News

The Economy

U.S. Job Growth Shatters November Forecasts

The 266,000 jobs gain shows the labor market "is continuing to provide the key foundation for the U.S. economy.”

Matthew Heller
December 6, 2019
IPOs

Saudi Aramco Plans $25.6B Share Sale in Record-Breaking IPO

The IPO, which is the largest in history, would value the company at $1.7 trillion.
Fraud

Ex-Celadon Execs Accused of Accounting Fraud

The former COO and CFO allegedly orchestrated a scheme that enabled the trucking company to hide tens of millions of dollars in losses.
Tax

Biden Unveils Plan for $3.2 Trillion in Tax Hikes

The plan, which omits a wealth tax, is "certainly more modest than those of other leading contenders" for the Democratic presidential nomination.
Strategy

Verint Systems to Spin off Cyber Intelligence Unit

Separating the intelligence and customer engagement businesses "at this stage of their evolution will allow each to unlock its full potential."
Strategy

Postmates Closes in Mexico to Focus on U.S.

The food-delivery startup is also laying off employees in the U.S. as it regroups after shelving an initial public offering.
Strategy

Expedia CEO, CFO Resign After Disagreement with Board

Chairman Barry Diller said senior management and the board disagreed on strategy.
Global Business

Japan’s Cabinet Approves $122B Stimulus Package

The country has struggled with a slump of exports, a sales tax hike in October, and natural disasters.
Financial Performance

Workday Tops Q3 Estimates But Stock Dips 1.9%

CFO Robynne Sisco cautioned that the Scout RFP acquisition and new products launching next year would have a delayed impact on its results.
Legal

Spinoff Sues Honeywell Over Asbestos Liabilities

Garrett Motion says its indemnification agreement with Honeywell is "so one-sided as to be manifestly unconscionable."
M&A

Cleveland-Cliffs to Buy AK Steel in $1.1B Stock Deal

The steelmaker has been pummeled amid trade uncertainty.
The Economy

U.S. Factory Activity Drops for 4th Straight Month

“There is nothing to point to in [the November factory activity] report that signals a bottom in domestic manufacturing."
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