Uber Technologies Inc CEO Dara Khosrowshahi has spent much of his career deftly negotiating acquisitions. Yet his $6.5 billion all-stock bid for Grubhub Inc ended with the food delivery company being acquired by European rival Just Eat Takeway.com NV.
Wall Street indexes nosedived on Thursday, on track for their worst days since early in the coronavirus pandemic as investors reassessed a stocks resurgence after the Fed issued a gloomy growth forecast and infections showed signs of upswing.
Wall Street tumbled in a broad sell-off on Thursday, with the Dow plunging well over 5%, as a cautionary economic forecast from the U.S. Federal Reserve and the prospect of a possible resurgence of COVID-19 infections put investors in risk-off mode.
A month into efforts to broadly reopen the U.S. economy there is little clarity either on the pace and durability of the recovery, or on the ability to convincingly suppress the virus that has killed more than 112,000 Americans.
U.S. stocks slumped on Thursday with the Dow shedding over 5% and the index on track for its sharpest one-day decline since March 18, as investors fretted over a resurgence in coronavirus infections and a grim economic outlook from the Federal Reserve.
Microsoft Corp said on Thursday it would not sell its facial-recognition technology to police departments until there is a federal law regulating the technology.
The fastest stock market decline in history has been followed up by one of the most rapid recoveries. Rallying on economic re-openings and a better-than-expected jobs report, the S&P 500 has basically recovered all of its losses for the year, while the Nasdaq topped 10,000 for the first time ever. Yet, investors need to be mindful of the potential risks ahead. US stocks tumbled today due to new concerns that the U.S. may be experiencing a second-wave reinfection of Covid-19 cases in certain states. So, where does the market go from here? One way to navigate all of the stock …read more […]
Comcast Corp said on Thursday it reached a content carriage deal with comedian-turned media mogul Byron Allen, who withdrew a lawsuit about racial bias against channels owned by African Americans.
Apple Inc Chief Executive Tim Cook said on Thursday the iPhone maker will increase spending with black-owned partners in its supply chain and seek to increase minority representation among the firms it does business with.
Microsoft Corp will not sell its facial-recognition technology to police departments until there is a federal law regulating the tech, the Washington Post reported on Thursday, citing the software maker’s president, Brad Smith.
The corporate response to a wave of protests over the treatment of African Americans has included pledges to increase diversity, donations to civil rights groups and, in some cases, changes in policies or practices long sought by critics. Here is a sampling:
Food giant Nestle said it is exploring a potential sale of part of its North American water business, including its well-known Pure Life brand, as it moves to focus on the better performing brands in its water division.
Fast-talking auctioneer Greg Highsmith sung out dozens of prices – “seventy-five-hundred now, $10,000 now, be able to get 15,000?” – before a North Dakotan buyer paid $27,500 for a used Caterpillar oil swabbing rig on Friday. The rig was one of more than 2,000 lots offered in an online auction of oil, gas and industrial equipment out of North Dakota’s Bakken shale region on Friday. The auction market is more active than at any point since the downturn of the 1980s, said Dan Kruse, a San Antonio-based auctioneer and founder of Superior Energy Auctions, which specializes in energy …read more […]
The safe-haven Japanese yen and Swiss franc gained on Thursday while a gauge of global equity markets fell the most in seven weeks after the Federal Reserve’s sobering outlook cast doubt on hopes for a V-shaped recovery from the coronavirus pandemic.
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