Theranos Ex-President Sunny Balwani to Be Sentenced Today

Theranos Ex-President Sunny Balwani to Be Sentenced Today

SAN JOSE, Calif.—When Theranos Inc.’s former No. 2 executive is sentenced on Wednesday, he may get a longer prison term than his boss, who was at the center of the fraud at the company she founded.  Mr. Balwani’s former business partner and ex-girlfriend, Theranos founder Elizabeth Holmes, was sentenced last month to 11¼ years for … Read more

Elon Musk’s Twitter Takeover Is in Its Early Chapters, But a Book Is Already Coming

Elon Musk’s Twitter Takeover Is in Its Early Chapters, But a Book Is Already Coming

“Breaking Twitter” is expected to be published next fall by Grand Central Publishing, a unit of Lagardère MMB 0.86% SCA’s Hachette Book Group. The deal is the latest example of how quickly books about current events—from the 2021 saga with GameStop to the 2018 Thai boys cave rescue—are pitched and sold in recent years. That … Read more

Restaurant Groups Push to Overturn California Fast-Food Wage Law

Restaurant Groups Push to Overturn California Fast-Food Wage Law

Restaurant and trade groups said they have submitted enough voter signatures for a ballot measure to try to halt the implementation of a new California law that would set minimum hourly wages for fast-food workers in the state starting next year. A coalition of restaurant owners and business groups called Save Local Restaurants said Monday … Read more

Hertz to Pay $168 Million to Settle False-Arrest Allegations

Hertz to Pay 8 Million to Settle False-Arrest Allegations

Hertz Global Holdings Inc. said it would pay about $168 million to settle 364 pending claims related to vehicle-theft reporting, some instances of which have allegedly led customers to face wrongful arrest for car theft. The hundreds of settlements resolve more than 95% of outstanding claims, Hertz said. The company said it doesn’t expect the … Read more

OPEC+ Keeps Oil Curbs Despite Russia Price Cap

OPEC+ Keeps Oil Curbs Despite Russia Price Cap

OPEC+ said Sunday it would keep output steady ahead of a momentous week in global energy markets, as wealthy nations impose a price cap on Moscow’s petroleum exports, the European Union launches a ban on Russian oil and Chinese leader Xi Jinping visits Saudi Arabia. The decision on Sunday allows the Organization of the Petroleum … Read more

Delta Air Lines Offers Pilots 34% Raises Over Four-Year Deal

Delta Air Lines Offers Pilots 34% Raises Over Four-Year Deal

Delta Air Lines Inc. DAL 0.93% is offering pilots raises amounting to at least 34% over the term of a proposed deal, another sign of how pilots are pushing the now-booming airline industry for better pay and other benefits. The proposal still needs to be approved by union leaders and then would have to be … Read more

Blackstone Limits Redemptions From Real Estate Vehicle, Stock Sinks

Blackstone Limits Redemptions From Real Estate Vehicle, Stock Sinks

Blackstone Inc. BX -7.09% shares took a big hit after the investing giant’s real-estate fund aimed at wealthy individuals said it would limit redemptions. Blackstone Real Estate Income Trust Inc., more commonly known as BREIT, said Thursday in a letter posted to its website that the amount of withdrawals requested in October exceeded its monthly … Read more

Blackstone Stake Sale Values MGM Grand, Mandalay Bay at $5.5 Billion

Blackstone Stake Sale Values MGM Grand, Mandalay Bay at .5 Billion

Blackstone Inc. has agreed to sell its 49.9% stake in two Las Vegas hotels in a deal that values the properties at $5.5 billion, marking one of the largest U.S. casino transactions this year. The New York investment firm is selling its stake in the MGM Grand Las Vegas and the Mandalay Bay to Vici … Read more

General Electric Sets Healthcare Division Spinoff Plans

General Electric Sets Healthcare Division Spinoff Plans

The planned spinoff of GE HealthCare Technologies is part of General Electric’s overall plan to split into three separate public companies. Photo: Charles Krupa/Associated Press Updated Nov. 30, 2022 9:03 pm ET General Electric Co. set the terms for the spinoff of its healthcare division, putting an initial value of roughly $31 billion on the … Read more

Elon Musk’s Boring Company Ghosts Cities Across America

Elon Musk’s Boring Company Ghosts Cities Across America

ONTARIO, Calif.—The unsolicited proposal from Elon Musk’s tunnel-building venture arrived in January 2020. To the local transportation authority, it felt like finding Willy Wonka’s golden ticket. Officials had started planning for a street-level rail connection between booming Ontario International Airport and a commuter train station 4 miles away, with an estimated cost north of $1 … Read more