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Business

  • Philips loses $467 million patent suit to US competitor
     AMSTERDAM – Royal Philips NV says it will book a $467 million charge in the third quarter after losing a patent lawsuit to smaller U.S. competitor Masimo Corp.
  • Barra shares plan to renew GM
    MILFORD, Mich. – General Motors CEO Mary Barra told investors Wednesday that GM plans a raft of new models and a big push to sell more cars in China to drive profits in coming years, as the biggest U.S.
  • General Mills to cut workforce
    General Mills plans to cut about 700 to 800 jobs, the second time it has trimmed its workforce in a month as the food company adjusts to a shift by U.S.
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Week Ahead

Today

•National Association of Realtors releases pending home sales index for June

Tuesday

•Standard & Poor’s releases S&P/Case-Shiller index of home prices for May

•The Conference Board releases the Consumer Confidence Index for July

•Federal Reserve policymakers begin a two-day meeting to set interest rates

•Senate Banking, Housing and Urban Affairs Committee hearing on Wall Street reforms and systemic risks in financial markets, with Mary Jo White, head of the Securities and Exchange Commission

Wednesday

•Commerce Department releases second-quarter gross domestic product

•Labor Department releases the second-quarter employment cost index

•Federal Reserve policymakers meet to set interest rates

Thursday

•Labor Department reports on weekly jobless claims

•Freddie Mac, the mortgage company, releases weekly mortgage rates

•Institute for Supply Management releases its manufacturing index for July

•Commerce Department reports on construction spending for June

•Automakers release vehicle sales for July

Friday

•Labor Department releases employment data for July

•Commerce Department reports on personal income and spending for June

•Commerce Department reports on factory orders for June

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