Biz Headlines: Microsoft CEO in Court, United Under Fire Over Cancellations, Judge OKs Bed Bath Deal
In Wednesday's business headlines, Microsoft CEO Satya Nadella is due in court to defend the company's takeover of Activision Blizzard and United Airlines is under fire over its recent cancellations with CEO Scott Kirby blaming the FAA for the disruptions. Meanwhile, a judge approved Overstock's purchase of Bed Bath & Beyond assets.
Treasury Secretary Janet Yellen notified Congress on Friday that the U.S. is projected to reach its debt limit on Thursday and will then resort to “extraordinary measures” to avoid default.
Stocks closed higher on Wall Street as earnings reporting season got underway and CEOs began to show how well or poorly they’re navigating high inflation and a slowing economy.