Business & Finance News
PayPal Holdings Inc said on Thursday it was pledging $530 million to support black and minority-owned businesses in the United States and foster diversity, amid worldwide protests over racial injustice.
Billionaire investor William Ackman’s hedge fund Pershing Square Capital Management has filed confidentially with U.S. regulators for an initial public offering (IPO) of a blank-check investment vehicle that could raise more than $1 billion and be the biggest of its kind, according to people familiar with the matter.
Drivers working for ride-hailing services such as Uber Technologies Inc and Lyft Inc will now be considered employees under California’s new gig worker law, the state’s public utilities agency said on Thursday.
U.S. stock futures fell sharply on Thursday on jitters over a second wave of coronavirus infections and a grim forecast for the economy from the Federal Reserve.
Layoffs in the United States are abating, but millions who lost their jobs because of COVID-19 continue to draw unemployment benefits, suggesting the labor market could take years to heal from the pandemic even as businesses resume hiring workers.
Oil prices fell on Thursday, hit by another record build-up in U.S. crude inventories and the U.S. Federal Reserve’s projections that the world’s biggest economy would shrink 6.5% this year.
Takeda Pharmaceutical Co Ltd has agreed to sell a portfolio of over-the-counter and prescription drugs marketed in the Asia Pacific region to South Korea’s Celltrion Inc for $278 million, it said on Thursday
Anglo-Dutch Unilever plans to become a single holding company based in Britain, unwinding a dual-headed structure which has been in place for 90 years.
Moderna Inc on Thursday confirmed it plans to start a trial of 30,000 volunteers of its much-anticipated coronavirus vaccine in July as the company enters the final stage of testing.
Planemaker Bombardier Inc is to cut up to 600 jobs in its Northern Ireland operations, it said on Thursday, as part of plans announced last week to cut 2,500 jobs or about 11% of the workforce in its global aviation unit.
JPMorgan has promoted Jonas Wikmark as co-head of Nordics banking to drive growth in one of its major European markets, according to a memo seen by Reuters.
Unilever proposed collapsing its Anglo-Dutch legal structure into a single holding company based in Britain on Thursday, nearly two years after shareholders sank an earlier plan to move its headquarters to the Netherlands.
U.S. stock futures extended declines on Thursday, a day after the Federal Reserve’s economic forecast confirmed that the pain from the coronavirus outbreak will be felt for years, with investors also nervous about a second wave of infections.
Volkswagen’s management board on Thursday apologised for the company’s publication on its Instagram page of a racist advert and said the clip was published because of a lack of cultural sensitivity rather than because of racist intentions.
Walmart Inc will stop keeping personal care products designed for people of color in locked display cases, the retailer said, after the practice drew flak online with many saying it suggested customers for these products cannot be trusted.
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