The Obama administration is close to naming a permanent top auto-safety regulator amid criticism of the agency’s handling of large air-bag recall, which an administration official on Friday called “suboptimal.”
P&G said it plans to exit its Duracell business, with plans to carve off the leading battery brand with $2 billion in global sales into a separate company. The plan was announced as P&G reported flat sales and a 34% profit drop for its fiscal first quarter.
Chiquita has terminated its deal with Irish food company Fyffes and said it instead plans to enter negotiations with Cutrale-Safra, the coalition between a Brazilian orange juice maker and an investment firm.
Ford said third-quarter income fell 34% from a year ago to $835 million as lower truck production and higher warranty and recall costs hurt results in its core North American operations and losses in Europe widened.
United Parcel Service Inc. reported robust third-quarter growth, fueled by an increase in package shipments both in the U.S. and abroad and the strongest increase in domestic business-to-business deliveries in several years, signaling a strengthening U.S. economy.
Indonesian prosecutors are increasingly bringing criminal charges against employees of large companies for allegedly causing losses to the state, a development that is chilling the business community there.
Digital music sales at Apple iTunes store have fallen 13% to 14% world-wide since the start of the year, according to people familiar with the matter, underscoring the fragility of the music industry’s nascent recovery.