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This combination photo shows Meg Whitman at The Hollywood Reporter's Women in Entertainment Breakfast Gala in Los Angeles on Dec. 11, 2019, left, and Jeffrey Katzenberg at the 26th annual Screen Actors Guild Awards in Los Angeles on Jan. 19, 2020. Katzenberg and Whitman are bringing Quibi to a phone near you with movies, shows and news served in quick bites. (AP Photo)

Short-video app Quibi shutting down just months after launch

Oct. 21, 2020 6:23 PM EDT

Short-video app Quibi said it is shutting down just six months after its early April launch, having struggled to find customers. The company said Wednesday that it would wind down its operations and plans to sell its assets. “Quibi is not succeeding," its top executives bluntly declared in a letter...

Buffett's firm to pay $4.1M fine for subsidiary's Iran sales

Oct. 20, 2020 6:28 PM EDT

OMAHA, Neb. (AP) — Warren Buffett's company has agreed to pay a $4.1 million fine because one of its subsidiaries improperly sold equipment that was destined for Iran in violation of U.S. sanctions. The Treasury Department announced the settlement with Buffett's Berkshire Hathaway on Tuesday. The fine...

AMC, BioSpecifics rise; American Equity, Host Hotels fall

Oct. 19, 2020 4:14 PM EDT

NEW YORK (AP) — Stocks that moved heavily or traded substantially Monday: ConocoPhillips, down $1.07 to $32.70 The energy company is buying rival Concho Resources in an all-stock deal valued at $9.7 billion. American Equity Investment Life, down $4.81 to $27.49 The life insurance company is selling a 19.9%...

Germany halts purchase of new army rifles amid patent claim

Oct. 9, 2020 12:55 PM EDT

BERLIN (AP) — The German government said Friday it has halted the planned purchase of next-generation assault rifles for the military, following claims that the chosen supplier may have breached a rival's patent. Germany's Defense Ministry said in a statement that it “obtained verifiable...

London Stock Exchange sells Italian unit for $5.1 billion

Oct. 9, 2020 7:33 AM EDT

LONDON (AP) — The London Stock Exchange Group has agreed to sell its holding in the parent company of the Italian stock exchange to rival Euronext for at least 4.33 billion euros ($5.11 billion). The LSE said Friday that it began talks to sell Borsa Italiana Group because of expectations that European...

Lori Gonzalez, left, and Rachel Spray carry flowers to the temporary grave marker of Gonzalez's sister and Kaiser Permanente Fresno Medical Center nurse, Sandra Oldfield, at the Sanger Cemetery in Sanger, Calif., Saturday, Aug. 29, 2020. Oldfield died after being exposed to the novel coronavirus. Workers at the hospital said they did not have the proper personal protective equipment. (AP Photo/Gary Kazanjian)

US medical supply chains failed, and COVID deaths followed

Oct. 8, 2020 11:33 AM EDT

Nurse Sandra Oldfield’s patient didn’t have the usual symptoms of COVID-19 — yet. But then he tested positive for the virus, and it was clear that Oldfield — a veteran, 53-year-old caregiver — had been exposed. She was sent home by Kaiser Permanente officials with instructions...

Comment being accepted on hospital sale proceeds, foundation

Oct. 7, 2020 1:30 AM EDT

CONCORD, N.H. (AP) — The New Hampshire attorney general's office is accepting public comment on the proposed use of proceeds from the sale of Frisbie Memorial Hospital, of Rochester. The hospital was sold to FMH Health Services LLC, as well as the assets of the Frisbie Foundation Inc. A new nonprofit...

South African company to sell $2B stake in Louisiana plants

Oct. 6, 2020 2:54 PM EDT

LAKE CHARLES, La. (AP) — A South African energy and chemical company has announced it is selling 50% stake in three of its plants in Louisiana to another company. Sasol Ltd., which operates the facility in Lake Charles, said it has entered into an agreement to form the joint venture with Houston-based...

FILE - In this Tuesday July 17, 2007 filer, shoppers enter the Asda supermarket in Wallington, England. Retail giant Walmart has agreed to sell its British chain of supermarkets, Asda, to the investors behind an international group of gas stations and food shops in a deal that values the company at 6.8 billion pounds ($8.8 billion). Brothers Mohsin and Zuber Issa, along with investors TDR Capital will acquire a majority of Asda, while Walmart will retain a minority stake and a seat of the board, the parties said in a joint statement issued Friday. Details of the deal weren’t released. (AP Photo/Tom Hevezi, File)

Walmart to sell UK chain Asda in $8.8 billion deal

Oct. 2, 2020 9:42 AM EDT

LONDON (AP) — Retail giant Walmart has agreed to sell its British chain of supermarkets, Asda, to the investors behind an international group of gas stations and food shops in a deal that values the company at 6.8 billion pounds ($8.8 billion). Brothers Mohsin and Zuber Issa, along with investors TDR...

Customers make bets at the William Hill sportsbook inside the Tropicana casino in Atlantic City N.J., on March 8, 2019. Caesars Entertainment announced Wednesday, Sept. 30, 2020, it is buying William Hill for $3.7 billion. (AP Photo/Wayne Parry)

Caesars Entertainment buys bookmaker William Hill for $3.7B

Sep. 30, 2020 12:37 PM EDT

ATLANTIC CITY, N.J. (AP) — Caesars Entertainment said Wednesday it is buying the British bookmaker William Hill for $3.7 billion in a deal aimed at binding its casinos ever closer to the fast-growing legal sports betting industry in the U.S. Caesars said it is interested in the the company's U.S. assets,...