Viacom Board Suit Against Redstone Holding Company to Proceed

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A Delaware judge will hear arguments on whether 93-year-old Sumner Redstone had the competency to decide to replace five board members at Viacom.

GDP Expands at Disappointing 1.2%

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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. The gain marks only a slight acceleration from the first quarter, when GDP advanced at a downwardly revised 0.8% pace.

Exxon's Tank Still Fuller Than Peers

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Exxon Mobil is the best of a faltering bunch among supermajors unable to finance both investments and payouts to shareholders while maintaining investments necessary to avoid shrinking.

The Divide Between GDP and Jobs

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The economy is growing slowly even as the labor market remains strong. It’s an unusual situation that could continue.

UPS Profits Rise on E-Commerce

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United Parcel Service reported a 3.2% increase in profit fueled in part by e-commerce growth, but the delivery giant cautioned that a weaker industrial environment will continue to be a drag.

Merck Revenue Rises on Cancer, Hepatitis Treatments

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Merck posted an unexpected increase in second-quarter revenue thanks to new cancer and hepatitis treatments, and an increased profit versus a year-earlier period that was weighed down by foreign-exchange losses.

How Mobile Games Rake In Billions

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Behind a pair of recent multibillion-dollar deals in the mobile videogame industry is an expertly crafted weapon: virtual goods sold inside apps for as little as 99 cents a pop. In-app purchases let players spend real money to bypass ads, acquire skills or grow powerful quickly.

SABMiller Board Backs AB InBev's Higher Offer

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SABMiller’s board backed AB InBev’s increased offer, ending a threat that jeopardized the more than $100 billion combination of the world’s largest brewers.

ArcelorMittal Earnings Beat Expectations

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ArcelorMittal reported its best quarter in five years as steel markets in the U.S. and Europe improved thanks to new protective import tariffs, stronger demand and shrinking inventories.

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.

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