Walgreens unit close to about $9 billion deals in summit health

Walgreens unit close to about $9 billion deals in summit health

A unit of Walgreens Boots Alliance Inc. WBA 3.72% is nearing a deal to combine with a major owner of medical practices and urgent care centers in a transaction valued at about $9 billion including debt, according to people familiar with the matter, the latest in a series of acquisitions by large consumer-focused companies that … Read more

Tiger Global halts new Chinese equity investments

Tiger Global halts new Chinese equity investments

Longtime Chinese investor Tiger Global Management has paused investing in Chinese stocks, people familiar with the matter said, as the firm reevaluates its exposure to the world’s second-largest economy after President Xi Jinping cemented his control over the country. Tiger leaders, including founder Charles “Chase” Coleman, have told others that Mr Xi’s re-election and his … Read more

Stripe to cut 14% of jobs

Stripe to cut 14% of jobs

Stripe Inc., one of the world’s most valued startups, said Thursday it is laying off about 14% of its employees, citing the tough economic climate. Stripe, a payment processor for fast-growing Internet businesses like Shopify Inc. STORE 1.37% and Instacart, was a major beneficiary of the pandemic-driven surge in e-commerce in 2020 and 2021. Businesses … Read more

Stocks open lower, dollar gains after Fed signals higher rates

Stocks open lower, dollar gains after Fed signals higher rates

Stocks fell, bond yields rose and the dollar rose, pointing to another volatile trading day after the Federal Reserve’s message that it will keep raising interest rates sent major indexes lower. The S&P 500 fell 1%, the Dow Jones Industrial Average fell 0.8% and the tech-heavy Nasdaq Composite fell 1.2% on Thursday. On Wednesday, the … Read more

Stocks fall, dollar rises after Fed signals higher rates

Stocks fall, dollar rises after Fed signals higher rates

Stocks fell, bond yields rose and the dollar rose, pointing to another volatile trading day after the Federal Reserve’s message that it will keep raising interest rates sent major indexes lower. The S&P 500 fell 0.9%, the Dow Jones Industrial Average fell 0.7% and the tech-heavy Nasdaq Composite fell 1.1% on Thursday. On Wednesday, the … Read more

Carl Icahn owns more than 8% of Beverage-Can Maker Crown Holdings

Carl Icahn owns more than 8% of Beverage-Can Maker Crown Holdings

Carl Icahn has a significant stake in Crown Holdings Inc. CCK -3.19% and believes the beverage can maker should shed non-core units and buy back more stock, according to people familiar with the matter. The billionaire activist investor has a stake of about $700 million, making him the company’s second-largest owner, the people said. Newsletter … Read more

Carl Icahn owns more than 8% of Beverage-Can Maker Crown Holdings

Carl Icahn owns more than 8% of Beverage-Can Maker Crown Holdings

Carl Icahn has a significant stake in Crown Holdings Inc. CCK -3.19% and believes the beverage can maker should shed non-core units and buy back more stock, according to people familiar with the matter. The billionaire activist investor has a stake of about $700 million, making him the company’s second-largest owner, the people said. Crown … Read more

After record year, college scholarship returns fall into negative territory

After record year, college scholarship returns fall into negative territory

Investment returns for university endowments have fallen back to earth after posting their biggest gains in a generation the year before, reflecting a dramatically changed investment environment in which stocks, bonds and other assets have sold off sharply. The grant to Washington University in St. Louis lost 10.6% in the fiscal year ended June 30, … Read more

Blackstone, Emerson Electric Strike $14 Billion Buyout Deal

Blackstone, Emerson Electric Strike $14 Billion Buyout Deal

Emerson Electric Co. EMR 1.76% is selling a majority stake in its climate-technologies business to Blackstone Inc. BX 0.68% in a transformational deal for the industrial company that would value the unit at $14 billion including debt and mark the biggest private-equity buyout in months at a time when such activity has been choked off … Read more

Credit-Card Debt Returns to Levels Before Covid-19 Pandemic

Credit-Card Debt Returns to Levels Before Covid-19 Pandemic

Credit card debt recently reached a new milestone: It returned to where it was before the pandemic. Total card balances in the US hit $916 billion in September, nearly identical to December 2019 levels, according to the credit-reporting firm Equifax Inc. EFX 0.97% Balances are up 9% from January and about 23% higher than their … Read more