Sara Lee's New Name: Hillshire Brands

Sara Lee is changing its name to Hillshire Brands and ramping up spending on new products and marketing as it spins off its coffee-and-tea business to focus on packaged meats.

Chinese Scientist Found Guilty in Theft of Drugs

A Chinese scientist employed by one of the country's primary pharmaceutical research firms was found guilty of stealing and selling patented medical compounds owned by Merck.

TransCanada to Build Gas Pipeline for Shell Project

TransCanada received a contract from Shell to build and operate a pipeline to transport natural gas to a planned LNG export facility in British Columbia.

Buffett Discloses Lee Stake

Berkshire Hathaway disclosed a 3% stake in newspaper publisher Lee Enterprises after the SEC rejected the company's proposal to have its investment treated as confidential.

New Fannie CEO Has Bank Baggage

Fannie Mae named its general counsel, Timothy Mayopoulos, as its next chief executive. In his new job, he may need to interact with officials at Bank of America, which ousted him.

Services Sector Shows Growth

The U.S. nonmanufacturing sector unexpectedly picked up a little steam in May, the ISM said. But employment barely remained in expansion.

Sprint's Virgin Mobile to Offer iPhone

Sprint Nextel is set to become the second U.S. mobile-phone carrier to offer the Apple iPhone on a pay-as-you-go basis.

Global Airlines Fly Into 'Storm'

Qantas warned it will post a full-year loss and the president of Emirates, the Middle East's largest airline, warned of a "perfect storm" in the industry that could force many airlines to downsize.

Nabors Owners Back Greater Proxy Access

Shareholders at oil-drilling contractor Nabors Industries approved a proposal that could give them more power to oust directors, the first time a proxy access resolution passed at a major company.

FDA Rejects Merck's Treatment for Bone Cancer

Merck said the FDA rejected its new drug application for an investigational maintenance treatment for patients with metastatic soft tissue or bone sarcoma.

GM's China Sales Rise

General Motors posted strong sales growth in China in May, alongside healthy sales growth by other foreign auto makers and despite recent indications that economic activity in China may be slowing.

Disney to Cut Back Junk-Food Ads

Disney plans to curb the advertising of junk food on its television and radio programs and online content aimed at children.

Seattle's Best Signs Kiosk Deal With Coinstar

Coinstar and Starbucks entered an exclusive five-year agreement to open several thousand coffee kiosks in the U.S., brewing cups of Seattle's Best brand coffee for $1 a cup.

Shell Chief Rings Alarm

Europe is falling behind in locking in supplies of gas and oil, which will make the region vulnerable as global energy demand rises in coming decades, Shell's CEO said.

J&J to Stop Selling Surgical Mesh

J&J is stopping sales of surgical mesh products that aimed to relieve the intense pelvic discomfort of thousands of women, but resulted in numerous reports of injury and several deaths.

Treasury to Sell Stakes in 7 Bailed-Out Banks

The Treasury Department said it would sell stakes it holds in seven banks that received bailout funds at the height of the financial crisis, continuing the slow process of winding down the Troubled Asset Relief Program.

Sentencing in Insider-Trading Case

A middleman who ferried confidential information and cash payments between a former corporate lawyer and an ex-trader in a long-running insider-trading scheme was sentenced to more than two years in prison.

MF Global Trustees Battle Over Remains of Firm

Louis Freeh, the trustee for MF Global Holdings, the parent company, demanded $2.3 billion from the brokerage unit overseen by trustee James Giddens.

Volkswagen Lifts Stake in German Truck Maker

VW tightened its grip on German truck maker MAN by lifting its voting stake above 75%, another step in its effort to forge a truck alliance with Sweden's Scania.

Microsoft to Offer Xbox Subscriptions at Retailers

Microsoft plans to boost the number of outlets offering its subscription plan for the Xbox, an effort to attract more users by lowering upfront costs of acquiring the game console.