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Standard General Agrees to Buy Out Bally
Hedge fund Standard General agreed to buy the balance of shares in casino chain Bally’s in a deal that values the firm at about $4.6 billion.
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Universal Music Sheds $13 Billion in Market Cap After Streaming Revenue Disappoints
The record label behind Taylor Swift, Billie Eilish and Ariana Grande posted revenue growth from subscriptions and streaming services well below what analysts had expected.
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Kroger, Albertsons Agree to Pause Merger as FTC, State Challenges Proceed
Deal between the two grocery-store operators has faced regulatory scrutiny since it was announced in October 2022.
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Hermes Bucks Luxury Slowdown With Higher Sales But Flags Weakness in China
The Birkin handbag maker reported higher sales for the second quarter, with wealthy customers helping it defy a global slowdown in demand that is troubling the luxury sector, but flagged signs of weakness in China.
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Uber and Lyft Win California Ruling to Treat Drivers as Contractors
The state’s Supreme Court decision preserves the gig-economy business model.
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Nvidia supplier SK Hynix posts highest quarterly profit in 6 years on AI chip leadership
SK Hynix on Thursday said that a continuous rise in overall prices of its memory products led to a 32% increase in revenue compared with the previous quarter.
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This JPMorgan ETF has beaten the S&P 500 five years in a row. Here’s how
The actively managed fund outperforms the index by 2.67 percentage points each year on average.
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Japan’s Nikkei drops 3% as Asia-Pacific markets slide, tracking Wall Street sell-off
South Korea’s GDP grew 2.3% year on year, lower than the 2.5% expected by economists polled by Reuters.