Uber trucking ambitions in lower gear after Otto deal Uber Technologies Inc’s drive to become a major player in the trucking business is off to a bumpy start, with analysts and industry executives questioning what exactly the company can bring to the sprawling $700-billion industry. The San Francisco ride-services giant […]
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Business
Boeing to restructure defense, space unit Boeing Co (BA.N) said on Tuesday it would restructure its defense, space and security (BDS) division into smaller units and cut about 50 executive positions, as the world's largest plane maker seeks to make its business more responsive to customers. The business, which accounted […]
Time Inc to cut 300 positions, or 4 percent of workforce Time Inc (TIME.N) said on Tuesday it is eliminating 300 positions, or 4 percent of its workforce, through layoffs and buyouts, according to an internal memo reviewed by Reuters. The cuts were being made as the New York-based media […]
U.S. fashion retailer J. Crew launches debt restructuring deal J. Crew Group Inc disclosed terms on Tuesday of a debt restructuring deal that would roughly cut in half the value of its nearly $567 million in bonds, as well as extend their maturity by two years, after receiving the backing […]
Chinese insurer reportedly detained amid financial probe The Chinese insurer that owns New York City’s Waldorf Astoria Hotel said Wednesday its chairman was unable to perform his duties following a report he was detained by regulators amid accusations of possible financial misconduct. Anbang Insurance Group Ltd. Chairman Wu Xiaohui was […]
U.S. federal government can pay bills through early September The U.S. federal government will have enough cash flow to pay its bills through at least early September despite the limit on more government borrowing, Treasury Secretary Steven Mnuchin said on Monday, while urging lawmakers to raise the debt limit soon. […]
U.S. recession remote in next 12 months U.S. recession remote in next 12 months:- Chances are remote the U.S. economy will fall into a recession in the next 12 months despite a recent flattening of the U.S. yield curve suggesting growing recession risk, Deutsche Bank's economists said on Monday. Based […]
GE wins U.S. antitrust approval for Baker Hughes deal General Electric Co (GE.N) won U.S. antitrust approval to merge its oil and gas business with Baker Hughes Inc (BHI.N) to form a new publicly traded company, the Justice Department said on Monday. GE and Baker Hughes announced the deal in […]
U.S. Treasury unveils financial reforms, critics attack By Pete Schroeder and Lisa Lambert The U.S. Treasury Department unveiled a sweeping plan on Monday to upend the country's financial regulatory framework, which, if successful, would grant many items on Wall Street's wishlist. The nearly 150-page report suggested more than 100 changes, […]
MacArthur fundraiser with Trump raises more than $800K President Donald Trump headlined a fundraiser for New Jersey Rep. Tom MacArthur on Sunday afternoon, raising more than $800,000 for the two-term Republican congressman, according to a spokesman. The fundraiser, at Trump National Golf Club in Bedminster, was the first personal fundraiser […]
