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Longtime activist investor Carl Icahn sold his stake in Lyft prior to its initial public offering last week, according to sources familiar with the matter. Icahn’s stake in Lyft amounted to about 2.7 percent of the ride-hailing company, or about $550 million. It’s been nearly four years since the company announced Icahn’s $100 investment in
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The executive chair of the European banking giant Santander Group issued a rallying cry for a common services market in Europe. While the European Union has made progress toward completing an internal European market, the services sector has remained largely protected from international competition. Cross-border differences in standards and certifications have been criticized for restricting
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The Food and Drug Administration is investigating nearly three dozen cases of people suffering from seizures after vaping, the agency announced Wednesday. Between 2010 and 2019, the FDA said it received 35 reports of people, especially kids and young adults, experiencing seizures after using e-cigarettes. However, the FDA said it’s unclear whether e-cigarettes caused the
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Selling consumer financing products to India’s vast middle class presents “limitless” opportunities over the next 10 years, according to one of the country’s top business leaders. That’s partly because, for a country with a population of 1.3 billion people, India’s credit card penetration rate is comparatively low, Sanjiv Bajaj, managing director of Bajaj Finserv, told
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Airline stocks jumped Tuesday after Delta Air Lines said record performance and healthy demand drove the carrier to raise its earnings and revenue guidance for the first quarter. Delta’s shares jumped 4.6 percent while United and American rose 3.8 percent and 1.4 percent, respectively. Southwest Airlines, JetBlue, Spirit and Alaska Air Group were all trading
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Despite the hefty price tag, there’s a piece of good news about retirees’ health-care costs: They aren’t rising as quickly as they were even a few years ago. A healthy male-female couple retiring at age 65 in 2019 can expect to spend $285,000 on health-care expenses in retirement, according to Fidelity Investments’ annual analysis, released
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The Alliance of American Football will suspend all football operations today, according to NBC Sports affiliate ProFootballTalk. tweet The league billed itself as one with greater focus on player safety and a more convenient fan experience, aided by a mobile app to host live streamed games. But questions as to its financial stability cropped up
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The activists known as the Patriotic Millionaires, who describe themselves as “proud traitors to their class,” want to meet with every member of Congress as part of a new lobbying campaign aimed at convincing lawmakers to raise taxes on the rich. During these meetings, the millionaires intend to use the threat of withholding their endorsements
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Walgreens Boots Alliance reported quarterly earnings and revenue that missed analysts’ expectations and lowered its forecast for 2019 in what CEO Stefano Pessina called the “most difficult” quarter since acquiring European drugstore chain Alliance Boots in late 2014. The company now expects full-year earnings for 2019 to be roughly flat, compared with its previous forecast
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Economic and demographic shifts are making life insurance and annuities more attractive options for fixed income, financial advisors say. “In a typical 60/40 portfolio, because bond returns are at a 50-year low, I’m seeing people moving funds from bonds to either life insurance or income annuities as a substitute,” said Tom Hegna, an insurance industry
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The U.S. Department of Justice charged 50 people last month in a multi-million-dollar scheme that allowed rich parents to cheat the college admissions system. By faking standardized test scores and bribing athletics officials, those parents managed to get their kids into elite schools like Georgetown, Stanford, Yale, and USC. But what if you don’t want
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