News

M&A

Uber Buys Postmates in Food Delivery Bet

The $2.65 billion deal will expand Uber's delivery business as its core ride-sharing service sees "massive headwinds" due to COVID-19.

Matthew Heller
July 6, 2020
M&A

Berkshire Hathaway to Buy Dominion Energy

The conglomerate will spend $4 billion to buy the power and energy company’s natural gas transmission and storage business.
Regulation

Alexion Fined $21M in Foreign Corruption Probe

The SEC says the biotech firm made improper payments to Turkish and Russian officials to secure favorable treatment for its main drug.
Strategy

Coca-Cola to Discontinue Juice Brand Odwalla

The loss of the juice and smoothie brand will entail 300 job cuts.
Bankruptcy

Largest Pizza Hut Franchisee Files Chapter 11

NPC International has been dealing with “a perfect storm of problems” including coronavirus-related shutdowns, a massive debt load, and rising costs.
Capital Markets

U.S. Treasury Lends $700M to Troubled Trucking Company

The government will take a 29.6% fully diluted equity ownership in YRC Worldwide .
Financial Performance

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.
Legal

Cisco Sued for Discrimination Based on Caste

The state of California alleges two Cisco managers harassed a fellow Indian-American employee because he comes from India's lowest caste.
M&A

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.
Bankruptcy

Cirque du Soleil Files for Bankruptcy

The company is also terminating about 3,500 employees who were furloughed in March.
M&A

BP Sells Petrochemicals Business to Ineos for $5B

The energy giant said it met its goal to divest $15 billion a year ahead of schedule.
Applications

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.
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