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Marriott Cuts Jobs, Sends Thousands On Furlough, CEO Calls Coronavirus Worse Than 9/11
Sunday, March 22, 2020 - 11:11pm | 455Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter. Marriott International Inc. (NASDAQ: MAR) and other hotel owners are sending thousands of staff on furlough or cutting jobs entirely due to the...
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Food Delivery, Ride-Hailing Companies Plan Contingency Fund For Drivers
Monday, March 9, 2020 - 3:45pm | 406Food delivery and ride-hailing companies including Uber Technologies Inc (NYSE: UBER) and Lyft Inc (NASDAQ: LYFT) are looking to set up a fund to pay drivers who will be impacted by the coronavirus. What Happened Uber, Lyft, along with DoorDash, Postmates, and Instacart are all exploring ways to...
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Sprint Trades At 40% Discount To T-Mobile Deal Terms
Wednesday, January 15, 2020 - 11:55am | 412Investors appear to be under the impression T-Mobile Us Inc (NASDAQ: TMUS)'s proposed acquisition of Sprint Corp (NYSE: S) will fail, as Sprint's stock is trading at a notable discount, The Wall Street Journal reported Wednesday. Sprint Shares Trade At Discount To Deal Terms...
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Uber Joins Postmates In Last-Minute Effort To Repeal California Gig Law
Tuesday, December 31, 2019 - 10:57am | 366Ride-hailing company Uber Technologies Inc (NYSE: UBER) is teaming up with Postmates in a last-minute effort to challenge a new California law concerning gig workers set to kick in Wednesday. What Happened California law will mandate ride-hailing or food delivery companies treat drivers as...
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YouTube To Limit Data It Collects On Kids Videos
Monday, December 30, 2019 - 1:52pm | 405Streaming video giant YouTube will minimize the amount of data it collects on videos targeted children in the coming weeks, The Wall Street Journal reported. What Happened Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL)'s YouTube unit will implement several changes on how it treats videos targeted...
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Under Armour Is Investigated For Accounting Fraud
Monday, November 4, 2019 - 6:17am | 309Sportswear manufacturer Under Armour, Inc. (NYSE: UAA) is facing a federal investigation into its accounting practices, The Wall Street Journal reported on Sunday. What Happened The Justice Department is conducting a criminal inquiry into whether the company fudged its sales numbers to...
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More US State Attorneys General Join Facebook Antitrust Probe
Wednesday, October 23, 2019 - 2:02am | 437A total of 47 state attorneys general in the United States have now joined the antitrust probe involving accusations that social media giant Facebook Inc (NASDAQ: FB) risked consumer data and inflated advertising prices, Reuters reports. What Happened The Facebook probe is part of a broader...
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WeWork Delays IPO Plans For Now
Tuesday, September 17, 2019 - 9:08am | 297Jim Cramer is sort of getting what he wished for: WeWork has made the decision to hold off on its highly publicized initial public offering. What Happened WeWork, the office-sharing startup company, was valued as high as $47 billion during private rounds of financing but may now be worth between $...
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Report: Capital One Cyberbreach A Result Of High Turnover
Friday, August 16, 2019 - 9:34am | 396Capital One Financial Corp. (NYSE: COF) lost one-third of its employees in its cybersecurity unit in 2018 which may have culminated in the July 2019 data breach, The Wall Street Journal reported. What Happened Capital One's cybersecurity unit suffered high amounts of turnover and may have...
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Huawei To Google: We Don't Need You Anymore
Friday, August 9, 2019 - 10:26am | 457Chinese tech giant Huawei unveiled a solution Friday to being shunned by U.S. companies: its own operating system. What Happened Huawei was placed on a U.S. government blacklist in May and Alphabet Inc (NASDAQ: GOOG)(NASDAQ: GOOGL) quickly suspended business activity with the Chinese...
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Big Tech Faces Big Scrutiny: FTC Looking Into Facebook, Federal Reserve Pays Amazon A Visit
Friday, August 2, 2019 - 9:27am | 421Big tech faces new scrutiny from regulatory and government bodies as the Federal Trade Commission is taking a close look at Facebook, Inc. (NASDAQ: FB)'s acquisition history. Meanwhile, the Federal Reserve reportedly paid Amazon.com, Inc. (NASDAQ: AMZN) a visit to examine its cloud business....
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Report: Apple Might Buy Intel's Smartphone-Modem Division
Tuesday, July 23, 2019 - 8:50am | 319Shares of Intel Corporation (NASDAQ: INTC) were trading higher Tuesday morning after The Wall Street Journal reported the company's smartphone-modem chip business could be sold to Apple Inc. (NASDAQ: AAPL) What To Know Sources close to the matter told WSJ Intel could sell its smartphone-model...
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Huawei Acknowledges Potential $30B Revenue Shortfall
Monday, June 17, 2019 - 9:00am | 470U.S. President Donald Trump's administration banned China's Huawei from buying certain components made by American firms, which could cost the company tens of billions of dollars. What Happened Huawei founder Ren Zhengfei said during a panel discussion in China it now expects 2019 revenue...
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Lyft Q1 Earnings Preview: First Quarterly Report As A Public Company
Tuesday, May 7, 2019 - 9:17am | 415Lyft Inc (NASDAQ: LYFT) became a public company in March and is scheduled to report its first-quarter results after Tuesday's market close. What To Know Street analysts are modeling Lyft to report a loss of $978 million -- on an adjusted basis, a loss of about $274.1 million, or $3.77 a share...
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Report: Sinclair To Buy Regional Sports Networks From Disney
Friday, May 3, 2019 - 9:42am | 342Sinclair Broadcast Group Inc (NASDAQ: SBGI) reportedly reached a deal to buy 21 different regional sports networks from Walt Disney Co (NYSE: DIS), sources told The Wall Street Journal. What Happened Sinclair, the biggest owner of local TV stations, would become a major force in cable programming...