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The Latest Breaking News from WSJ

Credit Suisse Warns On Q2 Loss, Mulls Workforce Reduction To Save Costs

Credit Suisse Group AG (NYSE:CS) is looking for another round of job cuts to manage costs after warning of a second-quarter loss, Bloomberg reported citing people familiar with the matter. The people said that the bank is mulling headcount reductions across divisions and regions. Final numbers are still to be decided, they said. …

Benzinga

Big 4 Accounting Firm Ernst & Young Considers Separating Audit and Advisory Businesses: WSJ

Big Four accounting firm Ernst & Young is considering a global split of its audit and advising businesses amid regulatory scrutiny of potential conflicts of interest in the profession,

Benzinga

WeWork Appoints Andre Fernandez As Finance Chief; Affirms Outlook

WeWork Inc (NYSE:WE) has appointed Andre J. Fernandez as Chief Financial Officer (CFO) effective June 10, 2022. This is the third time the co-working space operator has hired a finance chief since March 2020, the Wall Street Journal reported. Fernandez recently served as the CFO of Atlanta-based enterprise software company NCR Corp (NYSE:NCR). The WSJ report…

Benzinga

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Report: Apple Looks to Boost Production Outside China

Apple Inc has told some of its contract manufacturers that it wants to increase production outside China, the Wall Street Journal reported, citing people familiar with the matter. India and Vietnam, which are already sites of Apple production, are among the countries short-listed by the company as alternatives, the report…

Asharq Al-Awsat

Is The NFT Market Dead Or Alive? That Depends On Who You Ask

After taking the market by storm in 2021, the growth of non-fungible tokens has faced some bumps in 2022. Ask those who cover the sector if the NFT market is dead or alive, and you may get some different answers.

Benzinga

Lenovo, Xiaomi, Other Chinese Tech Giants Pull Back From Russia

Chinese tech companies, including PC giant Lenovo Group Ltd (OTC:LNVGY) and smartphone maker Xiaomi Corp (OTC:XIACY), quietly pulled back from Russia under pressure from U.S. sanctions and suppliers, the Wall Street Journal reports. Consumer drone giant SZ DJI Technology Co suspended its business in Russia and Ukraine pending a compliance review. The companies pulled back amid Beijing…

Benzinga

Facebook keeps finding new ways to be utterly evil

Documents and emails leaked to 'The Wall Street Journal' suggest Facebook intentionally disrupted the flow of information in Australia to influence legislation.

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Facebook Deliberately Caused Chaos In Attempt To Thwart Unfavorable Australian Law, Whistleblowers Allege

Whistleblowers have alleged that Meta Platforms Inc-owned (NASDAQ: FB) Facebook's act of blocking news pages in Australia was a deliberate negotiating tactic to thwart a potential law, according to

Benzinga

Making Sense Of The Apparent Leaked Opinion In Dobbs

My instant reaction to Leakgate.

Reason

European Regulators Expect Risk Over Non-Payment Of Leveraged Loans: WSJ

Europe’s banking regulator fears that highly indebted borrowers could start struggling to pay off their debt as the economy slow down, higher costs, and interest rates increase. Leveraged financing has skyrocketed in Europe and elsewhere over the past years as central banks unleashed cheap money to propel economic growth.

Benzinga

This Day In Market History: WSJ Interest Rate Headline Tanks Market

Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.

Benzinga

The WSJ Is Worried About The Chief Justice "Turn[ing]" Votes In Dobbs

I'm having flashbacks to NFIB and Bostock. Has there been a leak?

Reason

Top Meta Official Faces Internal Scrutiny For Doling Out Favours To Activision CEO Bobby Kotick

Meta Platforms Inc (NASDAQ: FB) COO Sheryl Sandberg faced internal scrutiny for allegedly pressing a U.K.

Benzinga

This Digital Freight Operator Raises Funds At $3.8B Valuation, Positioning It For Potential IPO

Digital freight operator Convoy Inc raised $160 million in new funding that values the load-matching business at $3.8 billion positioning it for a potential IPO. Convoy substantially completed the Series E funding round led by Baillie Gifford & Co, T. Rowe Price Associates Inc, and others during the fourth quarter of 2021. Convoy…

Benzinga

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Benzinga

Biden To Announce New Military Package For Ukraine

Within the coming days, U.S. President Joe Biden is expected to announce another military aid package for Ukraine about the same size as the $800 million one last week, Reuters reported citing familiar sources. One U.S. official said a new package was expected that would be roughly the size of the previous…

Benzinga

Warner Bros.Discovery Suspends External Marketing Spend For CNN+: Axios

Warner Bros.Discovery Inc (NASDAQ:WBD) suspended every external marketing spending for its recently launched streaming service CNN+ and laid off CNN's CFO Brad Ferrer, Axios reports. Discovery's current CFO for streaming and international, Neil Chugani, succeeded Ferrer. The report added that Warner Bros. Discovery looks to eliminate other high-level positions at WarnerMedia across…

Benzinga

Apple Chief Warns Against Privacy Risks From Antitrust Laws: WSJ

Apple Inc (NASDAQ:AAPL) CEO Tim Cook warned against proposed antitrust legislation on unintentionally making iPhones less safe, the Wall Street Journal reports. The legislation could put users at risk to “data-hungry” companies looking to sidestep its privacy features. The Congress and the European Union Legislation wanted Apple to allow the download of…

Daily Record

Scouts selected for world gathering adventure in Korea begin funding challenge with a Tay river duck race

The mighty River Tay is to be the setting for an exciting race between 2000 plastic bath toys as a group of local scouts bound for Korea next year invite the public to seize the chance to win £300 on Easter Saturday.

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Benzinga

AT&T Chief Looks To Boost Prices, Cut Costs Post Media Spinoff: WSJ

AT&T Inc (NYSE: T) CEO John Stankey saw inflation prompting him to raise prices for some core services while it continues to cut costs after getting out of the media business,

Benzinga

Activision Blizzard Looks To Convert Temporary Staff To Full Time Roles

Activision Blizzard Inc (NASDAQ:ATVI) looks to convert 1,100 U.S.-based temporary and contingent quality assurance workers of some divisions to full-time employees, starting July 1, Reuters reports. Microsoft Corp's (NASDAQ:MSFT) acquisition target looks to raise the minimum hourly wages for the employees from the Activision Publishing and Blizzard divisions to $20 or more and offer them…

Benzinga

Amazon To Appeal Its Defeat To New York Union

Amazon.com Inc (NASDAQ:AMZN) looks to appeal its loss to New York union organizers, the Wall Street Journal reports. Roughly 55% of the workers who cast valid votes from a Staten Island facility named JFK8 chose to side with Amazon Labor Union. WSJ notes that Amazon has accused the union organizers of threatening…

Benzinga

Airlines, Restaurant Chains Jump On Subscription Bandwagon: WSJ

Yum!

Benzinga

Biden Administration Looks To Revoke Trump-era Pandemic Border Policy: WSJ

The Biden administration looked to revoke ‘Title 42’ by May, the Wall Street Journal reports.

Benzinga

EMA Starts Review Of Sanofi-GlaxoSmithKline's COVID-19 Vaccine

The European Medicines Agency has started reviewing Sanofi SA (NASDAQ:SNY) and its partner GlaxoSmithKline Plc's (NYSE:GSK) application seeking conditional authorization for their COVID-19 vaccine. The vaccine candidate, Vidprevtyn, was already being evaluated under a rolling review by EMA. The drugmakers had earlier said that they would seek regulatory approval for their COVID-19 vaccine to be…

Benzinga

HUYA Shares Drop As China Reportedly Renews Crackdown In LiveStreaming Sector

China drafted new regulations to cap internet users' daily monetary spending on digital tipping as a part of a renewed crackdown on the $30 billion live-streaming industry, the Wall Street Journal reports. China also looked to set a daily limit on live-streamers earnings and tighter censorship over the content. The report…

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