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 Bausch Health Cos. shares soared 27% in premarket trade Thursday, after the company said it is planning to spin off its eye-care business into a separate public company, confirming a Wall Street Journal report. The business, known as Bausch & Lomb, accounted for nearly half of the company's $8.6 billion in revenue last year, the WSJ reported. Bausch said the move will allow it to focus on expanding its position in GI, aesthetics and dermatology, neurology and international pharma. The company said it will complete the spinoff in stages, and will start by reporting Bausch & Lomb as a separate segment starting in the first quarter of 2021. Timing of the spinoff will then depend on a range of factors, including regulatory approvals. The move further breaks apart the former Valeant, which acquired Bausch & Lomb for $8.7 billion in 2013, under then-CEO Michael Pearson. Under Pearson, Valeant had used acquisitions to aggressively grow and become a popular stock, until the company was caught up in a series of drug pricing and accounting scandals. Shares have fallen 35% in the year through Wednesday, while the S&P 500 has gained 3%.
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The $6 billion Lincoln Yards megadevelopment is expected to be under construction by early next year, as developer Sterling Bay moves closer to filling up a nearby biotech research facility on Chicago's North Side. Sterling Bay plans to break ground on an eight-story, 320,000-square-foot office and laboratory facility along the Chicago River by early 2021, at the south end of the 55-acre former industrial site.
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Microsoft Has 'No Plans' to End Xbox Live Gold Service IGNMicrosoft cuts xCloud iOS testing early as its future on Apple devices remains unclear The VergeReminder: These 6 Games Are Now Available With Xbox Game Pass Pure XboxAugust's Game Pass offerings include Final Fantasy 7 HD and Man of Medan Eurogamer.net
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 On Aug. 7, 1945, 50-year-old governor Genshin Takano sat down to write a letter to a superior. Takano was lucky to be alive, and the weight now on his shoulders was immense. On the morning of the previous day, an American B-29 plane dropped the world's first atomic bomb on Takano's city: Hiroshima. The bombardier...
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 After COVID-19 forced Disney to delay the theatrical release of the live-action movie for months, the company has finally decided to release 'Mulan' on its streaming service Disney .
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President Trump said he supported a proposal that has gained bipartisan support for $25 billion in additional federal aid for airline payrolls.
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 Many social media users are furious over Disney's streaming plan for the live-action ‘Mulan' remake
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 California's new academic year begins soon, but for many students, going back to school means logging in to classes from home. As the state's coronavirus cases rose steadily through the summer months, its largest school districts abandoned plans for in-person or hybrid education programs.
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