Finance News

Bristol-Myers Tops Quarterly Forecasts

Bristol-Myers Squibb Co. on Friday reported third-quarter profit of $721 million.

Ford Quarterly Profit Falls on Truck Costs

Ford’s new aluminum-sided F-150 will be a lot lighter and more efficient when it goes on sale later this year. But for now it’s a serious drag on profits.

Procter & Gamble Taking Out Its Batteries

Procter & Gamble plans to remove its batteries and make Duracell a stand-alone company.

UPS Expects Double-Digit Surge in December Shipments

UPS is expecting an 11 percent jump in December shipments as the holiday shopping season heats up.

Chiquita Shareholders Reject Merger Plan

Chiquita shareholders have rejected plans to merge with Irish fruit importer Fyffes that would have made the world’s largest banana supplier.

ECB to Fail 25 Banks in Review, Draft Document Shows

By Patrick Henry |

The European Central Bank is set to fail 25 institutions as part of their euro-area bank health check, while 105 firms are said to have passed the comprehensive assessment.

Amazon's Loss Makes Holidays a Question Mark

By Mae Anderson |

Investors are increasingly irked by Amazon's strategy of investing heavily in new products and services to spur revenue growth while reporting quarter after quarter of losses or thin profit.

Shakira Makes Toy Deal With Fisher-Price

Shakira is partnering with Fisher-Price to launch a line of baby toys as well as a Web series for moms.

Revel casino and hotel, Atlantic city

Casino Spiral Is Seen in Sale's Junk-Like Yield

By Brian Chappatta and Elise Young |

Investors demanded yields typical of junk-rated debt to buy investment-grade bonds backed by luxury taxes in Atlantic City in a sign of the cost of the seaside community's downward financial spiral.

Richard Shelby

Consumer Unit Born of 2008 Crisis Would Be Shelby Target

By Cheyenne Hopkins |

A Republican takeover of the U.S. Senate would be a case of back to the future for the Banking Committee, where Richard Shelby of Alabama is in line to assume the helm.

Fed's Loan Scrutiny Leaves Banks Passing on Buyouts

By Christine Idzelis and Alex Sherman |

Heightened U.S. regulatory scrutiny of leveraged lending is leading the biggest banks to back away from funding some takeovers financed by debt, creating an opportunity for smaller competitors to step in.

Royal Caribbean Tops Net Income Expectations

Miami-based Royal Caribbean Cruises Ltd. reported earnings of $490.2 million in its third quarter.

Dimon: Cancer Hasn't Changed My JPMorgan Plans

JPMorgan Chase & Co. CEO Jamie Dimon said cancer hasn't altered his plans to keep working even as he looks toward a retirement that he hopes will include philanthropy and teaching.

Official: Banks Must Improve Culture or Be Broken Up

William C. Dudley, president and CEO of the Federal Reserve Bank of New York said that if bad behavior persists, "the inevitable conclusion will be reached that your firms are too big and complex to manage effectively."

FANNIE MAE

Fannie-Freddie Clarify Buyback Rules to Help Ease Credit

Fannie Mae and Freddie Mac will spell out when they will force lenders to buy back loans that were issued based on false or inaccurate information.

Charter Schools Borrow at Record Pace Led by Texas

The institutions, privately run with public funding, have sold $1.6 billion of securities in 2014.

Skyrise rendering

All Private Development? Not So Fast! Miami's Skyrise Wants Public County Funds

By Eleazar David Melendez |

A towering downtown Miami tourist attraction wants to get off the ground with $9 million in funding from Miami-Dade County--after previously promising a strictly private development.

Judge Nixes $83M Settlement With Developers of Failed Fontainebleau Las Vegas

By John Pacenti |

A federal bankruptcy judge in Miami rejected the proposal, partly because it would have protected Aventura's Soffer family from other recovery efforts by contractors on the unfinished project.

Protest for the legalization of medical marijuana

In Debate Over Medical Marijuana, Some See Dollars

Thousands have attended workshops about how to start medical marijuana businesses.

Florida Gov. Rick Scott

Economic Malaise Clouds Florida Governor's Race

By many measures, Republican Rick Scott should have a strong case for a second term as governor. But along a stretch of central Florida, a crucial swing-voting area, middle-class voters are seeing a tepid economic turnaround.

Blackstone Adds Luxury-Jet Finance in $280B Market

Blackstone Group is starting a new fund to provide loans for a luxury-jet market projected to reach $280 billion over the next decade.