Amazon Posts Another Blockbuster Profit

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Amazon reported another record profit and its fifth-straight quarter in the black as it continued to reap new sales from Prime memberships and its relentless push to deliver goods ever faster.

Facebook May Owe Billions More in Taxes

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Facebook said it could be on the hook for $3 billion to $5 billion in additional taxes as a result of an IRS investigation into how the social network transferred assets overseas.

Microsoft to Shed 2,850 Additional Jobs

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Microsoft Corp. plans to lay off 2,850 employees, adding to previously announced job cuts as it retools its sales operations and dismantles its mobile phone hardware business.

U.S. Employment Costs Up 0.6% in Second Quarter

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Employers’ personnel costs rose modestly during the spring, the latest reminder of slow income growth during the recovery.

U.S. GDP Grew at a Disappointing 1.2% in Second Quarter

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The U.S. economic growth sputtered this spring—growing a meager 1.2% in the second quarter—with cautious business investment largely offsetting more robust consumer spending.

U.K. Delays Decision on Hinkley Point Nuclear Project

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Plans to build a controversial $23.7 billion nuclear-power project in the U.K. were unexpectedly delayed after the government postponed making a final decision until the fall.

China Approves AB InBev Deal for SABMiller

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Anheuser-Busch InBev’s takeover of rival SABMiller received the green light from Chinese regulators, giving the Belgian brewer the final regulatory clearance it needs to move forward with the more than $100 billion deal.

UPS Profits Rise on Higher Shipments

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UPS reported profit rose 3.2% in the latest period, though higher fuel costs cut into climbing revenue from its U.S. and international package deliveries.

Sony Reports Surprise Profit

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The $206 million April-June profit defied analysts’ expectations for a loss due to weak image-sensor sales and the costs from recent earthquakes.

Sony Gets to Next Level With PlayStation Help

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Sony’s videogame segment reported its best quarter ever. That could get another boost with the introduction of a virtual-reality gadget in October.

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