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The Latest Breaking News from Wall Street Journal

Sycamore, Franchise Group Submit Bids for Kohl's: WSJ

Kohl’s Corp (NYSE:KSS) has received takeover bids form from private-equity firm Sycamore Partners and retail holding company Franchise Group, Inc (NASDAQ:FRG), the Wall Street Journal reported. Sycamore proposed $50 a share, and Franchise Group offered $60 per share, the report noted, valuing the company between $7 billion - $8 billion. The bidders had previously said…

Benzinga

McDonald's To Deploy Third Party Firm To Evaluate Diversity Initiatives: WSJ

McDonald's Corp (NYSE:MCD) is planning to deploy a third party to evaluate its effort on diversity, equity, and inclusion, the Wall Street Journal reported. In a Securities and Exchange Commission (SEC) filing, the company said about 274 million shares of the company's common stock were voted in favor of the third-party civil…

Benzinga

Pfizer Seeks FDA Approval For Three Covid Vaccine Doses For Children Below Five

Partners Pfizer, Inc (NYSE:PFE) and BioNTech SE (NASDAQ:BNTX) urged the FDA to authorize three vaccine doses for children below five, the Wall Street Journal reports. The companies previously asserted that three doses of the shot were 80% effective at preventing symptomatic Covid-19 with robust immune response in children between six months to five years. After mixed results…

Benzinga

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Are Pulse Oximeters "Intrinsically Biased Against People of Color?"

A Wall Street Journal article suggests that pulse oximeters mismeasure blood oxygen levels in American minority populations, but the article fails to ask some important questions.

Reason

Economy and Society: SEC proposes additional disclosure rules for ESG Funds

Economy and Society is Ballotpedia’s weekly review of the developments in corporate activism; corporate political engagement; and the Environmental, Social, and Corporate Governance (ESG) trends and events that characterize the growing intersection between business and politics.

Ballotpedia

Biden (Almost) Admits That His Own Stimulus Spending Stoked Inflation

Biden's three-point plan to tackle inflation is really a one-point plan: Let the Federal Reserve handle this mess.

Reason

If You Want Protection for Your Loved Ones, Do It Yourself

No hollow promise can replace our attachments to our children, spouses, friends, and our own lives.

Reason

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Morning Brief: Top Financial Stories Dominating on Friday, May 27

CNBC

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

Morning Brief: Top Financial Stories Dominating on Thursday, May 26

CNBC Two Major Tech Deals Come Under UK Government Scrutiny

Benzinga

Adrian Zenz, the academic behind the ‘Xinjiang Police Files’, on China's abuse of Uighurs

Hacked files revealing the repression of Uighur Muslims in China were published on Tuesday by a consortium of media. Labeled the “Xinjiang Police Files”, these documents owe a lot to one man in particular: Adrian Zenz. In recent years, this German anthropologist has become a central target of Chinese propaganda…

France 24

Lyft Pauses Hiring, Budgets To Beat Slowdown Following Uber's Footsteps

Lyft, Inc (NASDAQ:LYFT) looks to slow hiring, reducing some of its departments' budgets and granting new stock options to some employees to make up for its share price fall, the Wall Street Journal reports. Lyft joined rival Uber Technologies, Inc (NYSE:UBER) in outlining cuts as investor optimism cooled on tech stocks. Lyft looked to prioritize fewer…

Benzinga

Elon Musk's SpaceX Fetches 25% Higher Valuation In Latest Funding Amid Sexual Harassment Allegations

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk-owned SpaceX has raised a fresh round of funding that values the privately-held space company at $125 billion, the Wall Street Journal

Benzinga

Glencore ‘to plead guilty’ over £20m bribery case in Africa

The Serious Fraud Office has charged Anglo-Swiss mining giant Glencore with seven counts of bribery after a long-running probe into its activities in Africa.

Evening Standard

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Reason

Court Won't Let CDC End Migrant Expulsion Order Just Yet

Plus: Book bans come for Barnes & Noble, a blow to SEC enforcement power, and more...

Benzinga

Washington Attorney General Indicts Meta's Mark Zuckerberg For Alleged Role In Cambridge Analytica Scandal

The attorney general for Washington, D.C., charged Meta Platforms Inc (NASDAQ:FB) Facebook founder Mark Zuckerberg for allegedly participating in decision-making that led to the Cambridge Analytica data breach, the Wall Street Journal reports. The evidence shows Zuckerberg was personally involved in Facebook’s failure to protect the privacy and data of its users leading…

Benzinga

Activision Blizzard Employees Proceed Towards Unionization

Twenty-two quality-assurance testers at Activision Blizzard, Inc (NASDAQ:ATVI) studios have voted in favor of unionizing with the Communications Workers of America, the Wall Street Journal reports. The workers took part in the vote at Middleton, Wisconsin-based Raven, on May 23 amid opposition from Activision management. The move followed years of complaints about excessive…

Benzinga

Starbucks Closes Russia Business Permanently: WSJ

Starbucks Corp (NASDAQ:SBUX) is shutting down its business in Russia, the Wall Street Journal reported. The coffee giant has decided to permanently close operations in its 130 stores and would no longer have an operation in Russia. The company had suspended its licensee's Russian business on March 8. The report noted the company…

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Asharq Al-Awsat

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…

Benzinga

Cybersecurity Report Finds Microsoft Censoring Politically Sensitive Chinese Names In US Searches

A Microsoft Corp (NASDAQ:MSFT) search engine has made it more challenging in North America to look up politically sensitive people for China, the Wall Street Journal reports. Citizen Lab consistently found that Bing censored politically sensitive Chinese names. Bing’s autofill system, which guesses based on searching after a few keystrokes, often fell silent…

Benzinga

This US Ruling Could Force Google To Break Up Its Ad Business

A bipartisan group of senators led by Utah Republican Mike Lee introduced legislation targeting conflicts of interest in the advertising technology industry, the Wall Street Journal reports. The legislation could force Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google to break up its dominant online-ad business. The Competition and Transparency in Digital Advertising Act would prohibit…

Benzinga

TSMC Weighs Multi-Billion Dollar Chip Plant Investment In Singapore

Taiwan Semiconductor Manufacturing Company Ltd (NYSE:TSM) explored building a semiconductor factory in Singapore to help address a global supply shortage, the Wall Street Journal reports. TSMC studied the feasibility of production lines that would make 7- to 28-nanometer chips widely used in cars, smartphones, and other devices. The cost would run into…

Benzinga

Morning Brief: Top Financial Stories Dominating on Thursday, May 19

CNBC CDC Looking Into 180 Cases Of Unexplained Pediatric Acute Hepatitis

Benzinga

What Is Happening With Endo Shares Today

Endo International Plc (NASDAQ:ENDP) initiated negotiations with its lenders and senior bondholders regarding a possible reorganization of more than $8 billion of its debt, the Wall Street Journal reported, citing people familiar with the matter. Lenders began talks after the company reported disappointing earnings early this month for 1Q 2022, driven by the loss…

Benzinga

Google's Russia Subsidiary To File For Bankruptcy

Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google's Russian subsidiary looks to file for bankruptcy, unable to pay employees and suppliers, the Wall Street Journal reports. An earlier move by authorities to seize its bank account made it difficult to continue operations in the country. Google had already paused most of its commercial operations in Russia, including…

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