Dividend-loving investors from AT&T are calling the wrong number

AT&T income-hungry shareholders should have seen it coming. In April last year, a month before announcing the spin-off of its media division to shareholders in the form of shares of a 71% stake in the newly formed Warner Bros. Discovery Director John Stankey assured investors that “our deliberate capital allocation plan allowed us to invest … Read more

EY Announces Breakup Plan for Audit and Consulting Firms

Ernst & Young leaders are expected to kick off a month-long plan on Thursday to split its consulting and auditing activities, according to people familiar with the matter. Carmine Di SibioEY’s global chairman and chief executive, will tell the company’s 13,000 partners today that a global plan for a split has been approved by the … Read more

Ernst & Young leaders expected to approve plan to split accounting firm

Ernst & Young leaders are expected to give the green light this week to the split of its auditing and consulting business, paving the way for the biggest upheaval in the accounting profession in more than 20 years, according to people familiar with the matter. . The accounting giant’s global executive committee, which oversees its … Read more

The closure of Russia’s Nord Stream pipeline is causing an economic blow to Europe

Energy prices rose, European currencies hit multi-decade lows and governments tried to contain the economic blow after Russia cut its main natural gas pipeline to Europe. The lockdown, which the Kremlin blamed on Western sanctions on Monday and said it would be long-term, realizes the worst-case scenario Europe has been aiming for since Russia invaded … Read more

Bed Bath & Beyond Finance Chief Gustavo Arnal Found Dead

Through Ginger Adams Otis and Ryan Felton Updated September 4, 2022 8:58 PM ET Listen to article (2 minutes) Bed Bath & More Financial director Gustavo Arnal died by suicide Friday after jumping from a New York building. Mr Arnal, aged 52, died two days after informing investors of the retailer’s plans to secure new … Read more

Europe’s Energy Crunch squeezes the world’s largest particle accelerator

PARIS – Europe’s energy crisis threatens to delay experiments with the fundamental forces of nature. The European Organization for Nuclear Research, or CERN, is drawing up plans to shut down some of its particle accelerators during periods of peak demand, said Serge Claudet, chair of the center’s energy management panel. CERN is also considering how … Read more

Investors raise bets against the stock market as the summer rally fizzles

Investors are raising their bets on a market downturn, a sign of declining sentiment that analysts say could predict a return to volatile trading in the first half of 2022. Net short positions against S&P 500 futures have grown in recent months, reaching levels not seen in two years. That means traders raise their bets … Read more

Peloton quarterly loss reaches $1.2 billion

Peloton Interactive Inc. racing to save itself will reject some of the most fundamental aspects of its decade-old business model. The once-popular connected fitness equipment maker posted a loss of more than $1.2 billion in its most recent quarter as sales plummeted and the company warned it would spend more money than it brings in … Read more

Regal Cinemas Owner Cineworld Prepares for Bankruptcy

Cineworld Group Plc, the owner of Regal Cinemas, is preparing to file for bankruptcy in weeks after struggling to rebuild attendance from a pandemic, according to people familiar with the matter. The British cinema company has engaged lawyers from Kirkland & Ellis LLP and advisers from AlixPartners to advise on the bankruptcy process, the people … Read more

JP Morgan’s Metaverse Landlord Says Virtual Offices Are Pointless: ‘The Truth Is No One Cares’

Corporate giants JP Morgan, CBRE and Accenture have all established corporate posts in the metaverse — but one of the industry’s biggest developers considers virtual offices a waste of time. Janine Yorio, chief executive of metaverse developer and investment fund Everyrealm, told Financial News that most metaverse workspaces are part of “marketing gimmicks” and don’t … Read more