Business news briefs
CEO's exit roils
Fresh questions are being raised about the future privatization of the nationalized Royal Bank of Scotland after CEO Stephen Hester said Wednesday that he was leaving the bank. The surprise departure could add extra uncertainty for the British lender, which received a multibillion-dollar bailout during the financial crisis.
787 has problem
A Japanese carrier's Dreamliner had engine trouble before takeoff Wednesday, a day after a rival airline had a problem on another 787 plane. Neither problem was with the lithium-ion batteries that were overheating and resulted in Boeing aircraft being grounded for four months.
dividend by 19.4%
Target Corp. is increasing its quarterly dividend by 19.4 percent, to 43 cents per share, payable Sept. 10 to shareholders of record as of Aug. 21. The retailer says it is the 184th consecutive dividend paid since it went public in 1967. Target shares fell 57 cents, to $69.43, in trading.
about more hiring
CEOs for the largest U.S. companies are more optimistic about sales over the next six months and plan to add more workers. The Business Roundtable said its April-June quarterly survey found 32 percent of members expect to expand payrolls, up from 29 percent in the January-March survey. And 78 percent expect more sales, up from 72 percent.
soar in first day
Gigamon, which makes equipment to monitor and control computer network traffic, went public Wednesday, pricing shares at $19, the midpoint of its expected range. They opened at $23.08 and rose as high as $26.42 in morning trading before closing at $28.47 and moving to $29.10 in after-hours trading.
8 charged in huge
U.S. prosecutors announced fraud and other charges Wednesday against eight alleged members of an international cybercrime ring said to have hacked into the computers of more than a dozen leading financial institutions and the U.S. military's payroll service. Among those hacked were Citibank, E-Trade, JPMorgan Chase Bank, Nordstrom Bank, PayPal, TD Ameritrade, TIAA-CREF, USAA, and the payroll arm of the U.S. Department of Defense.
Pfizer settles for
$2.2B on Protonix
Two generic drugmakers will pay $2.15 billion to Pfizer and Takeda Pharmaceutical to settle a patent fight over the heartburn treatment Protonix. Teva Pharmaceutical will pay $1.6 billion, while India's Sun Pharmaceutical Industries Ltd. will pay $550 million for selling their versions of Protonix before the patent protecting the drug expired.