Discovery Revenue Falls as Covid-19 Pandemic Hits Ad Revenue

Revenue at the parent company of networks including HGTV, Food Network and TLC fell about 12% to $2.54 billion in the quarter ended June 30. 


 
CVS Raises Full-Year Expectations, Benefits From Insurance Business

CVS Health raised its expectations for the full year as its insurance business booked lower health-care benefit costs due to the deferral of elective procedures amid the coronavirus pandemic. 


 
Commerzbank Takes Hit on Wirecard Loan

Commerzbank, Germany's second-largest lender, took a big financial hit from its exposure to fintech firm Wirecard. 


 
Quicken Loans Parent Prepares for a Big IPO

A red-hot mortgage market could propel the country's top mortgage lender to one of the biggest public offerings this year. 


 
SEC Probing Kodak Loan Disclosure, Stock Surge

The Securities and Exchange Commission is investigating the circumstances around Eastman Kodak's announcement of a $765 million government loan to make drugs at its U.S. factories, according to people familiar with the matter. 


 
U.S. Seeks as Much as $18.1 Billion From Purdue Pharma

The Justice Department is seeking as much as $18.1 billion from bankrupt opioid maker Purdue Pharma, new filings show, a demand that could disrupt the company's monthslong effort to reach a settlement with states and local communities that accuse it of helping fuel the opioid crisis. 


 
Disney Posts a Nearly $5 Billion Loss

The entertainment company's revenue fell 42% in the latest quarter as the pandemic wreaked havoc on its theme parks and other businesses, resulting in a $4.72 billion loss. 


 
Walmart Health-Care Executive to Depart

Sean Slovenski, who leads Walmart's health-care ambitions, is leaving the company, people familiar with the matter said, as the retail behemoth navigates the operational complexity of the coronavirus pandemic. 


 
Insurers Report Mixed Results From Covid-19

Two giant sellers of insurance to consumers-Allstate and Prudential Financial-reported results that reflected the far-ranging impact of Covid-19. 


 
TWC Tech, SPAC Backed by Former KKR Executives, Files for IPO

TWC Tech Holdings II Corp., a so-called blank-check company backed by former KKR & Co. executives Adam Clammer and Jamie Greene, is trying to raise some $525 million through an initial public offering and private placement, according to a securities filing.