Latham & Watkins LLP’s Zachary Fardon was nominated by President Obama to be U.S. Attorney for the Northern District of Illinois in Chicago. He would replace Patrick Fitzgerald, who left last June and joined Skadden Arps Slate Meagher & Flom LLP.
Procter & Gamble Co. is replacing Chief Executive Officer Bob McDonald with his predecessor, A.G. Lafley, as the world’s largest consumer products maker struggles to rekindle growth at home and abroad.
Sears Holdings Corp., the retailer controlled by billionaire hedge-fund manager Edward Lampert, posted a quarterly loss of $279 million, hurt by costs related to store closings and severance expenses. The shares tumbled.
AbbVie Inc. boosted the price of its Niaspan heart pill by 37 percent to offset prescription losses after studies panned the drug, drawing criticism from doctors amid a national debate over the high cost of health care.