Author: Dow Jones
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Billboard parent buys Nielsen Music
The owner of music-industry trade magazine Billboard is acquiring Nielsen Music, the companies said, uniting the leading music-consumption tracking entity with the purveyor of the charts it powers under one roof. The transaction comes as data is taking on an increasingly outsize role in the music industry. Nielsen Music is the music industry data, analytics…
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Survey: U.S. expansion expected to continue through 2020
The U.S. expansion, now in its 11th year, will continue through the 2020 presidential election with a healthy labor market backing it up, economists say. The panel of 57 economists who participated in The Wall Street Journal’s December economic survey offered a relatively optimistic outlook for 2020 growth, albeit at a slower pace than in…
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Purdue paid out $10.4 billion to Sacklers as opioid crisis grew, report finds
OxyContin manufacturer Purdue Pharma generated more than $10 billion since 2008 for the Sackler family members who own the company, according to a report that will influence the debate among state and local governments over how much of that money should be returned. The report, written by Purdue adviser AlixPartners and filed in Bankruptcy Court…
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Space-tech startup files for bankruptcy
Space-technology company Vector Launch Inc. has filed for bankruptcy, blaming its demise on venture-capital backer Sequoia Capital’s decision not to provide additional funding for its development efforts. Vector, along with its subsidiary Garvey Spacecraft Corp., filed for Chapter 11 protection in U.S. Bankruptcy Court in Wilmington, Del., with a deal to sell its GalacticSky satellite…
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Intel acquires Habana Labs for about $2 billion
Intel Corp. is expanding its push into the hot artificial intelligence market with an approximately $2 billion deal for Habana Labs, an Israel-based AI chip-making startup. Intel said the deal strengthens its lineup of artificial intelligence chips for use in data centers. Those are the large information storage facilities where companies are running AI algorithms…
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Boeing Weighs Suspending or Cutting Back 737 MAX Production
Boeing Co. is considering either suspending or cutting back production of the 737 MAX amid growing uncertainty over the troubled plane’s return to service and could disclose a decision as soon as Monday, according to people familiar with the matter. Boeing management increasingly sees pausing production as the most viable among difficult options as the…
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Southwest reaches compensation deal with Boeing over 737 Max
Southwest Airlines and Boeing said they struck a deal to compensate the airline for some of the damage from the nine-month grounding of the 737 Max. The carrier said Thursday that it would share $125 million of the proceeds with its employees. Southwest didn’t disclose the full terms of its agreement with Boeing, which it…
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Nestlé to sell U.S. ice cream business to joint venture
Nestle has agreed to sell its U.S. ice cream arm to a joint venture it has with private-equity firm PAI Partners for $4 billion, a deal the Häagen-Dazs maker hopes will reinvigorate the struggling business. The sale, which also includes the Dreyer’s and Drumstick brands, follows a similar move in Europe and comes amid competition…
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Volkswagen parent acquires stake in self-driving startup
Porsche Automobil Holding has acquired a minority stake in Silicon Valley self-driving sensor startup Aeva, the latest in a flurry of moves by the auto manufacturing holding company in the autonomous driving sector this year. As part of the equity deal, Porsche, which houses auto makers such as Volkswagen, Porsche and Audi, will partner with…
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Trucking market will absorb Celadon shutdown, transport experts say
Trucking markets should easily absorb the sector’s biggest bankruptcy in years, freight industry experts say, as truckload carrier Celadon Group Inc. winds down operations and customers seek to recover their shipments. The Indianapolis-based trucking company sought Chapter 11 bankruptcy protection Monday and asked its drivers to deliver loads still in transit and hand over the…