A new D-Day
Time Warner Cable and the CBS network, locked in a battle over fees the cable company pays to carry CBS programming, will continue negotiating until Monday, temporarily averting a blackout in some large cities.
Guilty plea
Halliburton agreed yesterday to plead guilty to destroying evidence during the Deepwater Horizon oil spill disaster in 2010, admitting one count of criminal conduct and agreeing to pay the $200,000 fine, the Justice Department said.
Claims climb
More Americans filed for unemployment benefits last week as annual auto-plant shutdowns continued to affect data. Jobless claims rose by 7,000 to 343,000 in the week ending July 20.
Call abuse fix
Benjamin M. Lawsky, New York state’s top bank regulator, is proposing new rules to protect consumers against abusive debt-collection practices. “These reforms will help cut down on repeated, harassing phone calls from debt collectors,” Lawsky said.
Wells cutback
Wells Fargo, the largest US home lender, will withdraw from eight mortgage joint ventures because of regulatory changes, cutting 300 jobs. Wells Fargo shares slipped 1.5 percent to $43.65.
FB in fat city
Facebook shares soared 30 percent yesterday to $34.36 after the social media giant pushed aggressively into mobile advertising and reported much-improved second-quarter revenue and profit. The stock is trading at levels not seen since shortly after Facebook’s IPO last year.