Latest Corporate News

This Week: Bank earns, retail sales, housing starts

Jul. 13, 2020 1:10 AM EDT

A look at some of the key business events and economic indicators upcoming this week: BANK EARNINGS Several major U.S. banks report quarterly results Tuesday. JPMorgan, Citigroup and Wells Fargo are set to deliver their earnings for the April-June quarter. Investors will be focusing on whether the banks’...

FILE - Copies of the McClatchy Co. owned Miami Herald newspaper are shown Oct. 14, 2009,  in Miami. Hedge fund Chatham Asset Management plans to buy newspaper publisher McClatchy out of bankruptcy, ending 163 years of family control. The companies did not put a price on the deal in an announcement Sunday, July 12, 2020. The agreement still needs the approval of a bankruptcy judge; a hearing is scheduled for July 24.
(AP Photo/Wilfredo Lee, File)

Chatham announces plan to buy newspaper publisher McClatchy

Jul. 12, 2020 3:25 PM EDT

NEW YORK (AP) — Hedge fund Chatham Asset Management plans to buy newspaper publisher McClatchy out of bankruptcy, ending 163 years of family control. The companies did not put a price on the deal in an announcement Sunday. The agreement still needs the approval of a bankruptcy judge; a hearing is scheduled...

Kentucky’s former Democratic Party chief to be sentenced

Jul. 12, 2020 1:13 PM EDT

FRANKFORT, Ky. (AP) — Federal prosecutors are seeking prison time for Kentucky's former Democratic Party chief when he is sentenced this week, but attorneys for Jerry Lundergan are seeking probation. Lundergan and a codefendant are set to be sentenced July 16 in federal court in Frankfort, the Lexington...

This Nov.3 2017 file photo shows visitors playing Assassin's Creed video game at the Ubisoft stand at the Paris Games Week in Paris. French gaming giant Ubisoft is parting ways with its creative director and two other executives following an internal investigation of misconduct and media reports of sexual harassment. (AP Photo/Kamil Zihnioglu, File)

Games maker Ubisoft shakes up staff amid misconduct probe

Jul. 12, 2020 7:39 AM EDT

PARIS (AP) — French gaming giant Ubisoft is parting ways with its creative director and two other executives and promising zero tolerance for “toxic" staff behavior following an internal investigation of misconduct and media reports of sexual harassment and other workplace abuse. In a statement...

FILE - In this Sept. 12, 2019, file photo, cars pass Purdue Pharma headquarters at night in Stamford, Conn. OxyContin maker Purdue Pharma should not be able to make any more political contributions without a judge's permission, lawyers for its creditors said in a Friday, July 10, 2020 court filing. (AP Photo/Frank Franklin II, File)

Lawyers seek to halt Purdue Pharma political contributions

Jul. 11, 2020 7:56 PM EDT

OxyContin maker Purdue Pharma should not be able to make any more political contributions without a judge's permission, lawyers for its creditors said in a court filing. The issue came up this week after it was reported that the company, which has a long history of influencing policymakers, made contributions to...

Gary Strafford, a Zimbabwean falconer, holds an owl inside one of the cages at his bird sanctuary, Kuimba Shiri, near Harare, Zimbabwe, Wednesday, June, 17, 2020. Kuimba Shiri, Zimbabwe's only bird park, has survived tumultuous times, including violent land invasions and a devastating economic collapse. Now the outbreak of COVID-19 is proving a stern test. With Zimbabwe’s inflation currently at more than 750%, tourism establishments are battling a vicious economic downturn worsened by the new coronavirus travel restrictions. (AP Photo/Tsvangirayi Mukwazhi)

Zimbabwe bird sanctuary has 400 species, not enough tourists

Jul. 11, 2020 3:08 AM EDT

HARARE, Zimbabwe (AP) — A fish eagle swoops over the water to grab a fish in its talons and then flies to its nest. Nearby are a martial eagle, a black eagle, an Egyptian vulture and hundreds of other birds. With an estimated 400 species of birds on an idyllic spot on Zimbabwe's Lake Chivero, about 40...

FILE - This July 31, 2019, file photo, shows the Federal Reserve logo ahead of the start of a scheduled news conference by Chairman Jerome Powell in Washington. The Federal Reserve says it purchased $1.3 billion in corporate bonds in late June 2020 as part of its effort to keep U.S. interest rates low and ensure large companies can borrow by selling bonds. (AP Photo/Manuel Balce Ceneta, File)

Fed buys more corporate bonds but may soon end purchases

Jul. 10, 2020 7:55 PM EDT

WASHINGTON (AP) — The Federal Reserve said Friday that it purchased $1.3 billion in corporate bonds in late June as part of its effort to keep U.S. interest rates low and ensure large companies can borrow by selling bonds. The Fed bought bonds issued by several hundred large companies, including AT&T,...

President Donald Trump listens as Robert Unanue, of Goya Foods, speaks during a roundtable meeting with Hispanic leaders in the Cabinet Room, Thursday, July 9, 2020, in Washington. (AP Photo/Evan Vucci)

'A slap in the face:' Goya faces boycott over Trump praise

Jul. 10, 2020 5:34 PM EDT

NEW YORK (AP) — The CEO of food company Goya is facing an uproar over his praise for President Donald Trump, with some Latino families purging their pantries of the products and scrambling to find alternatives to the beloved beans, seasoning and other products that have long been fixtures in their cooking....

Closing prices for crude oil, gold and other commodities

Jul. 10, 2020 4:35 PM EDT

Benchmark U.S. crude oil for August delivery rose 93 cents to settle at $40.55 a barrel Friday. Brent crude oil for September delivery gained 89 cents to $43.24 a barrel. Wholesale gasoline for August delivery added 3 cents to $1.28 a gallon. August heating oil gained 2 cents to $1.24 a gallon. August natural gas...

Gilead Sciences, Matson rise; WD-40, Eli Lilly fall

Jul. 10, 2020 4:20 PM EDT

NEW YORK (AP) — Stocks that moved heavily or traded substantially on Friday: WD-40 Co., down $6.44 to $194.06. The lubricant maker reported disappointing second-quarter financial results. Matson Inc., up $9.13 to $36.49. The shipping and logistics company gave investors an encouraging second-quarter...