Business

Reuters reports: U.S. states claimed they are owed $2.2 trillion to address harm from OxyContin maker Purdue Pharma LP’s alleged role in America’s opioid epidemic, accusing the drugmaker in new filings of pushing prescription painkillers on doctors and patients while playing down the risks of abuse and overdose. In filings made as part of Purdue’s bankruptcy proceedings that were disclosed …

The Verge reports: No Uber and Lyft rides in California? After a judge rejected the companies’ effort to delay an order that they classify drivers as employees, it seems inevitable. Uber and Lyft have until August 20th to comply with the order. But the companies have said they will need to go dark in the Golden State in order to …

Gothamist reports: Mayor Bill de Blasio did not hold his usual morning press conference today, but his office did share news about the city’s ongoing Open Streets initiative. The city announced this afternoon that 21 more locations around the five boroughs will become Open Streets for outdoor dining. That brings the citywide total to 76 participating streets and nine pedestrian …

The BBC reports: Fortnite-maker Epic Games is taking legal action against Google after being banned from the Google Play app store, hours after doing the same with Apple. Apple and Google both removed the hit game from their app stores after Epic Games bypassed their payment systems, to avoid giving them a cut of sales. Both platforms take a standard …

The Verge reports: Microsoft has published a full 35-minute Surface Duo press briefing video that it held with journalists earlier this week. Microsoft typically holds in-person events for its Surface products, and this year’s press briefing was essentially a virtual version of a Surface event. Microsoft announced the Surface Duo, a dual-screen Android phone, earlier this week. Priced from $1,399, …

The Verge reports: AMC Theaters has detailed its plans to reopen movie theaters throughout the US, in addition to a new deadline for its MoviePass-style A-List subscription, in an email sent to customers on Wednesday. Starting August 20th, AMC plans to have more than 100 theaters open, and it says it will continue opening locations “such that about two-thirds of …

CNBC reports: The off-price chain Stein Mart announced Wednesday it has filed for Chapter 11 bankruptcy protection and plans to permanently close most, if not all, of its stores, adding to the turmoil in a retail industry that has been hammered by the coronavirus pandemic. The Jacksonville, Florida-based company said in a press release that it has already launched a …

Mother Jones reports: In late July, a wild chain of events occurred when the Trump administration decided to give Eastman Kodak, the film giant that went bankrupt in 2012, an unprecedented $765 million government loan through the Defense Production Act. The agreement was officially announced on July 28, but the previous day, the price of Kodak’s stock began to surge, …

The Hill reports: Outgoing New York Times CEO Mark Thompson said he would be “surprised” in the newspaper still offered a print edition in 20 years, adding that he’s skeptical if advertising will ever return at pre-pandemic levels. “I believe the Times will definitely be printed for another 10 years and quite possibly another 15 years — maybe even slightly …

CNBC reports: McDonald’s is suing its former CEO Steve Easterbrook for allegedly lying during the company’s internal probe into his behavior. The fast-food chain’s board announced in November that it had terminated Easterbrook for having a consensual relationship with an employee and tapped Chris Kempczinski as his successor. A probe allegedly revealed that Easterbrook lied to the company and destroyed …

The Verge reports: Amazon has had talks with Simon Property Group about converting some of its mall spaces into fulfillment centers. The conversations started before the coronavirus pandemic, and before the latest wave of bankruptcy filings by mall stalwarts like Lord & Taylor, JCPenney, and Nieman Marcus. It’s a bit of an on-the-nose example of how e-commerce is overtaking the …

NPR reports: When it comes to the new rules for the novel coronavirus, airlines like Delta are taking them very seriously. So far, the carrier has banned 100 anti-maskers from taking their flights and gone a step further by adding them to a “no fly” list. The legal reasoning is pretty straightforward, says Sharona Hoffman, co-director of Case Western Reserve …

CNBC reports: A deal that would have seen Eastman Kodak get funding to produce drug ingredients that could have helped fight the coronavirus has been put on hold. In a tweet Friday evening, the U.S International Development Finance Corporation said it was holding up the deal as regulators reportedly look into trading activity that sent Kodak’s shares surging on news …

The Guardian reports: Canada has announced that it will retaliate dollar for dollar – to the tune of C$3.6bn – after the US announced a 10% tariff on Canadian aluminum. Donald Trump announced the new aluminum tariffs on Thursday at a campaign stop at a Whirlpool appliance plant in Ohio, accusing Canada of taking advantage of its trade relationship with …

Business Insider reports: Virgin Atlantic filed for Chapter 15 bankruptcy in New York on Tuesday, becoming the latest airline forced into reorganization during the coronavirus pandemic. Virgin Atlantic is the second Virgin Group airline to file for bankruptcy protection. Virgin Australia filed for voluntary administration — a form of bankruptcy in Australia — in April. London-based Virgin Atlantic, which is …

Gothamist reports: Putting an end to months of rumors, Facebook announced a commitment to lease all of the office space at the Farley Post Office Building, located across from Penn Station in midtown Manhattan. Mayor Bill de Blasio heralded the deal as “a big part of our future” and a “big vote of confidence” in New York City. The James …

The Wall Street Journal reports: The Securities and Exchange Commission is investigating the circumstances around Eastman Kodak Co.’s  announcement of a $765 million government loan to make drugs at its U.S. factories, according to people familiar with the matter. News of the loan last week caused Kodak’s shares to rise as high as $60, before falling to about $15 on …

Reuters reports: After years of being part of a future that never quite arrived, the coronavirus pandemic has put U.S. online car sellers on the map. Investors are buying in. Vroom’s shares are now trading at more than double their $22 launch price on June 8. Carvana’s market value is near that of No. 2 U.S. automaker Ford Motor Co. …

CNBC reports: Lord & Taylor, one of America’s oldest department stores, has filed for bankruptcy, joining a growing list of stores slammed by the coronavirus pandemic. Tailored Brands, the parent company of Men’s Wearhouse and Jos. A. Banks, filed for bankruptcy as well. Many of the companies that have filed for Chapter 11 in recent weeks were already struggling, but …

Via press release from Dunkin’ Donuts: From the beginning of the coronavirus (COVID-19) pandemic, our priority has been on the safety of our guests, franchisees and their restaurant crew. To help bring consistency to Dunkin’ locations across the country, we will now require that all guests wear a face covering while inside our restaurants beginning Wednesday, August 5. At Dunkin’, …