The Wall Street Journal is reporting that streaming service Quibi is considering shutting down. Quibi has struggled to gain a foothold in the streaming industry since its launch in April. Business Insider reports that Quibi has failed to attract viewers and none of its shows have become major hits. Last month WSJ reported that Quibi was exploring multiple options, including a possible sale. The company boasted Hewlett Packard Enterprises CEO Meg Whitman as its CEO.
Ramin Talaie/Corbis/Getty Images Goldman Sachs won the bid for General Motors' credit-card business for roughly $2.5 billion, The Wall Street Journal reported Thursday. The Wall Street giant beat out Barclays, acquiring more than one million GM cardholders and the $8.5 billion they spend annually, according to The Wall Street Journal. This is Goldman Sachs' second co-branded card, following the Apple Card, as it looks to expand its consumer-lending business.
On Tuesday, SoftBank stock took a hit. SoftBank lost 7.7% over two days following reports that the conglomerate had been making huge and risky bets on tech stocks. The losses have wiped roughly $10 billion off the market value of SoftBank. SoftBank shored up its investment in Amazon, Microsoft, and Netflix. The Wall Street Journal said that the options generated an exposure of about $50 billion. The size of the bets means that SoftBank (SFTBF) CEO Masayoshi Son is now being called a "whale.
Business Insider reports that on Wednesday Kodak stock soared. The jump comes after a special committee it hired found that it did not violate any laws related a $765 million loan from the US government. The report found that Kodak executives did not violate insider trading laws. Throughout the loan process Kodak general counsel told executives that the government loan application process was "at a highly uncertain stage.
The U.S. Securities and Exchange Commission is investigating the circumstances around Eastman Kodak announcement of a $765 million government loan to make drugs at its U.S. factories, the Wall Street..