Breaking News: Business
Boeing is trying again to launch its Starliner capsule to the space station — here’s what’s at stake
A United Launch Alliance Atlas V rocket with Boeing’s Starliner spacecraft aboard is seen as it is rolled out to the launchpad for the OFT-2 mission scheduled to lift off on May 19, 2022. Joel Kowsky | NASA Boeing is set to make another attempt to reach the International Space Station with its Starliner capsule […]
Read More
McDonald’s to sell Russian business to existing Siberian licensee
The Kremlin’s towers and passers-by are seen reflected in the window of a closed McDonald’s restaurant in Moscow on May 16, 2022. Natalia Kolesnikova | AFP | Getty Images McDonald’s said Thursday it has struck a deal to sell its Russian business to Alexander Govor, its current licensee in the market. Govor will acquire all […]
Read More
Spirit Airlines urges shareholders to reject JetBlue’s tender offer
A Spirit Airlines airplane taxis for takeoff at Denver International Airport in Denver, Colorado, U.S., on Monday, Feb. 7, 2022. Michael Ciaglo | Bloomberg | Getty Images Spirit Airlines’ board on Thursday urged its shareholders to reject JetBlue Airways’ hostile takeover attempt, citing regulatory hurdles and accusing the airline of trying to derail its planned […]
Read More
CDC now investigating 180 cases of kids with acute hepatitis of unknown cause
The Centers for Disease Control and Prevention (CDC) headquarters in Atlanta, Georgia. Tami Chappell | Reuters The Centers for Disease Control and Prevention is now investigating 180 cases of children who suddenly developed severe hepatitis across 36 states and territories, an increase of 71 cases since the public health agency’s last update earlier this month. […]
Read More
Melvin Capital says it’s winding down funds and returning money to investors during market turmoil
Gabe Plotkin, chief investment officer and portfolio manager of Melvin Capital Management LP, speaks during the Sohn Investment Conference in New York, May 6, 2019. Alex Flynn | Bloomberg | Getty Images Melvin Capital Management, the hedge fund burned by the GameStop mania, said it will unwind its funds and return cash to investors as […]
Read More
Kohl’s says two top executives are leaving, as company seeks buyer
Vehicles sit parked in front of a Kohl’s department store in Ashland, Ky. Luke Sharrett | Bloomberg | Getty Images Kohl’s said Wednesday that it is losing two of its top executives, as the retailer searches for a potential buyer amid pressure from activists to sell the business. Doug Howe, Kohl’s chief merchandising officer, is […]
Read More
Under Armour CEO Patrik Frisk to step down, interim chief will take over June 1
Patrik Frisk, recently appointed Chief Executive Officer Of Under Armour, speaks at the 2020 Under Armour Human Performance Summit on January 14, 2020 in Baltimore, Maryland. Olivier Douliery | AFP | Getty Images Under Armour said its president and chief executive officer, Patrik Frisk, will be stepping down, effective June 1, as the sportswear retailer […]
Read More
U.S. faces unnecessary Covid deaths if Congress fails to pass funding bill, top health official warns
Top U.S. health officials on Wednesday reiterated their calls for Congress to pass funding for the nation’s fight against Covid-19, warning that failure to act now would result in an unnecessary loss of life in the fall and winter. Their warning comes as new infections and hospitalizations are on the rise as the more transmissible […]
Read More
Senate panel investigates Abbott tax practices after contamination shut down baby formula plant
The Senate Finance Committee on Wednesday opened an investigation into Abbott Labs, the company at the center of a baby formula shortage in the U.S. Committee Chairman Sen. Ron Wyden, D-Ore., sent a letter to CEO Robert Ford requesting information on Abbott’s international tax practices and $8 billion in stock buybacks the company has authorized […]
Read More
Hasbro slams activist investor’s proposed board directors as proxy battle heats up
Game maker Hasbro. Justin Sullivan | Getty Images Hasbro is going on the offensive against an activist investor wants to add new members to the company’s board and spin off the lucrative unit that includes Dungeons & Dragons. On Wednesday, the toymaker issued a letter to shareholders detailing why its current slate of board nominees […]
Read More