Netflix reported second-quarter earnings that were slightly above expectations for profit but narrowly missed revenue estimates. The company posted $12.56 billion in revenue, a 13% increase from the previous year, driven by subscriber growth, higher prices, and rising advertising revenue. Net income increased to $3.40 billion compared with $3.13 billion a year earlier. Despite the solid results, Netflix shares fell more than 7% as investors … Continue reading Netflix stock falls as earnings forecast disappoints

Samsung Biologics announced a $1.8 billion all-cash offer to acquire Switzerland’s PolyPeptide Group, a company specializing in peptide-based pharmaceutical ingredients. The deal would be the largest biopharmaceutical acquisition in South Korea’s history and is expected to close by the end of the year. The acquisition aims to expand Samsung Biologics’ portfolio beyond antibody drugs into fast-growing peptide therapies, including treatments for obesity and diabetes. PolyPeptide … Continue reading Samsung Biologics makes $1.8 billion all-cash offer for Switzerland’s PolyPeptide Group

A lettuce sample linked to a multi-state Cyclospora outbreak was found to have produced a false positive result, according to the U.S. Food and Drug Administration. Despite the error, Taylor Farms’ voluntary recall of iceberg lettuce from Mexico remains in place while officials continue investigating the outbreak. The recalled lettuce had been distributed to retailers and used by Taco Bell locations in several states, prompting … Continue reading FDA says Taylor Farms lettuce sample tested for cyclospora produced false positive for the parasite

The federal government is urging state attorneys general to investigate and prosecute any illegal practices that may be keeping gasoline prices higher than expected. Officials from the Department of Justice and the Federal Trade Commission argue that falling crude oil prices are not being fully reflected at the pump. The push follows President Trump’s public claims that oil companies and retailers are “gouging” consumers despite … Continue reading Feds press states to target any illegal activity contributing to high gas prices

EasyJet has agreed in principle to be acquired by U.S. private equity firm Castlelake in a deal valuing the airline at about £5 billion ($6.7 billion). The offer of £6.90 per share still requires a formal bid by August 3 or it could be withdrawn. EasyJet’s board said it is “minded to recommend” the deal to shareholders after previously rejecting multiple earlier offers. Castlelake said … Continue reading EasyJet agrees to $6.7 billion takeover bid from U.S. private equity firm Castlelake

Ford Motor has long promoted itself as a leader in American manufacturing, but it has also struggled with a high number of vehicle recalls and quality problems. The company issued millions of recalls in recent years, including more than 53 recalls affecting over 12 million vehicles so far this year, which has hurt earnings and customer trust. CEO Jim Farley says Ford is beginning a … Continue reading Ford achieves quality milestone, as CEO targets flawless new vehicle launches