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Discovery to Buy Scripps Networks for $11.9 Billion

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Discovery Communications has agreed to acquire Scripps Networks in a deal valued at about $11.9 billion, combining two powerhouses of nonfiction television programming at a time of major upheaval in the cable-TV business.

Boeing Creates New Avionics and Electronics Unit

Boeing is creating a new unit to develop and build aircraft avionic systems, expanding its strategy of insourcing key technology to cut costs.

HSBC Launches $2 Billion Share Buyback as Profit Rises

HSBC said it would regularly buy back shares if it has extra capital, in the latest sign of strength from the global banking giant.

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India's Snapdeal Ends Talks to Join Flipkart in Battle With Amazon

Japan's SoftBank has been pressing for a merger of homegrown Indian e-commerce rivals Snapdeal.com, in which it owns a stake, and Flipkart-the better to take on Amazon. But Snapdeal is calling off the talks.

Lyft Adds Former Obama Adviser Valerie Jarrett to Board

Ride-hailing startup Lyft Inc. is adding its first independent board member, Valerie Jarrett, a former top adviser of President Barack Obama.

LabCorp to Buy Chiltern for $1.2 Billion

Laboratory Corp. of America struck a deal to buy Chiltern International for $1.2 billion in a move to grow its stake in the drug development and contract-research industry.

European Beer (and Near Beer) Sales Lift Heineken

Heineken posted higher profit for the first half of 2017, fueled by strong sales in Europe-including double-digit revenue growth for no- and low-alcohol drinks.

UniFirst Names Steven Sintros CEO

UniFirst promoted Chief Financial Officer Steven Sintros to chief executive after longtime leader Ronald Croatti died unexpectedly in May.

Sanofi Profit Declines, Hurt by Restructuring Costs

French drugmaker Sanofi said net profit fell in the second quarter as it was hit by higher restructuring costs, but lifted its earnings guidance for 2017.

Uber and Lyft Look to Hail Credit-Card Deals

Ride-sharing rivals Uber Technologies Inc. and Lyft Inc. may soon take their fight to your wallet.

(END) Dow Jones Newswires

July 31, 2017 13:15 ET (17:15 GMT)