IBM Split Doesn’t Guarantee a Speedy Recovery, History Suggests

International Business Machines Corp. IBM -2.81% Chief Executive Arvind Krishna is betting on the well-practiced gambit of a corporate divorce to revive the former corporate icon. But tech history shows the outcome can be disappointing. The plan to spin off the unit that manages clients’ information-technology infrastructure and had around $19 billion in annual sales … Read more

Trump Signs Off on TikTok Deal With Oracle, Walmart

WASHINGTON—President Trump said he has agreed in concept to a deal under which Chinese-owned video-sharing app TikTok will partner with Oracle Corp. and Walmart Inc. to become a U.S.-based company, capping negotiations that have stirred debate over national security and the future of the internet. “I have given the deal my blessing, if they get … Read more

Women’s Apparel Retailer J.Jill Avoids Bankruptcy

Women’s clothing retailer J.Jill Inc. has managed to stave off filing for bankruptcy protection after a majority of its lenders and shareholders agreed to support an out-of-court financial restructuring deal. The Quincy, Mass., company said late Friday it obtained necessary support to push back its debt maturities by two years, until May 2024. Lenders have … Read more

Retired Hertz Executives Blast Bankrupt Company for New Bonuses

A group of retired Hertz Global Holdings Inc. executives is criticizing the car-rental company’s plan to pay millions in additional bonuses to top managers who laid off thousands of employees and oversaw the business as it filed for bankruptcy. At least seven retired Hertz executives are objecting to the new round of bonuses, totaling $14.6 … Read more

Facing a Profitability Crisis, Europe’s Banks Rush to Restructure

At beleaguered European banks, coronavirus is fast-tracking plans for fundamental restructuring after years of poor performance. Many of the region’s most prominent lenders are tearing up old business models, cutting business lines or doubling down on domestic markets as they try to find a formula that works for them. HSBC Holdings PLC is… Source link