Purdue Pharma OxyContin maker Purdue Pharma files for bankruptcy protectionReuters - Mike SpectorNEW YORK (Reuters) - OxyContin maker Purdue Pharma LP filed for bankruptcy protection Sunday night, succumbing to pressure from more than 2,600 lawsuits alleging the company helped fuel the deadly U.S.
Adam Neumann WeWork IPO spells rough landing for CEO NeumannReuters - By Herbert LashNEW YORK (Reuters) - Adam Neumann showed he can capitalize on troubled times a decade ago, tapping into demand for workspace by those forced out of jobs in the aftermath of the financial crisis to grow
Oil Global spare oil capacity in U.S. hands after Saudi outageReutersLONDON (Reuters) - An attack on Saudi oil facilities on Saturday is believed to have disrupted half the country's production capacity, making the United States the only real holder of the global supply
Business Deutsche Bank is first to settle bond-rigging lawsuit, amid federal probeReuters - By Jonathan StempelNEW YORK (Reuters) - Deutsche Bank AG will pay $15 million to resolve claims it conspired to rig prices of bonds issued by Fannie Mae and Freddie Mac, becoming the first of 16 financial services companies
Subaru Sells 10-Millionth Vehicle In The U.S.Business Insider - markets.businessinsider.comCAMDEN, N.J., Sept. 13, 2019 /PRNewswire/ -- Subaru of America, Inc. today announced the sale of its 10-millionth vehicle in the U.S. The new owner took delivery of a 2019 Subaru Impreza at the oldest
Business WeWork considers dramatic valuation cut in IPOReuters - Joshua Franklin(Reuters) - WeWork owner The We Company may seek a valuation in its upcoming initial public offering of between $10 billion and $12 billion, a dramatic discount to the $47 billion valuation it achieved
News PG&E Agrees To Pay $11 Billion Insurance Settlement Over California WildfiresNPR - Bill ChappellUtility giant PG&E has agreed to a second large settlement over devastating Northern California wildfires, saying it will pay $11 billion to resolve most insurance claims from the wine country fires in
SpaceX SpaceX completes over 700 tests of Crew Dragon’s SuperDraco enginesDigital Trends SpaceX has completed over 700 tests of its Crew Dragon SuperDraco engines as it pushes to use the spacecraft to bring astronauts to the International …
Apple Card Apple Card partner Goldman Sachs expects 26% AAPL hit over misunderstanding9to5Mac - Ben LovejoyApple Card partner bank Goldman Sachs expects a significant AAPL hit over a predicted misunderstanding by investors and analysts. It says the downside for the stock is likely to hit 26% thanks to the it
Google Google agrees to pay France $1.1 billion to end tax investigationCult of Mac - Luke DormehlGoogle will pay a total of $1.1 billion to end a four-year probe into its tax activities in France. This is a combination of fine and repayment of additional taxes Google didn’t pay first time around.
Goldman Sachs Apple disputes negative Goldman call hitting the stock, says TV+ will not have 'material impact'CNBC - Michael Sheetz Apple disputed the negative call by Goldman Sachs on Friday, which hit the stock, taking issue with the firm's negative characterization on how Apple …
MoviePass MoviePass will shut down for good on Sept. 14CNBC - Annie Palmer MoviePass announced on Friday it's shutting down the discount ticketing service on Sept. 14. Shares of MoviePass parent company Helios and Matheson …
Play buttonTesla Tesla tests Model S with an even faster ‘Plaid’ powertrain at Laguna SecaThe Verge - Sean O'KaneTesla teased a prototype Model S that Elon Musk says can go faster than the “Ludicrous” speed the company’s cars currently achieve. The new powertrain is dubbed “Plaid” and is “about a year away from Musk
Technology France to block Facebook's Libra cryptocurrency in EuropeThe Guardian - Richard Partington and agenciesFrance has said it will block the development of Facebook’s Libra in Europe, dealing the cryptocurrency a fresh blow. The French finance minister, Bruno Le Maire, said plans for Libra could not move ahead
Mobile Technology Toyota tests solar-powered Prius in quest for plugless electric carReuters - Kevin BucklandTOKYO (Reuters) - Inspired by new ultra-thin solar panels developed for satellites, a project led by Toyota Motor Corp is experimenting with a sun-powered Prius that it hopes will one day require no plugging
IPOs German software firm TeamViewer's IPO already oversubscribedReuters - by Emma ThomassonBERLIN (Reuters) - The initial public offering for German software company TeamViewer was immediately oversubscribed when its shares went on offer on Thursday, putting it on track to reach the 5.5 billion
Kraft Heinz Where's the fake beef? Not at Kraft Heinz, investors worryReuters - By Richa Naidu and Siddharth CavaleCHICAGO (Reuters) - Investors are chewing out Kraft Heinz Co (KHC.O) for failing to lay out a full strategy for how it plans to compete in the roughly $3 billion-a-year plant-based protein market. At Kraft
Huawei Huawei’s ‘Secret Plan’ To Defeat Trump: New ReportForbes - Zak DoffmanHuawei is pushing forwards with a “secret plan to beat American trade war sanctions,” according to a new report from Nikkei Asian Review. At issue is the U.S. blacklist—in place in part since May, its
OPEC OPEC cuts 2020 oil demand forecast, urges effort to avert new glutReuters - By Alex LawlerLONDON (Reuters) - OPEC on Wednesday cut its forecast for growth in world oil demand in 2020 due to an economic slowdown, an outlook the producer group said highlighted the need for ongoing efforts to
Business U.S. firms sour on their future in China as trade war bites: AmChamReuters - by John RuwitchSHANGHAI (Reuters) - The China-U.S. trade war is souring the profit and investment outlook for U.S. companies operating in the world's second-biggest economy, a survey by a prominent American business
Sandwiches McDonald's Just Started Selling the New Spicy Chicken Sandwich That Is a Huge Threat to Chick-fil-A and PopeyesInc Magazine - Peter EconomyToday, McDonald's officially introduced its entry in the Great Chicken Sandwich War of 2019: the Spicy BBQ Chicken Sandwich. Of course, suspense has been building about this new product introduction ever
California State Senate California Senate passes bill to tighten 'gig' worker ruleReuters - By Alexandria SageSAN FRANCISCO (Reuters) - The California State Senate voted on Tuesday to pass a bill that would make it much more difficult for gig economy companies like Uber Technologies Inc and Lyft Inc to classify
Hong Kong Stock Exchange Hong Kong makes $37 billion bid for the London Stock ExchangeCNN - By Hanna Ziady, CNN BusinessLondon (CNN Business) — Hong Kong has just made a surprise £30 billion ($37 billion) takeover bid for the London Stock Exchange. Hong Kong Exchanges and Clearing (HKXCF) (HKEX) said Wednesday it had made
Business U.S. corporate bond, IPO markets heat up as recession fears persistReuters - David RandallNEW YORK (Reuters) - Corporate America appears to be rushing to get the most out of the decade-long bull market in stocks and bonds before a possible recession and election-year stock market volatility
Apple Arcade Netflix and Disney Shares Fall After Apple Unveils $4.99 Streaming ServiceForbes - Sergei KlebnikovTopline: Shares of Netflix and Disney dropped on Tuesday, following an announcement that Apple’s new rival TV service will be less expensive than any other major streaming service. Apple announced Tuesday
WeWork WeWork looks like a bubble waiting to burstThe Guardian - Nils PratleyOne way not to recognise a potentially heavy investment loss is to close your eyes, ignore the evidence and pretend nothing has happened. This seems to be Masayoshi Son’s approach at WeWork. The SoftBank
Bitcoin Bitcoin Blow As Coinbase And Ripple Crash Out Of U.S. Startup Top 10Forbes - Billy BambroughBitcoin's epic 2017 bull run propelled many cryptocurrency startups into the stratosphere, but most have now crashed back down to earth. The bitcoin price, which rose from under $1,000 per bitcoin to $20,000
Uber Uber lays off 435 people across engineering and product teamsTechCrunch - Megan Rose DickeyUber has laid off 435 employees across its product and engineering teams, the company announced today. Combined, the layoffs represent about 8% of the organization, with 170 people leaving the product
Business IBM, Fraunhofer partner on German-backed quantum computing research pushReuters - By Douglas BusvineFRANKFURT (Reuters) - IBM is joining forces with a German research institute to explore the potential of quantum computing, backed by a government plan to invest 650 million euros ($717 million) over years
