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US stock rally sputters as S&P profit outlook dims

  Bloomberg A two-month advance in U.S. equities ran out of steam amid signs investors are again growing skeptical of the long-awaited rebound in corporate profits. Stocks didn’t fall by much — at its close of 2,183.87, the S&P 500 Index slipped 0.01 percent over the five days — but that was enough to make it the second-worst week since ...

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Viacom saga comes to end with Redstones emerging victorious

  Bloomberg Viacom Inc.’s controlling shareholders Sumner Redstone and Shari Redstone emerged victorious in a months-long legal battle to oust Chief Executive Officer Philippe Dauman, reaching a settlement that will see him leave the company with a $72 million severance package. Dauman will become non-executive chairman until Sept. 13, giving him an opportunity to present to the board a proposal ...

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VW suspends Golf production amid supplier standoff

  Berlin / AFP Embattled automaker Volkswagen has been forced to suspend manufacture of the popular Golf model at its main production plant in Germany, a spokesman said on Saturday. But the decision by the car giant, locked in a legal battle with parts suppliers, will not affect its annual production target. Production of the Golf will be suspended “from ...

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