Boeing narrowly missed a “catastrophic failure” during its December flight test of an unmanned space taxi that was cut short by an unrelated problem, a NASA safety review panel said Thursday, recommending that the agency examine Boeing’s software verification process before letting it fly humans to space.
A mid-week rally in Asian share markets halted on Friday and oil prices steadied as the growing death toll and economic damage from a new virus spreading from China curbed further gains.
ViacomCBS is working on a streaming service that will build on CBS All Access, a person familiar with the matter said on Thursday.
With much of the cheap oil produced and U.S. shale nearing a peak, the world risks a major oil price spike which could end up triggering a financial crisis …read more […]
Hedge fund Elliott Management Corp, one of the world’s most powerful activist investors, has amassed a nearly $3 billion stake in SoftBank Group Corp and is pushing for changes to boost the Japanese conglomerate’s value, sources said.
The deadly coronavirus is causing some multinational companies to feel the pain more than others, according to an analyst. …read more […]
U.S. Attorney General William Barr said on Thursday the United States and its allies should consider the highly unusual step of taking a “controlling stake” in Finland’s Nokia and Sweden’s Ericsson to counter China-based Huawei’s dominance in next-generation 5G wireless technology.
(Bloomberg) — Legendary activist investor Paul Singer is taking on one of his most high-profile targets yet: Masayoshi Son.Singer’s Elliott Management Corp. has built a stake of close to $3 billion in SoftBank Group Corp., according to people familiar with the matter. The New York-based hedge fund believes SoftBank is one of the world’s most undervalued companies and could easily finance a share buyback of as much as $20 billion by trimming investments in companies like Alibaba Group Holding Ltd., Sprint Corp. and others.Elliott has held discussions with SoftBank’s leadership team including founder Son, the people said. The firm thinks …read more […]
Uber Technologies Inc on Thursday moved forward by a year its target to achieve a measure of profitability to the fourth quarter of 2020, but the ride-hailing company still expects to lose a total of more than $1 billion this year.
(Bloomberg) — Royal Dutch Shell Plc will build its first large-scale solar farm as part of its plan to expand into power generation.Shell, which has set itself a goal to become the world’s top electricity producer by 2030, expects to complete the plant in Queensland, Australia, early next year. The facility will indirectly supply the company’s QGC liquefied natural gas export facility, reducing that project’s carbon footprint.“Solar is one of the building blocks of Shell’s power strategy,” said Greg Joiner, Vice-President for Shell Energy in Australia. “We are increasingly incorporating renewable energy into customer offers, as we have done here …read more […]
ViacomCBS is working on a streaming service that will build on CBS All Access, CNBC reported on Thursday, citing people familiar with the matter.
Johnson & Johnson was ordered on Thursday by a New Jersey state jury to pay punitive damages of $750 million to four plaintiffs who allege that the company’s Baby Powder caused their cancer, a ruling that will be reduced to around $185 million because of state laws, according to a lawyer for the plaintiffs and the company.
Aurora Cannabis said Chief Executive Terry Booth will retire and Executive Chairman Michael Singer become interim CEO as the beleaguered marijuana producer announced C$1 billion ($752.79 million) in impairment charges on Thursday.
U.S. stocks gained for a fourth straight session on Thursday and Wall Street’s main indexes hit record highs as concerns eased over the economic fallout from the coronavirus outbreak in China.
Casper became the latest startup to tap the public market with big dreams, but no profits. …read more […]
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