MGM Resorts Lays Off 18,000 Workers
MGM Resorts International is laying off 18,000 furloughed workers in the U.S. as a global travel slowdown impedes the casino industry's recovery from the ongoing pandemic.
Herbalife Nutrition Agrees to Pay $123 Million to Settle China Bribery Allegations
Herbalife Nutrition Ltd. on Friday agreed in court to settle charges that it provided corrupt payments to government officials in China and falsified its books and records.
Car Makers Lost $250 Billion in Sales to Pandemic
The auto sector was one of the hardest hit but manufacturers such as Volkswagen, Toyota and Ford are hoping for a coming boost from pent-up demand.
Coca-Cola Plans Layoffs, Offers Buyouts to U.S. Staff
Beverage giant is offering initial voluntary-separation packages to about 4,000 employees in the U.S., including Puerto Rico, and Canada.
SoftBank to Sell $14 Billion Stake in Telecom Unit
Billionaire Masayoshi Son's SoftBank Group said it would sell a $14 billion chunk of its Japanese mobile unit, adding to a string of asset sales aimed at bolstering the company's debt-laden balance sheet.
Bet on Papa John's Shaq-Assisted Rebound
Papa John's comparable sales were up 24% year over year in North America and 23% overseas in the four weeks through Aug. 23.
Norwegian Air Is at the Mercy of the Elements
The trans-Atlantic highflier said it would need more cash for the beginning of next year, but cannot easily sell its planes.
Old Navy and Athleta Save Gap, Again
Gap has managed to almost double its e-commerce revenue. What hasn't changed is the lagging performance at its namesake brand and Banana Republic.
Cruise Ships Cautiously Resume Sailing in Europe After Deadly Outbreaks
Ships are sailing below capacity and there are no buffets. To minimize the risk of infections, some operators say all passengers must be tested before boarding.
Tesla Bulls Bet Big Ahead of Stock Split
A dizzying rally in the electric auto maker's shares has led to a quintupling of the stock this year and made Tesla one of the most valued U.S. companies. It has also unleashed a burst of options activity tied to the stock jumping even higher.
