FDA Panel Backs Onyx Cancer Drug

An FDA panel backed approval of a cancer drug that is being developed by Onyx Pharmaceuticals, saying more options are needed for patients.

Starbucks to Open Tazo Store

Starbucks plans to open its first Tazo Tea Store in Seattle, as the companybranches out from its core coffee business.

News Corp. Bids for Consolidated Media

News Corp.'s Australian unit offered US$2 billion to buy Consolidated Media, in a move that would strengthen News Corp.'s interest in Australia's largest pay-TV service.

Moody's Upgrades Turkey

Turkish assets leapt higher as Moody's Investors Service announced a long-awaited upgrade to Turkey's sovereign debt rating, citing the country's improving public finances.

Coke Expands Into Dairy in U.S.

Coca-Cola is entering into a U.S. distribution pact for a high-protein workout-recovery shake called Core Power for athletes and fitness buffs.

A Bump at Speed Trading Hearing

Conflict erupted among some of Wall Street's heaviest hitters over a proposed definition of high-frequency trading, showing rifts that divide big investment firms from the high-octane companies that specialize in the electronic trading.

Banker Admits Formula One Bribe

A former German banker admitted accepting $44 million in alleged bribes from Formula One mogul Bernie Ecclestone in connection with a 2005 sale of a stake in the auto-racing franchise.

H&M Keen on Yuan Option

Swedish fashion giant Hennes & Mauritz said it is looking into sourcing its clothes in yuan to protect its purchasing costs from further strengthening of the U.S. dollar, and on the same day reported a 23% jump in quarterly net profit.

U.K. Unveils Plan on Executive Pay

Britain unveiled legislation to give investors more say on executive pay, a milestone in a shareholder rebellion gripping the U.K.

J&J Nears Settlement Over Marketing

J&J and the Justice Department are close to settling probes into off-label marketing of its drugs, and discussing a payment of at least $1.5 billion.

Oil-Lease Sale Draws $1.7 Billion in Winning Bids

The U.S. held its first oil- and gas-lease sale for the central Gulf of Mexico since the Deepwater Horizon spill, drawing $1.7 billion in winning bids from energy companies.

U.S. Stocks Close Mixed

Investors balanced positive developments in Europe against some disappointment that the Federal Reserve held off on more aggressive action to juice the economy.

Microsoft Moves to Bolster Smartphone Software

Microsoft announced plans to overhaul its struggling Windows Phone software, unifying the underlying technology with its new computer operating system and adding features for mobile payments.

Raises in Store at Apple

Apple has begun raising the wages of employees at its U.S. retail stores by as much as 25%.

Frustration With P&G Grows

Procter & Gamble lowered its earnings guidance for the current quarter and the 2013 fiscal year, citing softness in developed markets and a negative impact from foreign-exchange rates.

Nokia's Hopes Rest on New Windows 8

Windows 8 is among the biggest punts Microsoft has made. And it isn't just their fate that is at risk. If they can't execute quickly, the hemorrhaging Nokia will have bled to death before the it can feed on the benefits.

Chevron Joins Kosmos to Look for Oil Off Suriname

Chevron said it will join with Kosmos Energy to explore for oil off the coast of Suriname, as the oil giant seeks an entry into what could be a prolific new oil basin.

Wallgreen's Deal Prompts Selloff

Walgreen found itself under pressure as the company's shares fell sharply a day after it reached its biggest deal ever.

Bed Bath & Beyond Outlook Hits Shares

Bed Bath & Beyond surpassed expectations with a 15% increase in profit in its fiscal first quarter, but a downbeat outlook, middling same-store sales growth and narrower gross margin were a departure from company tradition. The retailer's shares fell sharply after hours.

BOE Seen Likely to Increase Stimulus

The Bank of England looks set to pump more stimulus into theeconomy after minutes revealed that Governor Mervyn King was narrowly defeated in a knife-edge vote on a fresh bout of bond purchases.