Business and Commerce

AP News | |

Germany-based Siemens Healthineers said Sunday it will buy U.S. cancer therapy and research company Varian in a deal worth around $16.4 billion.

Siemens Healthineers, in which industrial conglomerate Siemens holds a majority stake, said it will buy all shares in Varian Medical Systems, Inc. for $177.50 per share in cash.

It said that the acquisition is expected to close in the first half of 2021, and requires the approval of regulators and Varian shareho...

Reuters | |

After surviving two strokes at age 27, Olivia Colt threw herself into starting a catering business, a lifelong dream. Ten years and another stroke later, she had built Salt & Honey Catering Plus Events into a thriving operation in downtown Oakland.

Now with the coronavirus pandemic forcing cancellations of her customers’ weddings and events, she has slashed her staff from 25 to six and tried to drum up new business by selling groceries online. She secured a $100,000 forgivable loan under the U.S. Paycheck Protection Program (PPP) and another $150,000 loan under a federal program usually used for natural disasters. She expected the money to get her through just a few months of hardship.

Reuters | |

The IATA cuts its coronavirus recovery forecast on Tuesday, saying it would take until 2024 - a year longer than previously expected - for passenger traffic to return to pre-crisis levels.

In an update on the pandemic’s crippling impact on air travel, the International Air Transport Association cited slow virus containment in the United States and developing countries, and a weaker outlook for corporate travel.

Lingering travel barriers and new restrictions in some markets are also weighing on nearer-term prospects, IATA said, cutting its 2020 passenger numbers forecast to a 55% decline - sharper than the 46% drop predicted in April.

AP News | |

Two major league games scheduled for Monday night were postponed after more than a dozen Miami Marlins players and staff members tested positive for the coronavirus in an outbreak that stranded the team in Philadelphia.

The Marlins’ home opener against Baltimore was called off, as was the New York Yankees’ game at Philadelphia. The Yankees would have been in the same clubhouse the Marlins used last weekend.

Nine Marlins players and five staff members received po...

AP News | |

The founder and CEO of a fast-growing Boston-area bakery and cafe chain has stepped down amid a public campaign by current and former employees complaining of racial discrimination.

Tzurit Or told the Boston Globe on Friday that she’ll step away from day-to-day management of the 14-store operation to focus on the creative side of the business she launched in 2007. She said a new CEO will be named later.

The move comes after a group of current and former Tatte emp...

AP News | |

Worsening China-U.S. friction and worries over aid to Americans and U.S. businesses combined to push world shares lower on Friday.

Wall Street appeared set to extend losses from the previous day, with Dow and S&P 500 futures both down 0.3%. Germany’s DAX index fell 1.5% to 12,913, while the CAC 40 in Paris skidded 1.2% to 4,972. Britain’s FTSE 100 shed 1.1% to 6,144.

Trump administration officials have escalated t...