Former hedge fund manager Philip Falcone has been sued for more than US$65.8 million after he allegedly defaulted on a series of loans and improperly sold some of the underlying collateral, including an Andy Warhol painting.
Outdoor apparel retailer Timberland is testing online shoppers' willingness to help the environment by slowing down delivery as Amazon.com drives retailers toward pricier, more polluting one-day shipping.
Lyft Inc has bought U.S.-based startup Halo Cars, which allows drivers to make money through digital advertisements displayed on top of their vehicles.
U.S. manufacturing and services sectors activity stalled in February amid growing concerns about the deadly coronavirus' impact on the economy, boosting investor demand for safe-haven assets like government bonds.
Elon Musk's SpaceX is looking to raise about US$250 million (192.7 million pounds), taking the private rocket company's valuation to about US$36 billion, CNBC reported on Friday, citing people familiar with the financing.
U.S. authorities will soon announce a deal relating to Wells Fargo's multi-year sales practices scandal, according to two sources familiar with the agreement.
Developers of self-driving cars are amping up criticism of a California reporting requirement on test data, saying the data could mislead, as the state prepares to release the latest results for 2019.
Italy's biggest bank UniCredit may make an announcement as early as Friday night on the future of boss Jean Pierre Mustier, two sources familiar with the matter said, after reports he is vying for the top job at rival HSBC .
EU antitrust regulators are set to give unconditional clearance to world No. 1 oil producer Saudi Aramco's US$69 billion bid for a 70per cent stake in petrochemicals group Saudi Basic Industries Corp (SABIC) , people familiar with the matter said on Friday.
The U.S. central bank will need to act aggressively to counter future downturns, deploying old tools more quickly and adopting new ones, Federal Reserve Governor Lael Brainard said on Friday.
