In the wake of McKinsey’s $600 million settlement with states over sales advice it had given drugmakers on opioids, partners at the consulting powerhouse have voted out the firm’s top executive, Kevin Sneader. ...more
The European Union has unveiled a new antitrust probe and accompanying charges against Amazon over alleged the “use of non-public business data from independent sellers on its marketplace that could benefit the company’s own...more
ConocoPhillips is doubling down on its commitment to the Midland basin by buying Concho Resources Inc. in “an all-stock transaction valued at $9.7 billion,” even “as the American shale-drilling industry is facing a downturn...more
New Disney CEO Bob Chapek made one of his biggest moves yet since taking the reins, announcing a realignment “of its business divisions on Monday that placed the focus squarely on Disney+ and its other streaming services as...more
Last Friday’s US Jobs Report saw unemployment fall to 8.4%, but the end of federal aid programs and a solid-but-not-gangbusters 1.4 million jobs gained in August leads many to fear a much worse employment picture ahead....more
Optimism over promising results for a coronavirus vaccine from Moderna helped drive stocks up on Monday after a rough go of it last week....more
The U.S. Jobs Report Will Be Ugly: The March jobs report will likely show the worst numbers in the “post-World War II era,” and “it is playing out in a matter of weeks,” not years. One study suggests the U.S. has lost 27.9...more
The fallout of COVID-19 continues: “S&P 500 futures fell nearly 4%;” the yield on 10-year U.S. Treasury notes fell to 0.788%; Brent crude fell by 4.6%; the stimulus and fiscal relief package hit a roadblock in the Senate; and...more
It’s been a week or so, and we’re running out of ways to say that this is bad. But it certainly is. Your bear market stats for the day: the biggest daily drop by percentage for both the S&P 500 and the Dow Jones Industrial...more