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Elanco becomes 2nd largest animal health co after $7.6B deal

Aug. 20, 2019 9:19 AM EDT

INDIANAPOLIS (AP) — Elanco Animal Health will spend $7.6 billion to acquire Bayer AG's veterinary medicines business, which would make it the second-largest animal health company. Elanco said Tuesday that it will pay $5.3 billion, or about 70% of the total price, in cash and the rest in stock. The deal...

Whistleblower accuses GE of fraud, misleading investors

Aug. 15, 2019 6:11 PM EDT

NEW YORK (AP) — A whistleblower who warned regulators about Bernard Madoff's Ponzi scheme is now accusing General Electric of misleading investors, sending the company's stock on a downward spiral. Investigator Harry Markopolos accused GE on Thursday of engaging in accounting fraud worth $38 billion,...

Warren Buffett's firm adds to its Amazon, bank investments

Aug. 14, 2019 6:26 PM EDT

OMAHA, Neb. (AP) — Billionaire Warren Buffett's company has been adding more Amazon shares to its investment cart. Berkshire Hathaway said in filings with the Securities and Exchange Commission on Wednesday that it owned 537,300 Amazon shares at the end of June, up from 483,300 shares. Buffett first...

CBS, Viacom to reunite as media giants bulk up for streaming

Aug. 13, 2019 5:32 PM EDT

NEW YORK (AP) — The newly combined ViacomCBS will invest in more movies and TV shows and try to sell more advertising as it seeks to become a bigger player in the growing business of streaming video. Yet the bigger company still might not be big enough to be competitive, as larger rival Disney launches its...

Mattel shares sink on whistleblower letter

Aug. 9, 2019 9:58 AM EDT

NEW YORK (AP) — Shares in Mattel tumbled more than 10% in morning trading after the toymaker pulled a debt offering upon learning of a letter from an anonymous whistleblower. The details of the complaint were not revealed, but the company said late Thursday it was made aware of the letter on Tuesday....

Lyft posts losses despite revenue growth, improves outlook

Aug. 7, 2019 10:57 PM EDT

NEW YORK (AP) — Lyft continued to bleed money in its second quarter but says it expects to stem some of those losses, raising its outlook for 2019. The ride-hailing company on Wednesday posted revenue of $867.3 million, up 72% from the same time last year. But the San Francisco-based company lost $644.2...

Correction: Mylan-Pfizer story

Aug. 6, 2019 12:43 PM EDT

In a story July 29 about Pfizer and Mylan, The Associated Press erroneously described the drug Effexor. It is used to treat depression, not severe heartburn. A corrected version of the story is below: Pfizer, Mylan strengthen ties, create new company Pfizer, strengthening ties to Mylan, will pair its off-patent...

Beyond Meat tumbles after secondary offer is priced

Aug. 1, 2019 7:46 AM EDT

NEW YORK (AP) — Shares of Beyond Meat are tumbling before the opening bell after it opened a secondary stock offering at more than six times the price of its initial public offering just three months ago. In that time, shares are up 619%. The 10 year old company went public in May, selling shares for $25...

T-Mobile's $26.5B Sprint deal OK'd despite competition fears

Jul. 26, 2019 5:09 PM EDT

WASHINGTON (AP) — U.S. regulators have approved T-Mobile's $26.5 billion takeover of rival Sprint, despite fears of higher prices and job cuts, in a deal that would leave just three major cellphone companies in the country. Friday's approval from the Justice Department and five state attorneys general...

The Latest: Government case details sneaky Facebook behavior

Jul. 24, 2019 4:15 PM EDT

WASHINGTON (AP) — The Latest on U.S. fine against Facebook over privacy (all times local): 4:05 p.m. Wednesday's government complaint against Facebook describes numerous cases of sneaky behavior. When the 2012 Federal Trade Commission consent order took effect, Facebook placed a disclaimer at the top of...