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  • Target names Pepsi's Cornell as chairman, CEO

    MINNEAPOLIS (AP) — Target is bringing in an outsider as its CEO for the first time as the retailer fights to redefine itself to American shoppers. The Minneapolis-based company said Thursday that it named PepsiCo executive Brian Cornell to the top spot, replacing John Mulligan, who had been acting as interim chief executive since May....

  • As US job market strengthens, many don't feel it

    WASHINGTON (AP) — The U.S. unemployment rate has plunged since the start of last year to a five-year low of 6.1 percent. And the July jobs report being released Friday will likely show a sixth straight month of healthy 200,000-plus gains. Yet for Douglas Hunter and millions like him, happy days aren't quite here again. Hunter earned $14 an...

  • US jobless aid applications rise to 302,000

    WASHINGTON (AP) — More people sought U.S. unemployment benefits last week, but jobless claims remain at pre-recession levels. The Labor Department says weekly applications for unemployment aid rose 23,000 to a seasonally adjusted 302,000. The prior week's was revised down to 279,000 claims, the lowest since May 2000. The four-week average, a...

  • Exxon 2Q profit climbs 28 percent

    IRVING, Texas (AP) — Exxon Mobil Corp. (XOM) on Thursday reported net income that climbed by 28 percent in its second quarter, and topped analysts' expectations. The Irving, Texas-based company said net income increased to $8.78 billion, or $2.05 per share, from $6.86 billion, or $1.55 per share, in the same quarter a year earlier. The average...

  • MasterCard 2Q profit rises 9.8 percent

    PURCHASE, N.Y. (AP) — MasterCard Inc.'s second-quarter net income climbed 9.8 percent, topping analysts' expectations. The Purchase, New York-based company said profit increased to $931 million, or 80 cents per share, from $848 million, or 70 cents per share, in the same quarter a year earlier. The average estimate of analysts surveyed by...

  • Kellogg 2Q profit drops 16 percent

    BATTLE CREEK, Mich. (AP) — Kellogg Co. (K) on Thursday reported net income that declined by 16 percent in its second quarter. The results matched analysts' expectations. The Battle Creek, Michigan-based company said earnings dropped to $295 million, or 82 cents per share, from $352 million, or 96 cents per share, in the same quarter a year...

  • Discovery 2Q profit rises 26 percent

    SILVER SPRING, Md. (AP) — Discovery Communications Inc. (DISCA) on Thursday reported profit that increased by 26 percent in its second quarter, and topped analysts' expectations. The Silver Spring, Maryland-based company said profit increased to $379 million, or $1.09 per share, from $300 million, or 82 cents per share, in the same quarter a...

  • Colgate-Palmolive 2Q profit climbs 11 percent

    NEW YORK (AP) — Colgate-Palmolive Co. (CL) on Thursday reported profit that increased by 11 percent in its second quarter. The results matched analysts' expectations. The New York-based company said earnings increased to $622 million, or 67 cents per share, from $561 million, or 60 cents per share, in the same quarter a year earlier....

  • How states fared on unemployment benefit claims

    Applications for U.S. unemployment benefits rose last week, but they remain close to pre-recession averages. The Labor Department said Thursday that applications for jobless aid increased 23,000 to a seasonally adjusted 302,000. The less volatile four-week moving average dipped to 297,250, the lowest reading since April 2006. Here are the...

  • DirecTV 2Q profit climbs 22 percent

    EL SEGUNDO, Calif. (AP) — DirecTV on Thursday reported profit that rose by 22 percent in its second quarter, helped by demand for World Cup soccer game coverage, and topped analysts' expectations. The El Segundo, California-based company said earnings increased to $806 million, or $1.59 per share, from $660 million, or $1.18 per share, in the...

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