News

Financial Performance

Macy’s Shares Fall 13% on Big Earnings Miss

Same-store sales improved in the second quarter but profit was hit by heavy markdowns to clear unsold merchandise.
Fraud

SEC Freezes Accounts of Digital Token Promoter

Regulators said Reginald Middleton and his firm Veritaseum failed to register and fraudulently sold ‘VERI’ tokens.
IPOs

WeWork IPO Filing Reveals Massive Loss Last Year

The company lost more than $1.6 billion last year on just $1.8 billion in revenue.
M&A

CBS, Viacom to Reunite After 13 Years Apart

The reunification of Sumner Redstone's media empire will create "a world-class, multiplatform media organization," his daughter says.
The Economy

Core CPI Rises 0.3% for Second Straight Month

The July inflation readings reduce "the chances that the U.S. central bank would cut rates by half a percentage point" in September.
Applications

Verizon Selling Tumblr to WordPress Owner

The blogging site was inherited as part of Verizon’s 2017 acquisition of Yahoo, which bought Tumblr in 2013 for $1 billion.
Credit

Rolls Royce Downgraded on Cash Flow Worries

The company said it has incurred charges dealing with faulty engines and preparing for a rough Brexit.
People

UPS Hires PepsiCo’s Brian Newman as CFO

“It is clearly a pivot for [UPS] to bring in new blood and new talent at a crucial time for the company."
M&A

Aramco Makes India Move With Reliance Stake

The world's biggest oil producer has agreed to buy 20% of Reliance Industries' chemicals and refining business in a deal valued at $15 billion.
M&A

Trinity Merger and Broadmark to Merge

The combined company will create a commercial mortgage REIT with an expected equity value of $1.5 billion.
M&A

BlackRock Buys 30% Stake in Owner of Sports Illustrated, Nautica

The deal values the brand management company at about $4 billion.
Risk Management

Mattel Shares Tank on Whistleblower Disclosure

The toy maker says it canceled a $250 million bond offering after receiving an "anonymous whistleblower letter."
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