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Asia extends global stocks rally as upbeat U.S. GDP soothes sentiment

TOKYO - Asian shares extended a global rally on Friday after upbeat U.S. economic data calmed sentiment shaken by days of turmoil in Chinese equities.

Recent Business News

McDonald's, Tyson Foods drop farm after videotape shows animal cruelty

LOS ANGELES - McDonald's Corp and Tyson Foods both severed ties on Thursday with a Tennessee farm where workers were seen stabbing, clubbing and stomping on chickens in an undercover video shot by animal rights activists.

8:03pm EDT

GameStop says new game launches to drive strong second-half growth

- GameStop Corp said it expected robust revenue growth in the second half, helped by a strong slate of video game releases and growth in its mobile and consumer electronics businesses.

7:13pm EDT

Teen apparel retailer Aeropostale posts loss for eleventh straight quarter

- Teen apparel retailer Aeropostale Inc reported a loss for the 11th straight quarter as it discounted heavily to clear older inventory and closed many unprofitable stores.

6:51pm EDT

Caterpillar Inc plans to cut 475 more jobs amid revenue decline

- Heavy machinery manufacturer Caterpillar Inc said it plans a new round of layoffs to cut costs as declining revenues from global mining and construction activities erodes its bottom line.

3:41pm EDT

Tiffany earnings fall as high costs, strong dollar bite

- Tiffany & Co posted a 15 percent drop in quarterly earnings due to a strong dollar and the cost of developing and bringing out new products, sending shares of the luxury jeweler to an 18-month low. | Video

2:24pm EDT

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