Business
Earnings, deals, regulation and the economy, explained without the jargon.
PayPal shares sink as $53 billion Stripe-Advent buyout collapses
PayPal's stock fell as much as 16% in premarket trading Friday after Bloomberg reported that Stripe and Advent International had abandoned their pursuit of the payments company, ending months of takeover speculation that had lifted the shares nearly 30%.
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Boston Scientific Cyberattack Halts Order Processing Worldwide
The medical device maker told federal regulators that a cybersecurity incident discovered Tuesday has caused a global disruption to its operations, including its ability to process and ship customer orders, with no restoration timeline yet in sight.
Salesforce Posts Record Quarter, Silencing Fears of AI Disruption
The software giant's stock jumped as much as 14% after a blowout second quarter and raised guidance, offering the clearest rebuttal yet to a year of "SaaSpocalypse" fears that AI agents would make traditional subscription software obsolete.
KKR to pay record $250 million to settle DOJ antitrust filing case
The private-equity giant agreed to the largest civil penalty in the history of federal premerger-review enforcement, while saying outside law firms — not KKR investors — will foot the bill.
Nvidia posts $96.2 billion quarter as AI chip demand keeps outrunning forecasts
The company's data-center revenue surged 117 percent from a year earlier, and its guidance for the current quarter—$108 billion, excluding any China sales—signals no near-term slowdown in the AI infrastructure buildout.
Judge orders First Brands into Chapter 7 liquidation, ending rescue bid for fraud-hit auto-parts giant
A federal judge rejected First Brands' plan to repay creditors through insider lawsuits, converting one of the largest and most fraud-tangled corporate collapses in years into a straight liquidation.
Gold surges toward $4,700 an ounce, on pace for biggest monthly gain since 1999
A weakening dollar and mounting bets on Federal Reserve rate cuts have driven spot gold to three-month highs, with the metal up roughly 13% in August alone.
Intuit Beats Wall Street on Earnings, Then Warns Growth Will Slow as It Retools TurboTax Pricing
The maker of TurboTax and QuickBooks posted double-digit fourth-quarter growth but told investors it is deliberately sacrificing near-term profit to win back customers it lost to cheaper, AI-powered tax-filing rivals.
Zoom's stake in Anthropic drives $1.5 billion profit surge, but shares slide on cautious outlook
A seven-year-old, $51 million side bet on the AI startup Anthropic produced a $1.6 billion paper gain that pushed Zoom Communications' net income past $1.5 billion last quarter, even as the company's core software sales grew only modestly and investors focused on a tepid full-year forecast.
Canada Hits Back With $20 Billion in Tariffs After U.S. Trade Talks Collapse
Ottawa will match new American duties "dollar for dollar" starting September 8, pairing the retaliation with a C$7.5 billion support package for workers and exporters after last week's negotiations broke down over autos and sovereignty demands.
Dick's Sporting Goods shares plunge as Foot Locker weakness forces profit-outlook cut
The retailer's second-quarter earnings missed Wall Street estimates and it slashed full-year guidance, as a promotional athletic footwear market hit the Foot Locker chain it acquired less than a year ago.
Charter completes $3.4 billion bond exchange as it digests $34.5 billion Cox deal
Charter Communications finalized a bond exchange refinancing roughly $3.4 billion of debt on Monday, the closing piece of a financing push that comes days after the cable company completed its $34.5 billion acquisition of Cox Communications, forming the largest cable and broadband operator in the country.
FTC tells appeals court Amgen's Enbrel patent deal isn't shielded from antitrust law
In a Fourth Circuit filing, the Federal Trade Commission rejected Amgen's claim that its 2004 acquisition of Roche patent rights covering Enbrel is immune from antitrust review, a case that could reshape how drugmakers defend delays to biosimilar competition.
FTC settles antitrust case against Zillow and Redfin over $100 million rental-listings deal
On the eve of trial, the Federal Trade Commission reached a settlement with Zillow and Redfin resolving claims that Zillow illegally paid Redfin $100 million to exit the rental-advertising market, requiring Redfin to rebuild a competing listings business within six months.
Monte dei Paschi launches €34 billion dual bid for Banco BPM and Banca Generali
Italy's oldest bank moved to acquire two larger rivals in an all-share deal, a defensive maneuver against a hostile takeover bid from Intesa Sanpaolo that is reshaping the country's banking landscape.
Walmart shares tumble 9% despite earnings beat as US shoppers pull back
Walmart's second-quarter profit and revenue topped Wall Street's estimates, but the retailer's stock posted its steepest drop in years after US comparable-sales growth slowed sharply and executives gave a subdued outlook for the current quarter.