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News Scan
News Scan P.M.: July 19, 2025 NEW YORK - Business, technology and wealth news: ConAgra Recalls Huge Amount Of Beef, 16 Sick ConAgra Foods launched the nation's second-largest recall of ground beef after the U.S. Agriculture Department said the meat may be contaminated with a deadly bacteria that sickened at least 16 people. U.S. Officials Subpoena Mercedes On Price Fixing Federal officials have launched a criminal investigation into allegations that Mercedes colluded with dealers to fix prices on cars sold in the New York area, DaimlerChrysler AG said. HPL Launches Accounting Probe, Ousts CEO Software maker HPL Technologies said it was investigating suspected accounting irregularities and had ousted its chairman and chief executive. United Caps Record Second-Quarter Air Industry Loss Major U.S. air carriers lost $1.4 billion in the second quarter, the most ever for that reporting period, as Friday's steep losses and gloomy outlook from United Airlines capped a week of airline earnings reports stained with red ink. Tougher U.S. Business Reform Bill Is Basis For Talks Under growing political pressure to move against business scandals, U.S. lawmakers took the tougher of competing reform bills as the basis for negotiations on a final measure that could be drafted within days. SEC's Pitt Downplays Fears Of Restatements Wave SEC Chairman Harvey Pitt, battling a crisis in market confidence, said he expected most companies would meet an SEC deadline next month to certify their most recent financial results. Nicor Plunges To 10-Year Low On Accounting Woes With its shares plunging about 50% to a 10-year low, Nicor is the latest company to suffer from accounting woes, in this case coming from a joint venture with Dynegy. Merck Posts Roughly Flat Profit Vs. Year Ago Merck & Co. said its quarterly profit was little changed from a year earlier, as strong sales of its high-cholesterol and osteoporosis medicines were offset by falling sales of drugs facing generic competition. J&J Confirms FDA Probe, Believed Related To Eprex Shares of Johnson & Johnson tumbled to a 16-month low after federal regulators began probing allegations of fraudulent record-keeping at a plant that makes one of the health care giant's best-selling medicines. U.S. Trade Gap A Record As Consumers Snap Up Imports The U.S. trade deficit swelled to a record in May on strong consumer demand, while tame inflation data solidified expectations the Federal Reserve will keep interest rates low. Earlier headlines Ford's Lincoln Mercury Chief Steps Down UAL Posts $341M Loss As Revival 'Stalled' R.J. Reynolds Q2 Profit Up J&J: No link Between Allegations, Disorder Microsoft Extends Decline On Cautious Outlook Avon Q2 Profit Prettier Sun Shares Plunge 21% AOL Time Warner Named In Shareholder Suit Vivendi To Postpone H1 Results Samsung Q2 Net More Than Doubles News items can be submitted to Gregory Levine at glevine@forbes.net or by calling him at (212) 366-8851.
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Market data provided by Reuters. Disclaimer Stock quotes are delayed at least 15 minutes for Nasdaq, at least 20 minutes for NYSE/AMEX. U.S. indexes are delayed at least 15 minutes with the exception of S&P; 500 which is real-time. Forbes 40 Index powered by Telemet. News may include latest headlines from Reuters. |
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