Yellow Sparks Bidding War to Replace Apollo-Led Bankruptcy Loan
Yellow Corp. has sparked a bidding war between investment firms and a rival trucker interested in funding the now-shuttered company’s liquidation.
Bloomberg Business
Biden-Backed Bus Maker Got Millions in Aid Before Bankruptcy
Proterra Inc., the electric bus maker touted by President Joe Biden that filed for bankruptcy this week, was the recipient of millions of dollars in US Covid-relief government aid.
Illumina Slides After Slashing Full-Year Forecast
Shares of Illumina Inc. dropped as much as 7% in late trading after the company cut its sales and profit outlook and said a pair of top executives are departing.
Disney Raises Prices for Streaming Services by as Much as 27%
Walt Disney Co. is raising the prices of its streaming services, including a 27% increase for the advertising-free version of the flagship Disney+.
Maui Wildfires Kill 6, Destroy Historic Town as Residents Flee
Wildfires fanned by winds from a far-off hurricane burned portions of Maui, killing six, torching the historic town of Lahaina and forcing people to flee into the sea.
With WeWork’s Very Existence in Doubt, Wall Street’s Last Bull Folds
WeWork Inc. can’t catch a break. The co-working space provider has been a penny stock since March, without a CEO for two months and the commercial real estate market has weathered obstacle after obstacle.
AI Lender Upstart’s 445% Rally Fades After Outlook Dampens Frenzy
Upstart Holdings Inc.’s breakneck rally is losing momentum after the lending platform that uses artificial intelligence provided a disappointing outlook.
Biden Supports Aid for Victims of ‘Oppenheimer’ Nuclear Test
President Joe Biden endorsed efforts to provide federal assistance to people affected by the 1945 Trinity nuclear test recently portrayed in the film Oppenheimer.
WeWork’s Struggles Threaten More Pain for NYC’s Slumping Office Market
The collapse of WeWork Inc.’s second act is threatening to cause more pain for an embattled commercial-property market.
Oil Hits High for the Year as Supply Risks Grow in Tight Market
Oil climbed to the highest in almost nine months on concern that a possible escalation of the conflict between Russia and Ukraine may choke off more supplies in an already tightening market.