business in us
Carlos Ghosn Flees Trial in Japan for Lebanon
Carlos Ghosn, the former chief of Nissan Motor Co. and Renault SA, unexpectedly left Japan, where he is facing trial for alleged financial wrongdoing, and arrived in his homeland of Lebanon by Monday, according to people familiar with the matter. Mr. Ghosn’s flight adds a dramatic new chapter to a real-life potboiler that has taken …
Boeing to Suspend 737 MAX Production in January
Boeing Co. BA -4.29% will suspend production of its 737 MAX jetliner, according to people briefed on the matter, escalating the crisis confronting the aerospace giant and raising the prospect of job cuts and furloughs across the global aerospace industry. The company is expected to halt production in January, according to one of the people. …
U.S. Government Is Tripping Over Itself in Race to Dominate 5G Technology
President Trump stood in front of hardhat-wearing cell-tower climbers this spring in the White House and declared deploying a superfast 5G wireless network a national priority. “My administration is focused on freeing up as much wireless spectrum as needed,” Mr. Trump said, referring to the key public resource—airwaves—that makes 5G networks and all the technological …
SoftBank to Take Control of WeWork
SoftBank Group Corp. won approval from WeWork’s board to take control of the troubled co-working startup, in a deal that would hand co-founder Adam Neumann nearly $1.7 billion and sever most of his ties with the company. WeWork, in danger of running out of cash in the coming weeks, chose a rescue offer from SoftBank …
WeWork CEO Adam Neumann Expected to Step Down
WeWork co-founder and Chief Executive Adam Neumann is expected to step down after the company’s much-anticipated initial public offering was derailed, capping a remarkably swift fall from grace for the leader of one of the country’s most valuable startups. Mr. Neumann and the company’s advisers have agreed that the best path forward for the office-sharing …
Forever 21 Plans to File for Bankruptcy as Many Retailers Struggle
Teen retailer Forever 21 Inc. plans to file for bankruptcy as soon as Sunday, according to people familiar with the matter, as slow sales, online rivals and changing consumer habits take a rising toll on many bricks-and-mortar chains. Retailers closed more stores from January to June—more than 7,000—than they did in all of 2018, according …
Trump’s China Tariff Threat Roils Markets Around the World
• U.S. Treasury yields down U.S. stock futures slipped and global indexes moved sharply lower Friday after President Trump threatened to extend tariffs to essentially all Chinese imports. The Stoxx Europe 600 fell about 2%, its biggest drop since December 2018. “The problem with Europe is that it is more exposed to Chinese growth than …
Tarantino Movie Aims to Tap a Bygone Era—and Formula for Success
LOS ANGELES—Quentin Tarantino’s new movie “Once Upon a Time… in Hollywood” will have to do a lot more than summon the sizzle of 1960s Los Angeles if it is going to buck recent moviegoing trends. It will have to defy a harsh box-office reality. With the summer movie season once again dominated by comic-book franchises, …
AbbVie Strikes Deal to Buy Allergan for About $63 Billion
Botox maker Allergan has a market capitalization of $42.47 billion, based on Monday’s close, according to FactSet. Photo: Richard Drew/Associated Press Updated June 25, 2019 7:04 am ET AbbVie Inc. ABBV -0.42% has reached a deal to buy Allergan AGN -0.95% PLC for about $63 billion, as two big drugmakers bet a combination will deliver …
Accenture Retrains Its Workers as Technology Upends Their Jobs
Five months after Dorian Twiggs packed up her life in Detroit and moved to Charlotte, N.C., to work as a mortgage underwriter for Accenture ACN -0.51% PLC, a manager pulled her and some colleagues into an office and told them their jobs were disappearing. Instead of getting laid off, they would be retrained for software …
