61.3 F
New York
Wednesday, September 23, 2020
On Tuesday, shares of Eastman Kodak surged 40 percent higher after D.E. Shaw disclosed its interest in the company. On Monday evening, an SEC filing showed that hedge fund manager Shaw had a 5.2 percent stake in the photographic business. D.E. Shaw is a...
Vanguard said it is moving $125.3 billion of its Prime Money Market Fund into a U.S. government-backed money market fund. The investment advisory firm said it will make the changes in September and is renaming the new government offering Vanguard Cash Reserves Federal Money Market Fund. Vanguard...
On Monday, Amazon received federal approval from the FAA to begin operations delivering packages by drones. The Federal Aviation Administration said Amazon can now “safely and efficiently deliver packages” to its customers via its unmanned aircraft systems. The FAA regulates the certification of drone...
On Friday, Apple announced that it was terminating Epic Games’ developer account. The move means that Epic will no longer be able to make apps for Apple’s iPhone, Mac, or iPad. However, an account associated with Unreal Engine won’t be impacted by the move. Unreal Engine is...
MGM Resorts said it’s sending separation letters to one-quarter of its pre-pandemic workforce, that is, 18,000 of its previously furloughed employees. The Paradise, Nevada-based company, said it would recall more workers as it reopens its businesses and adds to its operations. In the meantime, MGM plans to...
On Friday, one of the world’s most popular beverage companies announced a restructuring plan that includes voluntary layoffs of at least 4,000 of its workers. The layoffs will impact employees in the U.S., Puerto Rico, and Canada who have been with the company since September 1, 2017,...
The pioneer of commission-free investing, Robinhood, has announced that its latest funding round has reached $200 million. The generous investment has increased Robinhood’s valuation from $8.6 billion to $11.2 billion. It also marked the third cash infusion into the brokerage and investment firm in four months.
Blend, the digital mortgage startup platform, has raised $75 million in new funding during its Series F funding round. Fintech Canapi Ventures led the round spearheaded by managing partner Gene Ludwig, Founder of Promontory Financial Group and a former U.S. regulator. Blend’s existing investors, including Greylock, General...
Tesla is the latest company to announce a stock split. This past week, the electric car maker announced that its Board of Directors had approved a five-for-one stock split of its common stock. The news sent shares soaring after the announcement, and the momentum has kept going...
Amazon has severed ties with several of its U.S. Delivery Service Partners (DSPs), and the move is resulting in the layoffs of more than 1,200 drivers. The small delivery firms are also pulling out of Amazon’s facilities at a record pace. Amazon recently bragged...