(Bloomberg) -- The Trump administration is launching what could turn out to be the biggest attack in a century against the giants of America’s meat industry, which already faced uproar over employee treatment during the pandemic.The Justice Department is bringing criminal charges in the poultry industry just as it opens a formal probe of beef companies. Regulators are also scrutinizing potential price manipulation, and on Capitol Hill, lawmakers are clamoring for a crackdown.The threat from Washington is casting further spotlight on the industry after coronavirus outbreaks saw thousands of workers get sick, forcing plants to shutter. President Donald Trump in early May said he’d have the Justice Department look into beef prices, which more than doubled in about a month.The timing of the moves is interesting given that farmers have long complained about the dominance of just a handful of companies in beef and poultry markets, but antitrust enforcers haven’t before...
With large gatherings limited during the coronavirus pandemic, artists are experimenting with new ways to perform, and some of these shows are already attracting millions of fans globally. WSJ explains. Image: Epic Games...
"China Unicom has chosen Nokia to support the buildout ofits 5G SA Core network in China, marking an expansion of Nokia's existing 4G working relationship with the Chinese communication service provider," Nokia said in a statement, adding the deal corresponded to a 10% share. At the end of April, Nokia's Suri told Reuters in an interview that Nokia had won a 10% share of China Unicom's 5G core network, alongside rivals Huawei and ZTE....
Field Programmable Gate Arrays (FPGAs) -- for its 5G equipment that customers could reprogramme but high costs and supply hurdles last year forced it to change course. "We still stand by the decision of going with FPGAs because it was the right thing to do at that time," Sandro Tavares, Nokia's head of mobile networks marketing, told Reuters. Nokia, which competes with Sweden's Ericsson and China's Huawei [HWT.UL], had said its 5G products could not reach the market in time due to delays by one supplier, identified by analysts as Intel....
Extraction Oil & Gas (XOG) has announced that it has voluntarily filed for petitions for relief under chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. Shares are now falling 30% in Monday's pre-market trading.“After months of liability management and careful analysis of our strategic options, we determined that a voluntary chapter 11 filing with key creditor support provides the best possible outcome for Extraction,” said Extraction CEO Matt Owens.At the same time, XOG revealed that it has obtained a committed $125 million debtor-in-possession financing facility, with $50 million in new money, up to $15 million of which will become immediately available upon the Bankruptcy Court’s order, and a “roll up” of $75 million of revolving loans under Extraction’s existing revolving credit agreement.The DIP Facility is underwritten by Wells Fargo Bank, National Association and the $50 million in new money is financed by...
