Uber, Lyft Ordered to Classify Drivers as Employees
A California judge said ride-hailing companies Uber and Lyft shouldn't classify their drivers as independent contractors, citing the state's gig-worker law that went into effect this year.
Hertz Sold $29 Million in Stock Before SEC Stepped In
The bankrupt rental-car company raised $29 million selling its likely worthless stock before regulators dissuaded it from selling more.
Simon Sees Profit Nearly Halved as Mall Traffic Thins: Earnings at a Glance
Mall landlord Simon Property Group saw its profits nearly halved as the coronavirus kept traffic away. Cannabis company Tilray, meanwhile, said revenue rose, but its loss widened.
IAC/InterActive Bets $1 Billion on 12% MGM Resorts Stake
IAC/InterActiveCorp. has spent just over $1 billion to build a 12% stake in MGM Resorts and plans to help the casino operator expand its online-gambling business.
Kodak Shares Fall as Planned $765 Million Loan Is Put on Ice
Kodak shares lost more than a quarter of their value after news that a planned $765 million loan to the company was put on hold amid congressional and regulatory scrutiny.
Brooks Brothers Poised to Be Acquired by Authentic Brands-Simon Venture
Brand-licensing company WHP has bowed out of the race for Brooks Brothers, leaving a venture backed by apparel-licensing firm Authentic Brands and mall owner Simon poised to take control of the bankrupt retailer.
McDonald's Sues to Recover Severance From Fired CEO
The fast-food giant is seeking to recoup tens of millions of dollars it paid to Steve Easterbrook in severance and benefits, alleging that he lied to the board about sexual relationships with employees before his ouster last fall.
Disney Investors Could Look Goofy Soon
Investors rushing to ride Disney on the hope of pandemic recovery could be in for a long and uncomfortable wait.
Marriott Swings to Loss but Sees Demand Recovery From Virus Lows
Marriott posted a larger-than-expected quarterly loss, though a budding recovery in China offered signs of hope as the pandemic continues to pound the lodging industry.
LCN Capital Reaches Target for North American and European Real Estate Debt Strategies
The New York-based firm has hit its targets of $500 million for LCN North American Fund III LP and EUR500 million ($587.6 million) for LCN European Fund III SLP, the person added.
