A group of high powered investors want to raise billions to form a new international basketball league, according to people familiar with the matter. The new organization would offer players equity, those people said. The investors aim to raise $5 billion for the league, which could serve as a rival…
American Express will pay a total of about $230 million to resolve federal wire fraud investigations, and to settle civil allegations of deceptive marketing, the company said Thursday. The tally includes more than $138 million as part of a non-prosecution agreement with the U.S. Attorney’s Office in Brooklyn, New York, related…
The CEO of UnitedHealth Group said Thursday that shortcomings of America’s health care system must be addressed. On the company’s first earnings call since the fatal shooting of UnitedHealth executive Brian Thompson, CEO Andrew Witty said that while the U.S. provides world-leading care in many respects, there are systemic flaws…
The Federal Trade Commission said Friday that it is suing PepsiCo for illegal price discrimination, alleging the food and beverage giant gave an unnamed retailer more favorable prices than its competition. Walmart is the unnamed retailer, people familiar with the matter told CNBC. The FTC alleges Pepsi violated the Robinson-Patman Act, which bars sellers from…
An outage affecting Capital One customers dragged into its second day Friday, further preventing some customers from accessing deposits, payments and transfers. In an afternoon statement, the bank said it was still restoring systems that had been taken offline due to a technical issue with a third-party vendor. The vendor,…
The U.S. Food and Drug Administration formally authorized Zyn nicotine pouches for sale after conducting an ‘extensive scientific review’ about their safety. In a release Thursday, the agency said it had found that the popular pouches posed lower risk of cancer and other serious health conditions compared with cigarettes, as…
We are all vulnerable to the rapid spread of phone scams – including, it seems, world leaders. Thailand’s prime minister has revealed she got a call from an AI system, demanding money in the voice of another famous head of government. Paetongtarn Shinawatra did not reveal who the computer was…
A woman in Australia has been charged with poisoning a child and allegedly posting videos of the infant suffering online in order to garner viewers and donations, police said Thursday. The 34-year-old woman from the Sunshine Coast allegedly “administered several unauthorised prescription and pharmacy medicines to a one-year-old girl, who…
Pope Francis has fallen over and injured his right arm but did not suffer any broken bones, the Vatican says. In a statement, the Holy See press office said that due to a fall Thursday morning in the Casa Santa Marta, the pope’s residence, the 88-year-old pontiff “suffered a contusion…
Bollywood star Saif Ali Khan was out of danger, police said on Thursday, following stab injuries received in a scuffle with an intruder at his home in India’s financial capital of Mumbai for which he was undergoing surgery. Among the country’s most bankable stars, Khan, 54, is the son of…