Slack stock surges at debut, values company at more than $23 billion
Shares of Slack Technologies Inc, the fast-growing workplace messaging and communication platform, soared nearly 50% in their public trading debut on Thursday, valuing the company at more than $23 billion.
Martin Shkreli settles all litigation with his former company Retrophin
Martin Shkreli, the pharmaceutical entrepreneur serving a seven-year prison term for fraud, has settled all outstanding disputes with Retrophin Inc, the biopharmaceutical company he founded in 2011 and which ousted him three years later.
Merck CEO sees legal challenge if U.S. adopts drug pricing based on other countries
Merck & Co Chief Executive Ken Frazier said on Thursday a rule to base the price the U.S. government pays for some prescription drugs in it Medicare program on lower prices in other countries would face legal challenges if adopted.
Fed rate-cut sign boosts stocks, dollar drops
World stock markets jumped on Thursday, with the U.S. benchmark S&P 500 hitting a record high, while the 10-year U.S. Treasury note yield dipped below 2% as investors digested a signal from the Federal Reserve of potential U.S. interest rate cuts as soon as its next meeting.
Retailers J.C.Penney, Macy’s oppose proposed tariffs on apparel, footwear
Department store operators J.C. Penney Co Inc and Macy’s Inc have opposed U.S. President Donald Trump’s proposal to include apparel and footwear among the Chinese goods targeted for tariffs.
Exclusive: Chevron Phillips Chemical in bid to acquire Nova Chemicals – sources
Chevron Phillips Chemical Company, a joint venture between Chevron Corp and Phillips 66, has offered to acquire Nova Chemicals Corp for more than $15 billion including debt, people familiar with the matter said on Thursday.
Exclusive: Deutsche Bank braced for continued Fed restrictions on U.S. business – sources
Deutsche Bank AG executives expect U.S. regulators to continue to impose restrictions on its Wall Street investment bank even if it passes an annual health check, three sources familiar with the matter said.
Rate-cut euphoria elevates S&P 500 to record high
The S&P 500 hit a record high on Thursday, lifted by Wall Street’s expectations that the Federal Reserve will cut interest rates as soon as next month to keep the U.S.-China trade war from stalling economic growth.
Sparkly unicorn ice cream: Kroger’s bid to win grocery wars
(This June 20 story is refiled to correct typographical error in paragraph five.)
Slack stock surges at debut, values company at more than $25 billion
Shares of Slack Technologies Inc, the fast-growing workplace messaging and communication platform, soared nearly 60% in their public trading debut on Thursday, valuing the company at more than $25 billion.
