US Business News

Alibaba Debut Makes a Splash

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Alibaba shares surged 38% to $93.89 in their market debut, making the Chinese e-commerce giant one of the most valuable companies in the U.S.

Energy Future Opens Oncor Bidding

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Energy Future Holdings opened the bidding to the firm's rights to Oncor, a Texas transmission business, after filing proposed rules Friday with the U.S. Bankruptcy Court overseeing its Chapter 11 case.

Once Again, Oracle Must Reinvent Itself

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Larry Ellison's departure as CEO intensifies the central issue surrounding Oracle's future: Can it endure tectonic shifts that are reshaping its market?

Head of China Gold Miner Held

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China's largest gold producer, Zhongjin Gold, said President Wang Ronghu has been detained by state anticorruption agents.

Glaxo Guilty of Bribery in China

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GlaxoSmithKline said a Chinese court found its subsidiary guilty of bribery, and fined the company nearly $500 million, in what Chinese state media said was the largest ever corporate fine.

NFL Seeks to Redo Conduct Policies

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NFL Commissioner Roger Goodell proposed a new conduct committee and seemed open to relinquishing some disciplinary power in response to a domestic-violence scandal that has swirled around his league for two weeks.

ITT Under Scrutiny from Two Agencies

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Troubles in the nation's for-profit college industry accelerated on Friday as ITT Educational Services Inc. disclosed that two federal agencies have placed the struggling education company in their cross hairs.

Siemens Preps Bid for U.S. Firm

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Siemens is preparing a multibillion-dollar offer for U.S. energy firm Dresser-Rand, according to people familiar with the matter, likely edging out an earlier offer from Swiss rival Sulzer.

GM Told to Open Defect Files

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Hundreds of car owners suing General Motors over an ignition-switch flaw got a boost when a New York judge ordered the auto maker to turn over internal documents about its handling of the defect to plaintiffs' attorneys.

Baseball Suit Calls Out Minor-League Pay

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A lawsuit against Major League Baseball and its 30 teams says minor-league players make less than required by state and federal laws governing minimum wage and overtime.

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