Chevron profit tumbles 90 percent, misses estimates; shares drop

- Second-quarter profit at oil producer Chevron Corp tumbled 90 percent, missing analysts' expectations, amid weakness in oil prices .

Recent Business News

U.S. employment costs post smallest gain on record in second-quarter

WASHINGTON - U.S. labor costs in the second quarter recorded their smallest increase in 33 years amid tepid gains in the private sector, but it likely was a temporary setback against the backdrop of diminishing labor market slack.

9:21am EDT

UPS to buy Coyote Logistics for $1.8 billion from Warburg Pincus

- United Parcel Service Inc , the world's largest courier company, said it would buy Coyote Logistics from private equity firm Warburg Pincus for $1.8 billion to expand its full-truckload services.

9:27am EDT

Who needs the Fed? The rate hike cometh on its own

NEW YORK - As traders, market pundits and economists jaw over whether the Federal Reserve this year will lift its benchmark lending rate for the first time in almost a decade, several corners of the U.S. bond market are not waiting around.

10:01am EDT

Berry Plastics to buy Blackstone-owned Avintiv for $2.45 billion

- Plastic packaging products maker Berry Plastics Group Inc said it would buy Avintiv Inc, which makes materials used in products ranging from diapers to disinfectant wipes, for about $2.45 billion in cash from Blackstone Group LP .

8:53am EDT

Exclusive: China watchdog extends pursuit of short sellers to HK, Singapore - sources

HONG KONG/SHANGHAI - China is pressing foreign and Chinese-owned brokerages in Hong Kong and Singapore to hand over stock trading records, sources said, extending its pursuit of "malicious" short sellers of Chinese stocks to overseas jurisdictions.


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