A sudden surge in Eastman Kodak Co.’s stock this week has turned a bunch of money-losing executive stock-option grants made in the past two years—including some made on Monday—into a sudden personal windfall for the company’s executive chairman.
On Tuesday, Kodak and the U.S. government announced a preliminary agreement under which the firm would receive a loan to produce drug ingredients. The news has since led the one-time photography giant’s share price to more than triple.
...Working for one boss is hard enough. Working for two can double your job headaches.
About 44% of U.S. employees work for at least two managers, a 2017 Gallup survey found. Office shutdowns and job losses caused by the coronavirus pandemic likely will widen the practice’s usage. Amid today’s deep downturn, many companies may insist that those who escape layoffs handle dual duties and bosses, workplace experts predict. And, with more employees working from home, the pre-pandemic trend of remote workers belonging to more teams...
In early March, Cara Soulia was preparing for a spring filled with photo shoots for local schools. Instead, the family photographer from Needham, Mass., started taking pictures of families quarantined by the coronavirus pandemic, creating a global project that has raised more than $3.25 million for different charities.
Ms. Soulia had been thinking about how she could document the spreading pandemic and its effect on society, so when Kristen Collins, a friend and business consultant, suggested she offer to photograph local...
When sports fans return to watch their teams play live again, many of them may not need a ticket.
Several pro sports teams, including the New York Mets and the Los Angeles Football Club, are testing facial-recognition technology in stadiums. The idea is to admit fans for entry by authenticating their faces, to make the process as touchless as possible during the coronavirus pandemic.
Big,...
Airlines are asking the government to again step in with funds to help them prevent tens of thousands of job losses.
Airlines were barred from laying off or furloughing employees this summer as a condition of the $25 billion in aid they received under the broad economic stimulus package passed in March. Those restrictions will be lifted Oct. 1, and U.S. airlines have outlined furlough plans that could affect over 75,000 pilots, flight attendants, mechanics, and other workers when that day comes.
...- 54% of small businesses across the U.S. are at risk of financial difficulty in the next year. Use this interactive tool to see how small businesses in your area are faring.
A group of big buyout investors is considering a takeover bid for railroad operator Kansas City Southern that could be worth more than $21 billion and mark a big bet on U.S.-Mexico trade.
Blackstone Group Inc.’s infrastructure arm and Global Infrastructure Partners are together exploring a potential deal and speaking to banks including Citigroup Inc. about financing, according to people familiar with the matter.
There...
Eden Park Illumination Inc. had one product to sell before Covid-19: an ultraviolet light that distinguished real diamonds from fakes. The spread of a deadly virus across the globe shifted the focus of the tiny Champaign, Ill., startup to another ultraviolet light application that it had not planned to introduce for at least two years. This one would disinfect crowded spaces.Within weeks, the 10-person company began shipping prototypes. Eden Park has since delivered more than 1,000 of the lights and added a dozen workers, including a head of manufacturing.
“We...
For all of Elon Musk’s public complaining about the handling of the pandemic, Tesla Inc. is shaping up to be one of the biggest business winners of the Covid-19 era.
After years of losses that made many investors wonder if the Silicon Valley car maker could ever operate in the black, Tesla has sustained a profit through one of the worst economic shocks in history, helped in part by the sale of regulatory credits. It is expanding rapidly at a time when larger rivals are losing money and cutting production, even as they chase...
For Microsoft Corp. Chief Executive Officer Satya Nadella, buying TikTok would mark the boldest in a string of big deals and could reshape a tech giant that has lately thrived by focusing on corporate customers.
Microsoft is in talks to potentially spend billions of dollars to acquire the U.S. operations of TikTok, the Chinese-owned video-sharing app, The Wall Street Journal and others reported Friday. The discussions come as President Trump said that he was considering steps that would effectively ban the app from the U.S....
Supermarket chain Albertsons Cos. said consumers are sticking with their new pandemic-driven habit of buying more groceries and eating more at home.
At the start of the coronavirus pandemic, shoppers stocked pantries with more than they could eat in the near term. Now, said Albertsons Chief Executive Vivek Sankaran, purchases are more in line with what consumers plan to eat before their next trip to the supermarket. With people still eating mainly at home as the pandemic persists, he said, that means sustained higher demand...
The pandemic has made business more dependent on cloud-computing than ever—and companies are now racing to rein in the soaring costs.
Cloud spending at Audi Business Innovation GmbH, a unit of Volkswagen AG-owned car maker Audi, jumped 12% between March and April, with employees using more of the rented, remote computing power and software tools to work from home. But with car sales plunging, companywide budgets were under pressure.
...A bruising fight for control of Ebony magazine has put the future of what was once one of America’s most widely distributed and influential Black-owned media brands in doubt.
Ebony Media Holdings LLC on Thursday was forced into involuntary chapter 7 bankruptcy by its creditors, a move that follows the recent ouster of the company’s chief executive for alleged financial malfeasance and competing claims of who is actually in charge.
...Boeing Co. and Airbus SE are making planes that airlines aren’t collecting, straining their finances as the coronavirus pandemic wreaks havoc on travel and the aerospace industry.
Airlines in many cases say they don’t want the aircraft for now, because they are unable to fill them profitably during a historic plunge in demand for flying. Travel restrictions are also hindering employees of some airlines from getting to the U.S. and Europe to pick up planes from factories.
...At Amazon.com Inc.’s annual shareholder meeting in May, Chief Executive Jeff Bezos offered a familiar response when asked about scrutiny surrounding the company.
“We want people to know the truth about Amazon and how we use our scale for good,” he said before outlining company initiatives on climate, job creation and small business.
That often-repeated...
SAN FRANCISCO—Google will keep its employees home until at least next July, people familiar with the matter said, making the search-engine giant the first major U.S. corporation to formalize such an extended timetable in the face of the coronavirus pandemic.
The move will affect nearly all of the roughly 200,000 full-time and contract employees across Google parent Alphabet Inc., and is sure to pressure other technology giants that have slated staff to return as soon as January.
...SEOUL—The West’s fight with China about 5G network equipment has handed an opportunity to South Korea’s Samsung Electronics Co.
The U.S. and U.K. have barred from their 5G networks China’s Huawei Technologies Co., the industry’s largest player. Other European countries are weighing whether to follow suit. In response, Beijing is considering blocking two European suppliers and the industry’s next largest manufacturers, Nokia Corp. and Ericsson AB, from sending their China-made product elsewhere, The Wall Street Journal reported...
Ascena Retail Group Inc., the parent company of Ann Taylor and Lane Bryant, has filed for bankruptcy, the latest apparel seller unable to ride out the economic damage caused by coronavirus restrictions.
U.S. spending on apparel has plunged and remained below prepandemic levels since lockdowns forced thousands of retailers to shut their doors.
Since...
Aluminum customers are receiving tariff exclusions on billions of pounds of imported metal that U.S. mills say are undermining the domestic market the duties were supposed to revive.
The 10% duty on foreign-made aluminum that the Trump administration imposed in March 2018 allowed importers to receive exclusions from the tariff for metal that wasn’t available domestically. But aluminum producers in the U.S. say the exclusion process is incentivizing more imports, deepening a divide in the industry over the tariff’s effectiveness.
...With Walt Disney World open to the public for less than two weeks after a nearly four-month shutdown, a vocal group of employees who have been kept out of the Magic Kingdom by a labor dispute are campaigning against their union to get back to work.
A group of Disney members of the Actors’ Equity Association, the New York-based union that represents about 750 Disney World performers, say they want the association to drop its public fight with Walt Disney Co. over coronavirus-safety precautions—a fight they say risks putting...
After Tesla Inc.’s lone U.S. assembly plant went offline this spring as authorities in California shut things down to slow the spread of the coronavirus, many Wall Street analysts doubted the second quarter would be profitable.
But then the electric-auto maker delivered a surprising number of new cars and sport-utility vehicles during the three months that ended on June 30, reporting earlier this month a much smaller decline than analysts had forecast. The company’s shares have continued to soar since, in part, on increased...
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