Meet the Father of Zero-Based Budgeting

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Pete Pyhrr pioneered the use of budgets that required managers to justify spending every year, a technique that reached the White House in the 1970s—then almost disappeared. Now, Heinz, Kraft and other giants are adopting it.

LightSquared's Restructuring Plan Is Approved

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A judge approved the restructuring plan of LightSquared, capping a bankruptcy odyssey for Philip Falcone’s ambitious wireless venture that filed for bankruptcy nearly three years ago.

Regional Banks Fill Industrial Niche

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Local lender KeyBank is succeeding by going back to its roots, lending to small and mid-size manufacturers.

Apps Meerkat, Periscope in Race for Live-Video Supremacy

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Live-video streaming apps Meerkat and the newly introduced Periscope are going head-to-head in a race to become the dominant way for social-media users to broadcast their surroundings.

Restoration Hardware Issues Weak Outlook

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Restoration Hardware Holdings disclosed an ambitious business expansion that it said would slow down revenue growth in 2015 to the midteens.

Balance of Power Shifts in Groceries

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Smaller companies focused on natural and organic foods are feasting on shifts in tastes among consumers distrustful of established food giants’ products and ingredients. And big retailers are egging them on.

Toyota Unveils Revamped Manufacturing

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Toyota broke a two-year silence on a revamped manufacturing process—built on sharing components among vehicles—that it says will produce half its vehicles by 2020 and slash costs.

Petrobras Names New Chairman

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Brazil’s state-run oil firm Petróleo Brasileiro said that it appointed Luciano Coutinho, head of the country’s development bank, as its new chairman.

Pemex in Pipeline Deal With BlackRock, First Reserve

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Pemex has landed its first major investment since an energy overhaul opened the sector to private players. BlackRock and First Reserve will put up about $900 million for a 45% stake in a pipeline project.

Japan Robot Maker Fanuc Reveals Secrets

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Fanuc, which helps make iPhones and Teslas, is opening its doors after long eschewing investor contacts.

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