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April 4, 2020
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Reuters - Business

Airbnb lowers internal valuation to $26 billion as coronavirus hits bookings: FT

Reuters
FILE PHOTO: Airbnb logo is seen in front of diplayed coronavirus disease (COVID-19) in this illustration taken March 19, 2020. REUTERS/Dado Ruvic/Illustration/File Photo (Reuters) – Airbnb lowered its internal valuation by 16% to $26 billion, as the home rental firm deals with a sharp drop in bookings due to the......
Reuters - Business

Bed Bath sues 1-800-Flowers for trying to renege on deal over COVID-19

Reuters
WILMINGTON, Del (Reuters) – Bed Bath & Beyond Inc (BBBY.O) has asked a judge to hold 1-800-Flowers.Com Inc (FLWS.O) to a $252 million deal between the companies in what appears to one of the first examples of a corporate sale coming unraveled due to the coronavirus pandemic. FILE PHOTO: The......
Reuters - Business

General Motors, Honda to jointly develop two new electric vehicles

Reuters
The GM logo is pictured at the General Motors Assembly Plant in Ramos Arizpe, state of Coahuila, Mexico October 7, 2019. REUTERS/Daniel Becerril (Reuters) – General Motors (GM.N) and Honda Motor Co Ltd (7267.T) said on Thursday the companies would jointly develop two new electric vehicles for Honda. The new......
Reuters - Business

WeWork troubles deepen as SoftBank pulls $3 billion tender offer

Reuters
(Reuters) – SoftBank Group Corp (9984.T) said it has terminated a $3 billion tender offer for additional WeWork shares agreed last year with shareholders, drawing threats of legal action and plunging the floundering office space company further into crisis. FILE PHOTO: A WeWork logo is seen at a WeWork office......
Reuters - Business

Disney+ content to make exclusive Middle East debut on OSN

Reuters
DUBAI (Reuters) – Walt Disney Co’s (DIS.N) Disney+ content will be available for the first time in the Middle East and North Africa on regional pay television and online streaming service provider OSN from April 9. FILE PHOTO: A smartphone with displayed “Disney” logo is seen on the keyboard in......
Reuters - Business

SoftBank terminates $3 billion WeWork tender offer

Reuters
FILE PHOTO: The logo of SoftBank Group Corp is displayed at the SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato (Reuters) – SoftBank Group Corp (9984.T) said it has terminated a $3 billion tender offer for additional WeWork shares agreed last year with shareholders, including ousted......
Reuters - Business

Xerox abandons $35 billion hostile bid for HP

Reuters
(Reuters) – U.S. printer maker Xerox Holdings Corp (XRX.N) walked away from its $35 billion hostile cash-and-stock bid for HP Inc (HPQ.N) on Tuesday, after the coronavirus outbreak weighed on its campaign to take over the PC and printing equipment manufacturer. FILE PHOTO: The company logo for Xerox is displayed......
Reuters - Business

Global M&A dwindles as coronavirus batters world’s economies

Reuters
LONDON/NEW YORK (Reuters) – Global mergers and acquisitions activity plunged 28% in the first quarter to its lowest level since 2016 as the devastating economic effects of the coronavirus pandemic took hold in March, compounding a slow start to the year for dealmakers. FILE PHOTO: Test tube with fake blood......
Reuters - Business

Exclusive: American Airlines in talks to hire Millstein for aid advice

Reuters
NEW YORK (Reuters) – American Airlines Group Inc (AAL.O) is in advanced talks to hire Guggenheim Securities co-chairman James Millstein for advice on tapping a $50 billion industry relief package available from the U.S. Treasury Department to cope with the coronavirus pandemic, people familiar with the matter said. FILE PHOTO:......
ESPN

NFL free agency – Ranking the 15 best remaining free agents

ESPN
NFL teams have scooped up more than 70% of the ESPN’s original top 100 free agents this week, either through market signings or by using the franchise and transition tags. That doesn’t mean the well is dry, however. Here are 15 of the best players remaining. As always, we’ve focused......
Reuters - Business

Latin American airlines slash flights, salaries in response to coronavirus

Reuters
(Reuters) – Latin America’s major airlines sharply curtailed international flights on Thursday because of the coronavirus outbreak as Panama and Colombia imposed month-long travel bans and the largest carrier cut the salaries of 43,000 employees. FILE PHOTO: The logo of LATAM Airlines is pictured on an Airbus plane in Colomiers......
ESPN

2020 NFL free agency winners and losers

ESPN
The 2020 NFL free agent market officially opened Wednesday amid one of the more unusual weeks in league history. With the rest of the sports world shut down this week due to coronavirus concerns, all eyes were on the league’s annual frenzy of player movement. And the league did not......
Reuters - Business

Brazil’s big privatizations, the latest coronavirus victim

Reuters
SAO PAULO (Reuters) – As Brazil’s stock market hit record highs in January, Economy Minister Paulo Guedes said the country could raise up to 150 billion reais ($30 billion) with sales of state-owned companies through share offerings, mergers and acquisitions. FILE PHOTO: People past in front of the tanks of......
Reuters - Business

Fujifilm shares jump 15% on China coronavirus drug trial boost

Reuters
FILE PHOTO: Fujifilm’s company logo (top) is seen at its exhibition hall nearby the headquarters of Fujifilm Holdings Corp in Tokyo, Japan June 12, 2017. REUTERS/Kim Kyung-Hoon TOKYO (Reuters) – Shares in Japan’s Fujifilm Holdings Corp (4901.T) surged 15% on Wednesday morning after a Chinese official said the company’s Avigan......
Reuters - Business

Germany tries to stop U.S. poaching German firm seeking coronavirus vaccine

Reuters
BERLIN (Reuters) – Berlin is trying to stop Washington from persuading a German company seeking a coronavirus vaccine to move its research to the United States, prompting German politicians to insist no country should have a monopoly on any future vaccine. FILE PHOTO: Employee Philipp Hoffmann, of German biopharmaceutical company......
Reuters - Business

Germany tries to stop US from luring away firm seeking coronavirus vaccine

Reuters
BERLIN (Reuters) – Berlin is trying to stop Washington from persuading a German company seeking a coronavirus vaccine to move its research to the United States, prompting German politicians to insist no country should have a monopoly on any future vaccine. FILE PHOTO: Employee Philipp Hoffmann, of German biopharmaceutical company......
Reuters - Business

Berkshire taps former AmEx CEO Kenneth Chenault for board, as Bill Gates steps aside

Reuters
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc said on Friday that former American Express Co Chief Executive Officer Kenneth Chenault has been nominated to the conglomerate’s board of directors, replacing Microsoft Corp co-founder Bill Gates. FILE PHOTO: American Express Chairman and CEO Kenneth Chenault gestures during the White House summit......
Reuters - Business

Buffett’s Berkshire taps former AmEx CEO Kenneth Chenault for board, as Bill Gates steps aside

Reuters
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) said on Friday that former American Express Co (AXP.N) Chief Executive Officer Kenneth Chenault has been nominated to the conglomerate’s board of directors, replacing Microsoft Corp (MSFT.O) co-founder Bill Gates. FILE PHOTO: American Express Chairman and CEO Kenneth Chenault gestures during the......
ESPN

2020 NFL free-agency guide – Players to know, potential value signings and quarterbacks on the move

ESPN
In this most unusual NFL offseason, a familiar sight awaits. The 2020 free-agent market is set to open Monday with a three-day negotiating period for players with expiring contracts. Deals can be formalized beginning Wednesday at 4 p.m. ET. To be clear, however, 2020 is no ordinary year for the......
Reuters - Business

U.S. clears Infineon’s $10 billion takeover of Cypress

Reuters
FILE PHOTO: Reinhard Ploss, CEO of German semiconductor manufacturer Infineon and CFO Sven Schneider, pose before the company’s annual shareholder meeting in Munich, Germany, February 20, 2020 REUTERS/Michael Dalder/File Photo BERLIN (Reuters) – Shares in Infineon Technologies (IFXGn.DE) rallied in early trading on Tuesday after a U.S. national security review......

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