BusinessReuters•7 hours agoLegendary U.S. guitar-maker Gibson files for bankruptcy
Nashville-based Gibson, whose legendary brands include Les Paul and SG, has been suffering under $500 million in debt linked to the acquisition of its consumer electronics business overseas, where sales have been in sharp decline. In a filing in U.S. Bankruptcy Court in Delaware, Gibson said the overseas consumer electronics business will be wound down, allowing it to re-focus on its core guitar-making and audio businesses.
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- FinanceTechCrunch•1 hour ago
Apple says it will return $100B to investors with a massive new program after a strong Q2
Apple ended up with a pretty decent report for its second quarter, beating analyst expectations on most of its metrics — but it is making a huge move in terms of returning capital to investors. The company said it is announcing a new $100 billion buyback program and increasing its dividend by 16%. While Apple in the past several months a lot of the momentum that carried it to a market cap nearing $1 trillion, the company's stock has still risen around 80% in the past two years.
