Charter names interim CFO
Charter Communications Inc. has named Kevin Howard interim chief financial officer, effective Aug. 1.
Howard will continue in his roles as senior vice president and chief accounting officer at St. Louis County-based Charter during the company's ongoing CFO search. Charter also announced the appointment of Craig Jacobson to its board of directors. (Lisa Brown)
Justice Dept. sues Oracle • The Justice Department is joining a fraud lawsuit against Oracle Corp. related to software contracts worth hundreds of millions of dollars. The agency said Oracle failed to offer government customers the same discounts on its software that it offered commercial customers, as it was required to do. As a result, the lawsuit alleges, Oracle overcharged the government on a contract that ran from 1998 to 2006.
GM will file IPO papers next month, union chief says • General Motors Co. will file paperwork in mid-August to start the process of selling stock to the public, Bob King, president of the United Auto Workers union, said Thursday. GM spokeswoman Renee Rashid-Merem would not comment on when the public stock offering paperwork would be filed.
Citigroup to pay $75 million fine • Citigroup Inc. is paying $75 million to settle civil charges that it misled investors about its potential losses from subprime mortgages. The Securities and Exchange Commission announced the settlement on Thursday.
EARNINGS
Reliv International • Sagging domestic sales contributed to lower profits in the second quarter. The Chesterfield-based nutritional supplement provider reported net income of $206,020 , or 3 cents a share, compared with $409,831 or 2 cents, a year ago. Sales declined 7 percent to $18.8 million. (Jim Doyle)
Thermadyne Holdings Corp. • The Chesterfield-based maker of cutting and welding products reported higher second-quarter earnings as a result of increased international sales. Thermadyne's income was $2.6 million, or 19 cents per share, compared with $2.5 million and 18 cents in the corresponding period of 2009. Quarterly sales were $108.6 million, compared with $84.8 million last year. (Tim Bryant)
Belden Inc. • The Clayton-based producer of cable products reported net income of $19.7 million, or 41 cents a share, for the quarter ended July 3, compared with a loss of $4.9 million, or 10 cents a share, a year earlier. Revenue rose 24 percent to $426 million. (Robert Kelly)
From staff and wire reports
