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Business News

Kraft Heinz Discloses SEC Probe, Misses Earnings Forecasts | The Wall Street Journal
The Wall Street Journal | February 22, 2019
Kraft Heinz on Thursday wrote down the value of its Kraft and Oscar Mayer brands by $15.4 billion, disclosed an investigation by federal securities regulators and slashed its dividend, sending its shares plunging after hours.
Pinterest Files Confidentially for IPO | The Wall Street Journal
The Wall Street Journal | February 22, 2019
Pinterest has confidentially filed paperwork with the Securities and Exchange Commission for an initial public offering, joining a parade of highly valued technology startups planning to list their shares in 2019.
U.S. Campaign Against Huawei Runs Aground in an Exploding Tech Market | The Wall Street Journal
The Wall Street Journal | February 22, 2019
The Chinese company’s low prices outweigh spying concerns for many countries ramping up 5G spending, in particular the pivotal internet economy of India. “The perception here is that the U.S. action is more a matter of foreign policy.”
Apple, Goldman Sachs Team Up on Credit Card Paired With iPhone | The Wall Street Journal
The Wall Street Journal | February 22, 2019
The companies hope to lure cardholders by offering them extra features on Apple’s Wallet app, which will let them set spending goals, track their rewards and manage their balances.
U.S. Bets on China's Special Envoy | The Wall Street Journal
The Wall Street Journal | February 22, 2019
As U.S.-China trade talks reach a pivotal point, the Trump administration is counting on the Chinese leader’s special envoy, Liu He, to get Beijing to accept tough new strictures that are increasingly controversial in Beijing.
Business Investment Falters Amid Growing Global Economic Uncertainty | The Wall Street Journal
The Wall Street Journal | February 22, 2019
Demand for long-lasting goods produced by U.S. factories increased for the second month in a row in December, driven by orders for transportation equipment.
U.S. Existing Home Sales Drop 1.2% in January | The Wall Street Journal
The Wall Street Journal | February 22, 2019
Sales of previously owned homes fell in January, a sign that demand for housing continued to cool at the start of the year.
U.S. Jobless Claims Fell Last Week | The Wall Street Journal
The Wall Street Journal | February 22, 2019
The number of Americans filing applications for new unemployment benefits fell last week, a signal of labor market tightness
Sackler Sought to Avoid Comparison of OxyContin to Morphine, Documents Show | The Wall Street Journal
The Wall Street Journal | February 22, 2019
A former Purdue Pharma LP executive and member of the company’s controlling family worked to ensure its top-selling pain medication OxyContin didn’t develop the end-of-life reputation of morphine.
Departing Caesars CEO to Stay Longer, as Revenue Increases | The Wall Street Journal
The Wall Street Journal | February 22, 2019
Caesars Entertainment, which is being pushed to consider a sale by activist investor Carl Icahn, reported that revenue rose in the latest quarter and its departing chief executive will stay on longer than expected.
Tesla's Model 3 Loses Recommended Status From Consumer Reports | The Wall Street Journal
The Wall Street Journal | February 22, 2019
Tesla’s Model 3 has lost its recommended status from Consumer Reports, less than a year after the magazine awarded it the coveted designation.
Ford Investigating Process for U.S. Emissions Certification | The Wall Street Journal
The Wall Street Journal | February 22, 2019
Ford Motor said it will investigate its processes for U.S. emissions certification compliance after a group of employees raised concerns about its analytical modeling.
Zion Williamson's Ripped Sneaker Puts Nike in a Bad Spot | The Wall Street Journal
The Wall Street Journal | February 22, 2019
A Nike sneaker worn by Duke University basketball star Zion Williamson, who is expected to be the top pick in this summer’s National Basketball Association draft, ripped open during a high-profile game, at least temporarily bringing down the athlete, and with him a sliver of the company’s share ...
Baidu Reports 50% Quarterly Profit Drop but Revenue Beats Projections | The Wall Street Journal
The Wall Street Journal | February 22, 2019
Baidu reported stronger-than-expected revenue in the most recent period, driven by its search-engine business and artificial-intelligence initiatives.
AT&T Gives 3G Service Three Years to Live | The Wall Street Journal
The Wall Street Journal | February 22, 2019
AT&T said it plans to stop serving 3G wireless devices in early 2022 as it makes room for more powerful standards, and rival Verizon has warned it will stop serving 3G cellphones at the end of this year.
Under Armour CEO's Unusual Adviser: An MSNBC Anchor | The Wall Street Journal
The Wall Street Journal | February 22, 2019
Under Armour CEO Kevin Plank was questioned last year by the company’s board over his ties to MSNBC anchor Stephanie Ruhle, who has traveled on his private jet and provided input on a range of business matters, according to current and former executives.
Flush with funding, Scale Computing chases ‘multibillion-dollar opportunity’ | Indianapolis Business Journal
Indianapolis Business Journal | February 22, 2019
A partnership with Japanese personal-computer maker Lenovo—to be rolled out Feb. 25—and $34.8 million secured in October has the software firm poised for explosive growth.
Morgan Stanley’s Kathy Birk is a by-the-book ‘maverick’ | Indianapolis Business Journal
Indianapolis Business Journal | February 22, 2019
When Kathy Birk retires next month as manager of Morgan Stanley’s local operations, she’ll achieve a rare milestone in a stressful industry where most people wash out or get fired first.
Apps Send Sensitive User Information Directly to Facebook | The Wall Street Journal
The Wall Street Journal | February 23, 2019
Millions of smartphone users confess their most intimate secrets to apps, including personal health information. Unbeknown to most people, in many cases that data is being shared with someone else: Facebook.
Fox Cuts Smollett From Final Episodes of 'Empire' Season | The Wall Street Journal
The Wall Street Journal | February 23, 2019
Actor Jussie Smollett, won’t appear in this season’s final two episodes of the Fox series “Empire” after he was charged by Chicago police with filing a false report.
Evan Williams, Twitter Co-Founder, to Leave Board | The Wall Street Journal
The Wall Street Journal | February 23, 2019
Twitter co-founder and former Chief Executive Evan Williams is stepping down from the company’s board, closing a 13-year run that started with a simple idea to use up some leftover money.
It Shook the Food Business by Snagging Burger King, Kraft and Heinz. Now 3G Is Reeling. | The Wall Street Journal
The Wall Street Journal | February 23, 2019
The Brazilian investment firm burst onto the scene a decade ago with a string of acquisitions, and then cut costs using a hard-nosed budgeting tactic to create efficient production machines. Now, after transforming the American consumer landscape, its strategy appears to be running out of juice.
Barrick Gold Is Considering a Deal With Newmont | The Wall Street Journal
The Wall Street Journal | February 23, 2019
Barrick Gold said it may pursue a merger with rival Newmont Mining—a potential blockbuster deal that would unite the world’s two biggest gold producers and cap a flurry of recent, big acquisitions by gold miners.
Federal Reserve Report Highlights 'Resilient' Financial System | The Wall Street Journal
The Wall Street Journal | February 23, 2019
The Federal Reserve said Friday the U.S. financial system remains “substantially” safer than before the 2007-09 recession but noted a significant expansion in business debt and weaker lending standards.
China Trade Talks Extended as Trump Pushes to Close Deal | The Wall Street Journal
The Wall Street Journal | February 23, 2019
President Trump, citing progress in U.S.-China trade talks, said he is looking at extending a deadline to raise tariffs and hoping to meet next month with Chinese leader Xi Jinping to complete a broad trade agreement.
Economists' Advice to Fed: Look at Rising Prices and Tight Labor Market | The Wall Street Journal
The Wall Street Journal | February 23, 2019
A paper presented at a monetary policy conference Friday argues Federal officials should worry that a tight labor market could generate more inflation than they want.
Fed's Balance-Sheet Runoff Could End in Latter Half of 2019 | The Wall Street Journal
The Wall Street Journal | February 23, 2019
The Federal Reserve could stop reducing Treasury holdings from its $4 trillion asset portfolio in the latter half of the year to determine underlying demand for the central bank’s liabilities, top officials said.
At Trump-Kim Summit, Host Vietnam Blazes Trail for North Korea | The Wall Street Journal
The Wall Street Journal | February 23, 2019
When North Korean leader Kim Jong Un meets President Trump in Hanoi, the venue itself will carry a message for the dictator: Cooperate with the U.S. and you will open the door to an economic transformation like Vietnam’s.
CNN President Defends Appointment of Former Trump Official | The Wall Street Journal
The Wall Street Journal | February 23, 2019
CNN President Jeff Zucker addressed concerns about his decision to appoint a former Trump administration official as political editor, clarifying that her role won’t involve steering election debate or town hall coverage.
AutoNation Names Carl Liebert New CEO | The Wall Street Journal
The Wall Street Journal | February 23, 2019
AutoNation, the nation’s largest car-dealership chain, has named Carl Liebert its new CEO, tapping an industry outsider to steer the company through a period of transformation in the auto-retailing sector.
Kushner Cos. Pays $1.1 Billion for Suburban Apartment Portfolio | The Wall Street Journal
The Wall Street Journal | February 23, 2019
Kushner Cos. has acquired a portfolio of rental apartments for $1.1 billion, its largest transaction in more than a decade.
The Oscar Favorite That Created an Existential Crisis in Hollywood | The Wall Street Journal
The Wall Street Journal | February 23, 2019
“Never-Netflixers” hope a best-picture win for “Roma” won’t sever the connection between movies and theaters.
Keeping Chanel on Top in the Post-Lagerfeld Era | The Wall Street Journal
The Wall Street Journal | February 23, 2019
The French luxury house has for years played hardball with retailers, and the industry is wondering whether it can keep its sway after Karl Lagerfeld’s death.
U.S.-Huawei Fight to Take Center Stage at Trade Show | The Wall Street Journal
The Wall Street Journal | February 23, 2019
A large delegation of U.S. officials is heading to Spain for the world’s largest telecommunications trade show, planning to ratchet up a monthslong offensive against Huawei that has produced mixed results.