By Anna Banacka and Anna Koper WARSAW/GDANSK, Poland (Reuters) – Shares in Polish e-commerce group Allegro leapt more than 60% on their debut on Monday, giving the company a market value of almost $19 billion in Europe’s biggest initial public offering (IPO) so far this year. Founded more than 20 […]
Business
Mallinckrodt, ensnared in opioid crisis, seeks Chapter 11
A New Jersey drugmaker ensnared in the fallout from America’s opioid crisis is seeking bankruptcy protection. Mallinckrodt said Monday that it had begun Chapter 11 proceedings to restructure debt and resolve “several billion dollars of otherwise unmanageable potential legal liabilities.” The drugmaker, one of the highest-volume opioid producers in the […]
India, South Africa ask WTO to ease IP rules for COVID-19
FILE – In this July 30, 2020 file photo, Kai Hu, a research associate transfers medium to cells, in the laboratory at Imperial College in London. Imperial College is working on the development of a COVID-19 vaccine. South Africa and India on Friday Oct. 2, 2020, asked the World Trade […]
Top Wall Street Derivatives Cop to Step Down
With James McDonald as enforcement director, the Commodity Futures Trading Commission filed 113 enforcement actions in the 2020 fiscal year, which ended Sept. 30. Photo: andrew kelly/Reuters WASHINGTON—The chief enforcement watchdog of U.S. derivatives markets is stepping down as his agency wraps up some of its largest investigations. James McDonald, […]
Ford CEO Jim Farley replaces CFO Tim Stone with John Lawler in shake-up
CLOSE Jim Farley, of Ford Motor Co., talks about the future of the automobile and how Ford will innovate and change demand like they did with the Model T. Detroit Free Press At 8 a.m. Thursday on the first day of Jim Farley stepping into his new CEO role at […]
As the jobs recovery slows, moms, African-Americans and government workers are falling behind
Among the report’s scariest signs? The share of Americans working or looking for work, known as the labor-force participation rate, declined among prime working ages (25-54) in September. The drop was driven by plunging participation rates among women, just as the school year went into full swing in much of […]
US Unemployment Rate Falls To 7.9% In September: Govt
The United States added a less-than-expected 661,000 jobs in September but the unemployment rate fell to 7.9 percent, the Labor Department said Friday, underscoring the economy’s tortured recovery from Covid-19. The positions gained last month were less than half of the upwardly revised nearly 1.5 million positions added in August, […]
Stocks Finish Lower as Trump Tests Positive for Covid-19
Stocks ended lower Friday after President Donald Trump said he tested positive for the coronavirus and the U.S. added fewer jobs in September than forecast. The Dow Jones Industrial Average, which had tumbled on the news, ended down 134 points, or 0.48%, at 27,682, the S&P 500 declined 0.96% and […]
Coppell’s Caliber Home Loans files to go public, capitalizing on mortgage and refinancing boom
/cloudfront-us-east-1.images.arcpublishing.com/dmn/YXKGYFGAJRFX5GAKJFG3FJ2ZPU.jpg)
Coppell-based home mortgage company Caliber Home Loans is seeking to raise up to $200 million in an initial stock offering. The fast-growing home loan firm filed Friday with the U.S. Securities and Exchange Commission for its first public securities sale. Record-low interest rates are fueling a home buying and refinancing […]
Conveyor system company expands in Pasco County
SAN ANTONIO — A conveyor system company which first opened in Pasco in 2014 will invest $2 million to expand its business at the One Pasco Center business park, the Pasco Economic Development Council announced last week. The company, Conveyor Consulting and Rubber Company, plans to build two new facilities, […]
Goldman, Citi, HSBC Halt U.K. Office Return on Johnson Plea
(Bloomberg) — Banks from Goldman Sachs Group Inc. to Citigroup Inc., and HSBC Holdings Plc have hit pause on plans to return workers in London after Prime Minister Boris Johnson appealed to Britons to work from home to help tame a resurgent coronavirus. © Bloomberg A pedestrian crosses a bridge […]
Is Credit Card Relief Little Help? Check Out Debt Management | Lifestyle News
By MELISSA LAMBARENA of NerdWallet As cardholders experience financial difficulties due to COVID-19, some credit card issuers are promoting their hardship programs. Once a well-kept secret, these programs are now more prominently advertised, offering things like deferred payments and lower interest rates. But not all cardholders will qualify or receive […]
Home at last: Formerly homeless vets are moving into Brighton Marine’s new 25-unit building
“This supports the ability to really address all of the issues a person is a facing,” said Bruce Buckley, CEO of Soldier On, which runs similar facilities in Agawam, Chicopee, Northampton, and Pittsfield. “If you address most but not all of them, we’ve found, it doesn’t really provide a working […]
Blizzard cofounder Mike Morhaime launches new gaming endeavor Dreamhaven
Mike Morhaime, the cofounder of Blizzard Entertainment, has launched a new game company called Dreamhaven, and it has established two new game studios: Moonshot and Secret Door. The Irvine, California-based company is a pretty good clue that Morhaime and his wife Amy Morhaime weren’t quite done with games when they […]
Walmart says it needs to hire 20,000 holiday workers just for e-commerce
/cloudfront-us-east-1.images.arcpublishing.com/dmn/IGEJZGKFMR5W4HSILFFD36H2AQ.jpg)
Walmart says shoppers aren’t going to start acting radically different when the holiday shopping season begins. The world’s largest retailer expects the habits shoppers have developed during the pandemic to define the 2020 holiday shopping season, and it’s planning accordingly. Walmart is hiring 20,000 seasonal workers for its e-commerce fulfillment […]
COVID-19 takes a grim toll on America’s small businesses
Brunetti’s Pizza and Deli opened in Scranton, Pa., in 1958 and was so beloved by the community that customers would volunteer to shovel its sidewalk on snowy days. Mike Brunetti, the son of the founder, and his wife Therese took over the operation. They got engaged in the shop and […]
Stocks dip, dollar up as data warns of sputtering recovery
NEW YORK (Reuters) – Shares dipped and the dollar ticked up near two-month highs on Wednesday as data reaffirmed lingering concerns that new restrictions to counter coronavirus infections will hurt the economic recovery. The speed of recovery in U.S. business activity slowed down in September, with gains at factories more […]
German Cabinet approves 2021 budget with high borrowing
Germany’s Cabinet on Wednesday approved a 2021 budget that foresees significant borrowing for the second consecutive year as Europe’s biggest economy tries to lessen the fallout of the coronavirus crisis. The budget plan calls for spending of 413.4 billion euros ($485 billion) next year, down from this year’s exceptionally high […]
UBS Buying Credit Suisse? Give It a Chance
UBS Chairman Axel Weber and his counterpart Urs Rohner at Credit Suisse are talking about a tie-up that would help the merged bank compete better against U.S. and Asian rivals, Inside Paradeplatz reported on Monday. Weber would stay on beyond his expected departure in 2022 while Credit Suisse Chief Executive Thomas Gottstein would […]
NY Sports Club latest chain to seek bankruptcy protection
Damian J. Troise, Ap Business Writer Updated 10:30 am PDT, Monday, September 14, 2020 FILE – In this Feb. 7, 2013 photo, a man walks past a shuttered New York Sports Club on Water St. in New York. Town Sports International Holdings Inc., the owner of New York Sports Club and […]