Business Insider seeks reporter to cover consumer companies
Business Insider is looking for an experienced reporter to cover the companies behind some of the most popular brands and products in the world, including Coca-Cola, PepsiCo, Unilever, Nestle, and more. These consumer product giants are facing a rapidly evolving landscape as new rivals crop up and technology dramatically changes everything from the supply chain […]
Quicken Loans to go public
Quicken Loans plans to list on the stock exchange, challenging high-street lenders. CNBC’s Leslie Picker reported the news: Quicken Loans, the largest mortgage lender in America, is planning an initial public offering, according to people familiar with the matter. The company, founded and owned by Detroit-billionaire Dan Gilbert, has filed its IPO prospectus confidentially, the […]
Grubhub ties up with Just Eat
After rejecting a takeover approach by Uber, Grubhub has agreed to merge with Just Eat in an all-share deal. Edmund Heaphey had the news for Yahoo Finance: Just Eat Takeaway.com (JET.L) confirmed on Wednesday that it is in advanced discussions with US food delivery giant Grubhub (GRUB) about an all-share merger. The discussions come amid […]
Airlines brace up for record losses this year
The coronavirus crisis will result in record-high losses for the air travel industry, IATA has warned. UPI’s Don Jacobson reported the news: The global air transport industry faces losses of $84 billion this year and $15 billion in 2021 due to a steep drop in demand triggered by the coronavirus pandemic, an industry report predicted […]
BP to cut 10,000 jobs amid downturn
BP will reduce its headcount by 10,000 globally as it strives to cut costs and debt amid the latest oil demand crisis. Julia Horowitz reported the news for CNN: BP (BP) is cutting 10,000 jobs as it reels from a crash in oil prices and tries to pivot toward renewable energy. CEO Bernard Looney told […]
Gap reports record loss
Retailer Gap booked a net loss of a record $932-million loss in Q1 as it closed 90% of all stores during the lockdown. CNN’s Chris Isidore reported: By far the worst quarter in the 51-year history of the Gap produced a $932 million loss for the clothing retailer, but left it on its feet. And […]
AMC Theaters may go under
AMC Theaters has said it had doubts it could remain in business following the lockdown-forced movie theater closures. CNN’s Frank Pallotta reported the news: AMC Theatres, the world’s biggest movie theater chain, said on Wednesday that it has “substantial doubt” it can remain in business after closing locations across the globe during the coronavirus pandemic. […]
Google faces privacy invasion suit
A class action suit against Google has alleged the tech giant illegally tracked private Internet use. Jonathan Stempel reported the news for Reuters: Google was sued on Tuesday in a proposed class action accusing the internet search company of illegally invading the privacy of millions of users by pervasively tracking their internet use through browsers […]
Court rules against Nestle in meatless burgers naming case
A Dutch court has ordered Nestle to change the name of its meatless burger to protect the competitive rights of rival Impossible Foods. Saabira Chaudhuri reported the news for the Wall Street Journal: Nestlé SA must stop branding its plant-based burger “Incredible” after a European court ruled the language infringed on Impossible Foods Inc.’s trademarks […]
ACBJ joins lawsuit seeking PPP information from SBA
American City Business Journals has joined The Washington Post and nine other news outlets in a lawsuit against the Small Business Administration that seeks detailed information about the $659 billion Paycheck Protection Program. Matthew Kish of the Portland Business Journal writes, “On Friday, American City Business Journals, ABC, CNN, NBC, the Associated Press and the Center […]
