ADT stock soars 65% after $450 million investment from Google

Shares of home security business ADT rose sharply on Monday after the company announced a $450 million investment from Google. ADT stock rallied some 65% after the opening bell in New York, after jumping in premarket trading. Google shares had inched higher in premarket but were modestly lower after regular trading began. Google’s investment bought…MORE

China’s factory output grows at strongest pace in nearly decade. But weak spots remain

Activity at China’s factories just grew at the fastest pace in nearly a decade, signaling that the country’s economic recovery is continuing to pick up momentum. But analysts warn that the coronavirus pandemic’s grip on much of the world could still hold back the second largest economy. A private survey of manufacturing activity rose to…MORE

HSBC posts sharp fall in profits and warns of ‘challenging’ US-China tensions

HSBC said on Monday that escalating tensions between China and the West are creating “challenging situations” for its business after the global bank reported a 65% plunge in profits in the first half of 2020 due to the coronavirus pandemic. The London-based lender, which makes most of its money in Asia, said Monday that pre-tax…MORE

7-Eleven owner buys Speedway gas stations for $21 billion

The Japanese owner of 7-Eleven is buying the Speedway chain of gas stations from Marathon Petroleum for $21 billion. The two firms announced the cash deal in a statement late Sunday. It’s one of the biggest acquisitions in the world to be announced since the coronavirus pandemic hit earlier this year. Japanese retail giant Seven…MORE

Lord & Taylor files for bankruptcy protection

Becoming the latest of many retailers to declare bankruptcy during the coronavirus pandemic, department store Lord & Taylor has filed for Chapter 11. The company filed for Chapter 11 bankruptcy protection Sunday, according to court documents. The bankruptcy comes almost a year after fashion rental subscription service Le Tote, Inc. bought the company for $75…MORE

These companies are working from home until 2021 — or forever

As coronavirus continues to spread across the United States, companies are coming to terms with a future of work that doesn’t look anything like it did before — and many are revisiting their plans to go back to the office. Some employees won’t return to their offices until at least 2021, while others might not…MORE

Here’s how experts think the press should cover the run-up to the November election

The US Presidential Election is bound to look different this year. Because of the coronavirus pandemic, both Democratic and GOP party conventions have been dramatically scaled back, and it’s unlikely that there will be rooms packed with people celebrating election night results on November 3. Many states have moved to expand vote-by-mail and absentee voting,…MORE

Stimulus talks have stalled. But the pressure to act is rising

A resilient US job market in May and June fed investor hopes that a strong economic recovery could quickly power the country out of a crippling recession. But the jobs report for July, due this week, may serve as a reality check — raising pressure on Congress to push through another round of stimulus spending.…MORE

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