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)