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Company News

 American Appetite
The New York Times, August 1, 2014 Friday

 Alibaba Group, the Chinese Internet retailer, is coming to America with its checkbook wide open. In March, Alibaba made a $215 million investment in Tango, a messaging app. It recently contacted Snapchat, another messaging app that this year turned down a $3 billion acquisition offer from Facebook, about making a big investment that would value the young company at $10 billion. There's more: Alibaba participated in a $170 million round for Fanatics, an online sports memorabilia retailer. And on...
 Weak Links in China's Food Chain
The New York Times, August 1, 2014 Friday

 When McDonald's opened its first restaurant in China in the early 1990s, it did not turn to local suppliers for meat, which most likely would have been cheaper. Instead, it relied on its longtime partner the OSI Group, which had been linked to the fast-food titan ever since Ray Kroc, the McDonald's founder, in the 1950s tapped the Chicago butcher Otto & Sons to provide consistent, reliable meats to his expanding empire. As McDonald's grew, so did OSI, quietly developing a sterling reputation...
 Questions About Pipelines and Private Property
The New York Times, August 1, 2014 Friday

 Amid an oil and gas boom that has increased demand for new pipelines, Texas regulators have proposed new rules that have renewed a clash between two major state interests: energy development and private property rights.
 An Upstart French Telecom Company Bids $15 Billion for a Majority Stake in T-Mobile US
The New York Times, August 1, 2014 Friday

 Updated, 8:14 p.m. | Sprint and T-Mobile US have been slowly dancing toward a $32 billion merger of the third- and fourth-largest cellphone operators in the United States. Now a French upstart wants to break in on the cozy couple. Iliad, France's fourth-biggest mobile company, said on Thursday that it had made a $15 billion bid for a majority stake in T-Mobile US, a company that is roughly 60 percent bigger than it in market value.
 Tesla and Panasonic Agree to Build Factory in U.S.
The New York Times, August 1, 2014 Friday

 Tesla Motors announced on Thursday that it had an agreement with Panasonic to build a large-scale battery plant in the United States. Hours after the deal, the company said its losses grew in the second quarter to nearly $62 million, or 50 cents a share, from $30.5 million in the year-ago quarter. But adjusted earnings were 11 cents a share, 7 cents higher than analysts estimated. The planned factory will produce batteries for Tesla's all-electric vehicles, as well as modules for the stationary...
 After a Series of Setbacks, Target Chooses an Outsider as C.E.O. for the First Time
The New York Times, August 1, 2014 Friday

 Coming off a series of setbacks, Target named a new chief executive on Thursday, bringing in an outsider to lead the company for the first time as it looked to right itself. The move casts aside Target's longstanding custom of promoting top executives from within the company. The new chief, Brian Cornell, will help the company continue to address the damage done by last year's extensive breach of customer information and cope with problems like the disappointing expansion into Canada and the...
 Samsung's Profit Suffers as Smartphone Competition Stiffens
The New York Times, August 1, 2014 Friday

 SEOUL, South Korea -- Samsung Electronics on Thursday reported its worst quarterly profit in two years and flagged uncertain earnings prospects for its handset business, propelling worries about its ability to return to growth. The guidance, as well as Samsung's decision to keep its interim dividend unchanged from last year, sent shares of the company, South Korea's biggest by market value, down 3.7 percent. For the quarter ended in June, Samsung said operating profit fell 24.6 percent from the...
 Shell, ENI and BG Report Strong Earnings
The New York Times, August 1, 2014 Friday

 LONDON -- Royal Dutch Shell said on Thursday that profit for the second quarter rose 206 percent to $5.3 billion, reflecting gains from asset sales under its new chief executive, Ben van Beurden, as well as improved performance in exploration and production. Eni of Italy and the British oil and gas company BG Group also on Thursday reported improved earnings.
 Judge Rules for Seizure of Emails Kept Abroad
The New York Times, August 1, 2014 Friday

 Updated, 8:38 p.m. | Microsoft has suffered a setback in its efforts to block federal prosecutors from seizing a customer's data that is stored overseas.
 Exxon Reports Strong Profit, Despite Drop in Production
The New York Times, August 1, 2014 Friday

 Exxon Mobil, the world's largest publicly traded oil company, reported a stronger-than-expected quarterly profit on Thursday as higher prices for its crude oil and natural gas offset a 6 percent drop in production.
 Johnson & Johnson Praised for Taking Uterine Surgery Tools Off Market
The New York Times, August 1, 2014 Friday

 Johnson & Johnson, which has come under withering criticism for its response to problems with some of its medical devices, won cautious praise from critics on Thursday for its decision to withdraw three products used in uterine surgery because of a risk of spreading cancerous tissue, only months after the safety issue became widely known. Some experts continued to debate the medical value of the devices. A handful of other, smaller companies sell similar products.
 Delay in Payments
The New York Times, August 1, 2014 Friday

 Lenders to Puerto Rico's electric power authority are giving the beleaguered utility another two weeks before it has to make past-due payments on its lines of credit.
 Inquiry Reveals Flaws in Training of Con Ed Workers
The New York Times, August 1, 2014 Friday

 Federal investigators have not yet announced the cause of a powerful explosion that leveled two buildings and killed eight people in East Harlem in March. But a follow-up inquiry by state regulators has exposed flaws in how Consolidated Edison trained workers who install the vast network of plastic pipes that carry natural gas under New York City's streets. Con Edison admitted this week that most of the 525 people it had trained since 2009 to connect sections of gas mains made of plastic had...
 Wheelies: The Payload Policy Edition
The New York Times, August 1, 2014 Friday

 A roundup of motoring news from the web: â–  General Motors has joined Ford in the practice of removing heavy items like rear bumpers from its trucks when calculating their total payload capability, the automaker told Automotive News in an email Wednesday. Chrysler's Ram brand and Toyota use unmodified curb weights to calculate payload capacity, and although G.M. said in a recent Automotive News article that it used the same method, Tom Wilkinson, a spokesman for the automaker, said this week...
 Target aims to move past hack with new chief; Brian Cornell, former PepsiCo head, says he will focus on merging company's platforms.
Los Angeles Times, August 1, 2014 Friday

 Target Corp. has named a new chief executive and chairman to shepherd the retailer beyond a massive data-hacking incident that marred its last holiday season. The nation's third-largest retailer announced Thursday that Brian Cornell, who most recently served as an executive at PepsiCo, will come aboard Aug. 12. He will replace John Mulligan, who has been interim chief executive since May.
 French company Iliad bidding for T-Mobile US
Los Angeles Times, August 1, 2014 Friday

 T-Mobile US Inc. has another suitor. Upstart French telecom company Iliad on Thursday said it has offered $15 billion for a majority stake in the fourth-largest U.S. cellphone company.
 IPAD APP
The Washington Post, August 1, 2014 Friday

Washington Post iPad app The Washington Post has rolled out a version of our flagship iPad app. With a richly designed reading experience, we're bringing you a replica of the printed newspaper, along with a 14-day archive, more than 40 comic strips, all Post blogs and real-time social media. The app gives you video, photo galleries, new search functionality and offline reading. Find it in the App Store.
 How Target's new chief can succeedas an outsider
The Washington Post, August 1, 2014 Friday

 When Target announced in May that its former chief executive, Gregg Steinhafel, was departing, many predicted the retailer would look outside its red-clad, bull's-eye-covered walls for its next chief executive. And Thursday morning, Target did just that, naming to the top job PepsiCo executive Brian Cornell, who has also led Wal-Mart's Sam's Club division and hobby retailer Michaels Stores. Target has never had an external chief executive - Cornell will be a first for the Minneapolis company,...
 Express Scripts reports lower 2Q profit as prescription volume falls
St. Louis Post-Dispatch (Missouri), July 30, 2014 Wednesday

 Express Scripts Holding Co., the nation's largest pharmacy benefit manager, reported lower profit in the second quarter as its volume of filled prescriptions continued to decline.
 Hyundai, Kawasaki set recalls
The Boston Globe, July 31, 2014 Thursday

 DETROIT — Hyundai is recalling its popular Sonata midsize sedan to fix problems with the gear shift levers. The recall covers 883,000 cars from the 2011 through 2014 model years.
 CVS bid to curb store is on hold; Pharmacy's lawsuit hits Caremark order
The Boston Globe, July 31, 2014 Thursday

 Hopkinton Drug, the town's only pharmacy, has filed a federal lawsuit alleging industry giant CVS Caremark is trying to damage its business so it can enter the local market. The lawsuit, filed June 30, protests the decision by CVS to end an agreement that enabled Hopkinton Drug to fill prescriptions for customers whose pharmacy insurance benefits are administered through CVS Caremark. CVS says it ended the agreement because of a licensing issue, and not to break into the Hopkinton market.
 AstraZeneca buying slate of drugs
The Boston Globe, July 31, 2014 Thursday

 LONDON — AstraZeneca of Britain said Wednesday that it had agreed to pay up to $2.1 billion for a slate of respiratory drugs from the Spanish drug maker Almirall.
 AMC in Talks to Partly Own BBC America
The New York Times, July 31, 2014 Thursday

 AMC Networks, the home of AMC, SundanceTV and IFC channels, is in talks to acquire close to a 50 percent stake in BBC America, the United States television network owned by the commercial arm of the BBC, according to people briefed on the discussions. The transaction would bring together two television groups that target more affluent audiences and have worked together on a number of projects in recent years, including ''The Honorable Woman,'' a dramatic series starring Maggie Gyllenhaal, and...
 Nordstrom Buying a Website for Men's Wear
The New York Times, July 31, 2014 Thursday

 ''Guys hate shopping,'' said Brian Spaly, the chief executive of Trunk Club, a shopping website for men, ''but love to look good.'' As retailers have come up with new ways to target men, Nordstrom has been riding the wave. It plans to announce on Thursday that it has agreed to purchase Trunk Club, a five-year old website that sells about 100 brands of men's apparel, for an undisclosed amount. It is the latest sign that men are not the only ones taking their sartorial habits seriously. ''It's...
 Energy Companies Rethinking Russia After New Round of Sanctions
The New York Times, July 31, 2014 Thursday

 LONDON -- The downing of Malaysia Airlines Flight 17 over eastern Ukraine -- and the tougher round of sanctions against Russia that followed -- is prompting some big multinational energy companies to take a fresh look at the ramifications of the crisis. For months, American and European energy players have continued to sign deals with Russia, maintaining a posture that business was proceeding as usual. But top industry executives are now starting to acknowledge that the escalating tensions...
    

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