Industries

Lanson Champagne U.K. Sales Rise as Wimbledon Fans Cool Off, Toast Murray Champagne Lanson, the official champagne supplier to the Wimbledon tennis championships, said U.K. sales rebounded in the last four weeks as fans cooled off during a heat-wave and toasted the success of Andy Murray.

Seven & I Slides After Reporting Weaker Supermarket Sales Cut Profit 28% Seven & I Holdings Co., Japan’s largest retailer, fell the most in almost three months in Tokyo trading after slumping supermarket and department-store sales cut profit by 28 percent.

MORE 

Crude Oil Futures Fall to $66 a Barrel in New York, 10% Below Year's High Crude oil futures in New York fell below $66 a barrel, a 10 percent decline from this year’s high, marking a market “correction.”

Saudi Arabia May Cut Heavy Crude-Oil Price as Processing Profits Decline Saudi Arabia may lower the official price of its heavy oil grade sold to Asia from a six-year high as processing profit for fuel used by ships and power plants declined in the previous month, refinery officials said.

MORE 

Seven More U.S. Banks Seized as Regulators Close Most Lenders Since 1992 Six banks in Illinois and one in Texas were seized by regulators as the deepening financial crisis pushed the toll of failed U.S. lenders this year to 52, the most since 1992.

Rothschild's Profit Will Decline on Lower Asset-Management Fees, CEO Says La Compagnie Financiere Edmond de Rothschild’s profit will fall this year on lower fees from assets under management, said Chief Executive Officer Michel Cicurel.

MORE 

Kennedy Health Plan Calls for Government Insurance Option, Employer Fees Senator Edward Kennedy’s health committee released a new health-care overhaul plan that lawmakers said would lead to coverage for most Americans, in part by assessing fees on companies that don’t offer insurance.

Swine Flu Virus Resistant to Roche's Tamiflu Found in Hong Kong Patient Tamiflu-resistant swine flu was found in a teenager who hadn’t taken Roche Holding AG’s best-selling antiviral medicine, Hong Kong’s health department said.

MORE 

Kennedy Health Plan Calls for Government Insurance Option, Employer Fees Senator Edward Kennedy’s health committee released a new health-care overhaul plan that lawmakers said would lead to coverage for most Americans, in part by assessing fees on companies that don’t offer insurance.

U.S. Payrolls Fall More Than Forecast in June, Unemployment Rises to 9.5% Employers in the U.S. cut more jobs than forecast in June and the unemployment rate rose to the highest in almost 26 years, limiting wages and threatening to erode the consumer spending essential to an economic recovery.

MORE 

Halabi Companies Fail to Fix $1.9 Billion Commercial Mortgage Bond Default Investor Simon Halabi’s real-estate companies failed to remedy a default on 1.15 billion pounds ($1.9 billion) of commercial mortgage bonds at a time when, according to Fitch Ratings, “pretty much” all such European deals would breach loan-to-value conditions if they were tested.

Fonciere des Regions Says Properties Fell in Value by 5% in the First Half Fonciere des Regions SA, the French office landlord with stakes in five other real estate investment trusts, will report a drop of about 5 percent in property values for the first half, according to its chief executive officer.

MORE 

Google Book-Scanning Settlement Is Subject of U.S. Antitrust Investigation Google Inc.’s $125 million agreement to settle copyright issues with book publishers is being investigated by U.S. antitrust regulators.

BT Plans to Offer Workers Leave on Reduced Pay in Effort to Avoid Job Cuts BT Group Plc, the largest U.K. phone company, is to offer some of its employees time off in return for salary reductions as part of a drive to cut costs.

MORE 

GM Bankruptcy Judge Ends Hearing, Will Weigh U.S.-Backed Sale of Automaker General Motors Corp.’s battle with creditors over its reorganization neared an end yesterday, leaving it up to a bankruptcy judge to decide the fate of a plan to create a streamlined carmaker by selling its best assets to a group led by the U.S. Treasury.

Wiedeking Era at Porsche Runs on Fumes as Volkswagen Takeover Backfires Wendelin Wiedeking, hailed as “the man who outfoxed the market” by Fortune magazine in January, is fighting to save Porsche SE -- and his job -- as a strategy to take over Volkswagen AG unravels.

MORE