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. 


 
Blackstone Joins Clearlake and Insight in Backing Software Maker Diligent

Blackstone Group is joining investors in Diligent in a deal that values the maker of corporate-governance software at north of $4 billion. 


 
Fox CEO Pins Hopes on Football Return, Fox News to Lift Profit

Fox Corp. Executive Chairman and Chief Executive Lachlan Murdoch said he remained confident that both professional and college football would return next month, which is crucial to the bottom line of the media company. 


 
BMW Confirms Outlook After 2Q Loss

BMW reported an operating loss of EUR666 million in the second quarter and confirmed its guidance for the year, warning however, that pre-tax before is expected to be "significantly lower than in 2019." 


 
Commerzbank Forecasts Loss For 2020

Commerzbank said it expects to report a loss this year after it posted a 21% fall in second-quarter profit to EUR220 million, hit by sharply higher provisions.