Former US Secretary of Defense James Mattis testified Wednesday in the trial of fallen tech star Elizabeth Holmes, saying the entrepreneur misled him into believing she was on the verge of rolling out a blood-testing breakthrough that he hoped would help...
The semiconductor chip shortage that’s roiled the global car market is now expected to cost the industry $210 billion in revenue this year, consulting firm AlixPartners said Thursday. The revised forecast is nearly double the New York-based firm’s projections from May,...
Apple’s current slate of iPhones would be illegal to sell in the European Union under a new proposed rule requiring smartphones and electronics to come with standardized charging ports. The EU edict, proposed Thursday, would require all devices sold in the...
The number of Americans newly seeking jobless benefits unexpectedly rose again last week amid ongoing concerns over the surge in COVID-19 cases driven by the Delta variant, the feds said Thursday. Initial filings for unemployment benefits, seen as a proxy for layoffs, rose to...
Elizabeth Holmes, the disgraced founder of defunct blood-testing company Theranos, once called herself the “best business person of the year” in text messages to Ramesh “Sunny” Balwani, Holmes’ ex-boyfriend and former Theranos COO. “My new life as of this night and...
Shares of embattled Chinese property developer Evergrande Group soared more than 17 percent on Thursday after the company said it struck an agreement with Chinese bondholders to meet some of its debt obligations. The stock, which is still down more than...
Questionable tuna isn’t the only thing the Subway sandwich chain is standing behind. The embattled fast-food giant continues to back a top regional manager who recently settled a lawsuit that alleged he underpaid nearly 3,000 workers by $38 million, miffed franchisees...
The Federal Reserve signaled Wednesday that it may start raising its benchmark interest rate sometime next year, earlier than it envisioned three months ago and a sign that it’s concerned that high inflation pressures may persist. In a statement, the Fed also...
Epic Games Chief Executive Officer Tim Sweeney said on Wednesday Apple informed the “Fortnite” owner that the video game will be blacklisted from the iPhone maker’s popular App Store for several years until all the court appeals are done. Epic Games’ opening brief...
The collapse of embattled Chinese property developer Evergrande Group could prove to be “far worse” for investors in China than a “Lehman-type situation,” according to Jim Chanos, the veteran short seller who predicted Enron’s collapse two decades ago. The collapse of...
