Concerned about the need to fight antibiotic resistance and possible bioterrorist attacks, the U.S. government will give drug maker GlaxoSmithKline up to $200 million over the next five years to help fund research into new antibiotics.
J.C. Penney has secured a $2.25 billion loan as it funds its expansion and general operations. The loan is $500 million more than the retailer initially sought.
Tim Cook challenged Senate investigators who reported Apple paid no corporate income tax on tens of billions of dollars in overseas income over the past four years and urged reforms.
Wal-Mart named Dan Bartlett, a former adviser to President George W. Bush, to head its corporate and government affairs. He will succeed Leslie Dach, who led the retail giant's decadelong push to remake its corporate image.
France's Carrefour said it is selling its 25% stake in a Middle Eastern joint venture to local partner Majid Al Futtaim Holding for €530 million ($686 million).
Several senior executives at HTC have left the company in recent weeks, signaling a broader management shake-up at the struggling smartphone maker and putting a spotlight on CEO Peter Chou.
To earn yields of 5% or more, investors are turning to more complex fare, such as high-yield corporate bonds, preferred stocks and real-estate investment trusts.
The stock market is expecting a massive new economic boom while the bond market sees the economy remaining in a funk. They can't both be right, but they can be wrong, writes Brett Arends.
