BUSINESS NEWS

Target at Post-Bailout GM: Earning $10 Billion a Year

The auto maker is expected to report net income of more than $8 billion for last year and has set its sights on a once-unthinkable goal: making more than $10 billion a year.

Adelson Cashes In on Turnaround at Sands

A financial turnaround at Las Vegas Sands Corp. is beginning to pay off for chairman and CEO Sheldon Adelson, who during the financial crisis put $1 billion of his own money into the struggling casino operator.

Weather Deal Backfires for BMW's Mini

A deal with a German meteorology institute to sponsor a weather system backfired on BMW's Mini brand, after the "Cooper" cold front brought arctic temperatures, icy winds and dozens of deaths to much of Europe.

Storm Clouds Gather Over Florida Insurers

State-run entities that expanded over the past decade to provide affordable homeowners insurance in hurricane-threatened Florida are in danger of becoming so big they threaten to wreak havoc on the local economy.

Stats on Corn Called Flaky

Farmers and analysts are expressing fresh skepticism about Agriculture Department data on the corn market in the wake of the latest figures, which stunned traders and sent prices on another wild ride.

Resolution on Remnants of Dexia Is Near

The French government and two state-controlled entities are in the home stretch to create a new municipal lender from the remains of troubled Franco-Belgian bank Dexia SA, but they have yet to agree on the price of a key asset, the fate of hundreds of employees, and the exact missions of the future company.

Foreclosure Deal Gets Closer

Federal and state officials aim to wrap up this week a multibillion-dollar agreement with five major banks to settle probes of alleged foreclosure abuses.

Animator Looks to Break Through

Disney and John Lasseter hope to boost the U.S. box-office punch of Studio Ghibli, the Japanese company behind 'Spirited Away' and other award-winning movies, with "The Secret World of Arrietty," based on "The Borrowers."

Casino Presses Ahead in Florida

Las Vegas Sands and Malaysia's Genting are regrouping after a bill to authorize three casinos in Miami-Dade and Broward Counties stalled last week in the state legislature.

New York Fashion Week Takes Shape

New York Fashion Week, which begins Thursday, is looking like one of the busiest and most upbeat the city has seen in recent years.

Used-Car Prices Climb

The average prices of used cars are on track to rise 1.8% in 2012, with much of that increase expected in the second half of the year. It will mark the third-consecutive year that prices—already running at or near record highs—have risen.

TPG Raises 4 Billion Yuan

Private-equity firm TPG said it has secured about 4 billion yuan (US$634 million) so far as it continues to raise capital for China investments.

PepsiCo, Coke to Update Investors

PepsiCo and Coca-Cola likely will show solid profit growth when they share their 2011 results this week, but this year could be tougher.

The Wrong End of Lawsuits

Law firms are finding they increasingly are landing on the wrong end of lawsuits, getting sued by clients or facing claims of employment discrimination and firm mismanagement.

After Xstrata, a Mining Merger Pileup

A Glencore-Xstrata merger would create a true rival to global mining heavyweights like Vale, Rio Tinto and BHP Billiton, as well as put pressure on midsize players to either team up or grow through acquisitions.

TPG Raises 4 billion Yuan for China Investments

Private-equity firm TPG said Monday it has secured about 4 billion yuan ($634 million) so far as it continues to raise capital for China investments.

Banks' Offices Shrink

Wall Street firms have begun to quietly jettison office space in a sign that repercussions from the recent contraction in the financial-services industry will be felt in the city for several years.

KT Corp's Net Profit Rises

KT Corp. said fourth-quarter net profit rose 13% on year largely due to gains from asset sales, but operating profit fell by nearly 20% on a decline in phone charges.

Qantas: Profit Must Improve to Retain Rating

Qantas Airways said that it risks losing its coveted investment-grade credit rating if it has to continue relying on borrowings to fund its fleet renewal program.

Airline Teams Endure Hiccups

India's Kingfisher Airlines shelved plans to join Oneworld, the second loss to the global marketing alliance in a week. The move capped a tough period for the alliances that have come to dominate the industry.