News

Financial Performance

Marriott Posts Big Loss, Sees Recovery Signs

Marriott’s shares rose as the company reported that it it is seeing "steady signs" of global travel demand returning.

Matthew Heller
August 10, 2020
The Economy

U.S. Job Gains Slow to 1.8M in July

"The downturn was so big — the hole that was dug was so deep — that it will still take probably at least a couple of years to dig ourselves out."
Regulation

Capital One Fined $80 Million Over 2019 Hack

The Federal Reserve is also requiring the bank to improve controls.
Financial Performance

Zynga Rides Gaming Binge to Record Quarter

“We are living in unprecedented times and more people than ever before are turning to games for entertainment and a sense of community."
Financial Performance

MetLife Earnings Tumble 43% to $758M in Q2

The insurer's profit drop reflected a 13% decline in net investment income and $710 million in net derivative losses.
Health Benefits

Teladoc Buys Livongo in Telemedicine Mega-Deal

The $18.5 billion merger underscores the growth potential of telemedicine as the coronavirus pandemic accelerates the use of virtual health platforms.
Bankruptcy

Virgin Atlantic Files for Chapter 15 Bankruptcy Protection

The U.K. based carrier is pursuing a $1.5 billion restructuring.
The Cloud

Rackspace Falls 20% After IPO

The company similarly flopped in its initial debut 12 years ago.
Legal

Engineer Gets 18 Months in Google Secrets Case

Anthony Levandowski had pleaded guilty to stealing thousands of files from Google's self-driving car program to benefit himself and Uber.
Financial Performance

BP Halves Dividend, Posts $16.8B Loss in Q2

The energy giant was forced to write down the value of exploration assets by $6.5 billion due in part to the decline in oil and gas prices.
COVID-19

Top CEOs Urge Congress to Save Small Firms

More than 100 executives said small businesses need "much more significant and sustained support" than the PPP to weather the COVID-19 pandemic.
Bankruptcy

Men’s Wearhouse Owner Files for Bankruptcy

Tailored Brands is the latest of more than 20 private and public retailers to have declared bankruptcy this year.
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