Molson Coors Forms Joint Venture to Brew and Sell Yuengling Beers
Molson Coors Beverage is forming a joint venture with family-owned D.G. Yuengling & Son to start brewing and selling Yuengling beer beyond the East Coast, as both companies search for growth amid the Covid-19 pandemic.
Kraft Heinz Plans $2 Billion in Cost Cuts
The company is planning the cuts over five years, returning to the strategy that drove its formation in a merger five years ago. The food giant has logged higher sales during the coronavirus, but analysts say it has lost market share.
ViacomCBS's 'Paramount+' to Join Streaming Skirmish
ViacomCBS said it plans to launch an expanded version of its flagship streaming service early next year, leveraging the catalog of programs created by last year's merger of Viacom and CBS.
H&M's Coronavirus Recovery Beats Expectations
The Swedish fashion retailer said its recovery from the pandemic-led slump in retail had been better than predicted, prompting shares in the company to soar 12%.
Germany Boosts Investment in Covid-19 Vaccine Research
The German government said it would pour EUR750 million in grants into three local companies developing coronavirus vaccines, bringing the nation's total bet on such research to more than EUR1 billion, as nations race to develop an inoculant that would halt the spread of the pandemic.
Apple Event: New Watch, iPad Expected as iPhone Seen Coming Later
Apple will hold its first virtual-only product reveal at 1 p.m. New York time from its headquarters. The company is expected to focus on the new Watch Series 6 and iPad Air while the newest iPhone is expected to be revealed next month.
Former Nissan Executive Greg Kelly Pleads Not Guilty at Tokyo Trial
The former Nissan executive pleaded not guilty of helping hide Carlos Ghosn's compensation at the opening of his trial in Tokyo.
TikTok Strives to Settle Privacy Lawsuit as Oracle Deal Nears
Lawyers for TikTok are pushing to settle a lawsuit in Illinois alleging the video-sharing app improperly collects data from its users, many of them underage, as its Chinese parent company closes in on a deal with Oracle.
Fiat Chrysler to Cut Dividend Ahead of Merger With PSA Group
Fiat Chrysler Automobiles and PSA Group changed the terms of their merger to preserve cash as the two car makers shore up their financial positions following the negative effects of the coronavirus pandemic.
Lonestar Resources Reaches Deal to Restructure Under Chapter 11
The Fort Worth, Texas, shale driller said it reached a restructuring support agreement that will eliminate roughly $390 million in debt obligations and preferred equity interests.