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Author Archives: Bloomberg

Virgin Atlantic files for Chapter 15 bankruptcy in US

Sir Richard Branson, left, and Chicago Mayor Richard Daley stand next to a model of a Virgin Atlantic Airways 747 during a news conference Monday, Dec. 4, 2006, in Chicago. Branson was in Chicago to announce his Virgin Atlantic Airways will begin daily service between London Heathrow and Chicago's O'Hare International Airport next year.  (AP Photo/Charles Rex Arbogast)

Richard Branson’s Virgin Atlantic Airways filed for Chapter 15 bankruptcy protection in the U.S. on Tuesday after telling a London court it was set to run out of cash next month without getting approval for a rescue financing. The airline ...

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Under Armour says Plank, CFO named in SEC accounting probe

Under Armour's facilities at Port Covington in Baltimore (File Photo)

Under Armour Inc. said two top executives, including founder Kevin Plank, have been named in a federal probe of the company’s accounting, sending shares of the Baltimore-based athletic wear maker down. Plank and Chief Financial Officer David Bergman received Wells ...

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US consumer sentiment posts surprise drop after surge in virus

FILE - In this June 8, 2020 file photo, a shopper departs a shoe store at CambridgeSide mall, in Cambridge, Mass.  U.S. consumer prices dropped in May for the third straight month as the coronavirus pandemic pushed the American economy into a recession. The Labor Department said Wednesday, June 10  that its consumer price index fell 0.1% last month after tumbling 0.8% in April and 0.4% in March.  (AP Photo/Steven Senne, File)

U.S. consumer sentiment turned decidedly more pessimistic in July, defying forecasts for further improvement after the resurgent coronavirus nearly wiped out emerging confidence around reopenings. The University of Michigan’s preliminary sentiment index decreased 4.9 points to 73.2, according to data ...

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Roundup cancer settlement hits snag

Roundup pesticide is displayed for sale at a Home Depot store in Louisville, Ky. in February 2019. MUST CREDIT: Bloomberg photo by Luke Sharrett

Bayer’s plan for moving on from its Roundup legal woes hit a snag barely two weeks after it announced a nearly $11 billion settlement of claims the popular weedkiller causes cancer when a judge expressed skepticism about its proposed treatment ...

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Does demise of Atlantic Coast project mean U.S. pipelines now unbuildable?

Pipes sit at the TransCanada Corp. Houston Lateral Project pipe yard in Mont Belvieu, Texas, U.S., on March 5, 2014. (Bloomberg/Scott Dalton)

To be an energy superpower, U.S. oil and gas requires a suitably gargantuan pipeline network that stretches for millions of miles. The country’s ability to expand that infrastructure is being tested like never before. In what’s possibly the biggest victory ...

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Fed’s next policy move looks tied to long-run view on inflation

Jerome Powell, chairman of the Federal Reserve, during a news conference in Washington on March 3, 2020. MUST CREDIT: Bloomberg photo by Andrew Harrer.

Jerome Powell isn’t “even thinking about thinking about” raising interest rates, but investors still wonder what it would take for the Federal Reserve chair to start taking his foot off the gas. U.S. central bankers dropped some strong hints on ...

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Supreme Court narrows power of SEC to recoup illegal gains

An American flag flies outside the headquarters building of the Securities and Exchange Commission in Washington on Dec. 22, 2018. MUST CREDIT: Bloomberg photo by Zach Gibson.

The U.S. Supreme Court limited the power of the Securities and Exchange Commission to recoup illegal profits from wrongdoers, putting new curbs on one of the agency’s most potent legal weapons. The 8-1 ruling Monday is a partial victory for ...

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US consumer sentiment jumps most since 2016 on gain in jobs

Shoppers wearing protective masks browse clothing at a store in Long Beach, N.Y., on June 11 2020. MUST CREDIT: Bloomberg photo by Johnny Milano.

U.S. consumer sentiment climbed in early June by the most since 2016 as more states began to reopen their economies and employers restored jobs. The University of Michigan’s preliminary sentiment index increased 6.6 points to 78.9, according to data Friday. ...

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Harvard wins Apple, Twitter backing on use of race in admissions

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Intel Corp., Apple Inc. and Amgen Inc. are among more than a dozen companies supporting Harvard University in a fierce legal battle that could shape the use of race in college admissions for decades to come. The nation’s oldest university ...

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Bitcoin crashes as halving hype loses impetus

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Bitcoin appears to be running out of steam just before one of the most anticipated milestones among cryptocurrency enthusiasts. The largest digital token tumbled over the weekend, declining about 13% to around $8,675. It rebounded to about $8,840 as of ...

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