Year: 2020

The company’s shares closed down 3.61% at $14.40 after the Wall Street Journal reported earlier that the U.S. Securities and Exchange Commission would investigate the deal. Trump told reporters the concept of the arrangement was good because it would help Kodak branch out into a new business area, but he was not personally involved in the deal. The SEC investigation is at an early stage and may not produce allegations of wrongdoing by Kodak or any individuals, the WSJ said, citing people familiar with the matter. …read more […]

Exxon Mobil Corp told employees it would begin suspending the employer match to retirement savings plans beginning in early October, said sources who received a message from the company on Tuesday. “The company intends to suspend the company match contribution to the U.S. Exxon Mobil Savings Plan for all employees covered by the Savings Plan, effective around Oct. 1, 2020.” …read more […]

(Bloomberg) — Tencent Holdings Ltd. is driving discussions to merge China’s biggest game-streaming platforms Huya Inc. and DouYu International Holdings Ltd., people familiar with the matter said, in a deal that would allow it to dominate the $3.4 billion arena.The Chinese social media titan — which owns a 37% stake in Huya and 38% of DouYu — has been discussing such a merger with the duo over the past few months, although details have yet to be finalized, said the people, who asked not to be identified because discussions are private. Tencent is seeking to become the largest shareholder in …read more […]

(Bloomberg) — Amazon.com Inc. will kick off its first Prime Day since the coronavirus outbreak later this week in India, modifying almost everything about the retail bonanza to navigate the realities of a new era.Prime Day will have the customary deep discounts, hundreds of exclusive products, new launches and cashback offers. But in a profound departure from the past, the global retailer will have a virtual operations room instead of a real one, with thousands of employees coordinating the sale from their homes, and stringent hygiene protocols for its armies of packers, sorters and deliverymen.India is a test case for …read more […]

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(Bloomberg) — Oil was steady near $41 a barrel in New York after the longest run of gains in six weeks on signs U.S. crude stockpiles extended declines.The American Petroleum Institute reported crude inventories dropped by 8.59 million barrels last week, with gasoline stockpiles resuming draws, according to people familiar with the figures. Meanwhile, futures rose 1.7% on Tuesday after a massive blast at Lebanon’s main port rocked Beirut, raising concerns about fresh instability in the Middle East. Authorities didn’t immediately say whether it was an accident or an attack.Oil has struggled to maintain its momentum after rallying from a …read more […]

The coalition of more than 30 state attorneys general called on the government to act or allow states to do so, saying in a letter to U.S. health agencies that Gilead “has not established a reasonable price” for remdesivir. “Gilead should not profit from the pandemic and it should be pushed to do more to help more people,” the letter said. …read more […]

(Bloomberg) — Autonomous driving engineer Anthony Levandowski was ordered to spend 18 months in prison for stealing trade secrets from Google as he defected to Uber Technologies Inc., in one of the highest-profile criminal cases to hit Silicon Valley.U.S. District Judge William Alsup in San Francisco imposed the sentence Tuesday after Levandowski pleaded for mercy and prosecutors said anything short of locking him up would render similar crimes by future engineers a mere cost of doing business. Alsup subtracted nine months from what government lawyers wanted, and said the engineer should serve his term only once the coronavirus has been …read more […]

(Bloomberg) — Gold’s scorching rally gathered more force, with prices driven higher into record territory above $2,000 an ounce as investors assessed prospects of more stimulus to combat the pandemic’s fallout, another slide in U.S. real yields and increased geopolitical risks.Bullion is up more than 30% this year, and could extend gains as governments and central banks respond to slowing growth with vast amounts of support. The haven’s allure as a store of wealth is strengthening as investors face the prospect of a long global recovery, and the debasement of fiat currencies, with banks including Goldman Sachs Group Inc. forecasting …read more […]

(Bloomberg) — Square Inc. second-quarter sales jumped 64% on increased online business activity and a surge in the number of people using the company’s peer-to-peer payment app.The San Francisco-based company said net revenue in the period ending June 30 was $1.92 billion, compared with $1.17 billion a year earlier. It lost 3 cents per share in the quarter.Square released the results a day ahead of schedule after Bloomberg News reported the revenue surge earlier on Tuesday. The stock jumped about 11% in extended trading.The pandemic, and the accompanying economic downturn, have hurt small businesses that rely on Square’s payments tools. …read more […]

Say goodbye to Phil Schiller’s excited talk and longing glances at the iPhone, as the Apple head of marketing transitions to Apple Fellow. …read more […]

Qualcomm (QCOM) ended July with a bang. The semiconductor giant saw out the month by posting an estimate beating FQ3 report. Exuberant investors sent shares up by a mighty 20% in the following sessions, resulting in Qualcomm stock notching a new all-time high.While the results bought in beat both for the top and bottom line, the Street’s most buoyant reaction was reserved for a surprise not reflected in the quarter’s balance sheet.The news Qualcomm had signed a long-term patent licensing agreement with Chinese telecom giant Huawei sent ripples of excitement across the Street. Add into the mix the $1.8 billion …read more […]

As TikTok — one of the hottest names in social media — scrambles to stay alive in the U.S., could the federal government extract a cut for a possible deal? …read more […]

Yahoo Finance catches up with Planet Fitness CEO Chris Rondeau moments after his second quarter earnings release. Here’s is what he said about the future of gyms. …read more […]

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