Travel Operator Under Pressure to Raise Additional Funds
Troubled British travel company Thomas Cook Group is under pressure from lenders to find an additional GBP200 million ($249.5 million) to avoid the collapse of a rescue deal that would see Chinese conglomerate Fosun International Ltd. inject significant funds.
GM Furloughs Workers in Canada as Strike Drags On
General Motors has furloughed roughly 2,000 hourly workers at a plant in Oshawa, Ontario, near Toronto, as the impact of a strike by the United Auto Workers in the U.S. ripples north.
Facebook Suspends More Apps, Tightens Data Controls
Facebook said it suspended tens of thousands of apps for violating its rules around accessing and sharing information, a disclosure that follows the company's record $5 billion fine from federal regulators in July.
Walmart to Stop Selling All E-Cigarettes
Walmart will stop selling all e-cigarettes in its U.S. stores, citing regulatory uncertainty around the vaping devices after the White House announced plans to ban most flavors.
Apple's Challenge for iPhone 11: Halt Sales Slide in China
As Apple's iPhone 11 models went on sale world-wide today, they face their biggest challenge in China, Apple's second-largest market, where new cameras and lower prices aim to help stanch sales declines.
McDermott International Hires Law Firm Kirkland & Ellis to Advise on Restructuring
McDermott International Inc.'s debt talks are heating up with the struggling engineering firm hiring Kirkland & Ellis LLP to advise on efforts to restructure its balance sheet, according to people familiar with the matter.
Commerzbank to Cut Thousands of Jobs as Part of New Strategy
Commerzbank said its management board has submitted a draft of its new strategy, including thousands of job cuts and restructuring charges, to its supervisory board.
Google to Invest EUR3 Billion in European Data Centers
Alphabet Inc.'s Google plans to invest EUR3 billion to build data centers in Europe over the next two years, in a move to up its sustainability efforts, Chief Executive Sundar Pichai said.
Vanguard Bets on Robo-Only Adviser
Vanguard Group plans to launch a robo-advisory service that cuts out human financial advisers, aiming to capture younger, tech-savvy investors.
A 'Grass-Roots' Campaign to Take Down Amazon Is Funded by Amazon's Biggest Rivals
Walmart, Oracle and mall owner Simon Property Group are secret funders behind a nonprofit that has been highly critical of the e-commerce giant.