Snapchat disclosed it has raised more than $500 million in new funding from Alibaba and other investors, in a financing that values popular messaging service at $16 billion.
The Federal Trade Commission sued to block the $1.9 billion merger of infection-prevention firm Steris and U.K. peer Synergy Health, with the companies pledging to fight back in court.
Global commodities traders are seeking new places in Asia to store billions of dollars-worth of metals to drive down costs—which also helps reduce scrutiny of their market position.
A new Bristol-Myers cancer drug that works by unleashing the body’s immune system showed benefits for lung-cancer patients, but the clinical trial’s results disappointed investors.
Wells Fargo Chief John Stumpf said the bank may finance other General Electric deals as they unfold, but he wouldn’t make any predictions about whether the bank would be a buyer.
Embattled Greek banks have been hit with more damaging data that showed savers withdrew funds at a rapid clip in April. But some high-profile investors have backed the lenders in recent months.
The president of American Express, Edward Gilligan, who was viewed as a likely successor to CEO Kenneth Chenault, died on the way home from a business trip.
Humana is exploring a possible sale of the company, a move that could trigger a round of mergers in an industry grappling with challenges and opportunities created by the federal health-care overhaul.