BP Exits Petrochemical Business in $5 Billion Deal

Energy giant BP has agreed to sell its petrochemicals business to British chemicals company Ineos in a $5 billion deal that will help reshape its business for the global transition to lower-carbon energy. 


 
Covid-19 Drug Remdesivir to Cost $3,120 for Typical Patient on Private Insurance

Gilead Sciences disclosed its pricing plans as it prepares to begin charging for remdesivir in July. The U.S. has been distributing the drug donated by Gilead since it was authorized for emergency use in May. 


 
Blackstone Sees Film-Production Facilities as a Hot New Real-Estate Play

Real-estate investors at Blackstone Group are getting into show business by acquiring stakes in the production facilities and other real estate where companies like Netflix and Walt Disney are creating content. 


 
Shift Plans to Go Public This Year as Covid-19 Boosts Online Car Sales

The online used-car seller is looking to ride the momentum of rivals Carvana and Vroom, whose valuations have jumped as the pandemic propels them past traditional dealers. 


 
Coffee's for Closers: How a Short Seller's Warning Helped Take Down Luckin Coffee

In January, days after the shares of Luckin Coffee hit a record high on the Nasdaq Stock Market, giving the company a $12 billion valuation, a cryptic email arrived in the inboxes of multiple short sellers. 


 
Camden Spinout Catalio Sets Up as Biomedical Investor

A majority of investors in the Nexus funds of Camden Partners supported the spinout this month of its Nexus Management group into a new firm, Catalio Capital, according to people familiar with the situation. 


 
Fracking Trailblazer Chesapeake Energy Files for Bankruptcy

Chesapeake Energy filed for bankruptcy protection as an oil- and gas-price rout stoked by the coronavirus pandemic proved to be the final blow for a shale-drilling pioneer long hamstrung by debt. 


 
FAA to Start Boeing 737 MAX Test Flights

U.S. air-safety regulators are set to begin key flight tests as early as Monday, amid growing expectations by industry and government officials that the planes are likely to return to service around the end of the year. 


 
U.S. Presses Europe to Uproot Chinese Security-Screening Company

Amid a global anti-Huawei effort that has seen mixed results, the U.S. sets another Chinese tech company in its crosshairs: Nuctech, a state-controlled firm that is quietly dominating Europe's cargo and airport screening market. 


 
Coronavirus Erases Guidance From 40% of S&P 500

More than 40% of the companies in the S&P 500 have pulled their guidance, as the coronavirus pandemic has doused U.S. corporations in uncertainty, and their shares together have fallen more than the broader index.