Business

Northrop Grumman to buy aerospace manufacturer Orbital ATK

BZ 062817 Erica Sandoval ATK 01

Northrop Grumman, one of the nation’s largest defense contractors, announced on Monday that...

Business

Toys R Us joins bankruptcy list as Amazon exerts influence

Toys R Us

NEW YORK (AP) — In filing for bankruptcy, Toys R Us joins a list of dozens of store chains that have done so already this year as online leader Amazon increasingly exerts its influence over a huge part of the retailing world. The toy chain, hobbled by $5 billion in debt and more intense competition,...


Business

AP Exclusive: Evidence of spills at toxic site during floods

Harvey Toxic Sites Underwater

PASADENA, Texas (AP) — The U.S. government received reports of three spills at one of Houston’s dirtiest Superfund toxic waste sites in the days after the drenching rains from Hurricane Harvey finally stopped. Aerial photos reviewed by The Associated Press show dark-colored water surrounding the...


Business

The Finance 202: Obama Wall Street speeches fail to spark Democratic outrage

(c) 2017, The Washington Post. Former President Barack Obama, it turns out, has wasted no time hopping on the Wall Street gravy train. As Max Abelson of Bloomberg News reported Monday, Obama earned $400,000 last month for a speech to New York clients of Northern Trust Corp., an undisclosed sum for...


Business

Bain, KKR, Vornado suffer wipeout in Toys `R' Us bankruptcy

(c) 2017, Bloomberg. Bain Capital, KKR & Co. and Vornado Realty Trust stand to have their Toys “R” Us Inc. investment erased as the retailer they bought in 2005 for $7.5 billion seeks bankruptcy protection. The three firms and their co-investors sank $1.3 billion of equity into the takeover of the...


Business

US stocks edge higher in afternoon trading; oil prices slide

Financial Markets Wall Street

Banks, insurers and other financial companies led U.S. stocks slightly higher in afternoon trading Tuesday, adding to modest gains from the day before. Technology stocks also helped lift the market, while health care companies lagged the most. Crude oil prices headed lower, giving up early gains....


Business

Senate panel cancels private interview with Trump lawyer

Trump Russia Probe

WASHINGTON (AP) — A scheduled private meeting between President Donald Trump’s personal lawyer and Senate committee staff was abruptly canceled on Tuesday amid a dispute over a public statement he issued before the meeting. Senate intelligence committee leaders said they called off the closed-door...


Business

Equifax's top security exec made some big mistakes. Studying music wasn't one of them.

(c) 2017, The Washington Post. On Friday, Equifax’s chief security officer Susan Mauldin stepped down from her post amid widespread criticism that her company didn’t do enough to prevent its massive data breach. Internet sleuths dutifully began digging into Mauldin’s past - and uncovered what...


Business

Sprint, T-Mobile said to hash out terms to bring deal closer

(c) 2017, Bloomberg. Sprint and T-Mobile US, in preliminary deal talks since at least August, agreed that Deutsche Telekom would have control in a combination of the two companies, said a person with direct knowledge of the matter. The mobile operators are discussing a stock-for-stock merger,...


Business

Twitter suspends 300,000 accounts tied to terrorism in 2017

(c) 2017, Bloomberg. Twitter Inc., under pressure from governments around the world to combat online extremism, said that improving automation tools are helping block accounts that promote terrorism and violence. In the first half of the year, Twitter said it suspended nearly 300,000 accounts...


Business

Far from the Texas coast, Hurricane Harvey hits oil refiners

(c) 2017, Bloomberg. Three weeks after Hurricane Harvey ravaged the massive fuel-making industry along the Texas coast, the region’s recovery from storm damage is starting to disrupt plans for crucial maintenance at refineries thousands of miles away from the flood zones. Harvey knocked out almost...


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