Latest Asset sales News

Locked Up: The prison labor that built business empires

Sep. 22, 2022 17:22 PM EDT

More than 150 years ago, a prison complex known as the Lone Rock stockade operated at one of the biggest coal mines in Tennessee. It was powered largely by African American men who had been arrested for minor offenses — like stealing a hog — if they committed any crime at all....

Port operator faces $21M in damages over buyout dispute

Sep. 19, 2022 18:57 PM EDT

DOVER, Del. (AP) — The company that privatized operations at the port of Wilmington several years ago owes more than $21 million in damages for breaching an agreement to buy the port’s former stevedoring firm, a Delaware judge ruled Monday. Vice Chancellor Lori Will also found GT...

Adobe buying Figma in $20B cash-and-stock deal

Sep. 15, 2022 09:17 AM EDT

Software company Adobe is buying online design company Figma in an approximately $20 billion cash-and-stock deal. Figma, founded in 2012, allows those who design interactive mobile and web applications to collaborate through multi-player workflows, sophisticated design systems and a...

Volkswagen truck units selling Russia business activities

Sep. 13, 2022 08:23 AM EDT

BERLIN (AP) — Volkswagen truck subsidiary Traton said Tuesday that two of its divisions are selling their business activities in Russia to local partners, transactions expected to lead to a loss of up to 550 million euros (dollars). Traton said both MAN Truck & Bus and Scania...

SEC questions Twitter on how it counts fake accounts

Aug. 24, 2022 19:16 PM EDT

DETROIT (AP) — U.S. securities regulators are questioning Twitter about the way it determines how many fake accounts are on its platform. The Securities and Exchange Commission in June asked the company about its methodology for calculating false or spam accounts and "the...

Rare earths processor buys rights to mine in Greenland

Aug. 23, 2022 07:45 AM EDT

BEIJING (AP) — One of the world’s few rare earths processors outside China has bought exploration rights to mine in Greenland, opening an avenue for diversifying supplies of the minerals critical for advanced and green technologies. Rare earths are a group of minerals used in the...

Stars Coffee, anyone? Starbucks successor opening in Russia

Aug. 18, 2022 15:01 PM EDT

MOSCOW (AP) — People in Moscow who were disappointed when Starbucks closed its coffee shops after Russia sent troops into Ukraine may now feel a caffeine jolt of hope: A nearly identical operation is opening in the capital. The name's almost the same: Stars Coffee. The logo could...

'Quasi-preneurs' see opportunity, challenges in franchising

Aug. 06, 2022 10:15 AM EDT

NEW YORK (AP) — In 2020, Kelly Jackson and Davina Arceneaux wanted to leave their company jobs and become business owners. They were looking for something both COVID-proof and recession-resistant. Instead of completely stepping out from under a corporate umbrella, they looked at...

States reach deal over marketing, safety of generic opioids

Jul. 29, 2022 14:31 PM EDT

HARRISBURG, Pa. (AP) — A former opioid manufacturer has agreed in principle to pay up to $2.4 billion in a deal with a dozen states over its marketing and product safety practices, state attorneys general announced Friday. The company, Allergan, is now part of AbbVie but sold its...

Company wants $14M to get out of Oregon mega dairy

Jul. 26, 2022 15:17 PM EDT

SALEM, Ore. (AP) — The company that bought a troubled mega dairy plant in northern Oregon several years ago may be ready to give up their efforts toward reopening it, according to new documents that show repeated setbacks. Easterday Dairy has been repeatedly cited for failing to...