FedEx Gets Boost From E-Commerce Surge
"Thank goodness that we had a seven-day network when this absolute tsunami of packages hit us," CFO Alan Graf says.
Lululemon Sees Fitness Future in Mirror
The athletic wear retailer is buying startup Mirror as the market for in home workout solutions booms amid the COVID-19 pandemic.
Telegram to Return $1.2B to ICO Investors
The messaging startup agreed to return the funds to settle charges that its digital asset offering was an unregistered sale of securities.
Watchdog Warns of ‘Significant’ PPP Fraud Risk
The GAO says "minimal" underwriting standards left the $670 billion small business rescue program vulnerable to fraud.
Fed Clamps Down on Bank Capital Distributions
The regulator is seeking to “ensure large banks remain resilient despite the economic uncertainty" from the coronavirus pandemic.
U.S. Mortgage Delinquency Rate Jumps to 7.76%
More mortgages were past due in May than at any time since 2011 as Americans continue to struggle to pay bills amid the COVID-19 pandemic.
Ally Financial’s Takeover of CardWorks Called Off
The companies agreed to terminate the $2.7 billion deal, citing the "unprecedented" impact of the COVID-19 pandemic.
D&B Seeks to Raise up to $1.38B in IPO
The company is “looking to ride the recent wave of successful new listings after the COVID-19 pandemic crushed the market for new issues."
Bill Ackman Files for Largest-Ever SPAC Offering
The investor is betting that blank-check mergers continue to be an attractive alternative to traditional IPOs amid the current market volatility.
Tech Industry Blasts Trump Halt on H-1B Visas
“This will slow innovation and undermine the work the technology industry is doing to help our country recover from unprecedented events."
Microsoft Scraps Game Streaming Platform
Microsoft tried to compete with Amazon's Twitch but its Mixer service saw "almost no growth in a medium that has otherwise been exploding."