SoftBank Starts Comeback With $12 Billion Profit, Helped by Sprint Sale
The technology investor recorded a profit of nearly $12 billion in the April-June quarter as gains from disposing former unit Sprint helped it bounce back from its worst year ever.
Meal-Kit Winner Can Deliver an Extra Serving
Perfect conditions for meal-kit companies won't last forever. But with Covid-19 infections spiking again in key markets and fewer people going on summer vacation, HelloFresh's winning streak can continue for a while longer.
Rocketship.vc Raises $100 Million Fund for Data Focus
Rocketship.vc has raised $100 million for a new fund to invest from the U.S. in startups globally, using data rather than personal connections to find startups and make deals.
Bayer to Buy KaNDy Therapeutics
Bayer will buy U.K.-based biotech KaNDy Therapeutics for an initial $425 million as it looks to expand its women's health-care pipeline.
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.
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.
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.