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Under the justices' May decision an employee must sue within 180 days of a decision involving pay if the employee thinks it involved race, sex, religion or national origin.
HEATLH CARE
J&J to Cut Jobs, Shut Facilities
Johnson & Johnson said that it will cut as much as 4 percent of its workforce to save $1.3 billion to $1.6 billion next year when two of the company's top-selling drugs may face generic competition. J&J, the world's largest health-products company, said that some facilities will close and that the staff reductions will result in charges of about $750 million this year. As many as 4,820 positions may be eliminated.
AIRLINES
Midwest to Consider Offer
Midwest Airlines announced that a committee of its board of directors will start discussions with AirTran Airways over AirTran's $389 million hostile buyout offer. Midwest had fought the bid for months.
EARNINGS
IndyMac Bancorp said second-quarter profit fell 57 percent from the comparable period a year earlier, to $44.6 million, as more borrowers fell behind on payments and it made less from selling loans to investors. Revenue at the second-largest independent U.S. mortgage lender, fell 21 percent, to $297.8 million.
Loans and other assets that have stopped paying interest more than quadrupled to $516 million, IndyMac said. The company was forced to repurchase $219 million of loans from investors because borrowers missed payments, up from $48 million.
Whole Foods Market said its profit slipped in the most recent quarter despite higher sales, as the natural and organic retailer doubled spending on new stores. The company said it earned $49.1 million, down from $53.9 million. Revenue rose 13 percent, to $1.51 billion.
Sales at stores open at least a year -- a key measure in retailing -- rose 7 percent.
Meanwhile, a federal district judge in Washington began hearing evidence in the Federal Trade Commission's request for an injunction to block Whole Foods from buying Wild Oats. The hearing was scheduled to end todaywed, and a decision is expected by mid-August.
Marathon Oil said second-quarter profit fell 11 percent, to $1.55 billion. Revenue fell 7.7 percent, to $16.9 billion. Results were affected by a year-earlier gain on an asset sale and a 2.3 percent decline in oil and natural-gas production.
Marathon Oil also said it has agreed to buy Western Oil Sands for $6.2 billion in cash, stock and assumed debt, giving it entry to the growing Canadian oil-sands market.
Compiled from reports by Washington Post staff writers, the Associated Press and Bloomberg News.
