The global consulting firm McKinsey & Company agreed to pay nearly $600 million for its role in advising businesses on how to sell more prescription opioid painkillers amid a nationwide overdose crisis. “We deeply regret that we did not adequately acknowledge the tragic consequences of the ...
LOS ANGELES — GameStop and a handful of other stocks whose meteoric rise last month shocked Wall Street began falling back to Earth this week. But the campaign that briefly pushed GameStop up by 1,600 percent at the expense of hedge funds that were betting it would lose value, known as ...
WASHINGTON — President Joe Biden encouraged Democratic lawmakers Wednesday to “act fast” on his $1.9 trillion COVID rescue plan but also signaled he’s open to changes, including limiting the proposed $1,400 direct payments to Americans with lower income levels, which could draw ...
NEW YORK — Behind GameStop’s stock surge is the grim reality of its prospects: The video game retailer is floundering even as the industry around it is booming. GameStop has been swept up in a battle between big-moneyed hedge funds betting against it and small investors trying to prop it ...
NEW YORK — Jeff Bezos, who founded Amazon as an online bookstore and built it into a shopping and entertainment behemoth, will step down later this year as CEO, a role he’s had for nearly 30 years, to become executive chairman, the company announced Tuesday. Bezos, 57, will be replaced ...
NEW YORK — Now, even the pros on Wall Street are asking if the stock market has shot too high. U.S. stocks have been on a nearly nonstop rip higher since March, up roughly 70 percent to record heights and causing outsiders to say the market had lost touch with the pandemic’s reality. But ...
