The pace of cord cutting picked up in the first quarter as the relevance of traditional video continued to fade. More than 2.3 million people in the U.S. abandoned their pay-TV subscriptions during the quarter, according to estimates from SVB MoffettNathanson analyst Craig Moffett. These losses marked a “significant acceleration”…
U.S. stocks ended lower Friday, surrendering early gains after a report from the University of Michigan showed consumer sentiment soured in May, helping to revive recession fears. The Dow Jones Industrial Average and S&P 500 each booked back-to-back weekly losses. For the week, the Dow slid 1.1%, the S&P 500…
Eli Lilly & Co.’s market cap neared Johnson & Johnson’s market cap on Friday, as the stock has benefited from a slew of positive data in trials for key treatments. Earlier Friday, Lilly stock LLY, +0.00% was on track to close with a greater market capitalization than J&J JNJ, -0.13%,…
Dan Snyder has agreed to sell the NFL’s Washington Commanders to a group led by Josh Harris and Mitchell Rales, the team announced on Friday. The deal values the team at $6 billion, according to reports from ESPN and NFL Network. “We are very pleased to have reached an agreement…
Elon Musk’s appointment of Linda Yaccarino to succeed him as Twitter’s chief executive has all the characteristics of a so-called glass cliff: She’s tasked with the nearly impossible job of turning around a company that faces a steep ad-revenue shortfall, with one of the most dominant Twitter users looking over her shoulder…
The numbers: Deposits at commercial U.S. banks declined in the week ended May 3, according to the Federal Reserve on Friday. Deposits fell to $17.15 trillion from $17.16 trillion in the prior week, the Fed said. There has been a steady erosion in deposits as interest rates have risen. A…
George Soros’s Soros Fund Management placed new bets on railroads and the gig economy during the first quarter, recalibrated its holdings in a struggling media industry and dumped electric-vehicle maker Tesla Inc. During the first quarter, the fund scooped up 363,483 shares of railroad operator CSX Corp. CSX, +0.09%, according…
My husband lost his business many years ago, and we had to sell our house to pay off his debt. I had a part-time job then because I needed to take care of our two young children. My husband stopped bringing in any income. A few times, he gave me…
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U.S. Food and Drug Administration advisers voted 8-6 Friday to recommend the agency grant accelerated approval to Sarepta Therapeutics Inc.’s gene therapy for Duchenne muscular dystrophy despite questions about its clinical benefit and safety. Should it be approved, the first-of-its-kind potential one-time experimental therapy, called SRP-9001, could radically change how…