Corporate news

February 25, 2020 - 8:52 am
The generic drugmaker Mallinckrodt has a tentative $1.6 billion deal to settle lawsuits over its role in the U.S. opioid crisis, it announced Tuesday. The company said that it had an agreement with a key committee of lawyers representing thousands of local governments suing various drug industry...
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In this Monday, Jan. 27, 2020 photo a passer-by, below left, walks toward an entrance to a Home Depot store location, in Boston. Home Depot Inc. reports financial results on Tuesday, Feb. 25. (AP Photo/Steven Senne)
February 25, 2020 - 8:20 am
Home Depot reported a better-than-expected fourth quarter with strong comparable-store sales. The home improvement retailer also boosted its quarterly dividend by 10%. Shares rose 3% in premarket trading Tuesday. “Home Depot’s numbers are important as they, perhaps more than those of other...
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FILE - In this Nov. 29, 2019, file photo a shopper leaves Macy's department store with bags in both hands during Black Friday shopping in New York. Macy's reports financial results on Tuesday, Feb. 25, 2020. (AP Photo/Bebeto Matthews)
February 25, 2020 - 7:04 am
NEW YORK (AP) — Macy's reported stronger-than-expected sales and profits for the fourth quarter less than a month after it announced a major restructuring. Shares are up 3% before the opening bell Tuesday. The quarterly report comes three weeks after the department store chain said it was closing...
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February 25, 2020 - 7:02 am
Mastercard is naming an insider as its new CEO. Michael Miebach, who is currently the company's chief product officer, will takeover for CEO Ajay Banga to start 2021. Banja will become the company's executive chairman, replacing the retiring Richard Haythornthwaite. Miebach will also get a seat on...
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Vanessa Bryant is helped off the stage by former NBA player Michael Jordan after speaking during a celebration of life for her husband Kobe Bryant and daughter Gianna Monday, Feb. 24, 2020, in Los Angeles. (AP Photo/Marcio Jose Sanchez)
February 24, 2020 - 2:21 pm
LOS ANGELES (AP) — The Latest on the public memorial for Kobe Bryant and his daughter Gianna in downtown Los Angeles (all times local): 12:20 p.m. NBA legend Michael Jordan said at a public memorial that “when Kobe Bryant died, a piece of me died.” He said Monday at the Staples Center that a piece...
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FILE - In this May 5, 2019, file photo Warren Buffett, Chairman and CEO of Berkshire Hathaway, smiles as he plays bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Neb. Berkshire Hathaway Inc. reports earnings on Saturday, Feb. 22, 2020. (AP Photo/Nati Harnik, File)
February 22, 2020 - 12:35 pm
OMAHA, Neb. (AP) — Taking advice from Wall Street on deals is a bit like asking “the barber whether you need a haircut,” according to billionaire Warren Buffett. Buffett said in his annual letter to Berkshire Hathaway shareholders Saturday that the current system of reviewing deals doesn't always...
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February 22, 2020 - 11:18 am
WEST HARTFORD, Conn. (AP) — An investigation has revealed multiple credible allegations of sexual and physical abuse by former faculty and staff spanning decades at a school for deaf children in Connecticut, school officials said Friday. The American School for the Deaf in West Hartford released...
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FILE - In this Nov. 1, 2018, file photo, Patrick Morrisey speaks to reporters after a debate in Morgantown, W.Va. State attorneys general are finding a national settlement over the toll of opioids to be elusive, as some lawyers for state and local governments are renewing public criticism of the proposed deal with a group of companies led by the nation's largest drug distributors. In a statement Friday, Feb. 21, 2020, Morrisey, the attorney general in West Virginia, one of the states hit hardest by the opioid crisis, said the $22 billion in cash being offered by distributors AmerisourceBergen, Cardinal Health and McKesson plus drugmaker Johnson & Johnson “is way too low.”(AP Photo/Raymond Thompson, File)
February 22, 2020 - 8:47 am
State attorneys general are finding a national settlement over the toll of opioids to be elusive, as some lawyers for state and local governments are renewing public criticism of the proposed deal with a group of companies led by the nation's largest drug distributors. A group of top state lawyers...
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FILE - In this Jan. 31, 2020 file photo, former United States Secretary of Agriculture Tom Vilsack speaks at a campaign stop for Democratic presidential candidate former Vice President Joe Biden at the LOFT on Jefferson, in Burlington, Iowa. Vilsack will oversee Purdue Pharma’s marketing efforts to ensure the OxyContin maker is not overstating the benefits of its opioid painkillers and downplays the danger of addiction, a strategy that critics say contributed to the nation’s overdose crisis Purdue Pharma announced Vilsack as its monitor on Friday, Feb. 21.(AP Photo/Andrew Harnik, File)
February 21, 2020 - 6:52 pm
WHITE PLAINS, N.Y. (AP) — Tom Vilsack, a former Iowa governor and U.S agriculture secretary, will monitor Purdue Pharma to ensure the OxyContin maker does not revive an aggressive marketing effort that critics say overstated the benefits of its opioid painkillers and downplayed the danger of...
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Democratic presidential candidate and former New York City Mayor Mike Bloomberg waves after speaking at a campaign event, Thursday, Feb. 20, 2020, in Salt Lake City. (AP Photo/Rick Bowmer)
February 21, 2020 - 5:44 pm
WASHINGTON (AP) — Mike Bloomberg said Friday he’d free three women from confidentiality agreements that bar them from speaking publicly about sexual harassment or discrimination suits filed against him over the last three decades. The billionaire former mayor of New York also said his company,...
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