Sears Accuses ex-CEO of Looting $2B in Assets
The bankrupt retailer alleges Eddie Lampert and other investors siphoned off assets for their own gain through fraudulent spinoffs and other deals.
U.K. Watchdog Calls for Audit Market Makeover
The Competition and Markets Authority stopped short of recommending the Big Four be broken up in response to a series of high-profile audit failures.
Pier 1 Imports Hires Turnaround Expert as CFO
Deborah Rieger-Paganis says she is "committed to instilling financial discipline across the organization as we work to drive a successful turnaround."
PepsiCo Shares Hit Record on Earnings Beat
The firm's CEO cites progress on "our ambitious agenda to invest to build capabilities, strengthen our brands, and add capacity to grow."
Netflix Posts Record Quarterly Subscriber Gain
“What’s making investors nervous is that there are signs of a slowdown in the second-quarter subscriber growth,” an analyst says.
BofA Sees Net Interest Income Growth Slowing
Interest rate expectations "have been lowered, plus we have some seasonal headwinds in Q2," CFO Paul Donofrio says.
Goldman Shares Dip 3.8% on Q1 Revenue Miss
The bank's first revenue miss in two years reflected what CEO David Solomon called a “challenging” trading environment.
Campbell Soup to Sell Bolthouse Farms for $510M
The sale will complete Campbell's exit from fresh foods, which were supposed to offer faster growth than its soups and other packaged products.
Wells Fargo Shares Dip 3% on Profit Outlook
The bank's Q1 earnings beat estimates but it reduced its net interest income guidance for 2019 to a 2% to 5% decline.
Uber Revs Up for Long-Awaited, $10 Billion IPO
The offering prospectus “renewed questions about how sustainable Uber’s business actually is," showing core revenue growth slowed to 39% last year.
Dems Propose Screening Algorithms for Bias
The Algorithmic Accountability Act would require companies to ensure their automated decision-making systems comply with discrimination law.