BUSINESS

Oaktree Capital Management Funds sent a letter to Jakks Pacific (JAKK.O) on Tuesday, outlining its intention to buy the toymaker and take it private in a $670 million deal, after repeated rebuffs from the company since the offer was made in March.

U.S. solar company SunPower Corp (SPWRA.O) is actively looking at acquisitions that would complement its residential and commercial project businesses, Chief Executive Tom Werner said on Tuesday.

The number of Americans living below the poverty line rose to a record 46 million last year, the government said on Tuesday, underscoring the challenges facing President Barack Obama and Congress as they try to tackle high unemployment and a moribund economy.

The 5 ft 10 1/2 inches tall beauty is also the fourth African woman to win the title. The last African to win is Mpule Kwelagobe, Miss Universe 1999 from Botswana. Other winners came from Namibia (1992) and South Africa (1978).

Cargill Inc said on Sunday that it will recall ground turkey products at one of its U.S. facilities for the second time in two months after a U.S. government body found salmonella contamination.

U.S. solar panel maker SunPower Corp said its board has authorized the conversion of all outstanding Class A and Class B common stock into a single class on a one-for-one basis.

Chipmaker Intersil Corp cut its third-quarter sales outlook but investors took the warning in their stride as the company signalled a recovery in bookings with customers beginning to burn through their inventory.

In a groundbreaking announcement, the Municipal Securities Rulemaking Board (MSRB) has advised municipal bond market participants that many “bank loans” currently being structured for state and local governments are likely to be classified as municipal securities, even though these “bank loans” are often being privately placed.

Oil and natural gas company Venoco Inc raised its full-year capital expenditure forecast to $250 million from $200 million, partly due to the construction of a newly approved pipeline.

Steven Soderbergh directed Contagion is a sure-shot winner this time, earning a whopping $23.1 million.

CBS News reportedly ended its relationship with both What's Trending, the site that issued the erroneous tweet, and the celebrity blogger who produced it.

The recent executive shakeup at Bank of America followed by reports of massive layoffs at the bank may leave you wondering what the turmoil means for you - either as a client of the banking colossus and Merrill Lynch, the brokerage firm it owns, or as a shareholder.

As Dawn chips away at paying back her $18,000 debt load, the 45-year old swears she'll never use credit again.

McDonald's Corp (MCD.N) reported a lower-than-expected rise in worldwide August sales at established restaurants on a steep drop in Japan and a lull in new product launches in the United States.

President Barack Obama proposed a $447 billion package of tax cuts and spending measures on Thursday aimed at spurring growth and hiring.

The Earl of Glasgow hopes to keep outlandish graffiti on the 13th century Kelburn Castle.

Summit Entertainment is suing the owner/operator of twilight.com, claiming the primitive fan merchandise site violates its copyright.

DreamWorks Studios and Twentieth Century Fox jointly announced Wednesday that they are co-financing Steven Spielberg's epic Robopocalypse.

The heated patent war between Apple and Samsung has found a new battlefield: Japan.

Apple's latest litigation was filed in Japan against its rival Samsung for violating patents for the iPhone and iPad.

Harris Williams & Co. has hired Mike Wilkins to help the investment-banking unit of lending giant PNC Financial Services (PNC.N) become involved in more Silicon Valley deals.

A lawsuit accusing several mortgage lenders of fraud over home loans maintained within the industry's private electronic database cannot proceed, according to a U.S. appeals court ruling.

Republican presidential hopeful Mitt Romney said on Wednesday that if he were elected president, he would not keep Ben Bernanke as chairman of the Federal Reserve.

Forget Park Avenue or Fifth Avenue. Sand Hill Road in Menlo Park, California, is the most expensive street in North America for office renters, according to a report released by real estate services firm Jones Lang LaSalle Inc on Wednesday.

The U.S. Department of Energy said it has offered $344 million in loan aid for a solar power program at military bases that could double the number of the country's residential rooftop solar arrays.

U.S. Treasury debt prices fell on Wednesday as traders booked profits from a recent rally and higher stocks undermined the safe-haven value of U.S. government debt.

Nvidia Corp (NVDA.O) forecast fiscal 2013 sales well ahead of market expectations, helped by demand for its graphics chips, sending its shares up 6 percent in extended trade.

Chevron Corp has made a deepwater discovery in the Gulf of Mexico at the Moccasin prospect, the site of the first exploratory well permit after the end of last year's deepwater moratorium.

Former Marvel executive Doug Finberg has joined MGM as executive VP of marketing, the studio announced Tuesday.