy the metal ahead of key manufacturing data from China.

  • Pakistan Protest Leaders Hold Talks With Government

    ISLAMABAD—Leaders of the protests demanding the resignation of Pakistani Prime Minister Nawaz Sharif held their first talks with the government late Wednesday, as a tense standoff continued in the capital.

  • Highflying Palladium May Be Headed for a Fall

    Palladium is punching above its weight, but it may be in line for a reality check.The precious metal breached the $900-a-troy-ounce mark Monday, hitting highs not seen since 2001, when economic and political problems in Russia, the world's ...

  • U.S. Stocks Rise, Shrug Off Fed Minutes

    U.S. stocks extended their winning streak Wednesday after a brief turn lower on jitters about the outlook for Federal Reserve policy.After drifting with small gains for much of the session, stocks dipped at midafternoon, and prices of ...

  • Larry Gagosian Rocks Hamptons Art World

    EAST HAMPTON—The art dealer Larry Gagosian hosted a screening of Doug Pray's documentary "Levitated Mass: The Story of Michael Heizer's Monolithic Sculpture" on Tuesday afternoon at Guild Hall.

  • Iraqis Say Some Commanders of Insurgency in Iraq Retreat to Syria

    ERBIL, Iraq—Iraqi officials say U.S. airstrikes have driven some ground commanders of the Sunni radical group Islamic State from northern Iraq across the border into Syria.

  • Cardinal Dolan Hosts Meeting on Police With Mayor, Sharpton

    Mayor Bill de Blasio met with Cardinal Timothy Dolan and a group of other religious leaders on Wednesday to soothe tensions ahead of Saturday's march to protest the death of a Staten Island man in police custody.

  • Early Learners: How a Mom Makes Her Young Boys Earn Their Allowance

    How early can you start giving your children an allowance?Mandy Wallace put that question to the test this summer with her two boys, Cooper, 4, and Franklin, 2. Their journey to financial wisdom was launched when Cooper began "starting to ...

  • Ukrainians Adapt to Life in Refugee Camps

    A woman forced to flee fighting in eastern Ukraine bathes her child on Wednesday at a refugee camp near the Russian city of Donetsk, close to the Russian-Ukrainian border. (Agence France-Presse/Getty Images) »

  • Fed Debates Early Rate Hikes

    Federal Reserve officials debated at their July policy meeting whether they might need to raise interest rates sooner than expected in light of a strengthening recovery, but they were restrained by lingering doubts about whether the ...

  • Supreme Court Blocks Start of Same-Sex Marriages in Virginia

    WASHINGTON—The Supreme Court on Wednesday temporarily blocked the start of same-sex marriages in Virginia, as the justices moved closer to considering appeals on whether state laws barring the ceremonies are unconstitutional.

  • Going Back to the Jazz Age at the Red Room

    Speakeasy-type bars have been popping up all over New York in the past few years, but not all of them have direct ties to Lucky Luciano.The Red Room, located on the third floor of a Lower East Side tenement where Luciano ran Palms Casino in ...

  • Bank of America to Pay $17 Billion in Justice Department Settlement

    Bank of America Corp. is set to pay a record settlement of nearly $17 billion over its mortgage lending as early as Thursday, according to people familiar with the matter, capping a legal odyssey that has dogged it since the depths of the ...

  • Pinch Takes Party Food to a New Level

    BROOKLYN—The catering at a party is often an afterthought to the cause, the host, the brand and the entertainment. A little tuna tartare in a crispy cone here, a bruschetta there, maybe a gougère or lemon square to cleanse the palate.

  • Standard Chartered Faces Need to Fix Anti-Money-Laundering Systems

    Standard Chartered PLC swallowed a $300 million fine for operating allegedly flawed anti-money-laundering systems. Now, it is digesting a bigger problem: how to fix them.

  • Study Shows Rise in Visitors to Switzerland Seeking Assisted Suicide

    The number of people traveling to Switzerland for assistance with suicide grew by more than a third between 2008 and 2012, according to a preliminary analysis published Wednesday in the Journal of Medical Ethics.

  • New Study Focuses on In-Flight Risk to Infants

    Attention parents: New research suggests air travel may present more risks to infants than you thought.Safety investigators are raising warnings about in-flight turbulence, which is the leading cause of injury to children on airplanes and ...

  • Citi Bike Workers Win Labor Ruling

    Citi Bike mechanics, station technicians and other employees who run New York City's bicycle-sharing program could vote on whether to join a union as soon as next month following a decision by the National Labor Relations Board on ...

  • Russia Closes Four McDonald's Restaurants in Moscow

    MOSCOW—When it opened in 1990, the McDonald's on Moscow's Pushkin Square was a symbol of thawing relations with the U.S., attracting long lines and later becoming the fast-food chain's most visited outlet world-wide.

  • U.S. Tried to Rescue Slain Journalist

    U.S. Special Operations forces mounted an unsuccessful mission inside Syria earlier this summer to try to rescue several Americans held by Islamic extremists, including the journalist who was beheaded this week, senior Obama administration ...

  • Peru in Diplomatic Squabble With Chile

    LIMA, Peru—Peru's President Ollanta Humala has set off a diplomatic squabble with Chile by presenting a new map that shows Peruvian ownership of a disputed triangle of land on their border.

  • Brazil Eager for Silva's Economic Vision

    SÃO PAULO—With a shot at becoming Brazil's next president, Marina Silva, the Socialist Party's presumptive candidate, is being scrutinized for signs of what her economic policies would be.

  • Bond Sales in Africa Losing Allure

    Cracks are forming in Africa's debt boom.African governments are on pace to issue a record amount of bonds in 2014 for a second consecutive year, jumping at the opportunity to borrow at low interest rates to fund infrastructure and other ...

  • Antivirus Works Too Well, Gripe Cybercops

    For years, police have been in a cat-and-mouse game with an unexpected foe that can frustrate investigations—antivirus software.Law enforcement's battle against Symantec Corp.'s Norton, Intel Corp.'s McAfee brands and others gained new ...

  • Modern Humans Arrived in Europe Earlier Than Previously Thought, Study Finds

    A new study concludes that modern humans arrived in Europe much earlier than previously believed, and clarifies more specifically the long time period they overlapped with Neanderthals.

  • What's In Your Bag: How a Molecular Scientist Prepares for Field Work

    Some people light incense in the shower to set a mood. Tracie Seimon uses it for protection: The smoke keeps the swarming mosquitoes at bay during the most vulnerable 15 minutes of her day.

  • Syria's Disarmament Mirage

    It wasn't long ago that President Obama boasted of getting Syria to surrender its chemical weapons without firing a shot. "It turned out that we are actually getting all the chemical weapons," Mr. Obama told the New Yorker last November. ...

  • The Return of 'Made in Britain'

    The U.K. is now Western Europe's most competitive manufacturing center, according to a survey of major global exporting economies released this week by the Boston Consulting Group, and the British economy has the jobs to prove it. Auto ...

  • Taliban Press Offensive in Afghanistan Amid Election Crisis in Kabul

    KABUL—The Taliban are pressing a nationwide offensive in Afghanistan, according to local officials, amid a political crisis in Kabul that has left the country without a clear successor to President Hamid Karzai.

  • U.S. Watch

    FRIEND OF ALLEGED BOMBER TO PLEAD GUILTYA college friend of alleged Boston Marathon bomber Dzhokhar Tsarnaev is expected to plead guilty to charges connected with thwarting the investigation into the attack, his lawyer said.

  • North Carolina Reins in Tax Incentives for Movie Companies

    RALEIGH, N.C.—North Carolina is eliminating one of the nation's most extensive programs for awarding tax breaks to film companies, in a retreat from a race among states to lure Hollywood productions.

  • Bonus Points Scarcer at GameStop

    Four words you'll never hear at GameStop: "Please be kind, rewind."Nevertheless, comparisons are rife between the videogame retailer and defunct video rental giant Blockbuster. The fear that shifting technology will turn GameStop Corp. from ...

  • Shopper Malaise Hangs Over Target

    Target Corp. cut its outlook for the second time this year as traffic at its stores fell again, even though the discounter ramped up promotions to bring shoppers in.

  • China Fines Japan Auto-Parts Makers $200 Million

    SHANGHAI—China levied a record $200 million combined fine against 10 Japanese auto-parts and bearings makers for antitrust activities, its most dramatic move yet to tame prices in markets dominated by foreign companies.

  • Investors Pour Into Vanguard, Eschewing Stock Pickers

    Investors are pouring money into Vanguard Group, the epitome of the hands-off approach to investing, flocking to funds that track market indexes and aren't run by stock pickers or star managers.

  • Update a Classic Men's Look

    Q: I'm a trim 60-year-old working in investment management. I'm looking to freshen my wardrobe with clothes that look professional and not too old. My work colleagues wear cotton chinos and short-sleeve shirts, but I never do. My office ...

  • CBS Plays Hardball as Affiliate Fees Pile Up

    In its pursuit of a bigger share of pay-television fees, CBS Corp. plays hardball. Last summer it humbled Time Warner Cable Inc. in a month-long blackout that cost TWC hundreds of thousands of subscribers. This summer, CBS has turned its ...

  • Yoga Poseurs: Athletic Gear Soars, Outpacing Sport Itself

    Why work out when you can just buy the clothes and look like you did?The rate of growth in the U.S. retail athletic apparel market is surging, even as Americans' rate of participating in most sports is in decline.

  • Ad Barrage in Alaska Senate Race Set to Escalate

    The pace of political ads that have flooded Alaska's airwaves is set to intensify after a candidate backed by Republican leaders, Dan Sullivan, won the GOP nomination to challenge Democratic Sen. Mark Begich.

  • As 2016 Nears, Hillary Clinton Embraces Midwest Roots

    STEELEVILLE, Ill.—When Hillary Clinton lived in the White House, her home state was Arkansas. Then she was a senator from New York. As secretary of state, she traveled the world and lived in Washington.

  • U.S. Attempted Rescue of James Foley, Other Americans

    U.S. Special Operations forces mounted an unsuccessful operation inside Syria earlier this summer to try to rescue several Americans held by Islamic extremists, including the American journalist who was beheaded this week, senior Obama ...

  • Wall Street Banks Lift Pay for Junior Bankers

    Wall Street banks, under pressure to improve working conditions for junior employees, are raising salaries.A host of big banks including Goldman Sachs Group Inc., J.P. Morgan Chase & Co. and Morgan Stanley have decided to lift pay or ...

  • LG Chem to Supply Batteries For Audi Plug-In Hybrids

    SEOUL—South Korean battery maker LG Chem Ltd. has reached a deal to supply hundreds of millions of dollars worth of batteries for plug-in hybrid vehicles to Audi AG, a unit of German auto maker Volkswagen AG.

  • Warren Buffett's Berkshire Hathaway to Pay $896,000 Civil Penalty on Antitrust Issue

    Warren Buffett's crisis-era investments made him a fortune, but one resulted in a small black eye for the billionaire investor as well.Mr. Buffett's conglomerate, Berkshire Hathaway Inc. on Wednesday said it agreed to pay $896,000 to settle ...

  • Geely Automobile's First-Half Profit Falls 20%

    Geely Automobile Holdings Ltd.'s latest earnings illustrate a growing problem for Chinese auto makers: Domestic brands in the world's biggest car market are losing ground as Chinese buyers continue to drive foreign brands off the lot.

  • Why Wrigley Field Is Suddenly So Empty

    On a Wednesday night in late July, the Chicago Cubs played the San Diego Padres at Wrigley Field in front of an announced crowd of 30,718. Er, make that in front of 30,718 sold seats. The number of people in those seats was considerably ...

  • U.K and U.S. Scramble to Identify Executioner in Foley Video

    British and American intelligence agencies are scrambling to uncover the identity of the English-speaking Islamist who is suspected of killing journalist James Foley, amid deepening fears in Britain about homegrown terrorism.

  • GM Sweetens Labor Day Deals, Offers Additional Cash on Chevy Pickups

    General Motors Co. is cranking up sales incentives including heftier rebates on many Chevrolet models and deeper discounts on its top-selling Silverado pickup truck.

  • Treasury Wine Result Takes Heat Out of Bid Battle

    SYDNEY—Australia's Treasury Wine Estates Ltd.—enmeshed in a takeover battle led by two private-equity firms—hit the bottom end of its annual earnings guidance, easing pressure on the suitors to raise their evenly matched 3.38 billion ...

  • Market Chilly to Argentine Debt Proposal

    Argentina's options are dwindling after its latest proposal to exit default by sidestepping a U.S. court order met with skepticism in financial markets on Wednesday.

  • In Fear and Violence, Slain U.S. Journalist Found Humanity

    ROCHESTER, N.H.—In conflict zones sewn through with fear and violence, American journalist James Foley said he found inspiration."There is an amazing reach for humanity in these places, in these barren places," he said in a 2011 speech.

  • The Medical Innovation Threat

    An invasive species has been introduced into the U.S. health innovation ecosystem, with a growing danger of permanent damage to the development of specialty drugs. The relentless assault on the price of Sovaldi is becoming a threat to the ...

  • China's JA Solar Posts Profit as Sales Climb

    JA Solar Holdings Co. said rising sales of solar panels made it profitable in the second quarter, but the company's results still missed analysts' expectations and the stock price fell more than 6%.

  • Nervous Hedge Funds Turn Defensive on Concerns Over Asset Prices

    Some hedge funds are cutting back on their riskier positions because of fears that certain assets may have become overpriced and concerns about the conflicts in Ukraine and Iraq.

  • Do Higher Minimum Wages Create More Jobs

    Since the release of the May jobs report, President Obama and many in the media have been crowing about new evidence allegedly showing that minimum-wage hikes stimulate job growth. At a speech in Denver on July 9, Mr. Obama noted that ...

  • Nervous Hedge Funds Turn Defensive on Concerns Over Asset Prices

    Some hedge funds are cutting back on their riskier positions because of fears that certain assets may have become overpriced and concerns about the conflicts in Ukraine and Iraq.

  • Do Higher Minimum Wages Create More Jobs

    Since the release of the May jobs report, President Obama and many in the media have been crowing about new evidence allegedly showing that minimum-wage hikes stimulate job growth. At a speech in Denver on July 9, Mr. Obama noted that ...

  • Notable & Quotable: Unions Violate Labor Law, Too

    Diana Furchtgott-Roth writing at realclearmarkets.com, Aug. 12:President Obama's new "Fair Pay and Safe Workplaces Executive Order" requires federal contractors to disclose labor law violations for the past three years to the government ...

  • The Golden Age of Neuroscience Has Arrived

    More than a billion people were amazed this summer when a 29-year-old paraplegic man from Brazil raised his right leg and kicked a soccer ball to ceremonially begin the World Cup. The sight of a paralyzed person whose brain directly ...

  • Mo'ne Davis: UConn Recruit

    Mo'ne Davis, who became the breakout star of this year's Little League World Series when she threw a complete-game shutout in youth baseball's pinnacle event, last week said what she really wants to do when she grows up: play point guard ...

  • Turkey's Peace Talks With Kurds Marred by Violence

    ISTANBUL—Turkey said at least one soldier was killed in an attack by the outlawed Kurdistan Workers' Party, or PKK, as a recent surge in assaults threatens efforts to end the group's three-decade conflict with the Turkish government.

  • Tax Credits Won't Lift Economic Growth

    There's a policy debate among conservatives in Washington about the best way to cut taxes and reform the tax code. The supply-siders want to replicate the success of Reaganomics with lower marginal tax rates. But there's also a camp who ...

  • Citi Japan Unit's Clients Seen as Attractive

    TOKYO—Citigroup Inc.'s plan to sell its Japanese retail-banking unit may draw some interest from Japanese banks not because the unit is a big moneymaker but because it is thought to have a relatively wealthy customer base, bankers in Tokyo ...

  • Glencore to Buy Back Shares as It Swings to a Profit

    Glencore PLC said it would buy back $1 billion in shares, underscoring its commitment to returning cash to shareholders rather than spending it on expensive expansion projects.

  • FedEx's 'Money Laundering' Scheme

    The Justice Department has added three charges of money laundering to last month's dubious indictment of FedEx for drug trafficking. Maybe government prosecutors figure by the rules of probability that the more implausible allegations they ...

  • Plouffe for Free Markets

    Everyone has to make a living, so far be it from us to complain that David Plouffe, President Obama's former chief political strategist, is joining a private business to fight government regulation. The uber-politico will join Uber, the ...

  • So What Will You Do, Mr. President

    President Obama on Wednesday condemned the made-for-YouTube murder of American James Foley with as much passion as we've seen from the cool Commander in Chief.

  • Top U.K. Fund Manager Neil Woodford Says Equities Are Overvalued

    One of the U.K.'s top fund managers of recent years is warning that Europe's equity markets are highly overvalued."All evidence points to a troubling growth outlook" in Europe, said Neil Woodford, a 26-year veteran fund manager who left a ...

  • Canadian Rail Accidents Involving Dangerous Goods Rose Last Year

    Canadian rail accidents involving dangerous goods rose 21% last year from 2012, reflecting a rapid rise in the movement of crude oil by rail.

  • Was Iraq Worth It

    Was it worth it? That's a question I've been asked no fewer than five times since large portions of Iraq have fallen to the murderous Islamic State of Iraq and al-Sham. As a Marine veteran who served a tour of duty in Ramadi in 2005-06, I ...

  • Journey to the Future of the Past

    New York'Have we not often fancied that images have a soul?" asks a man who has been driven by unrequited longing to invent a machine unlike any other in Emidio Greco's "Morel's Invention" ("L'invenzione di Morel," 1974). If science fiction ...

  • Ukraine Warns About Economic Fallout of Crisis As Fighting Rages On

    MOSCOW—Ukraine's prime minister on Wednesday issued his starkest warning yet that the conflict in the country's east is causing long-term damage to its economy and hamstringing much-needed overhauls.

  • Ferguson, USA

    It has been 50 years since Congress passed the Civil Rights Act of 1964. Across that half century, the condition of inner-city black life in America has consumed immeasurable amounts of the nation's public and private spending, litigation, ...

  • Recycled History

    Chicago'Metamorphology," the needlessly forbidding title of Simon Starling's midcareer retrospective at the Museum of Contemporary Art, is a well-intentioned word designed to express what a shape-shifter the British artist has been.

  • Obama's Learning Curve

    Apparently, it's not just the sluggish economy and ObamaCare that's dragging down the president's job-approval rating. According to a recent survey, Americans also take issue with Barack Obama's education initiatives.

  • Coca-Cola Amatil Faces Challenges in Indonesia

    SYDNEY—Coca-Cola Amatil Ltd. has profited from the rise of income growth in Indonesia in recent years, but competition and higher costs are taking the air out of the Australian drinks company's operations there.

  • New N.C. Senate Poll

    The U.S. Senate race in North Carolina is rated a "toss-up" by the political prognosticators, and a new USA Today poll shows why.Incumbent Democrat Kay Hagan leads Republican Thom Tillis by just two points, well within the poll's +/- 4 ...

  • Glencore's Glasenberg Deserves Credit for Mining a Buyback

    Ivan Glasenberg was out to prove a point. The chief executive of Glencore Wednesday became the first boss of a major mining company this year to hand money back to shareholders, announcing plans for a $1 billion share buyback on top of the ...

  • American Eagle Flies in Face of Short Sellers

    Investing is all about expectations—much to the frustration of some short sellers. American Eagle Outfitters is a case in point.Shares in the teen-apparel retailer surged 12% Wednesday after the company reported a 70% drop in fiscal ...

  • Mylan Makes Second Round of Bidding for Glaxo Mature-Drug Portfolio

    LONDON—U.S. generic drugs company Mylan Inc., private equity groups TPG Capital LLP, Advent International, KKR & Co L.P., and Warburg Pincus LLC, and some Indian drug makers have made it through to the second round of bidding for a ...

  • Norwegian Faces Claims Over Dreamliners

    European discount airline Norwegian Air Shuttle A/S faces a new challenge as it expands into long-haul flying: disgruntled passengers.The airline has suffered a series of high-profile technical problems with its Boeing Co. 787 Dreamliners ...

  • America Inc. Gets Schooled on Wages

    The labor market may not be tight, but companies that rely on less-educated workers could still feel the pinch.Even when joblessness is high, employers can have a knee-jerk tendency to grouse about a dearth of workers. The fantasy of ...

  • The King's Third Act

    Within the span of a few months in 1970, the short-lived film genre known as the "concert/documentary movie" reached its apogee with three releases that each marked a turning point in artistic evolution. "Let It Be" was the final major ...

  • MetLife Is Closer to Possible 'Systemically Important' Designation

    WASHINGTON—A panel of top government officials on Wednesday moved MetLife Inc. one step closer to possible designation as a "systemically important financial institution."

  • Lawmakers Mostly Back Obama's Campaign Against Islamic State

    WASHINGTON—Lawmakers on Wednesday generally endorsed President Barack Obama's campaign against Islamic State militants following the group's release of a videotape of the beheading of an American journalist, though some key Republicans said ...

  • Former Virginia Gov. Says His Wife Showed Strains Right After Election

    RICHMOND, Va.--Former Gov. Bob McDonnell testified that his wife Maureen was showing the strain of becoming first lady within hours of his election, as Mr. McDonnell took the stand late Wednesday in his own defense in the couple's trial on ...

  • In Defense of Obama

    "Protesters clashing with police over the shooting death of an unarmed black teenager say President Obama needs to do more to solve the racially charged conflict," the Hill reports from Ferguson, Mo.:

  • U.K. Interest Rates Need Firmer Footing Despite Bank of England Dissenters

    The Bank of England is assessing a tug of war, but it cannot really see either team.On one side is British industry, on the other the country's workers and consumers. The BOE isn't watching for a winner or loser, but trying to work out the ...

  • Synopsys Inc. Fiscal Third-Quarter Profit Up 26% on Higher Revenue

    Synopsys Inc.'s fiscal third-quarter profit rose 26%, as higher revenue that more than offset an increase in operating expenses.For the current quarter, the company said it expects per-share adjusted earnings of 59 cents-61 cents and ...

  • Chicago Teachers Union President Eyes Mayoral Bid Against Emanuel

    CHICAGO—One of the fiercest critics of Chicago Mayor Rahm Emanuel took an initial step Wednesday to challenge him in the coming mayoral election.

  • N.Y. Financial Watchdog Fines Standard Chartered $300 Million

    Standard Chartered PLC will pay a $300 million penalty to New York's financial regulator and impose measures to correct lapses in its anti-money-laundering procedures, the New York State Department of Financial Services said Tuesday, as ...

  • Rise of the Five-Figure Bicycle

    Last year, Ted Perry dipped into his 401(k) to buy a $20,000 bicycle.Mr. Perry, of Dublin, Calif., knows it sounds crazy to own a bike worth more than his 2007 Honda Civic. But he has no buyer's remorse about the custom-built two-wheeler he ...

  • Sam Zell, Ex-Partner Face Off in Emerging Markets

    Since an acrimonious split two years ago, Sam Zell and his former partner Gary Garrabrant have kept their distance.Now they are preparing to square off on turf they once conquered together: emerging-markets real estate.

  • U.S. Airstrike Success Spurs Push for More Iraq Attacks

    WASHINGTON—The U.S. military's recent success in weakening Islamic State extremists and pushing them away from a key dam in Iraq is creating momentum for a broader campaign that could take American air power to the militant group's ...

  • London's 'Ugly' Barbican Complex Gains a New Following

    The Barbican, a central London housing and arts complex, has topped polls of the city's greatest eyesores. The 40-acre former low-income housing project is made up of gray slabs of concrete, high pedestrian walkways that wrap around soaring ...

  • David Cameron Calls Killing of James Foley Act of Murder

    LONDON—U.K. Prime Minister David Cameron said Wednesday that the recorded beheading of a U.S. journalist by an extremist who may be British was an act of murder without justification, but he reiterated that Britain wasn't going to get ...

  • Corporate Watch: News Summary

    Rhône Capital Buys Stake in Cosmetics FirmElizabeth Arden Inc. said its fiscal-fourth quarter loss widened sharply as a larger-than-expected drop in celebrity-fragrances sales pushed down revenue.

  • Kabul Orders New York Times Reporter to Leave Country Within 24 Hours

    KABUL, Afghanistan—Afghanistan ordered a New York Times correspondent on Wednesday to leave the country within 24 hours and barred him from returning over a story he wrote saying a group of officials were considering seizing power because ...

  • Tony Stewart to Skip Another Race in Wake of Fatal Crash

    Tony Stewart won't race Saturday night at Bristol Motor Speedway, the third Sprint Cup race he has skipped since his car struck and killed Kevin Ward Jr. during a sprint car race.

  • Prosecutors Present Evidence to Grand Jury in Michael Brown Shooting

    CLAYTON, Mo.—St. Louis County prosecutors on Wednesday began a weekslong process of presenting evidence to a grand jury in the police shooting of an unarmed black teenager that has sparked more than a week of unrest in Ferguson, Mo.

  • Sandell Claims at Least Five Board Seats at Bob Evans

    Activist investor Sandell Asset Management Corp. on Wednesday said at least five of its nominees will join the 12-member board of Bob Evans Farms Inc., according to preliminary estimates of voting results at the company's annual shareholder ...

  • Ailing Fish Farmer Shows Gaps in Greek Bankruptcy Regime

    ATHENS—In the decade before Greece's debt crisis, businessman Aristides Belles rode a wave of acquisitions to turn his company, Nireus Aquaculture SA, into one of the largest fish farmers in the world—a staple of supermarket shelves across ...

  • Asian Morning Briefing: U.S. Stocks Shrug Off Fed Minutes

    MARKETS AT A GLANCE(Data as of approximately 5 p.m. ET)SNAPSHOTU.S. stocks finished mostly higher in light volume as investors shrugged off Fed minutes showing policymakers debated whether to raise interest rates sooner than expected. ...

  • Women Now Make Up Almost Half of Gamers

    COLOGNE, Germany—For years, Gamescom—one of the world's biggest annual trade exhibitions for digital gamers—has been a man's world.But games developers now are increasingly targeting a growing community of female gamers, as a way of ...

  • Mexico's Pemex Adjusts Structure to Compete With Private Companies

    MEXICO CITY—State-owned oil company Petróleos Mexicanos said Wednesday that it is creating drilling, logistics and electricity affiliates as it restructures its operations to compete with private oil firms.

  • L Brands Books Higher Profit, Sales

    L Brands Inc.'s fiscal second-quarter profit improved as the retailer continued to record higher sales, though margins weakened slightly.The company also boosted its full-year outlook, saying it now expects per-share earnings of $3.03 to ...

  • U.S. Treasurys Slip as Fed Policy Regains Focus

    U.S. Treasury prices slipped Wednesday after details from the Federal Reserve's latest policy meeting showed debate heating up over when best to increase interest rates.

  • Deadly Landslides Hit Hiroshima

    Japanese soldiers and police carry the body of a victim of one of a series of landslides that swept through Hiroshima, western Japan, on Wednesday following heavy rainfall. At least 36 people died and seven were missing as rescue efforts ...

  • There's Gold in Them There Office Carpets

    Regarding the page one article "At Australian Mint, History Thwarts a Golden Opportunity" (Aug. 14), this isn't the first time mints have made money this way. San Francisco Mint in 1886 reclaimed more than 170 ounces of gold when it burned ...

  • World War I Wasn't Lewis's Big Influence

    While I enjoyed Joseph Loconte's piece on C.S. Lewis, J.R.R. Tolkien and the ravages of The Great War ("Of Hobbits, Narnia and Postwar Belief," Houses of Worship, Aug. 8), it is my understanding that Mr. Lewis considered his experiences in ...

  • Alain Juppé Declares Intention to Seek French Presidency in 2017

    PARIS—Alain Juppé, a prime minister under center-right French President Jacques Chirac and a senior minister during the presidency of Nicolas Sarkozy, said on Wednesday that he would seek to become president in 2017.

  • Pity Immigrants Following the Law

    Dr. Manmeet Singh's story of coming to America the legal way, following the rules and contributing to society really hits home with those of us who have done the same thing ("Lament of a Legal Alien," op-ed, Aug. 12). At one time holders of ...

  • A Threat to Independent Inspectors

    Your editorial "Obama's Tax Law Rewrite" (Aug. 7) regarding possible administrative actions to limit corporate tax inversions or reduce post-inversion tax benefits came on the heels of an extraordinary letter to Congress signed by 47 of the ...

  • The Supply-Side Is About Growth, Not Redistribution

    Alan Blinder misrepresents supply-side economics to argue for government redistribution ("The Supply-Side Case for Government Redistribution," op-ed, Aug. 15). Supply-side economics is simple: People free from onerous taxes, regulation, ...

  • Brazil Announces New Measures To Improve Credit Transactions

    BRASILIA-—The Brazilian government on Wednesday announced measures aimed at increasing bank lending, including granting banks permission to issue home-equity loans.

  • U.S. Dollar Strengthens on FOMC Minutes

    The dollar jumped against the euro and yen Wednesday after minutes from the most recent meeting of the Federal Open Market Committee showed the central bank was gradually shifting its stance in a more hawkish direction.

  • Perry Charges Put Spotlight on Prosecutor

    AUSTIN, Texas—San Antonio lawyer Michael McCrum, the special prosecutor behind the indictment of Republican Gov. Rick Perry, is described by colleagues as a steadfastly apolitical straight shooter.

  • Oil Prices Gain on Larger-Than-Expected Supply Drop

    Oil prices gained Wednesday after U.S. government inventory data showed a decline in crude-oil supplies as refineries processed more oil than expected last week.

  • Ferguson Marches Reach Turning Point, Police and Protesters Say

    FERGUSON, Mo.—There are new signs the violent protests that rocked this St. Louis suburb for more than a week may be abating, law-enforcement and protest leaders say.

  • Lehman Reaches $306 Million Deal With U.K. Pensions Regulator

    The team winding down Lehman Brothers' U.K. business will pay more than $300 million to the unit's pensioners, the biggest win ever for the U.K.'s pension authorities.

  • Gold Prices Slip After Fed Minutes

    Gold prices continued to fall in electronic trading Wednesday, as minutes from the Federal Reserve's most recent meeting showed the central bank debating whether to raise interest rates sooner than expected.

  • Foreign-Exchange Industry Calls for Tougher Rules

    The foreign-exchange industry is calling for tougher rules for traders as well as the overhaul of a key benchmark to make it less vulnerable to manipulation.

  • Lehman Brokerage Wants New Hearing in Dispute with Barclays

    Lehman Brothers Holdings Inc.'s brokerage is asking a U.S. court to reconsider its ruling affirming Barclays PLC's right to billions of dollars in disputed assets, saying the decision throws into question the integrity of bankruptcy sales.

  • Canada Renews Push to Dismantle Internal Trade Barriers

    OTTAWA—The Canadian government, which has been pushing free-trade deals with other countries as a key part of its agenda to bolster economic growth, is turning its attention to internal trade barriers.

  • Barclays to Pay $23 Million to Settle Thornburg Mortgage Lawsuit

    The court-appointed trustee overseeing the liquidation of Thornburg Mortgage Inc. has reached a deal with Barclays Capital Inc. to settle a subprime-era lawsuit alleging the bank made improper margin calls that helped drive the mortgage ...

  • Greater New York Watch: News Summary

    Fatal Four-Alarm Fire Ruled AccidentalAn overloaded power strip tucked under furniture in a Hamilton Heights apartment sparked an apartment building blaze that killed a 15-year-old girl, Fire Commissioner Daniel Nigro said Tuesday.

  • Overheard: Another Selloff In Store for Apple

    For the superstitious crowd, Apple crossing the $100 mark on Tuesday calls to mind the company's last big run-up two years ago—which was followed by a whopping selloff.

  • Einat Admony's Recipe for Ouzo-Drenched Mussels With Fennel and Tomatoes

    IT'S A RESTAURANT name with real charisma: Balaboosta. Yiddish for "perfect housewife, homemaker, wonderful mother, cook and gracious hostess," it fits chef Einat Admony's casual place in Manhattan's Nolita neighborhood to a T. "I wanted to ...

  • World Watch: News Summary

    Three Relatives of Pope Are Killed in Car CrashThree relatives of Pope Francis died and a fourth was in critical condition after their car crashed on a provincial highway in Argentina, the Vatican and a local police official said.

  • At Work: Does For-Profit Degree Pay Off for Job Seeker

    How do employers really view graduates of for-profit colleges like the University of Phoenix and ITT Education?No better—or worse—than people with the same credentials from community colleges, according to a new working paper from the ...

  • A $6,600 Bomber-Style Dior Evening Coat Or a Tent's Worth of Utilitarian Elegance

    $6,600 BUYS YOU...Dior Evening CoatDior creative director Raf Simons has loved the nylon bomber jacket since he designed menswear in the '90s. He recently revived it in rebelliously refined form as this full-skirted evening coat. If you're ...

  • Air Berlin Swings to Profit in Second Quarter

    FRANKFURT—Air Berlin PLC said Wednesday it swung to a net profit in the second quarter thanks to a better financial result and its current cost-cutting program.

  • California Wildfire Threatens More Than 1,000 Homes

    KERNVILLE, Calif.—A wildfire northeast of Bakersfield burning in steep terrain destroyed eight homes and was threatening more than a thousand others, authorities said Wednesday.

  • Hunt for Yield: Once Favored Plays in Singapore Lose Luster

    Another yield play has lost its luster, this time in Singapore.In recent weeks, trusts with assets from ports to golf courses and shopping malls that had attracted yield-starved investors have seen declines in their Singapore-listed shares, ...

  • Heard on the Pitch

    FIFA Upholds BarcelonaTransfer Ban for 2015Barcelona will be forbidden from signing any new players for the next two transfer windows after soccer's world governing body, FIFA, upheld on Wednesday the ban it imposed last spring. The FIFA ...

  • Canadian Judge Says Nortel Bondholders Can't Collect Interest

    A Canadian judge has rejected a bid by investors to collect interest on some $4 billion of bonds issued by now-defunct telecommunications company Nortel Networks Corp.

  • AirAsia Net Profit Rises on Foreign-Exchange Gains

    Malaysian budget carrier AirAsia Bhd. on Wednesday reported a surge in net profit in the second quarter, largely because of foreign-exchange gains on loans.

  • AT&T Gigabit Service to Land on Google's Turf

    AT&T Inc. is bringing its ultrafast Internet service to Apple Inc.'s hometown and a few miles from Google Inc.'s doorstep.The carrier plans to make Cupertino the first city in California to receive its up to one gigabit service U-verse ...

  • Carillion Won't Pursue Merger After Balfour Beatty Rejects Bid

    LONDON—U.K. construction company Carillion won't pursue a merger to create a U.K. sector giant after Balfour Beatty rejected its latest offer.

  • Volvo Car Swings to Net Profit as CEO Says Bullish on Sales

    STOCKHOLM—Volvo Car Corp. Chief Executive Håkan Samuelsson is in a bullish mood.The boss of the Swedish-based, Chinese-owned auto maker said on Wednesday sales volumes are likely to rise 10% this year over 2013. That is up from a forecast ...

  • Texas Auto-Finance Firm Fined for Providing Inaccurate Information

    WASHINGTON—The Consumer Financial Protection Bureau Wednesday ordered a Texas-based auto-finance company to pay a $2.75 million fine for failing to fix "known flaws" in a computer system that for years provided inaccurate information to ...

  • The Battle of Okinawa Rages On

    Okinawa, JapanThis tropical island was the site of World War II's bloodiest Pacific battle, which lasted from April to June 1945 and left 12,500 U.S. servicemen dead. In the decades that followed, Okinawa became a hub of U.S. military ...

  • What's News—

    Business & FinanceBank of China reported a jump in bad loans for the first half of the year even as profit rose, sounding a cautious note for large Chinese banks as they report results amid slowing economic growth.

  • Bank of England Officials Break Ranks on Rates

    LONDON-—Two officials at the Bank of England pushed for an immediate rise in interest rates in August, minutes published Wednesday showed, marking the first dissent on policy faced by Gov. Mark Carney since he took office in July 2013.

  • Revisiting Teenage Dreams

    One great way to make yourself cringe is to watch video of yourself as a teenager. If only you could go back in time and give yourself a little advice to ease the way forward.

  • Libya's Largest Terminal Resumes Oil Exports

    LONDON—Libya said Wednesday it was resuming oil exports from its largest terminal after a year-long stoppage, as its oil industry manages to recover despite intense fighting in large cities.

  • Alaska Oil Tax Repeal Measure Losing

    An Alaska ballot measure to repeal a 2013 oil tax law that drastically cut the amount major oil companies in the state appeared headed for defeat.

  • Media General, LIN Agree to Sell Stations to Satisfy Deal Conditions

    Media General Inc. and LIN Media LLC said they reached deals to divest themselves of television stations in five markets to satisfy regulatory conditions for the companies' pending merger.

  • Market Talk: Argentina, Glencore and Bank of England

    Market Talk, a feature of Dow Jones Newswires, provides real-time analysis of breaking news, as well as running commentary on financial market activity. Wall Street Journal reporters and editors around the globe contribute to the Market ...

  • Hollande Vows No Change as French Economy Stagnates

    PARIS—France's Socialist President François Hollande vowed Wednesday to stick to a fiscal program he set out in January, even as he returned from a short vacation to find that the country's economy stagnant and fewer French people trusting ...

  • Islamic State Claims Killing of American Journalist James Foley

    WASHINGTON—Militants from the group Islamic State released a video Tuesday that appeared to show the beheading of American journalist James Foley in an act of retribution for U.S. airstrikes on the group in Iraq.

  • Iceland Evacuates People Living Near Bardarbunga Volcano

    STOCKHOLM — Iceland's civil protection authority is evacuating people from the area surrounding the island country's Bardarbunga volcano as earth tremors raise fears of an impending eruption.

  • Luxottica Shares Fall Amid Fears That CEO Andrea Guerra May Leave

    MILAN—The world's largest eyewear company, Luxottica SpA, which owns brands including Ray-Ban and Oakley, saw its shares fall up to 6% on Wednesday amid speculation that Chief Executive Andrea Guerra could be about to leave his position ...

  • Companies, Schools Affected by Turmoil in Ferguson

    FERGUSON, Mo.—More than a week after the police shooting of an unarmed teenager, this St. Louis suburb is finding it harder to pick up the pieces following repeated nights of turmoil.

  • Demonstrators Remain Defiant During Calmer Night in Ferguson

    FERGUSON, Mo.—This strife-torn city prepares for the visit of Attorney General Eric Holder Wednesday after a night of comparative calm in the wake of more violent protests over the police shooting of an unarmed teenager.

  • Garbage Piles Up on Australia's Streets

    SYDNEY—Garbage is piling up on streets across Australia as a major company responsible for its collection investigates a fatal crash involving one of its waste-removal trucks.

  • Canada's Big Banks Seen Reporting Mixed Third-Quarter Results

    TORONTO--Canada's major banks begin reporting their fiscal third-quarter earnings this week and are expected to produce mixed results year-over-year amid middling loan growth and strong capital-markets activity.

  • Regulators Eye Variable Annuity Sales

    Responding to customers' complaints, some states are putting a spotlight on how financial advisers sell variable annuities—and the results aren't pretty.

  • No Rest for Protesters, Police in Divided Missouri City

    CIVIL UNREST: Conflict rose again Monday night in Ferguson as police confronted demonstrators. The National Guard arrived earlier in the day. »

  • Staples Pushes Turnaround Bid As Sales Fall Again

    Staples Inc. said its fiscal second-quarter profit and sales declined, while the struggling office-supplies retailer pushed ahead in its plans to close underperforming stores and spark sales growth online.

  • BP Hires Chief to Run its U.S. 'Lower 48' Onshore Business

    BP PLC said Wednesday that it hired David Lawler, an executive with U.S. independent petroleum producer Sandridge Energy Inc., to run a separate business unit it is creating for the U.S.'s lower 48 states.

  • Anthems Sung in a Patriotic Key

    The burning of the White House on Aug. 24, 1812, by British troops under the command of Maj. Gen. Robert Ross isn't an obvious candidate for national celebration. But the event, distressing as it was at the time, did have one silver lining. ...

  • Voices: Howard Hook, on Clients Who Own Too Many Assets

    Voices is an occasional column that allows wealth managers to address issues of interest to the advisory community. Howard Hook is a certified financial planner with EKS Associates in Princeton, N.J.

  • Russia Tensions May Hurt Norway Oil Fund Earnings

    OSLO—The effect on European equities of tensions between Russia and the West could pose a challenge to Norway's $890 billion sovereign-wealth fund, its chief executive said Wednesday.

  • Drone Maker Northrop Grumman Eyes Europe Orders

    Northrop Grumman Corp. is betting the introduction of high-altitude surveillance drones within the North Atlantic Treaty Organization will help trigger orders for dozens of such aircraft from European armed forces.

  • Macy's Reaches Settlement on Racial Profiling Allegations

    Macy's Inc. agreed to pay $650,000 in a settlement related to allegations of racial profiling at its New York stores.As part of the agreement, Macy's will designate an independent expert on anti-discrimination laws and racial-profiling ...

  • Europe to Launch New Generation Global Positioning Satellites

    LONDON—Europe on Thursday is slated to launch the first of a new generation of global-positioning satellites as it seeks to divorce itself from reliance on the Pentagon's GPS constellation that has become the backbone of global commerce.

  • Canada Wholesale Sales Rise

    OTTAWA—Wholesale sales in Canada advanced in June at a faster-than-expected pace on robust sales of agricultural supplies and building materials.

  • Iraq Military Launches Offensive to Reclaim Tikrit

    BAGHDAD—The Iraqi military launched a major air and ground offensive early Tuesday to reclaim Tikrit from Islamist militants, who had taken control of the city best known as the hometown of former dictator Saddam Hussein, officials said.

  • Malaysia Consumer Prices Rise at Slower Pace in July

    Malaysia's consumer prices rose at a slower pace in July despite festive season during the month, clouding the prospects for another interest rate increase this year.

  • Who Is Your Entrepreneurial Role Model

    Small-business owners often look up to other entrepreneurs who "made it" or those who have continued to run successful smaller operations. With this issue in mind, we asked The Experts: Who is your entrepreneurial role model?

  • Missing Chairman Complicates IPO

    HONG KONG—China International Capital Corp. has dropped CCB International (Holdings) Ltd. from the list of underwriters on its planned initial public offering after a company the bank floated early this year recently said its chairman had ...

  • How Expanding Businesses Can Keep Their Small-Company Culture

    The challenge for many companies is to simultaneously grow the business and still hold on to that family or team dynamic that was instrumental in getting the business off the ground. So we asked The Experts: How do you maintain your ...

  • Smucker Sales Fall 2% on Coffee Promotions

    J.M. Smucker Co. said its fiscal first-quarter sales fell 2%, hurt by increased promotions as its U.S. retail-coffee business.The company's results fell short of market expectations, and Smucker also issued a less optimistic sales outlook ...

  • Russia's Mobile TeleSystems Cuts 2014 Sales Forecast on Ukraine Crisis

    MOSCOW—Russia's leading telecoms operator said it has cut its forecast for revenue growth, citing disruption to its business in Ukraine after months of conflict there.

  • American Eagle Outfitters Profit Slides

    American Eagle Outfitters Inc. on Wednesday said its fiscal second-quarter earnings slid 70%, as the teen-apparel retailer's same-store sales slumped.

  • Bristol-Myers, Celgene to Collaborate on Cancer-Treatment Study

    Bristol-Myers Squibb Co. and Celgene Corp. have agreed to collaborate on a clinical study for a potential cancer treatment that will combine immunotherapy and chemotherapy, the companies said Wednesday.

  • U.S. Official Seeks Japan's Help on Russia Sanctions

    TOKYO—A U.S. Treasury Department official called on Tokyo to cooperate fully with U.S. and European sanctions on Russia, saying Japanese companies shouldn't seek to grab business left behind by Western rivals.

  • Operating Expenses Bite Into MSG Profit

    Madison Square Garden Co. said its fiscal fourth-quarter profit fell 67% as sharply higher operating expenses masked an increase in revenue.

  • Germany to Send Military Equipment to Iraq

    BERLIN—Germany is prepared to arm Kurdish troops fighting Islamist insurgents and it will begin delivering non-lethal equipment to Iraq in coming days, the defense minister said.

  • What's News: World-Wide

    The U.S. military is considering new airstrikes to prevent Islamic State from taking control of a strategic dam in Iraq's Sunni stronghold.The Iraqi military launched a major air and ground offensive in a bid to reclaim Tikrit, which fell ...

  • What's News: Business & Finance

    A forecasting error in Walgreen's Medicare-related business has cost the jobs of two top executives and alarmed big investors.BHP plans to spin off nickel, aluminum and other properties, in what would be one of the biggest asset sales in ...

  • Amicus Therapeutics' Fabry Treatment Meets Primary Endpoints

    Amicus Therapeutics said Wednesday that a potential treatment for Fabry disease reached its primary endpoints in a late stage study.Shares of the company rose as much as 40% in premarket trading as the company said it would move forward ...

  • The 10-Point.

    Good morning,The Gaza conflict has brought the armed wing of Hamas out of the shadows. Our story chronicles the lives of two Qassam Brigade fighters, from their decision to join the guerrilla army to their final hours with their families. ...

  • Fortescue Plans to Repay Debt as Profit Jumps

    SYDNEY—Fortescue Metals Group Ltd. said it hoped to repay as much as US$1.5 billion of debt within the next year, after a sharp rise in iron-ore output from its Pilbara mines fueled a 56% jump in annual profit.

  • IFC to Raise $2.5 Billion Via Rupee Bonds, Swaps in India

    NEW DELHI--The International Finance Corp., the private financing arm of the World Bank Group, said Wednesday that it will raise $2.5 billion by selling rupee-denominated bonds and swaps in India over the next five years.

  • Germany Pays No Return at Debt Auction

    FRANKFURT—Germany paid no return at an auction Wednesday of a new series of two-year debt, in a sign that the search for havens remains a priority for investors.

  • Fortescue Remains Chained to Its Ore

    The thing with commodity companies is that the commodity often matters more than the company.Investors should remember this about Fortescue Metals Group, the world's fourth-largest exporter of iron ore. On Wednesday, the Australian miner ...

  • Asian Shares Mixed Ahead of Fed Meeting

    Asian stocks finished mixed Wednesday, with Hong Kong's Hang Seng gaining again ahead of a U.S. Federal Reserve meeting and data on Chinese manufacturing activity.

  • Dutch MH17 Investigators Seek Return to Ukraine Crash Site

    AMSTERDAM—Air accident investigators probing the downing of Malaysia Airlines Flight 17 said Wednesday they will try to return to the crash site if the security situation in eastern Ukraine were to improve again.

  • Dubai International Financial Center Chief Executive Resigns

    DUBAI—Jeff Singer, the chief executive of the Dubai International Financial Center, or DIFC, said on Wednesday he has resigned with immediate effect.

  • Industrial Sentiment Improves Again in Post-Coup Thailand

    BANGKOK—Industrial sentiment in Thailand rose for a third straight month in July as the military government's economic plans became more clear.

  • Citigroup Considers Sale of Retail-Banking Business in Japan

    Citigroup Inc. is considering whether to pull out of retail banking in Japan, said people familiar with the matter, as the New York lender rethinks its global operations after a string of regulatory problems in the U.S. and abroad.

  • Youku Streams Problems Alibaba's Way

    Alibaba's entertainment investments are creating an awful lot of static.After it disclosed possible accounting issues last week at its recently acquired film studio, news came Wednesday that Alibaba's big bet on streaming video has stumbled ...

  • Bank of China Meets European Fund Managers

    One of China's big four banks has met with European investors as part of its early efforts to sell billions of dollars in shares, according to people familiar with the matter, signaling the lengths Chinese lenders are going to as part of a ...

  • Atos Takes Control of French Rival Bull

    PARIS—French IT services company Atos SE said Wednesday it had completed the takeover of its smaller rival Bull SA after securing 84.25% of its shares in a tender offer earlier this month.

  • German Producer Prices Decline

    FRANKFURT--Factory-gate prices in Germany fell more than expected in July as energy prices continued to depress the index, suggesting further downside risks to the inflation outlook, data from the country's statistics office showed ...

  • Heineken First-Half Net Profit Falls 1.3%

    AMSTERDAM-Heineken NV Wednesday reported a 1.3% drop in net profit for the first six months of the year as currency movements and divestments weighed on sales, while it expects organic growth to moderate in the second half of the year.

  • Carter Blast in Ninth Sends Astros Over Yankees

    Chris Carter, the Houston Astros' free-swinging strongman, leads the American League in strikeouts, and the all-or-nothing first baseman had already struck out four times heading into the ninth inning Tuesday night in the Bronx. Yankee ...

  • National Guard Bolsters Police in Divided Missouri Town

    CIVIL UNREST: Members of the Missouri National Guard arrived Monday at the Missouri Highway Patrol command center in Ferguson. »

  • Neptune Orient Lines Mulls Sale, IPO Of Logistics Business

    SINGAPORE—Container shipper Neptune Orient Lines Ltd. is seeking to sell its profitable logistics business, as the Singapore company struggles with falling freight rates and an industrywide glut of ships.

  • Indiana Drops Common Core

    Indiana's governor on Monday signed legislation withdrawing the state from the Common Core, making it the first to officially dump math and reading standards that have been adopted by nearly all the states.

  • Argentina Moves to Pay Exchange Bondholders In Argentina

    BUENOS AIRES—Three weeks after defaulting on its debt, Argentina moved to circumvent a U.S. court order by offering a bond swap that would let it pay bondholders in Argentina instead of in the U.S.

  • Common Core Has Less Support in Poll

    Public support for the Common Core educational standards is waning, according to an annual poll about public schools by Gallup and PDK International, a group for education professionals.

  • What's News—

    Business & FinanceGoogle is transforming its business and the notion of search through a richer offering of information and services that has some advertisers wishing it was still largely a Web index.

  • Islamic State Claims Killing of American Journalist James Foley

    WASHINGTON—Militants from the group Islamic State released a video Tuesday that appeared to show the beheading of American journalist James Foley in an act of retribution for U.S. airstrikes on the group in Iraq.

  • Iceland Evacuates People Living Near Bardarbunga Volcano

    STOCKHOLM — Iceland's civil protection authority is evacuating people from the area surrounding the island country's Bardarbunga volcano as earth tremors raise fears of an impending eruption.

  • Luxottica Shares Fall Amid Fears That CEO Andrea Guerra May Leave

    MILAN—The world's largest eyewear company, Luxottica SpA, which owns brands including Ray-Ban and Oakley, saw its shares fall up to 6% on Wednesday amid speculation that Chief Executive Andrea Guerra could be about to leave his position ...

  • Companies, Schools Affected by Turmoil in Ferguson

    FERGUSON, Mo.—More than a week after the police shooting of an unarmed teenager, this St. Louis suburb is finding it harder to pick up the pieces following repeated nights of turmoil.

  • Demonstrators Remain Defiant During Calmer Night in Ferguson

    FERGUSON, Mo.—This strife-torn city prepares for the visit of Attorney General Eric Holder Wednesday after a night of comparative calm in the wake of more violent protests over the police shooting of an unarmed teenager.

  • Garbage Piles Up on Australia's Streets

    SYDNEY—Garbage is piling up on streets across Australia as a major company responsible for its collection investigates a fatal crash involving one of its waste-removal trucks.

  • Canada's Big Banks Seen Reporting Mixed Third-Quarter Results

    TORONTO--Canada's major banks begin reporting their fiscal third-quarter earnings this week and are expected to produce mixed results year-over-year amid middling loan growth and strong capital-markets activity.

  • Regulators Eye Variable Annuity Sales

    Responding to customers' complaints, some states are putting a spotlight on how financial advisers sell variable annuities—and the results aren't pretty.

  • No Rest for Protesters, Police in Divided Missouri City

    CIVIL UNREST: Conflict rose again Monday night in Ferguson as police confronted demonstrators. The National Guard arrived earlier in the day. »

  • Staples Pushes Turnaround Bid As Sales Fall Again

    Staples Inc. said its fiscal second-quarter profit and sales declined, while the struggling office-supplies retailer pushed ahead in its plans to close underperforming stores and spark sales growth online.

  • BP Hires Chief to Run its U.S. 'Lower 48' Onshore Business

    BP PLC said Wednesday that it hired David Lawler, an executive with U.S. independent petroleum producer Sandridge Energy Inc., to run a separate business unit it is creating for the U.S.'s lower 48 states.

  • Anthems Sung in a Patriotic Key

    The burning of the White House on Aug. 24, 1812, by British troops under the command of Maj. Gen. Robert Ross isn't an obvious candidate for national celebration. But the event, distressing as it was at the time, did have one silver lining. ...

  • Voices: Howard Hook, on Clients Who Own Too Many Assets

    Voices is an occasional column that allows wealth managers to address issues of interest to the advisory community. Howard Hook is a certified financial planner with EKS Associates in Princeton, N.J.

  • Russia Tensions May Hurt Norway Oil Fund Earnings

    OSLO—The effect on European equities of tensions between Russia and the West could pose a challenge to Norway's $890 billion sovereign-wealth fund, its chief executive said Wednesday.

  • Drone Maker Northrop Grumman Eyes Europe Orders

    Northrop Grumman Corp. is betting the introduction of high-altitude surveillance drones within the North Atlantic Treaty Organization will help trigger orders for dozens of such aircraft from European armed forces.

  • Macy's Reaches Settlement on Racial Profiling Allegations

    Macy's Inc. agreed to pay $650,000 in a settlement related to allegations of racial profiling at its New York stores.As part of the agreement, Macy's will designate an independent expert on anti-discrimination laws and racial-profiling ...

  • Europe to Launch New Generation Global Positioning Satellites

    LONDON—Europe on Thursday is slated to launch the first of a new generation of global-positioning satellites as it seeks to divorce itself from reliance on the Pentagon's GPS constellation that has become the backbone of global commerce.

  • Canada Wholesale Sales Rise

    OTTAWA—Wholesale sales in Canada advanced in June at a faster-than-expected pace on robust sales of agricultural supplies and building materials.

  • Iraq Military Launches Offensive to Reclaim Tikrit

    BAGHDAD—The Iraqi military launched a major air and ground offensive early Tuesday to reclaim Tikrit from Islamist militants, who had taken control of the city best known as the hometown of former dictator Saddam Hussein, officials said.

  • Malaysia Consumer Prices Rise at Slower Pace in July

    Malaysia's consumer prices rose at a slower pace in July despite festive season during the month, clouding the prospects for another interest rate increase this year.

  • Who Is Your Entrepreneurial Role Model

    Small-business owners often look up to other entrepreneurs who "made it" or those who have continued to run successful smaller operations. With this issue in mind, we asked The Experts: Who is your entrepreneurial role model?

  • Missing Chairman Complicates IPO

    HONG KONG—China International Capital Corp. has dropped CCB International (Holdings) Ltd. from the list of underwriters on its planned initial public offering after a company the bank floated early this year recently said its chairman had ...

  • How Expanding Businesses Can Keep Their Small-Company Culture

    The challenge for many companies is to simultaneously grow the business and still hold on to that family or team dynamic that was instrumental in getting the business off the ground. So we asked The Experts: How do you maintain your ...

  • Smucker Sales Fall 2% on Coffee Promotions

    J.M. Smucker Co. said its fiscal first-quarter sales fell 2%, hurt by increased promotions as its U.S. retail-coffee business.The company's results fell short of market expectations, and Smucker also issued a less optimistic sales outlook ...

  • Russia's Mobile TeleSystems Cuts 2014 Sales Forecast on Ukraine Crisis

    MOSCOW—Russia's leading telecoms operator said it has cut its forecast for revenue growth, citing disruption to its business in Ukraine after months of conflict there.

  • American Eagle Outfitters Profit Slides

    American Eagle Outfitters Inc. on Wednesday said its fiscal second-quarter earnings slid 70%, as the teen-apparel retailer's same-store sales slumped.

  • Bristol-Myers, Celgene to Collaborate on Cancer-Treatment Study

    Bristol-Myers Squibb Co. and Celgene Corp. have agreed to collaborate on a clinical study for a potential cancer treatment that will combine immunotherapy and chemotherapy, the companies said Wednesday.

  • U.S. Official Seeks Japan's Help on Russia Sanctions

    TOKYO—A U.S. Treasury Department official called on Tokyo to cooperate fully with U.S. and European sanctions on Russia, saying Japanese companies shouldn't seek to grab business left behind by Western rivals.

  • Operating Expenses Bite Into MSG Profit

    Madison Square Garden Co. said its fiscal fourth-quarter profit fell 67% as sharply higher operating expenses masked an increase in revenue.

  • Germany to Send Military Equipment to Iraq

    BERLIN—Germany is prepared to arm Kurdish troops fighting Islamist insurgents and it will begin delivering non-lethal equipment to Iraq in coming days, the defense minister said.

  • What's News: World-Wide

    The U.S. military is considering new airstrikes to prevent Islamic State from taking control of a strategic dam in Iraq's Sunni stronghold.The Iraqi military launched a major air and ground offensive in a bid to reclaim Tikrit, which fell ...

  • What's News: Business & Finance

    A forecasting error in Walgreen's Medicare-related business has cost the jobs of two top executives and alarmed big investors.BHP plans to spin off nickel, aluminum and other properties, in what would be one of the biggest asset sales in ...

  • Amicus Therapeutics' Fabry Treatment Meets Primary Endpoints

    Amicus Therapeutics said Wednesday that a potential treatment for Fabry disease reached its primary endpoints in a late stage study.Shares of the company rose as much as 40% in premarket trading as the company said it would move forward ...

  • The 10-Point.

    Good morning,The Gaza conflict has brought the armed wing of Hamas out of the shadows. Our story chronicles the lives of two Qassam Brigade fighters, from their decision to join the guerrilla army to their final hours with their families. ...

  • Fortescue Plans to Repay Debt as Profit Jumps

    SYDNEY—Fortescue Metals Group Ltd. said it hoped to repay as much as US$1.5 billion of debt within the next year, after a sharp rise in iron-ore output from its Pilbara mines fueled a 56% jump in annual profit.

  • IFC to Raise $2.5 Billion Via Rupee Bonds, Swaps in India

    NEW DELHI--The International Finance Corp., the private financing arm of the World Bank Group, said Wednesday that it will raise $2.5 billion by selling rupee-denominated bonds and swaps in India over the next five years.

  • Germany Pays No Return at Debt Auction

    FRANKFURT—Germany paid no return at an auction Wednesday of a new series of two-year debt, in a sign that the search for havens remains a priority for investors.

  • Fortescue Remains Chained to Its Ore

    The thing with commodity companies is that the commodity often matters more than the company.Investors should remember this about Fortescue Metals Group, the world's fourth-largest exporter of iron ore. On Wednesday, the Australian miner ...

  • Asian Shares Mixed Ahead of Fed Meeting

    Asian stocks finished mixed Wednesday, with Hong Kong's Hang Seng gaining again ahead of a U.S. Federal Reserve meeting and data on Chinese manufacturing activity.

  • Dutch MH17 Investigators Seek Return to Ukraine Crash Site

    AMSTERDAM—Air accident investigators probing the downing of Malaysia Airlines Flight 17 said Wednesday they will try to return to the crash site if the security situation in eastern Ukraine were to improve again.

  • Dubai International Financial Center Chief Executive Resigns

    DUBAI—Jeff Singer, the chief executive of the Dubai International Financial Center, or DIFC, said on Wednesday he has resigned with immediate effect.

  • Industrial Sentiment Improves Again in Post-Coup Thailand

    BANGKOK—Industrial sentiment in Thailand rose for a third straight month in July as the military government's economic plans became more clear.

  • Citigroup Considers Sale of Retail-Banking Business in Japan

    Citigroup Inc. is considering whether to pull out of retail banking in Japan, said people familiar with the matter, as the New York lender rethinks its global operations after a string of regulatory problems in the U.S. and abroad.

  • Youku Streams Problems Alibaba's Way

    Alibaba's entertainment investments are creating an awful lot of static.After it disclosed possible accounting issues last week at its recently acquired film studio, news came Wednesday that Alibaba's big bet on streaming video has stumbled ...

  • Bank of China Meets European Fund Managers

    One of China's big four banks has met with European investors as part of its early efforts to sell billions of dollars in shares, according to people familiar with the matter, signaling the lengths Chinese lenders are going to as part of a ...

  • Atos Takes Control of French Rival Bull

    PARIS—French IT services company Atos SE said Wednesday it had completed the takeover of its smaller rival Bull SA after securing 84.25% of its shares in a tender offer earlier this month.

  • German Producer Prices Decline

    FRANKFURT--Factory-gate prices in Germany fell more than expected in July as energy prices continued to depress the index, suggesting further downside risks to the inflation outlook, data from the country's statistics office showed ...

  • Heineken First-Half Net Profit Falls 1.3%

    AMSTERDAM-Heineken NV Wednesday reported a 1.3% drop in net profit for the first six months of the year as currency movements and divestments weighed on sales, while it expects organic growth to moderate in the second half of the year.

  • Carter Blast in Ninth Sends Astros Over Yankees

    Chris Carter, the Houston Astros' free-swinging strongman, leads the American League in strikeouts, and the all-or-nothing first baseman had already struck out four times heading into the ninth inning Tuesday night in the Bronx. Yankee ...

  • National Guard Bolsters Police in Divided Missouri Town

    CIVIL UNREST: Members of the Missouri National Guard arrived Monday at the Missouri Highway Patrol command center in Ferguson. »

  • Neptune Orient Lines Mulls Sale, IPO Of Logistics Business

    SINGAPORE—Container shipper Neptune Orient Lines Ltd. is seeking to sell its profitable logistics business, as the Singapore company struggles with falling freight rates and an industrywide glut of ships.

  • Indiana Drops Common Core

    Indiana's governor on Monday signed legislation withdrawing the state from the Common Core, making it the first to officially dump math and reading standards that have been adopted by nearly all the states.

  • Argentina Moves to Pay Exchange Bondholders In Argentina

    BUENOS AIRES—Three weeks after defaulting on its debt, Argentina moved to circumvent a U.S. court order by offering a bond swap that would let it pay bondholders in Argentina instead of in the U.S.

  • Common Core Has Less Support in Poll

    Public support for the Common Core educational standards is waning, according to an annual poll about public schools by Gallup and PDK International, a group for education professionals.

  • What's News—

    Business & FinanceGoogle is transforming its business and the notion of search through a richer offering of information and services that has some advertisers wishing it was still largely a Web index.

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