Wall Street Journal Business

Fortune Brands agreed to relinquish the rights to distribute Absolut vodka in the U.S. in exchange for a $230 million payment from Pernod Ricard.

Dell's profit fell 17%, hurt by aggressive price cutting as the PC maker expanded into retail and overseas markets. Executives forecast conservative tech spending in the U.S. and Europe. Shares fell 10% after-hours.

Boeing presented its machinists with a final three-year contract offer, hoping to smooth a volatile relationship with its largest labor union and avoid a second strike since 2005. (Company's offer)

The U.S. government awarded a contract to Boeing for the sale of antiship missiles to Taiwan, amid a continuing delay in approval for the sale of another, larger American weapons package to the island.

The Justice Department issued new internal guidelines to restrict prosecutor leverage in white collar crime cases. Defendants scored a big victory in a separate, closely watched tax case involving former KPMG officials.

The U.S. economy was much stronger in the spring than first thought, with GDP rising 3.3%, but the pace is expected to slow over the rest of the year.

Tough economic times demand change, even for companies such as Briggs, whose event-planning services cater to the elite. The company is helping their clients trim back costs, while still maintaining its aura of high-end service.

Shell and other oil and gas producers began shutting down their Gulf of Mexico production as Gustav remained on course to sweep through the region's energy corridor.

New York real-estate investor Adam Hochfelder has been arrested for allegedly "stealing more than $17 million from a panoply of banks and individuals."

New-vehicle sales in the U.S. for August are on track to drop 14% from a year earlier as the industry's slump continues, according to car-shopping Web site Edmunds.com.

Fannie Mae shook up its top ranks, announcing its chief business officer and two others are leaving as it moves to save capital. Shares surged 15%.

Tiffany doubled its quarterly net income as the upscale jeweler continued to see strong sales growth in the Asian-Pacific and Europe regions.

The SEC kicked off a process that could ultimately require all American companies to follow international accounting standards.

A growing number of record companies are starting to think Apple's iTunes service is crimping overall sales.

UAL, parent of United Airlines, and its pilots union appeared in U.S. District Court in Chicago, with the airline seeking a preliminary injunction against pilots, alleging an illegal "sickout" in July.

World-wide spending on servers is showing signs of slowing down as manufacturers resort to price cuts.

Detroit's beleaguered auto makers must overcome tight timelines and tricky election-year politics to win support for as much as $50 billion in government loans.

American Media has secured the backing of many of its creditors for a new bond offering to refinance $570 million in existing debt. The deal likely saves the struggling tabloid publisher from having to seek bankruptcy protection.

CBS is launching a new version of its CNET.com Web site this week, providing a glimpse at how it hopes to integrate CNET Networks.

Starbucks CEO Schultz and other top managers will not get salary increases next fiscal year, according to an internal memo, reflecting the coffee chain's effort to rein in spending.