A group of high powered investors want to raise billions to form a new international basketball league, according to people familiar with the matter. The new organization would offer players equity, those people said. The investors aim to raise $5 billion for the league, which could serve as a rival to the NBA if it can offer big-money deals to players, similar to how LIV Golf lured away PGA Tour players. It’s unclear which players the league would target or when it could start. Maverick Carter, LeBron James’ longtime friend and business partner, is advising a group that includes investment firm SC Holdings’ Jason Stein and Daniel Haimovic, Skype co-founder Geoff Prentice and former Facebook executive Grady Burnett. A representative for James said he is not involved in the effort and declined to comment on whether the Los Angeles Lakers star has been approached to participate. The group is working with UBS and Evercore…
The CEO of UnitedHealth Group said Thursday that shortcomings of America’s health care system must be addressed. On the…
The Federal Trade Commission said Friday that it is suing PepsiCo for illegal price discrimination, alleging the food and beverage giant gave an…
An outage affecting Capital One customers dragged into its second day Friday, further preventing some customers from accessing deposits,…
The U.S. Food and Drug Administration formally authorized Zyn nicotine pouches for sale after conducting an ‘extensive scientific review’…
JPMorgan Chase on Wednesday posted record quarterly and annual earnings and revenue, reinforcing the company’s status as the biggest and…
Numerous Citibank customers reported receiving fraud alerts and having difficulty accessing their accounts Wednesday. According to DownDetector.com, which tracks…
This year, for the first time in roughly five years, borrowers who have defaulted on their federal student loan…
Capital One said an unspecified technical issue was hampering customer account access, as some users reported issues with direct…