Oil Prices Fall to Multi-Month Lows as U.S. Rig Count Rises

TODAY: Aug. 1, 2015 PUB DATE: July 31, 2015

By Timothy Puko Oil prices fell to new multi-month lows Friday as data showed U.S. producers put more drilling rigs to work despite a lingering world-wide glut. Many analysts and investors have warned for months that crude production could keep ...

BOE Appointee Vlieghe to Sell Stake in Brevan Howard

TODAY: Aug. 1, 2015 PUB DATE: July 31, 2015

LONDON--The newest appointee to the Bank of England's interest rate-setting panel said Friday that he will sell his stake in hedge fund firm Brevan Howard Asset Management LLP to avoid any impression of a conflict of interest in his new ...

Yahoo to Buy Social Shopping Site Polyvore -- Update

TODAY: Aug. 1, 2015 PUB DATE: July 31, 2015

By Josh Beckerman Yahoo Inc. agreed to buy social shopping site Polyvore Inc., a move intended to enhance the portal's "Mavens" growth strategy. Terms of the deal weren't disclosed Friday. Venture-backed Polyvore--geared toward fashion, beauty and home deco--announced a $14 ...

IMF Approves $1.7 Billion Ukraine Bailout Payment

TODAY: Aug. 1, 2015 PUB DATE: July 31, 2015

By Laura Mills KIEV, Ukraine--The International Monetary Fund approved a $1.7 billion bailout payment to Ukraine on Friday, despite ongoing negotiations between Kiev and its creditors to restructure the country's debt. The tranche is part of a $17.5 billion bailout ...

Yahoo To Buy Social Shopping Site Polyvore

TODAY: Aug. 1, 2015 PUB DATE: July 31, 2015

By Josh Beckerman Yahoo Inc. agreed to buy social shopping site Polyvore Inc., a move intended to enhance the portal's "Mavens" growth strategy. Terms of the deal were not disclosed Friday. Venture-backed Polyvore announced a $14 million Series C funding ...

South Korean Tycoon Consolidates Power From Behind Bars

TODAY: Aug. 1, 2015 PUB DATE: July 31, 2015

By Jonathan Cheng UIJEONGBU, SOUTH KOREA--On Aug. 1, Chey Tae-won, one of South Korea's richest and best-connected men, will celebrate a $7.6 billion merger that consolidates his control over SK Group, a sprawling conglomerate whose businesses include oil refining, chemicals, ...

Relativity Media Files for Chapter 11 Bankruptcy -- Update

TODAY: Aug. 1, 2015 PUB DATE: July 31, 2015

By Patrick Fitzgerald And Erich Schwartzel Relativity Media LLC, the beleaguered independent film and television studio behind such recent releases as "The Lazarus Effect" and hits like MTV's "Catfish," filed for bankruptcy protection Thursday and put itself up for sale. ...

Potholes Put a Dent in New York City Budget

TODAY: Aug. 1, 2015 PUB DATE: July 31, 2015

By Mozes Zarate Potholes and road defects cost New York City almost $138 million in settlements for pedestrian injuries and vehicle damage over the past six years, according to a report released Thursday by City Comptroller Scott M. Stringer. The ...

Eurozone Inflation Subdued as Unemployment Rises

TODAY: Aug. 1, 2015 PUB DATE: July 31, 2015

By Paul Hannon Consumer prices in the eurozone barely rose from a year earlier in July, while the number of people without work increased in June, both signs that the European Central Bank's bond purchase program has yet to have ...

Tax Status of Avago-Broadcom Merger Uncertain

TODAY: Aug. 1, 2015 PUB DATE: July 31, 2015

Avago Technologies Ltd. said the Internal Revenue Service has declined to assure that its pending $37 billion takeover of Broadcom Corp. will be tax-free to that company's shareholders, highlighting an unusual consequence of some cross-border deals. Singapore-based Avago and California-based ...

Chime Communications Accepts GBP374 Million Offer From WPP Consortium

TODAY: Aug. 1, 2015 PUB DATE: July 31, 2015

By Ian Walker LONDON--International communications and sports marketing group Chime Communications PLC (CHW.LN) said Friday it has agreed a 374 million pound ($581.67 million) offer from a consortium that includes Martin Sorrell's WPP PLC (WPP.LN). Under the offer accepting shareholders ...

U.S. Employment Costs Rise 0.2% in Second Quarter

TODAY: Aug. 1, 2015 PUB DATE: July 31, 2015

By Josh Mitchell and David Harrison WASHINGTON-U.S. labor costs rose at the slowest pace in at least three decades in the spring, a sign of persistently sluggish wage growth that could weigh on the Federal Reserve's decision to raise short-term ...

Russia Cuts Interest Rates Again

TODAY: Aug. 1, 2015 PUB DATE: July 31, 2015

MOSCOW?The Bank of Russia cut interest rates on Friday for the fifth time this year, citing economic risks, but declined to commit on further monetary easing. The central bank slashed the key rate by 50 basis points to 11%, in ...

Chevron's Profit Plunges on Impairments

TODAY: Aug. 1, 2015 PUB DATE: July 31, 2015

By Chelsey Dulaney Chevron Corp.'s profit tumbled in the second quarter as the oil company took over $2 billion in impairments and charges to suspend projects amid lower crude-oil prices. Shares fell 1.9% in premarket trading. "Second-quarter financial results were ...

Canada GDP shrinks 0.2% in May

TODAY: Aug. 1, 2015 PUB DATE: July 31, 2015

By Kim Mackrael OTTAWA--Canada's economy shrank for the fifth straight month in May, weighed down by weak results in manufacturing output, oil and gas extraction and wholesale trade. Gross domestic product, the broadest measure of goods and services produced in ...

EU Opens Investigation Into FedEx's Acquisition of TNT Express

TODAY: Aug. 1, 2015 PUB DATE: July 31, 2015

By Gabriele Steinhauser BRUSSELS--The European Commission on Friday opened an in-depth investigation into FedEx Corp.'s EUR4.4 billion ($4.8 billion) deal to buy TNT Express NV, saying it was concerned about the merged company's dominance in the international delivery of small ...

Hillary Clinton Calls For End to Cuba Trade Embargo

TODAY: Aug. 1, 2015 PUB DATE: July 31, 2015

By Arian Campo-Flores and Laura Meckler MIAMI--Hillary Clinton traveled to the home turf of two top Republican rivals Friday to make a forceful call to lift the U.S. trade embargo against Cuba, an issue that has sparked sharp debate in ...