Uber is turning to the leveraged-loan market for the first time to raise as much as $2B, Dow Jones reports, in yet another sign of the popular ride-sharing network's hunger for cash as it expands around the world. The fundraising follows a recent equity injection of $3.5B from Saudi Arabia and could continue to delay the need for an UBER IPO.
According to reports in the Asahi and Yomiuri newspapers, Mitsubishi Motors (OTC:MMTOY) used improper fuel economy data in additional car models that are no longer being sold and plans to report on the matter soon. The mileage scandal has so far prompted the automaker to restate past earnings, shake up management and sell a controlling stake to Nissan (OTCPK:NSANY).
The U.S. State Department cannot yet address whether Boeing (NYSE:BA) has obtained a license to sell commercial planes to Tehran, but a spokesman confirmed that the Iran deal does allow sales of the aircraft on a case-by-case basis. On Tuesday, the Islamic Republic announced it had reached a jetliner agreement with Boeing, reopening the country's skies to new U.S. aircraft for the first time in decades.
Twenty-five years after classifying coffee as a possible carcinogen leading to bladder cancer, the World Health Organization has reversed course, and is expected to say today that coffee isn't classifiable as a carcinogen. WHO is also likely to state coffee has no carcinogenic effects related to other cancers and has even been seen to reduce the risk of liver and uterine cancers. Related tickers: SBUX, DNKN, SJM, QSR, MCD, MDLZ, KKD,WWAV, JVA, FARM
Amarillo SWAT officers have shot and killed a man who took his manager and another person hostage inside a Wal-Mart (NYSE:WMT) Tuesday afternoon. "As soon as we heard about the situation... we acted immediately," said company spokeswoman Deisha Barnett. Police identified the suspect as 54-year-old Mohammad Moghaddam, who was apparently upset about getting passed over for a promotion.
"We have to protect [intellectual property], we have to do everything to stop the fake products, but OEMs are making better products at a better price," Jack Ma said during a speech in Hangzhou. The remarks by the chairman of Alibaba (NYSE:BABA), which has long been dogged by accusations of tolerating the sale of counterfeit goods on platforms such as Taobao, are unlikely to be welcomed by luxury goods makers.
BlackRock's business leaders are set to present their strategies and observations regarding the state of the asset management industry at the company's annual investor day in New York. Wall Street will be looking for convincing plans on how BlackRock (NYSE:BLK) aims to grow units other than its booming ETFs franchise at a time when traditional money managers have been challenged to post competitive performance figures.
MetLife has waived its retirement policy for CEO Steven Kandarian, allowing him to continue in the top job past his 65th birthday next March. "With the company in the midst of dramatic change, we believe Steve's continued leadership will serve shareholders," said Cheryl Grise, the board's independent lead director. MetLife (NYSE:MET) is currently looking to separate its capital-intensive U.S. retail unit and defeat a U.S. appeal over its SIFI designation.
A World Health Organization panel has elevated the Zika virus to a public health emergency, but spurned calls to postpone or move the 2016 Olympic Games, which are scheduled to begin in Rio de Janeiro in six weeks. Brazil is hosting the Games during its winter, when the concentration of mosquitoes that spread Zika and other viruses is low, the committee noted. The country is also intensifying its efforts to control mosquitoes around cities and event venues.
U.S. Senator Charles Grassley, chairman of the Senate Judiciary Committee, is urging federal antitrust officials to conduct a "careful analysis" of Dow Chemical's (NYSE:DOW) proposed $130B merger with DuPont (NYSE:DD). Among the concerns: A decrease in farming competition, raising barriers to entry for smaller companies, hurting innovation and lifting prices of products.
A ConocoPhillips pipeline has leaked nearly 2,400 barrels of condensate, an ultra-light form of oil, within an endangered caribou and grizzly bear range in west-central Alberta. The province's energy regulator has issued an environmental protection order to COP, which said it was investigating the cause of the spill and shut down and isolated the pipeline.
Out of the public eye for more than a year, Sumner Redstone has made appearances at Viacom's (VIA, VIAB) Paramount Pictures and CBS's West Coast headquarters over the past five days. The visits come as Viacom lead independent director, Fred Salerno, pleads for a meeting with Redstone and warned of further court battles if the media tycoon remains inaccessible to the board.
Two years after it thought about buying SoundCloud, Twitter (NYSE:TWTR) has reportedly invested $70M in the music service. The round is expected to value SoundCloud at about $700M - the same amount that investors placed on the company in 2014, when it raised $60M. Twitter is up 9.6% over the last two days, as Microsoft's (NASDAQ:MSFT) $26.2B deal to buy LinkedIn (NYSE:LNKD) fueled hopes it would also get acquired. TWTR+1.2% premarket.
Google Fiber is looking to expand in the Lone Star state. The Alphabet (GOOG, GOOGL) unit is working with Dallas leaders to learn more about the city's existing infrastructure, local topography and other factors that could impact the building of a fiber network. The service, which costs $70 per month, is already available in Austin and is set to roll out in San Antonio.