Guitar Center files for bankruptcy court protection
Guitar Center has filed for Chapter 11 bankruptcy protection, becoming the latest nonessential retailer to fall victim to the pandemic. Bloomberg’s Katherine Doherty reported: Guitar Center Inc., the largest U.S. retailer of music instruments and equipment, filed for bankruptcy after the coronavirus pandemic kept customers at home and job losses made them less able to […]
Talking Biz News Today — Nov. 23, 2020
Some of Monday’s top business news stories: Associated Press Business owners upbeat about vaccine, wary as virus spreads, by Joyce M. Rosenberg Retailers brace as virus bears down on consumers and economy, by Christopher Rugaber, Anne D’Innocenzio CNN Guitar Center is filing for bankruptcy, by Alexis Benveniste Hyperloop wants to change the world. Not everyone’s […]
BuzzFeed buys HuffPost
BuzzFeed has struck a deal with Verizon to acquire HuffPost in an all-stock deal. Benjamin Mullin and Keach Hagey from the Wall Street Journal reported: BuzzFeed Inc. has agreed to acquire Verizon Media’s HuffPost in a stock deal, the companies said Thursday, uniting two of the larger players in digital media as companies across the […]
Talking Biz News Today — Nov 20, 2020
Some of Friday’s top business news stories: Associated Press Mnuchin rejects renewal of some Fed emergency loan programs, by Martin Crutsinger, Christopher Rugaber US jobless claims rise to 742,000; millions to lose aid, by Christopoher Rugaber CNN GM is increasing spending to $27 billion to make 40% of its cars electric by 2025, by Peter […]
Apple cuts app store fees
Apple will cut its app store fees for smaller developers to 15% as regulatory scrutiny deepens. CNBC’s Kif Leswing reported: Apple said Wednesday it will cut its App Store commission rate to 15% for software developers with less than $1 million in annual net sales on its platform. Apple currently takes a 30% commission from […]
Talking Biz News Today — Nov. 19, 2020
Some of Thursday’s top business news stories: Associated Press Boeing Max cleared for takeoff, 2 years after deadly crashes, by David Koenig, Tom Krisher Apple to cut app store fees as legal scrutiny intensifies, by Michael Liedtke CNN A Dutch grocery giant is buying FreshDirect, by Nathaniel Meyersohn UK to ban sales of new diesel […]
Pfizer reports encouraging results from vaccine tests
Pfizer has reported a 90% efficacy rate for its Covid-19 vaccine candidate in a limited number of test participants. Michael Erman and Julie Steenhuisen from Reuters reported: Pfizer Inc’s PFE.N experimental COVID-19 vaccine is more than 90% effective based on initial trial results, the drugmaker said on Monday, a major victory in the war against […]
Talking Biz News Today — Nov. 10, 2020
Some of Tuesday’s top business news stories: Associated Press Pfizer says COVID-19 vaccine is looking 90% effective, by Lauran Neergaard, Linda A. Johnson EU puts tariffs on US but hopes for change with Biden, by Lorne Cook CNN The US job market probably won’t recover until 2024, by Anneken Tappe Want to invest in electric […]
Talking Biz News Today — Nov 9, 2020
Some of Monday’s top business news stories: Associated Press Pent-up global wish list of hopes, demands awaits Biden, by John Leicester, Jill Lawless, Jamey Keaten Profit jumps 82% at Buffett’s firm but virus hurts business, by Josh Funk CNN Feds seize $1 billion in bitcoins they say were stolen from Silk Road, by Chris Isidore […]
Peloton posts strong Q1 results
Peloton reportes strong revenues and a profit for the first quarter of its financial year, expecting the trend to continue. Jeremy C. Owens reported the news for MarketWatch: Peloton PTON, +6.77% on Thursday reported fiscal first-quarter earnings of $69.3 million, or 20 cents a share, after posting a loss of $1.29 a share a year […]
