Sysco Ends Plans to Merge With US Foods -- 2nd Update
Sysco Corp. abandoned its planned acquisition of rival US Foods
Inc. following a federal judge's ruling against the deal, forcing
the food-distribution giant to find a new strategy for its future
that is likely to include smaller acquisitions. (published 0053
GMT)
Nike Founder Knight to Step Down as Chairman in 2016 -- 3rd Update
Phil Knight has laid the groundwork for his exit from Nike Inc.,
the company he started by selling shoes out of his car trunk in the
1960s and built into the world's biggest sportswear maker with $30
billion in revenue. (published 2335 GMT Tuesday)
Cisco to Buy Network Security Company OpenDNS -- Update
Cisco Systems Inc. on Tuesday said it agreed to buy closely held
OpenDNS for $635 million, the latest move by the networking giant
to boost its security business. (published 2318 GMT Tuesday)
Woodside's Browse LNG Joint Venture to Commence Early Works
Woodside Petroleum Ltd. said Wednesday its Browse floating
liquefied-natural-gas joint venture, which includes Royal Dutch
Shell PLC and BP PLC, had agreed to progress with early engineering
and design work. (published 2341 GMT Tuesday)
Sprint Is Called Out On Throttling Policy
Sprint Corp. has been slowing video speeds for unlimited data
customers for two years, and only recently began disclosing the
practice more prominently after the U.S. implemented new rules
governing net neutrality. (published 2353 GMT Tuesday)
Fitch Downgrades Brazil's Two Biggest Construction Companies -- Update
Fitch Ratings downgraded the debt of Brazil's two biggest
construction companies Tuesday, citing a continuing corruption
investigation that has weakened their business prospects and led to
arrests of their top executives by federal police. (published 2317
GMT Tuesday)
MasterCard Stops Processing Purchases of Ads on Backpage.com
MasterCard Inc. said it has stopped processing ad purchases on
Backpage.com, as payment-card networks become the latest front for
public officials trying to crack down on the adult section of the
controversial classified-ads website. (published 2315 GMT
Tuesday)
Emerson Electric to Spin Off Network Power -- 2nd Update
Emerson Electric Co. plans to carve off its network-power
business and about $5 billion in annual sales, in a move that
reflects increasing challenges for suppliers of equipment and
services to the computer-server centers powering the Internet.
(published 2258 GMT Tuesday)
Calpers to Sell Up to $3 Billion in Real Estate -- Update
The nation's largest public pension fund said it plans to sell
up to $3 billion in real estate, the latest effort by the
California Public Employees' Retirement System to reduce costs and
simplify its portfolio. (published 2134 GMT Tuesday)
Meridian Energy, New Zealand Aluminium Smelters Extend Deadline
Meridian Energy Ltd. and New Zealand Aluminium Smelters Ltd.
agreed to extend a deadline on the possible termination of an
electricity agreement at the Tiwai Point smelter on the South
Island. (published 2106 GMT Tuesday)