The U.S. Senate yesterday sent packing a bill that would have prevented states such as Vermont from enacting legislation that requires food labels that indicate if ingredients contain genetically modified organisms (GMOs).
Sony yesterday set the price of its PlayStation VR headset at $399 and said it will be available in October - not "the first half of 2016" as it had originally planned - to ensure it has enough units to satisfy demand and enough software to satisfy gamers' appetites.
China's Anbang Insurance Group, which already owns the Waldorf- Astoria in Manhattan, is leading a consortium of investors who have made an unsolicited $12.8 billion cash bid for Starwood Hotels & Resorts, bettering the surprise $12.2 billion cash-and-stock offer Marriott International put forth in November for the parent of 11 high-end brands, including Westin, Sheraton and St. Regis.
Valeant Pharmaceuticals, whose shares have lost 73% of their value since August, according to Reuters, will finally be releasing its preliminary fourth-quarter earnings on Tuesday, several weeks late and dollars short of what it originally tallied for 2014 and 2015 because of “accounting errors.” The last few months have been a public relations nightmare for the company, whose CEO, Michael Pearson, returned to work after a severe bout of pneumonia on Feb. 29 with some directors casting about for his replacement and the federal government investigating
its pricing practices. In fact, as Katie Thomas points out
in the New …
The Wounded Warrior Project, which hired a law firm and accounting practice to investigate charges and a crisis management firm to mitigate the damage after allegations of wanton spending and extravagant staff-bonding meetings surfaced in separate reports by CBS and the "New York Times" in January, announced Thursday that CEO Steven Nardizzi and COO Al Giordano have departed.
In what is said to be a "mutual agreement," Volkswagen Group of America CEO Michael Horn is leaving the company "effective immediately," a development that seems to have taken many analysts - as well as the automakers' U.S. dealer council - by surprise.
Against a backdrop of all prescription drug prices rising 12.6% in 2014 and growth believed to have "remained elevated" last year - the Obama administration announced yesterday that it would test six new ways to pay for drugs for those covered by Medicare Part B - an estimated 55 million people in total at present.
Nike has suspended the eight-year, $70-million contract it renewed in 2010 with tennis star Maria Sharapova after she announced yesterday that she had failed a doping test taken during the Australia Open in January, where she advanced to the quarterfinals. Porsche this morning said that is will "postpone planned activities" with the 28-year-old, Russian-born athlete. And Swiss watchmaker Tag Heuer said it would not renew a deal with Sharapova that expired at the end of 2015.
Oscar Munoz, who suffered a heart attack six weeks after he was named president and CEO of United Airlines in September and then had a heart transplant operation in January, will return to work full time next Monday morning. He'll start off by meeting with disgruntled labor leaders that day but there are myriad other issues facing the airline that is still facing integration issues after a 2010 merger with Continental.
The physics of reverberation are very much in play at Amazon, which announced yesterday that the success of its voice-activated personal assistant, the $180 Echo, has spawned two less-expensive offshoots - the Amazon Tap and the Echo Dot. They, too, feature Alexa, the default "wake word" wetware must use to interact with the devices.