Brazil's Vale 2nd-Quarter Results Seen Suffering From Global Crisis
Brazilian mining company Vale SA (VALE, VALE5.BR), the world's biggest producer and exporter of iron ore, is expected to report that profits and revenue declined in the second quarter as iron-ore prices suffered from the global economic crisis.
Bank of America to Offer Chip Technology for Credit Cards
Bank of America Corp. (BAC) is throwing its muscle behind a credit-card technology aimed at cutting down on hassles U.S. cardholders may encounter when trying to make purchases while traveling abroad.
Fairfax's Watsa Raises RIM Stake to Nearly 10%
Canadian investor Prem Watsa, dubbed the "Warren Buffett of the North," has nearly doubled his company's stake in embattled BlackBerry maker RIM to just under 10%, according to a regulatory filing.
NRG Energy, GenOn Shares Up on Merger Deal
NRG Energy Inc.'s (NRG) plan to acquire rival GenOn Energy Inc. (GEN) in a $1.7 billion all-stock deal appeared to resonate with investors Monday, as both companies' shares rallied despite a broad downturn in U.S. stocks.
Five Cases of Illness in U.S. Tied to Cargill Salmonella-Tainted Beef
Five people have gotten sick from eating salmonella-contaminated ground beef linked to meat from a Pennsylvania plant owned by Cargill Inc., one of the largest U.S. meat-packing companies, according to the U.S. Department of Agriculture.
Caterpillar to Sell Bucyrus Distribution Business in Quebec
Caterpillar Inc. (CAT) has agreed to sell a distribution-and-support business to Hewitt Equipment Ltd. in the province of Quebec, Western Labrador and the Maritimes, as the company continues to shed distribution units from Bucyrus, which it acquired last year.
Force Majeure on Angolan Girassol Crude Lifted
A force majeure on exports of Angolan Girassol crude has been lifted and production is set to be fully restored in the coming days, French oil company Total SA (TOT, FP.FR) said Monday.
J.C. Penney Can Reap More From Asset Sale: Analyst
J.C. Penney Co. shares rose almost 1% in afternoon trading on Monday, a rare bright spot in a downbeat market, after the company said Simon Property Group has redeemed 2 million units of limited partnership interest in an operating subsidiary from Penney for $248 million. Penney said the deal
Total Confirms Force Majeure Declared at Girassol But Now Over
French oil company Total SA (TOT) said Monday that a "force majeure" situation declared at its Girassol site, off the coast of Angola, is now over and production is set to be fully restored in the coming days.