U.S. reaches settlement to recover over $49 million involving Malaysia’s 1MDB: DOJ
The United States has reached a settlement to recover more than $49 million involving Malaysian sovereign wealth fund 1MDB, the Department of Justice said.
Sinclair agrees to pay record-setting $48 million FCC civil penalty
Sinclair Broadcast Group has agreed to pay a $48 million fine to the Federal Communications Commission (FCC) resolving the probe into the company’s abandoned deal to buy Tribune Media in what the agency said was its largest-ever civil penalty.
Asia stocks set to track soft Wall Street lead amid pandemic worries
Asian stocks were set to come under pressure on Thursday as downbeat economic data pushed investors to safe havens and growing worries about falling demand sent oil prices lower.
PayPal sees strong second quarter as online spending surge
PayPal Holdings Inc said it expects a strong recovery in payments volumes in the second quarter as social distancing drives more people to shop online, even as lockdowns start to ease, sending its shares up 8% in extended trading.
Peloton gets lockdown boost as home workouts drive exercise bike sales
Peloton Interactive Inc raised its forecast for full-year revenue on Wednesday as “stay at home” orders led to a surge in sales of the company’s exercise bikes and fitness subscriptions, sending its shares up 5%.
T-Mobile beats phone subscriber estimates as lockdown creates demand surge
T-Mobile US Inc said on Wednesday it added more monthly bill paying phone subscribers than expected in the first quarter, thanks to a surge in demand for cheaper phone services as people work from home amid coronavirus lockdowns.
Lyft sees rider demand improve in late April, ‘on path to profitability’
Lyft Inc on Wednesday posted higher-than-expected revenue and the ride-hailing company vowed further cost cuts to become profitable, saying ridership hit by the coronavirus pandemic had improved in late April.
Peloton raises revenue forecast as people turn to home workouts in lockdowns
Peloton Interactive Inc raised its forecast for full-year revenue on Wednesday as “stay at home” orders encouraged more people to buy the company’s exercise bikes and fitness subscriptions plans.
S&P 500, Dow drop as financial sector declines counter tech gains
The S&P 500 and the Dow fell on Wednesday as declines in financials and defensive groups countered gains in tech shares and as data showed U.S. private employers laid off 20 million workers in April, underscoring the economic fallout of the coronavirus outbreak.
PayPal profit slumps as COVID-19 weighs on spending
PayPal Holdings Inc posted a 87.4% slump in quarterly profit on Wednesday as COVID-19 lockdowns hit consumer spending and forced the payments processor to boost its credit loss reserves, sending its shares down 3.7% in extended trading.
