Ernst & Young Loses Two German Clients Amid Wirecard Scandal
Commerzbank and DWS chose to drop the accounting firm's German affiliate. Both would face conflicts of interest if they decided to sue EY for any role it played in auditing Wirecard, while also being audited by it.
TV Advertising in Flux as Pandemic Roils Fall Season
Advertisers are pressing TV networks for unprecedented flexibility to back out of spending commitments given a lack of new entertainment and potential pitfalls for the NFL season.
Cable, Satellite Operators Place New Bets on 5G Airwaves
Cable-TV newcomers joined Verizon and Dish among the top bidders in the Federal Communications Commission's latest auction of licenses in a band considered useful for ultrafast fifth-generation, or 5G, transmissions.
United Plans to Cut More Than 16,000 Staff
The airline plans to cut 16,370 staff as part of efforts to halve its domestic workforce amid a pandemic-driven slump in passenger demand. The cuts are short of the 36,000 potential job losses it warned were possible in July.
Ford Looks to Trim 1,400 Through U.S. Buyouts
Ford Motor is offering buyouts to salaried employees in the U.S., a move that comes as the car maker works to rebound from coronavirus-related factory closures earlier in the year and prepares for new executive leadership.
Saudi Aramco Slows Diversification Plans Amid Industry Downturn
Saudi Arabia's state oil giant is reviewing plans to expand at home and abroad in the face of sharply lower oil prices and a heavy dividend burden.
Tesla's Largest Outside Shareholder Cuts Stake
Baillie Gifford, the Scottish investment house that is Tesla's second-largest shareholder after Elon Musk, has pared its holdings in the electric-car maker, the latest ripple effect of the company's soaring market value.
Macy's Posts $431 Million Loss as Stores Continue Recovery
The retailer reported $3.6 billion in sales for the latest quarter, as it recovers from temporary store closures spurred by the coronavirus pandemic.
Michael Jordan Takes Stake in DraftKings, Joins as Adviser
The online-betting company said Michael Jordan agreed to take an equity interest in exchange for providing guidance and strategic advice to the board. Shares of DraftKings jump.
Pernod Ricard Needs a Return to More Convivial Times
Pernod Ricard, which distills Jameson whiskey and Absolut vodka as well as its namesake French aperitif brands, on Wednesday reported a 12% decline in recurring profits for its financial year through June 30.
