by Christine Moukazis | Oct 27, 2020 | Business, Latest News, Wall Street
Home-rental startup Airbnb Inc plans to list its shares on the Nasdaq, setting the stage for one of 2020’s most high-profile stock market debuts. Earlier this month, Reuters reported the company was aiming to raise $3 billion in its IPO, which could give it a...
by Christine Moukazis | Oct 27, 2020 | Business, Wall Street
This past Tuesday, Steven A. Cohen, the head of Point72 Asset Management, cleared an important obstacle in his campaign to buy the New York Mets, winning the approval of Major League Baseball’s Ownership Committee. Fred Wilpon and his brother-in-law Saul Katz, the...
by Christine Moukazis | Oct 26, 2020 | Business, Latest News
McDonald’s Corp MCD.N on Friday urged a U.S. judge to dismiss a lawsuit by dozens of Black former franchise owners who accused the fast-food giant of racial discrimination for selling them underperforming stores, saying it did not want them to fail and never...
by Christine Moukazis | Oct 26, 2020 | Business, Latest News
A California appeals court on Thursday unanimously ruled against ride-hailing companies Uber Technologies Inc and Lyft Inc, saying they must reclassify their drivers in the state as employees. While the ruling does not take effect before a Nov. 3 company-sponsored...
by Christine Moukazis | Oct 26, 2020 | Business
Fintech start-up Ripple doesn’t plan on following Silicon Valley peer Coinbase in banning politics from the workplace. Brian Armstrong, the CEO of Coinbase, caused a stir late last month when he wrote a blog post outlining the company’s policy of non-engagement on...
by Christine Moukazis | Oct 26, 2020 | Business, Latest News
Quibi’s founder, Jeffrey Katzenberg, told employees on a call on Wednesday to listen to a song from the movie “Trolls” to help lift their spirits during the company’s shutdown, according to a report from The Wall Street Journal’s Benjamin...
by Christine Moukazis | Oct 22, 2020 | Business, Latest News
Purdue Pharma, the maker of OxyContin, has agreed to plead guilty to three federal criminal charges for its role in creating the nation’s opioid crisis and will pay more than $8 billion and close down the company. The money will go to opioid treatment and...
by Christine Moukazis | Oct 21, 2020 | Business, Latest News
Workers at a Florida manufacturing company said they’re feeling threatened after its president sent all employees a letter suggesting they would be laid off if Democratic nominee Joe Biden wins the presidential election, WESH, an Orlando-area ABC affiliate,...
by Christine Moukazis | Oct 21, 2020 | Business, Latest News
U.S. consumers remain uncertain about the economic environment but CEOs are feeling incredibly confident, the latest survey from the Conference Board shows. Why it matters: Confidence among chief executives jumped 19 points from its last reading in July, rising above...
by Christine Moukazis | Oct 20, 2020 | Business, Latest News
The Department of Justice and 11 U.S. states filed an antitrust lawsuit on Tuesday against Google, a unit of Alphabet (GOOG, GOOGL), accusing it of engaging in anticompetitive behavior in its search and search advertising businesses. The long-anticipated suit claims...
