Neiman Foe Kamensky Sentenced to Six Months in Prison for Bankruptcy Fraud

Hedge-fund founder Dan Kamensky was sentenced to six months in prison for bankruptcy fraud over his attempt to quash a rival bid for shares of a Neiman Marcus Group business that he wanted to buy himself.

 
DraftKings Reports Higher Revenue, Costs as It Bets on Growth

The sports-betting platform benefited from a rollout in more states, but the gains came with significantly higher marketing expenses.

 
Cinemark Reaches Deals With Hollywood Studios to Show Movies

The move is aimed at establishing a model for how long movies would play in theaters before moving to home video.

 
NYSE to Delist Chinese Telecoms Carriers After Rejecting Appeals

China's big three telecoms carriers lost their appeals against being kicked off the New York Stock Exchange and will be delisted to comply with an investment ban introduced by former President Donald Trump.

 
Grocers, Restaurants to Suppliers: Hurry Up, Make More

Retailers are implementing penalties for late or incomplete orders, adding pressure to food makers dealing with labor and ingredient shortages.

 
Barclays Activist Investor Sells Entire Stake

Edward Bramson's Sherborne Investors said it sold its entire stake in Barclays, giving up on a yearslong activist campaign to restructure the British bank with a major Wall Street presence.

 
News Corp Revenue Rises on Real Estate and Publishing Growth

News Corp reported 3% revenue growth for the quarter that ended in March, driven by positive foreign-exchange fluctuations, plus solid growth at the company's digital real estate, book publishing and Dow Jones units.

 
Walmart Deal Shows Expansion in Telehealth, New Front With Amazon

Walmart said it purchased telehealth provider MeMD, another sign that the retail giant aims to expand its healthcare business and open up a new front with Amazon.com.

 
Cash App Is King at Square

The digital wallet's gross profit more than doubled in the first quarter, besting Square's seller business.

 
Siemens Raises Guidance as Second-Quarter Tops Forecasts

Siemens posted better-than-expected second quarter results, thanks to the improved performance of its industrial business and upgraded its profit outlook for the year.

(END) Dow Jones Newswires

May 07, 2021 13:00 ET (17:00 GMT)

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