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Money & Markets

DuPont, Dow Chemical seek merger, then 3-way split

DOVER, Del. - Dow Chemical and DuPont are merging to form a company valued at about $130 billion as they try to counter falling commodities prices and weakness in some key markets that have pressured their giant agriculture and chemicals businesses.The two companies, whose research has brought ...

Regulators want details about Walgreens-Rite Aid deal

The Federal Trade Commission wants more information about Walgreens' $9.41-billion plan to buy rival drugstore chain Rite Aid, a sign that regulators may be concerned about the deal's impact on competition.Walgreens said Friday that it fielded a request for additional information beyond what ...

Obama, Congress avert fed shutdown

WASHINGTON - Avoiding the high drama of recent year-end budget fights, President Barack Obama signed legislation Friday keeping government agencies open into next week, giving White House and congressional bargainers more time to complete sweeping deals on taxes and federal spending.Facing a ...

Bridgestone inks deal to buy Pep Boys for $863M

Pep Boys has agreed to be acquired by Bridgestone for $863 million in cash after the tires and auto service company sweetened its offer following a bid from Carl Icahn's investment firm.Bridgestone and Pep Boys said late Friday that the new offer amounts to $15.50 for each Pep Boys share, an ...

Congress in final-stage talks on massive budget, tax bills

WASHINGTON - With the holidays beckoning, negotiations intensified on Capitol Hill Thursday on a $1.1 trillion government-wide spending bill and a sprawling tax package touching all sectors of the economy.Dozens of issues remained unresolved, mainly policy disputes over environmental and other ...

Can trading pollution like stocks fight climate change?

NEW YORK - The gas produced by hog manure at farms across the U.S. punches holes in the ozone layer, overheats the planet, and angers neighbors with its peculiar odor, a mix of rotten egg and ammonia.All that's needed to clear the air is to cover the manure with a system of tarps that captures ...

Wal-Mart to launch own mobile pay system

NEW YORK - The mobile payment wars are heating up.Wal-Mart Stores Inc., the world's largest retailer, said it's launching its own mobile payment system that will allow shoppers to pay with any major credit or debit card or its own store gift card through its existing smartphone app at the cash ...

Ford plans 13 electrified vehicles by 2020

DEARBORN, Mich. - Ford Motor Co. says it will introduce 13 new electrified vehicles worldwide by 2020, including an updated Focus sedan that will go on sale late next year. The new Focus will have fast-charging capability and an estimated 100-mile range, up from 76 miles in the current electric ...

Yahoo’s new plan: Spin off itself, not its Alibaba stake

SAN FRANCISCO - Internet pioneer Yahoo, under pressure from unhappy shareholders and desperate to avoid a huge investment-related tax bill, will break itself apart - just not in the way it had previously planned.The company will now aim to spin off its struggling Internet business - ...

Australia police raid home of man said to be bitcoin founder

SYDNEY - Australian police on Wednesday raided the home and business premises of a man that technology news sites have claimed is the founder of virtual currency bitcoin.A statement from the Australian Federal Police said the searches were related to a tax investigation and not recent media ...

Judge expands scope of Uber lawsuit

SAN FRANCISCO - A federal judge Wednesday increased the number of drivers eligible to join a lawsuit against ride-hailing company Uber alleging they were incorrectly classified as independent contractors when they were actually employees. U.S. District Court Judge Edward Chen in San Francisco ...

DuPont, Dow soar on reports of merger talks

DOVER, Del. - Shares of Dow Chemical and DuPont climbed Wednesday amid reports that the two chemical giants are in advanced merger discussions.The Wall Street Journal reported Tuesday that the companies were planning to merge and then split into three companies focused on agriculture, specialty ...

US job openings slip in October; hiring, quits rise

WASHINGTON - U.S. employers advertised fewer jobs in October, though overall hiring picked up and quits rose slightly, adding to evidence the job market is slowly improving.The number of job postings fell 2.7 percent to a still-healthy 5.4 million in October compared with the previous month, ...

FAA approval near, Honda’s business jet about to hit market

RALEIGH, N.C. - Nearly 30 years after Honda's founder started developing the product and after more than a dozen years of testing, the company best known for its cars and motorcycles is about to start delivering its first aircraft.The Japan-based company this week is expected to receive a ...

Mining in chaos as Anglo American drops 85K jobs

LONDON - The decision by a London-based mining company to shed 85,000 jobs is the sign of a global industry in crisis, with conglomerates reassessing their huge operations to cope with a drop in demand from Chinese factories for metals and other raw materials.Anglo American said Tuesday it will ...

80 sickened after eating at Chipotle

BOSTON - Boston College said Tuesday the number of students complaining of gastrointestinal symptoms after eating at a Chipotle this weekend has climbed to 80, up from the 30 it reported the previous day. The illnesses prompted the temporary closure of the suspect Chipotle restaurant.

GOP seeks curbs in environmental agenda in Obama’s budget bill

WASHINGTON - Congressional Republicans are pressing for an end to the four-decade ban on exporting crude oil and further curbs on President Barack Obama's environmental agenda as part of a sweeping $1.1 trillion spending bill.Days from a Friday midnight deadline, progress has proven elusive for ...

US consumer credit rises $16 billion in October

WASHINGTON - U.S. consumers borrowed more heavily for auto and student loans in October, taking out debt that helps them find jobs and commute to work.The Federal Reserve said Monday that consumer borrowing rose $16 billion in October to $3.5 trillion. But the pace of borrowing decelerated ...

Regulators move to stop Staples’ deal with Office Depot

NEW YORK - The Federal Trade Commission said Monday that it is seeking to block the proposed combination of Staples and Office Depot because the deal would reduce competition in the office supplies market. The companies said they plan to fight to preserve the deal.Shares of the two office ...

GE scraps $3.3 billion unit sale to Electrolux

GE has scrapped a $3.3 billion plan to sell its home appliance business to the Swedish company Electrolux, a deal opposed by U.S. regulators over concerns about competition.The Fairfield, Connecticut, conglomerate said that it will continue to run the business as it looks for other options to ...