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Corporate deals and some solid earnings reports propelled the stock market to its sixth straight gain Tuesday. Stocks are rebounding from a slump earlier this month when investors dumped high-flying biotechnology and Internet stocks.
Swiss pharmaceutical giant Novartis AG announced a series of multibillion-dollar deals Tuesday with other major pharmaceutical companies that it said would reduce sales but boost profitability, while affecting some 15,000 of its employees globally.
Valeant Pharmaceuticals and activist investor Bill Ackman have unveiled details of their offer to buy Botox maker Allergan, proposing a cash-and-stock deal that could be worth about $45 billion.
Comcast Corp. said Tuesday its first-quarter net income rose by 30 percent as ad revenue surged at broadcast network NBC, helped by the Winter Olympics in Sochi and Jimmy Fallon’s elevation as host of “The Tonight Show.”
General Motors Co. has filed suit in a U.S. bankruptcy court asking a judge to protect the company from legal claims for actions that took place before it emerged from bankruptcy in 2009.
Harley-Davidson’s first-quarter earnings rose 18.7 percent as motorcycle sales grew worldwide and efficiency efforts took hold. The Milwaukee company says global sales of new motorcycles grew 5.8 percent in the quarter as buyers responded to its new models.
General Mills is scrapping a controversial plan to strip consumers of their right to sue the food company.
Hasbro returned to profitability in its first quarter, driven by sales of girls’ toys such as My Little Pony and Nerf Rebelle. The prior-year results were dragged down by restructuring charges.
The United Auto Workers announced Monday it is withdrawing its appeal of the outcome of a union vote at Volkswagen’s assembly plant in Tennessee.
NEW YORK — Kraft Foods is recalling 96,000 pounds of its Oscar Mayer wieners because they may mistakenly contain cheese. The U.S. Department of Agriculture’s Food Safety and Inspection Service said Sunday that Kraft’s “Oscar Mayer Classic Wieners” may instead contain the company’s “Classic Cheese …
General Motors waited years to recall nearly 335,000 Saturn Ions for power steering failures despite getting thousands of consumer complaints and more than 30,000 warranty repair claims, according to government documents released Saturday.
The Belgian beer federation is trying to rekindle local interest in the drink with a “Proud of our Beers” public awareness campaign, including a tricolor national flag with the middle yellow turned into a glass of beer. “Belgian beer made in Belgium but not drunk in Belgium is not really Belgian beer anymore,” brewery owner Gert Christiaens said.
Major record labels are suing Internet radio giant Pandora for copyright infringement for using songs recorded before 1972 without paying license fees.
Mazda is recalling 109,000 Tribute SUVs in cold-weather states to fix rusting frame parts. The recall covers SUVs from the 2001 through 2004 model years.
A Texas federal judge has denied an emergency motion that would have forced General Motors to tell owners of more than 2 million recalled cars to stop driving them until the ignition switches are replaced.