How Purdue Pharma’s owners tried to influence Bloomberg coverage
Hannah Dreier writes for ProPublica about how the Sackler family at Purdue Pharma tried to influence coverage at Bloomberg News through its friendship with company owner Michael Bloomberg. Dreier writes, “Read then emailed Theresa Sackler, asking for the reporter’s name. Sackler responded by identifying David Armstrong, then a reporter on Bloomberg’s investigations team. ‘We REALLY […]
Papa John’s Q4 earnings beat forecasts
Pizza chain Papa John’s reported stronger than expected earnings for the fourth quarter of 2019 but shares fell on China store closures. Heidi Chung had the news for Yahoo Finance: Papa John’s (PZZA) on Wednesday delivered a fourth quarter earnings beat on the top and bottom lines, boosted by strong same-store sales amid a turnaround […]
Bob Iger surprisingly leaves Disney CEO seat
Bob Iger has announced his resignation from the post of CEO of Disney, effective immediately. Sarah Whitten reported the news for CNBC: Bob Iger is stepping down as CEO. The media mogul, who has been at the helm of Disney since 2005 and extended his contract with the company twice during his tenure, said Tuesday […]
Amazon opens full-size cashierless grocery store
Amazon has opened a full-size grocery store that will have no cashiers. Jeffrey Dastin had the news for Reuters: Amazon.com Inc (AMZN.O) is bringing its cashier-less store technology to a larger stage. The world’s biggest online retailer on Tuesday is set to open ‘Amazon Go Grocery,’ a store in Seattle’s Capitol Hill with four times […]
Wells Fargo to pay $3 bln in fake account settlement
Wells Fargo has agreed to pay $3 billion to settle charges of fake account opening by employees. Ken Sweet and Stefanie Dazio reported the news for the AP: Wells Fargo agreed Friday to pay $3 billion to settle criminal and civil investigations into a long-running practice whereby company employees opened millions of unauthorized bank accounts […]
Company warns ex-employees not to talk to journalists
Former employees of Crux Informatics received a memo stating that former employees who had signed severance agreements could be sued by the data company if they were found to be speaking with journalists or making online comments about the company, reports Business Insider reporters Bradley Saacks and Dan DeFrancesco. Saacks and DeFrancesco report, “The memo, […]
Morgan Stanley will acquire E-Trade for $13 bln
Morgan Stanley will buy E-Trade for $13 billion to boost its wealth management business. Ivana Freitas reported the news for CNBC: Morgan Stanley announced Thursday that it is buying E-Trade for $13 billion in an all-stock deal. Here’s what Morgan Stanley’s CEO and three others are watching now. James Gorman, chief executive of Morgan Stanley, […]
SpaceX will launch space tourism flight in two years
SpaceX has signed a deal for a tour around the Earth for four private clients, to take place in two years. Marcia Dunn had the news for the AP: SpaceX aims to launch up to four tourists into a super high orbit, possibly by the end of next year. The private company is working with […]
HSBC will slash 35,000 jobs
HSBC will cut 35,000 jobs as part of a global overhaul over the next three years. Danica Kirka and Elaine Kurtenbach had the news for the AP: HSBC will shed some 35,000 jobs as part of a deep overhaul to focus on faster-growing markets in Asia and as it tries to cope with a slew […]
GM exits Australia, New Zealand, Thailand
General Motors will leave the Australian, New Zealand, and Thai markets amid a restructuring drive estimated to cost more than $1 billion. Hilary Russ and Yilei Sun reported the news for Reuters: General Motors Co (GM.N) said it would wind down its Australian and New Zealand operations and sell a Thai plant in the latest […]
