by Siyuan Du | Jun 30, 2015 | Business & Tech
WASHINGTON– The huge U.S. food distributor, Sysco Corp., has abandoned its proposed merger with U.S. Foods Inc., a move that will cost Sysco $300 million in break-up fees. Calling off the merger also terminated Sysco’s agreement with Performance Food Group to jointly...
by Kulwant Saluja | Jun 30, 2015 | Business & Tech, Topics
WASHINGTON — From bank closings to possible defaults with potentially devastating consequences, the fiscal crises in Puerto Rico and Greece have many parallels. Standard and Poor’s has lowered the credit rating on Puerto Rico to CCC-minus’ from CCC-plus,...
by Xiaolan Tang | Jun 30, 2015 | Business & Tech
WASHINGTON — Boeing Co. and its Brazilian rival, Embraer S.A., announced Tuesday that they will collaborate to test technologies to reduce carbon emissions and noise from airplanes. The companies, among the world’s largest airplane manufacturers, signed an...
by Lucy Ren | Jun 29, 2015 | Business & Tech
By Lucy Ren WASHINGTON — Kohlberg Kravis Roberts & Co., the New York based-private equity giant, Monday agreed to pay nearly $30 million to settle Security and Exchange Commission charges that the firm unfairly charged expenses to its flagship funds instead...
by Xiaolan Tang | Jun 25, 2015 | Business & Tech
WASHINGTON – Before leaving town for the July 4 congressional recess late Thursday, Democrats and Republicans found one last opportunity to fight – a tug-of-war over renewing the charter of the U.S. Export-Import Bank, which lends money to foreign firms to buy...
by Jin Wu | Jun 25, 2015 | Business & Tech
WASHINGTON – A U.S. law that requires all beef and pork to be labeled with its country of origin could cause massive retaliation against American meat exports in other countries at a cost about $3.2 billion, experts from Iowa told a U.S. Senate panel on Thursday. The...
