Coverage: Huawei Technologies CFO arrested at request of U.S.
Canadian authorities arrested Huawei Technologies Co.’s chief financial officer at the request of the U.S. government for alleged violations of Iranian sanctions, the latest move by Washington to crack down on the Chinese cellular-technology giant. Kate O’Keeffe and Stu Woo of The Wall Street Journal had the news: A spokesman for Canada’s justice department said Meng Wanzhou was […]
How three NY Times reporters uncovered the CBS CEO story
Brian Stelter of CNN writes about how the reporting of three New York Times reporters — Ellen Gabler, Rachel Abrams and James B. Stewart — uncovered the real reason for the ouster of CBS Corp. CEO Les Moonves. Stelter writes, “After Farrow’s second story, and after Moonves was forced out, Stewart learned that Moonves and […]
Coverage: Kroger will start selling groceries in Walgreens
Walgreens and Kroger are expanding their partnership by testing a branded Kroger Express grocery section inside the drugstore chain. Amelie Lucas of CNBC.com had the news: The companies, which announced a partnership in October to sell some Kroger products inside 13 Walgreens locations, said Tuesday they decided to expand on the original pilot. Walgreens’ shoppers soon will be able […]
Coverage: GlaxoSmithKline is buying Tesaro for $5 billion
The cancer-focused biotech Tesaro is being acquired by pharmaceutical giant GlaxoSmithKline PLC for $5.1 billion. Adam Feuerstein of STAT had the news: The deal values Tesaro at $75 per share, or a 63 percent premium to Friday’s closing price. Tesaro’s drug Zejula belongs to a class of cancer drugs called PARP inhibitors that work by blocking an enzyme that […]
Coverage: Bayer to cut 12,000 jobs, sell animal health business
Bayer AG plans to cut 12,000 jobs and exit its animal health business in an effort to mollify Wall Street, which has punished the company over the tidal wave of lawsuits that came alongside the $63 billion takeover of Monsanto Co. Tim Loh and Naomi Kresge of Bloomberg News had the story: The German company announced a rash of […]
Coverage: Conde Nast CEO is leaving amid restructuring
Condé Nast Chief Executive Bob Sauerberg is stepping down, just months after he outlined an ambitious plan to return the magazine publisher to profitability by 2020. Jeffrey A. Trachtenberg of The Wall Street Journal had the news: Mr. Sauerberg will stay on in his role until the appointment of his successor, who will oversee both Condé […]
Coverage: GM plans to close five plants, cut 15% of its workforce
General Motors is poised to end production at five plants in the U.S. and Canada, kill off several passenger cars – including the Chevrolet Impala – and slash 15 percent of its salaried workforce in a sweeping cost-cutting plan designed to boost profits and adjust to America’s changing tastes in vehicles. Nathan Bomey of USA Today had the news: The Detroit-based […]
Coverage: Campbell Soup nears deal with activist investor
Campbell Soup Co. and Daniel Loeb’s hedge fund Third Point LLC are close to an agreement over composition of the U.S. food company’s board of directors that will end a proxy contest that was due to come to a head this week. Svea Herbst-Bayliss and Greg Roumeliotis of Reuters had the news: Under the deal being negotiated, Third Point […]
Coverage: Nissan Motor chair Ghosn is arrested
The arrest of Nissan Motor Co. Chairman Carlos Ghosn sent shockwaves through the business world and threw into doubt the future of Japan’s No.2 automaker and its global alliance. David Kiley of Forbes had the news: Ghosn was targeted by a whistle-blower who gave authorities information on Ghosn’s compensation, as well as charges that he has […]
Coverage: Walmart sales grow ahead of the holidays
Walmart reported better-than-expected third-quarter earnings amid solid same-store sales and accelerating e-commerce growth even as overall revenues were in line. Elaine Low of Investor’s Business Daily had the news: Estimates: Wall Street had expected Walmart earnings to rise 2% to $1.02 a share on 1.3% revenue growth to $124.856 billion, according to Zacks Investment Research. Some consensus […]
