Category: Business

Salesforce.com Inc and Slack Technologies Inc have received requests for additional information from the antitrust division of the U.S. Department of Justice related to their $27.7 billion merger, regulatory filings showed on Tuesday. The two companies were also asked to provide documentary material, the filings here showed. On Dec. 1, cloud computing company Salesforce.com agreed […]

Drone manufacturer EHang Holdings Ltd’s shares plunged on Tuesday after an investment research firm said it had shorted the stock and questioned the accuracy of what the Chinese company has said about its business. Guangzhou, China-based EHang’s shares closed 62.7% lower at $46.30 on Nasdaq. Wolfpack Research, which specializes in short-selling, or betting that shares […]

Hedge fund Melvin Capital Management on Tuesday disclosed it had raised the put option on Class A shares of U.S. video game chain GameStop Corp to 6 million shares for the quarter ended Dec. 31, from 5.4 million shares in the past quarter. The disclosure – which comes after a flood of retail trading drove […]

Oil major BP is launching its first share award scheme to rally its more than 60,000 employees around CEO Bernard Looney’s plan to shift to renewable energy following a bruising year of mass layoffs, bonus suspensions and spending cuts. The distribution of the shares, which will be locked for four years, will take place throughout […]

The U.S. Securities and Exchange Commission (SEC) on Tuesday sued Morningstar Credit Ratings LLC for allegedly violating U.S. securities laws in its ratings of commercial mortgage-backed securities, the regulator said in a statement. Morningstar’s credit ratings business allegedly violated disclosure and internal controls requirements in 30 commercial mortgage-backed securities transactions from 2015 to 2016 when […]

ByteDance is not in preliminary discussions about listing video app TikTok on the New York Stock Exchange (NYSE), a person familiar with the matter said, following a Chinese media report that talks were underway. The Global Times, published by China’s ruling Communist Party’s official People’s Daily newspaper, said earlier on its Twitter account that ByteDance […]

Nestle said on Wednesday it would sell Pure Life and some other struggling North American water brands to two private equity firms for $4.3 billion, as the food giant doubles down on its premium offerings including Perrier. The sale, to One Rock Capital Partners and Metropoulos & Co, includes brands such as Poland Spring, Deer […]