Occidental Names Strategy Head Sunil Mathew as CFO
Occidental Petroleum Corp. appointed strategy chief Sunil Mathew as chief financial officer, replacing Rob Peterson, who’ll now lead the company’s chemical division.
Bloomberg Business
Avid to Be Acquired by Private Equity Firm STG for $1.4 Billion
Avid Technology Inc., a maker of audio and video editing tools, agreed to be acquired by private equity firm STG for about $1.4 billion, including debt.
Bitcoin Miner Riot Made Millions From Credits During Heat Wave
Bitcoin miner Riot Platforms Inc. made millions of dollars by selling power rather than producing the tokens in the second quarter as the crypto-mining industry continued to grapple with the impact of low digital asset prices.
Disney Rises After Management Cuts Capex, Spending Outlook
Walt Disney Co. rose more than 6% in extended trading after management of the world’s largest entertainment company said capital spending and outlays for movies and TV shows are coming in lower than projected.
Prosecutors Accused of Pressuring Frank Founder Javice With Suit-Delay Request
Charlie Javice accused US prosecutors of trying to turn up the heat in the criminal fraud case against her by blocking information exchanges in a separate lawsuit filed by JPMorgan Chase & Co., which claims she tricked the bank into buying her Frank college financial-planning website.
Citadel Securities Boosts Fixed-Income Presence With New Bond Trade
Ken Griffin’s market-making giant is poised to offer trades in zero-coupon Treasuries, as it ramps up its presence in the world’s largest fixed-income industry.
Stock Traders Shun Risk in Run-Up to Key CPI Test: Markets Wrap
A slide in big tech and higher energy prices weighed on Wall Street sentiment ahead of inflation data that will help shape the outlook for the Federal Reserve’s next steps.
WeWork’s ‘Substantial Doubt’ About Its Future Marks a Stunning Fall
For the past four years, WeWork Inc. has been trying to deliver a turnaround story — one in which the rowdy co-working startup transforms into a stable, profitable public company. It sloughed off Adam Neumann, its rambunctious co-founder and former chief executive officer, and replaced him with an industry veteran boasting a reputation of saving troubled real estate companies.
Biden Says His Economy Is Sparking a Manufacturing Renaissance
President Joe Biden said his policies are creating a US manufacturing renaissance, seeking to rally skeptical Americans behind his economic agenda on the first anniversary of the passage of one of its pillars.
Maduro Regime Wins €1.35 Billion Order to Return Venezuela Funds
A Portuguese court ordered Novo Banco SA to reimburse around €1.35 billion to nine entities controlled by Venezuela’s socialist government.