Italy's Recession Pain Stretches to a Year
Italy has been the eurozone's most sluggish economy for more than a decade and it shrank further into recession in the second quarter for a 2.5% yearly decline.
CVS Caremark Reports $966M Profit, Riases Full-Year View
CVS posted an 18% increase quarterly profit and raised its forecast for the year as it continued to see a lift in sales due in part to an impasse between its main drugstore rival, Walgreen and Express Scripts.
InterContinental to Return $1B From Hotel Sales
The world's biggest hotelier said it will pay a special dividend in the fourth quarter costing $500 million, and also kick off a $500 million share buyback in the same three months.
Citi May take $6B Charge on MSSB Valuation
The third-largest U.S. bank said last month that Morgan Stanley estimates the business, known as Morgan Stanley Smith Barney, is worth less than half as much Citi values it.
Molson Coors Profit Declines on Acquisition Costs
The maker of Blue Moon reported net income was $105.1 million in the second quarter as sales rose to $999.4 million.
Stocks Look to Build on 3-Month Highs
U.S. stock-index futures pointed higher on Tuesday, signaling Wall Street may climb above levels not seen since early May as traders focus on central bank and corporate news.
Office Depot Results Miss Estimates as Sales Drop
The No. 2 U.S. office supply retailer posted a wider-than-expected quarterly loss as sales remain weak in the U.S. and Europe.
Yahoo to Drop Copyright Countersuit Against Singapore Press Holdings - Sources
Yahoo Inc.'s (YHOO) Southeast Asian unit won't be counter-suing Singapore Press Holdings Ltd. (T39.SG) for copyright infringement after the two companies reached an agreement over Yahoo's claims against the Singapore media company, people with knowledge of the case said Tuesday.
Libya's Afriqiyah Airways Orders Larger Airbus Jets
Libyan airline Afriqiyah Airways has converted an order for three Airbus A321 narrow-bodied passenger jets into orders for twin-aisle, larger-capacity A330-200 aircraft, Airbus said Tuesday.
Eurozone Pain Slams German Industry Orders in June
The debt crisis is taking its toll on Europe's largest economy as industrial orders fell more than expected in June.