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Economy

McKesson will buy PSS World Medical for $1.46B
Prescription drug distributor McKesson Corp. is expanding its medical supplies business by buying PSS World Medical Inc. for about $1.46 billion.
Finland's Amer posts flat Q3 profit
Global sports equipment maker Amer Sports Corp., owner of brands such as Atomic, Salomon and Wilson, has posted virtually unchanged third-quarter ...
Strikes dent Hyundai Motor's 3Q profit
Hyundai Motor Co. suffered a fall in third-quarter profit from the previous quarter after strikes dented vehicle production, but its stock jumped ...
UK recession over as economy grows 1 pct in Q3
Britain's economy emerged from its nine-month recession in the July to September quarter, when spending on the Olympics helped it grow by a bigger ...
Gold now top conflict mineral in Congo: Report
Gold is now the primary source of income for armed groups in eastern Congo, and is ending up in jewelry stores across the world, according to a report ...
Passengers bump up Q3 profits for Norwegian
Norwegian Air Shuttle, one of Europe's fastest-growing airlines, has posted a 27 percent increase in third-quarter net profits on the back of a ...
Credit Suisse to cut costs after Q3 profit slump
Credit Suisse Group said Thursday it would boost its cost-cutting program as it posted a 63 percent fall in third-quarter profit following an ...
Novartis defends flu drugs, posts flat Q3 profits
Swiss pharmaceutical giant Novartis AG defended a range of flu drugs that have been banned in Italy, while posting virtually flat third quarter ...
Sanofi earns slump in Q3 as competition heats up
Sanofi saw its earnings slump in the third quarter as generic competitors ate into profits of its Eloxatin cancer treatment. The French drug maker ...
Ex-Goldman exec's 2-year sentence draws scrutiny
A two-year prison sentence for insider trading at the height of the 2008 economic crisis, by a man who was once one of the nation's most respected ...
Loss of exclusive drug dents AstraZeneca's Q3
Anglo-Swedish pharmaceutical company AstraZeneca has reported a 56 percent drop in net income in the third quarter as it suffered from the loss of ...
Texas troubles weigh on chemicals firm BASF in Q3
BASF SE saw third-quarter profits fall 21 percent as its chemicals business suffered from lower demand, as well as from troubles at a key Texas ...
Developing markets give Unilever a Q3 sales boost
Consumer goods maker Unilever PLC says strong growth in developing markets helped its sales rise a better-than-expected 10.3 percent to €13.4 billion ...
Zynga posts 3Q loss, shares jump after-hours
Battered shares of Zynga Inc. soared in after-hours trading Wednesday after the social gaming company posted stronger-than-expected revenue for the ...
Ex-Goldman exec given 2 years for inside trades
A former Goldman Sachs and Procter & Gamble Co. board member was sentenced to two years in prison Wednesday, culminating a spectacular fall from grace ...
Corning may make job cuts as part of cost cuts
Corning said Wednesday that it will likely cut costs, which may include "modest" job cuts, to support profit in a weakening economy. It's the latest ...
US Airways posts record 3Q profit
US Airways turned in a strong performance during a three-month stretch that covers much of the peak summer vacation season. Net income for the third ...
Boeing benefits from faster airplane deliveries
Boeing is cranking out planes faster, and it's paying off. The big U.S. aerospace company is on track to meet delivery targets for the year, and on ...
Wynn Resorts' 3Q profit falls on expenses
Wynn Resorts Ltd.'s profit fell nearly 12 percent in the third quarter, as a debt-related loss boosted expenses for the casino operator. Even so, the ...
Delta 3Q profit surges on fuel gains
Delta Air Lines reported a billion-dollar third-quarter profit and said demand is holding up well. The world's second-largest airline posted net ...
Best Buy falls on 3Q outlook, 2 execs leaving
Best Buy said Wednesday two executives, including its U.S. president, are leaving the company as it eliminates the most senior level of its U.S.
AT&T sees fewer new customers in 3Q
The flow of customers into AT&T's wireless stores slowed further in the latest quarter, putting the company far behind rival Verizon Wireless.
Georgia store offers gun raffle tickets to voters
Want a chance to win a rifle or handgun? Go vote. That's the message from an Atlanta-area sporting goods store. The promotion caught the attention of ...
US suit alleges 'brazen' fraud at Countrywide
The latest federal lawsuit over alleged mortgage fraud paints an unflattering picture of a doomed lender: Executives at Countrywide Financial urged ...
Facebook shares post biggest single-day gain
Facebook's stock gained the most in a single day Wednesday since it began trading in May, a sign that the social media company's complicated ...