AMC warns it is running out of cash
America’s largest movie theater chain AMC has warned shareholders it could run out of cash by the start of 2021. Sarah Whitten reported the news for CNBC: AMC, the largest cinema chain in the U.S., warned investors on Tuesday is in danger of running out of cash by early 2021. Shares of the company tanked […]
Johnson & Johnson pauses COVID-19 vaccine trial
Johnson & Johnson has paused a trial for a COVID-19 vaccine after a participant developed an “unexplained illness.” Lydia Ramsay Pflanzer reported for the Business Insider: Johnson & Johnson said Monday that it had temporarily halted its coronavirus vaccine trials after a participant experienced an unexplained illness, the second major setback to hit a late-stage […]
Talking Biz News Today — Oct. 13, 2020
Some of Tuesday’s top business news stories: Associated Press 2nd COVID-19 vaccine trial paused over unexplained illness Microsoft attempts takedown of global criminal botnet, by Frank Bajak CNN Disney to overhaul its entertainment business with focus on streaming, by Frank Pallotta Nobel Prize in economics awarded to Paul Milgrom and Robert Wilson for auction theory, […]
Talking Biz News Today — Oct 12, 2020
Some of Monday’s top business news stories: Associated Press Amid COVID, many businesses in precarious spot as 2020 ends, by Joyce M. Rosenberg Trump administration targets diversity hiring by contractors, by Matt O’Brien, Alexandra Olson CNN Online shopping has been turbocharged by the pandemic. There’s no going back, by Charles Riley The pandemic is driving […]
Talking Biz News Today — Oct 9, 2020
Some of Friday’s top business news stories: Associated Press COVID-19 relief pushes U.S. budget deficit to a record $3.1T, by Andrew Taylor IBM to spin off $19B business to focus on cloud computing CNN Square just bought $50 million in bitcoin, by Oliver Effron The pandemic made 107,000 oil and gas jobs disappear. Most aren’t […]
IBM will spin off services business and focus on cloud
IBM will spin off its IT infrastructure management business, which accounts for a quarter of its sales, to focus on cloud computing. Asa Fitch and Dave Sebastian reported the news for the Wall Street Journal: International Business Machines Corp. is planning its biggest-ever business exit, spinning off a major part of its information-technology services operations […]
Talking Biz News Today — Oct. 8, 2020
Some of Thursday’s top business news stories: Associated Press Bleak outlook without stimulus: More layoffs, anemic growth, by Christopher Rugaber Up to 150 million could join extreme poor, World Bank says, by Cara Anna CNN Citigroup fined $400 million for risk management deficiencies, by Clare Duffy Billionaire Laurene Powell Jobs cuts back on journalism investments, […]
JP Morgan makes $30-billion commitment to fight racial inequality
JP Morgan has committed $30 billion to tackle racial inequality through loans, investments, and direct funding. CNN’s Jazmin Goodwin reported: JPMorgan Chase (JPM) is committing $30 billion over the next five years to promote racial equality. “Systemic racism is a tragic part of America’s history,” said JPMorgan Chase Chairman and CEO Jamie Dimon in a […]
Talking Biz News Today — Oct. 7, 2020
Some of Wednesday’s top business news stories: Associated Press Google, Oracle meet in copyright clash at Supreme Court, by Jessica Gresco Government probes Microsoft’s effort to boost diversity, by Matt O’Brien, Alexandra Olson CNN America’s trade deficit climbs to the highest level in 14 years, by Anneken Tappe Fed chair warns of economic tragedy if […]
Congress says Big Tech wields monopoly power
An investigation by Congress has found Amazon, Facebook, Google, and Apple have “monopoly power” that they have abused. CNN’s Brian Fung reported: A 16-month congressional investigation into Amazon, Apple, Google and Facebook has found that the tech giants hold “monopoly power” in key business segments and have abused their dominance in the marketplace, in a […]
