Ally Financial Inc. (NYSE:ALLY) has reached a mutual agreement with Cardholder Management Services (CardWorks) to terminate their proposed $2.65 billion merger deal that was announced on February 18, 2020. Ally and CardWorks reach an agreement to call off merger deal The companies’ board of directors reached a verdict calling for...
Royal Caribbean Cruises Ltd (NYS:RCL) and Cruises Investment Holdings have announced plans to restructure their joint venture, Pullmantur Cruceros, as per the Spanish laws of insolvency considering it cancels sailings from November 15 because of COVID-19. COVID-19 pandemic affected Pallmantur operations Cruises Investment Holdings holds 51% interest in the joint...
Occidental Petroleum Corp (NYSE:OXY) has indicated that it will incur a $9 billion impairment in its gas and oil properties this quarter and restructure some of its debts to avoid a potential default. Anadarko acquisition impacted prospects of Occidental The oil company is seeking to shed almost $40 billion in...
Pacific Gas and Electricity Company (NYSE:PCG), South California Gas Co, and Opus 12 have announced that they have shown a new electrochemical technology advancement that can convert raw biogas CO2 content into renewable natural gas. New advancement can convert CO2 into renewable fuel The new single-step advancement has been designed...
Ford Motor Company (NYSE:F) has unveiled its all-new F-150 pickup truck, which is laced with net technology features. The new F-150 truck has massive towing and hauling power, with luxury options like reclinable seats and ultramodern tech features. New hybrid F-150 truck can go 700 miles on a full tank Interestingly,...
American Airlines Group Inc. (NASDAQ:AAL) is seeking to raise around $2 billion from the sales of shares and convertible bonds following an increase in the size of the offerings, according to sources familiar with the matter. American Airlines announces equity and convertible bond offering The carrier has alerted investors for a...
Uber Technologies Inc. (NYSE:UBER) CEO Dara Khosrowshahi indicated on Thursday that the ride-hailing company plans to deprioritize some of its financial projects like the digital wallet, credit cards, and instant payments. Uber financial services head resigns as the company shelves digital wallet plans The company has shelved plans for becoming...
Burger King has turned Tesla Autopilot confusion into an opportunity to boost its ad campaign after the system started erroneously detecting the fast-food company's signboards as stop signs. Tesla launched an Autopilot update in April this year with a new feature called "Traffic Light and Stop Sign Control," which helps...
Abbot Laboratories (NYSE:ABT) has released data from several new real-world studies showing how the FreeStyle Libre system is used. This continuous glucose monitoring tech can result in considerable clinical benefits for type 1 and 2 diabetes patients. Abbott’s FreeStyle Libre system reduces diabetic-related hospitalization  The findings presented at the 2020...
Walmart Inc (NYSE:WMT) is fighting a legal suit in which it is accused of mishandling opioid painkillers sold through its in-store pharmacies for years. According to a lawsuit filed by two pension funds seeking access to the company's internal records. According to media reports and information from court documents,...