SYDNEY — Coronado Global Resources Inc. and Peabody Energy Corp. mutually agreed to end talks over combining to create a new global coal giant. Australia-listed Coronado CRN, -6.17%, which also Read more
Tag: Corporate Actions
Elon Musk slashing jobs at Twitter to avoid $700M loss next year: sources
Elon Musk’s drastic decision to lay off half of Twitter’s workforce on Friday was driven by the company’s dire finances — with the now-private company on track to lose $700 million in Read more
Credit carnage spurs bargains on bonds tied to $16 trillion pile of U.S. household debt
Big bargains have made a roaring comeback on bonds tied to the $16.2 trillion pile of U.S. consumer debt. Higher borrowing costs, tighter credit conditions and sharp losses have been Read more
Short sellers hit back at Cassava lawsuit against them: ‘We stand behind everything we wrote’
The defendants in a defamation lawsuit brought by Cassava Sciences have hit back at the plaintiff, saying it’s one of the most “frivolous” lawsuits they’ve seen. Biotech company Cassava Sciences Read more
Telefonica backs target, dividend as it brings in $10.08 billion in revenue
Telefonica SA backed its financial targets and dividend for the year after it reported higher third-quarter revenue on improving handset sales as well as a boost from foreign exchange moves. Read more
Giant Biogene rises in Hong Kong market debut
Giant Biogene Holding Co.’s stock zoomed higher in its Hong Kong market debut, after the Chinese skincare company raised 549.4 million Hong Kong dollars (US$70.0 million) in an initial public Read more
Twitter plans mass layoffs Friday morning
Twitter Inc. will begin mass layoffs Friday morning, as Elon Musk looks to slash costs at the social-media company that he acquired last week for $44 billion. In an unsigned Read more
Warner Bros. Discovery to speed up merger of HBO Max, Discovery+
Warner Bros. Discovery Inc. is speeding up the launch of a combined HBO Max/Discovery+ streaming service, a decision that comes as the company is facing growing pressure on its traditional media Read more
Lumen stock falls after dividend is eliminated, but is there a silver lining?
Lumen Technologies Inc. shares were falling sharply in Thursday trading after the telecommunications company announced it was eliminating its dividend and selling another business, moves that have prompted tough questions Read more
Lyft lays off 13% of workers in second round of cuts this year, maintains financial guidance
Lyft Inc. is laying off 13% of its workforce, which amounts to 683 jobs, in what its executives are calling a proactive step as they look to a possible recession Read more