Category: Business

United Airlines Holdings Inc (UAL.O) on Tuesday announced a public offering to raise more than $1 billion, the first major airline to sell equity to help it survive a sharp travel downturn in the coronavirus pandemic. The offer of 39.25 million shares, underwritten by Morgan Stanley and Barclays, was priced at $26.50 per share, United […]

Canadian exercise apparel brand Lululemon (LULU.O) issued statements on Tuesday apologizing for, and distancing itself from, a T-shirt design promoted by one of its art directors that triggered outrage and accusations of racism online. The hashtag “Lululemon insults China” was viewed 204 million times on China’s Weibo platform by Tuesday afternoon, with some commentators demanding […]

The Trump administration is considering the possibility of providing liability protection to small businesses that reopen and put their employees back to work as the nation tries to repair the economic damage wrought by the coronavirus, a top White House adviser said on Tuesday. “Liability protection is something we are looking at very carefully,” National […]

Ten of the world’s largest banks, including JPMorgan Chase and Bank of America, have been sued for allegedly conspiring over nearly 14 years to rig prices in the $9.6 trillion U.S. corporate bond market, costing ordinary investors billions of dollars. The proposed class action filed on Tuesday in federal court in Manhattan said the banks […]

Lawmakers and former officials are making a last-ditch push to persuade the Trump administration to halt plans to invest billions of federal employee retirement dollars in Chinese companies that Washington suspects of human rights abuses or threatening U.S. security, according to sources and documents seen by Reuters. The campaign, which includes letters and calls from […]

The U.S. housing regulator on Tuesday provided some long-awaited relief for mortgage firms facing billions of dollars of missed home loan repayments, although industry officials said more liquidity assistance was needed. The Federal Housing Finance Agency said it would cap the number of payments mortgage companies must advance to investors in some government-backed mortgage bonds […]

Virgin Galactic Holdings Inc (SPCE.N) Chairman Chamath Palihapitiya on Tuesday raised $720 million for a new blank-check company, 20% more than its original target, after the coronavirus crisis upended plans last month. The IPO represents a rare example of a stock market debut braving the volatility fueled by the economic fallout of the pandemic. Only […]