Corporate news

In this Aug. 17, 2018 photo, Stamford Police stand outside the headquarters of Purdue Pharma, which is owned by the Sackler family, in Stamford, Conn. The Sackler family came under scrutiny when a legal filing in Massachusetts gave detailed allegations of how family members and other Purdue Pharma executives sought to push prescriptions for the drug OxyContin and downplay its addiction risks. (AP Photo/Jessica Hill)
January 18, 2019 - 12:56 pm
The legal pressure on the prominent family behind the company that makes OxyContin, the prescription painkiller that helped fuel the nation's opioid epidemic, is likely to get more intense. The Sackler family came under heavy scrutiny this week when a legal filing in a Massachusetts case asserted...
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The Mercedes Benz Vision van during the opening of the Brussels Auto Show in Brussels, Friday, Jan. 18, 2019. (AP Photo/Virginia Mayo)
January 18, 2019 - 11:37 am
BERLIN (AP) — German automaker Daimler's Mercedes-Benz Cars unit says it is developing plans to open an assembly plant in Egypt. Mercedes-Benz said in a statement Friday that the passenger car plant would be built by a local business partner and the project is being developed "in close...
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FILE - In this Jan. 9, 2019, file photo, Tesla CEO Elon Musk speaks during a meeting with Chinese Premier Li Keqiang at the Zhongnanhai leadership compound in Beijing. Electric car and solar panel maker Tesla said Friday, Jan. 18, 2019 it plans to cut its staff by about 7 percent. (AP Photo/Mark Schiefelbein, Pool, File)
January 18, 2019 - 8:46 am
Tesla will cut 7 percent of its workforce as it tries to lower prices and break out of the niche-car market to produce an electric vehicle that more people can afford. Tesla's cheapest model right now is the $44,000 Model 3, and it needs to broaden its customer base to survive. "Looking ahead at...
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FILE- In this Jan. 7, 2019, file photo a customer shops in a Sears store in the Brooklyn borough of New York. Sears confirmed Thursday, Jan. 17, that chairman and largest shareholder Eddie Lampert’s hedge fund has won tentative approval for a $5.2 billion plan to buy 425 stores and the rest of its assets. (AP Photo/Mark Lennihan, File)
January 17, 2019 - 5:55 pm
NEW YORK (AP) — A group of Sears creditors are challenging Chairman Eddie Lampert's hedge fund's winning $5.2 billion bid to buy the business in a bankruptcy auction and wants to air their grievances in court. Sears confirmed Thursday that Lampert's hedge fund won tentative approval for the plan to...
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FILE - In this Monday, July 18, 2016, file photo, American Express credit cards are photographed in North Andover, Mass. American Express Co. reports financial results Thursday, Jan. 17, 2019. (AP Photo/Elise Amendola, File)
January 17, 2019 - 4:38 pm
NEW YORK (AP) — American Express swung to a fourth-quarter profit, the credit card company said Thursday, helped by a lower tax rate and more spending on the company's namesake credit cards. The New York-based company earned $2.01 billion, or $2.32 a share, compared with a loss of $1.21 billion, or...
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FILE - In this Aug. 17, 2018 file photo, family and friends who have lost loved ones to OxyContin and opioid overdoses protest outside Purdue Pharma headquarters in Stamford, Conn. The Sackler family’s ties to OxyContin and the painkiller’s role in the deadly opioid crisis are bringing the Sacklers a new kind of attention and complicating their philanthropic legacy. (AP Photo/Jessica Hill, File)
January 17, 2019 - 2:58 pm
BOSTON (AP) — The Sackler name is emblazoned on the walls at some of the world's great museums and universities, including the Smithsonian, the Guggenheim and Harvard. But now the family's ties to OxyContin and the painkiller's role in the deadly opioid crisis are bringing the Sacklers a new and...
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January 17, 2019 - 1:58 pm
TOLEDO, Ohio (AP) — Workers who sued General Motors after nooses and racist graffiti were found at its largest U.S. transmission plant nearly two years ago are still facing racial harassment, their attorney said Thursday. Just this week, one of the workers found a monkey doll and a racist drawing...
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January 17, 2019 - 7:06 am
NEW YORK (AP) — Investment bank Morgan Stanley on Thursday reported fourth-quarter results that came up short of analysts' expectations, hurt by difficulties in trading that impacted other Wall Street firms. The New York-based firm said it earned $1.53 billion, or 80 cents a share, up from a profit...
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January 17, 2019 - 6:44 am
SAN FRANCISCO (AP) — Gymboree has filed for bankruptcy protection for a second time in as many years, but this time the children's clothing retailer will begin winding down operations for good. The San Francisco company said late Wednesday that it will close all of its Gymboree and Crazy 8 stores...
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TSA employee Gary Vetterli prepares a hot dog during lunch at Salt Lake City International Airport, Wednesday, Jan. 16, 2019, in Salt Lake City. The government shutdown has generated an outpouring of generosity to TSA agents and other federal employees who are working without pay. In Salt Lake City, airport officials treated workers from the TSA, FAA and Customs and Border Protection to a free barbecue lunch as a gesture to keep their spirits up during a difficult time. (AP Photo/Rick Bowmer)
January 16, 2019 - 8:05 pm
The partial government shutdown is a double-whammy for Cara and Philip Mangone, a married couple from Philadelphia. Both are agents with the Transportation Safety Administration, both working full time at the Philadelphia airport. Neither knows when they might again start drawing their paychecks...
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