April 7, 2014 |
Irish pharmaceutical giant Mallinckrodt Pharmaceuticals said it will pay $5.6 billion in cash and stock for a fast-growing Anaheim bio-pharmaceutical firm that specializes in treating multiple sclerosis, the companies announced Monday. The deal for Questcor Pharmaceuticals Inc. would give Mallinckrodt drugs that primarily treat chronic autoimmune and inflammatory disorders. Questcor's Acthar Gel, used in the treatment of multiple sclerosis, accounts for most of the company's sales.
June 7, 1991 |
Intel Corp. said it will close its Singapore plant to move manufacturing closer to its customers. About 300 workers will lose their jobs, the Santa Clara, Calif., computer chip maker said. Intel said it hopes to cut costs by moving the manufacturing of circuit boards and systems built at the plant to Oregon and Ireland, where the products will be closer to the companies that purchase them. Intel has 24,000 employees worldwide.
August 13, 2012 |
ATLANTA — Many American companies that had adopted a much-vaunted employee evaluation system have lately been turning away from it. Known as "stacked ranking" or "forced ranking," the process made famous by General Electric Co. is really just a version of what teachers call grading on the curve: a few people at the top, a few at the bottom and the rest clumped in the middle. The practice leaped into the spotlight — at least for people who study how companies perform — when Vanity Fair published in its August issue a profile of technology icon Microsoft Corp.
September 1, 2011
WASHINGTON Nine companies are recalling about 2 million bottles and jugs of the gel fuel used in outdoor patio decorations known as firepots because of the risk of serious burns. The Consumer Product Safety Commission says the gel fuel has been linked to several dozen cases in which people were burned when they couldn't tell whether the flame was out. Pouring more gel on a burning pot can lead to dangerous flares or burns. The companies are: Bird Brain Inc. of Ypsilanti, Mich.; Bond Manufacturing of Antioch, Calif.; Sunjel Company of Milwaukee; Fuel Barons Inc. of Lake Tahoe, Nev.; Lamplight Farms Inc. of Menomonee Falls, Wis.; Luminosities Inc. of St. Paul, Minn.; Pacific Decor Ltd. of Woodinville, Wash.; Real Flame of Racine, Wis.; Smart Solar USA of Oldsmar, Fla. The commission says Marshall Group of Elkhart, Ind., pulled out of the public announcement at the last minute.
March 20, 2013 |
NEW YORK -- The economy may be improving, but many U.S. companies are still hanging on to record amounts of cash, something they usually do in times of economic turmoil. U.S. companies held $1.45 trillion in cash in 2012, up 10% from the $1.32 trillion they held in 2011 -- which at that time was a record level, according to a new report from Moody's Investors Service. Apple is sitting on $137 billion in cash, a fact not lost on investors, who have sued in an effort to get Apple to give some of that cash to shareholders.
July 2, 2013 |
The energy industry scored a big win Tuesday when a federal judge tossed out a Securities and Exchange Commission rule that required oil and mining companies to disclose payments to foreign governments. Deeming the regulation arbitrary and capricious, U.S. District Judge John Bates in Washington noted that the SEC failed to include exemptions in cases in which foreign governments explicitly ban public disclosures, according to Fuel Fix, a website reporting the industry. The regulation was issued under the Dodd-Frank Wall Street Reform and Consumer Protection Act in 2010, intended to bring financial reforms following the Great Recession.