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The Latest Breaking News from Wall Street Journal

Uber Stock Rallies, But Barely Clings To Support: What's Next?

Uber Technologies Inc. (NYSE: UBER) shares were trading higher Tuesday following a Wall Street Journal report indicating the company is launching a campaign to head off Democratic efforts to classify its workers as employees, which would allow them to form unions.

Benzinga

This Carbon Solutions Firm Looks To Go Public Via $2.2B SPAC Merger With AMCI

LanzaTech NZ Inc looks to go public via a special purpose acquisition company (SPAC) AMCI Acquisition Corp II (NASDAQ:AMCIW), the Wall Street Journal reports. The SPAC deal values the carbon-capture and transformation company at ~$2.2 billion. LanzaTech traps carbon emitted during industrial processes and uses bacteria to convert the waste gas into sustainable…

Benzinga

Uber Et al Campaign Against Democrat's Efforts To Classify Gig Workers As Employees

A string of companies using independent contractors as drivers launched a campaign to head off Democratic efforts to classify their workers as employees, allowing them to form unions, the Wall Street Journal reports. The companies include Uber Technologies Inc (NYSE:UBER), Lyft Inc (NASDAQ:LYFT), DoorDash Inc (NYSE:DASH), GrubHub Inc (NASDAQ:GRUB), and others. The companies aim to spend over $1 million…

Benzinga

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Estee Lauder To Close All Stores In Russia - Report

Estee Lauder Companies Inc (NYSE:EL) is suspending all its commercial activities in Russia following the Ukraine crisis, the Wall Street Journal reported. The company will close all stores it owns in Russia and stop shipping products to retailers in the country. Estee Lauder gets roughly 2.7% of its revenue from Russia, and…

Benzinga

Boeing And Airbus's Paths Diverge On Buying Titanium From Russia — Will The Supply Woes Worsen?

Boeing Co (NYSE: BA) has suspended buying titanium from Russia since the country invaded Ukraine, The Wall Street Journal reported on Monday, citing a spoke

Benzinga

US Officials Say Russia Recruiting Syrians to Fight in Ukraine

Russia is recruiting Syrian fighters experienced in urban combat as it ramps up its assault on Ukraine, according to US officials quoted by the Wall Street Journal on Sunday. Moscow, which launched an invasion into its Eastern European neighbor on February 24, has in recent days recruited fighters from Syria…

Asharq Al-Awsat

US DOJ Probes Poultry Companies Over Employment Practices: Report

The Justice Department in the U.S. has launched an investigation into whether poultry companies have engaged in anticompetitive sharing about employment practices, the Wall Street Journal reported. The move adds to the scrutiny that U.S. meat processors face from the government and their workers for holding down wages. The report noted…

Benzinga

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Here's Why Splunk Shares Are Soaring Today

Private-equity firm Hellman & Friedman LLC acquired a 7.5% stake in Splunk Inc (NASDAQ:SPLK) worth about $1.4 billion. The Wall Street Journal reports that Hellman & Friedman started buying the stake in mid-late December after Splunk shares plunged when the company's former CEO resigned following several quarters of disappointing results. The stake would make Hellman & Friedman…

Benzinga

Here's Why Online Publishers Are Ditching Google

Multiple leading online publishers look to ditch Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google's Accelerated Mobile Pages program to optimize readers' mobile-browsing experience, the Wall Street Journal reports. Media executives admitted that dropping AMP would give them more control over their page designs and ad formats, and make it easier to sell ad space in…

Benzinga

Elon Musk probed in US over stock trades: report

New York (AFP) - US market regulators are probing whether Tesla boss Elon Musk and his brother violated insider trading rules in connection with whopping share sales last year, the Wall Street Journal reported Thursday.

AFP

SEC Probing Elon Musk, Kimball Musk Over Insider Trading In Tesla Stock

The Wall Street Journal reported Thursday that the SEC is looking into trades made by Kimbal Musk days before his brother, Elon Musk, conducted a Twitter poll signaling a major share sale.

The Street

Microsoft Security Chief Stresses On Importance Of Combating Cyberattacks Through Cloud Adoption

Microsoft Corp's (NASDAQ:MSFT) new security chief, Charlie Bell, emphasized the importance of solving cyberattacks by embracing cloud, the Wall Street Journal reports. Microsoft has built a $15 billion business and one of the world's most enormous private cyber armies to counter cyberattacks. WSJ notes that U.S. banks flagged nearly $600 million in…

Benzinga

"The New Due Process: Fairness in a Fee-Driven State"

An interesting and important new article by Profs. Glenn Harlan Reynolds (InstaPundit) and Penny White, both of the University of Tennessee College of Law (see also this Wall Street Journal piece, excerpted without a paywall here): Many municipalities have chosen to use the criminal justice system as a revenue-extracting tool.…

Reason

Microsoft's Activision Acquisition Triggers Regulatory Subpoenas Over Workplace Harassment

The Wall Street Journal reports that federal and state regulators have broadened their investigations into Activision Blizzard Inc's (NASDAQ:ATVI) leadership role in handling workplace misconduct claims. State watchdog, The California Department of Fair Employment and Housing subpoenaed Activision's directors over its workplace issues. It also has subpoenaed police departments in the Los Angeles area…

Benzinga

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Benzinga

Here's Why Activist Investor Daniel Loeb Sees ~$1 Trillion Untapped Value In Amazon

The Wall Street Journal reports that activist investor Daniel Loeb sees about $1 trillion in untapped value at Amazon.com Inc (NASDAQ:AMZN). Loeb's Third Point LLC counts the e-commerce major as one of its most significant holdings. Third Point, as of the end of 2021, had an Amazon stake valued at $784 million. The fund…

Benzinga

Here's Why Magnite, Digital Turbine, Trade Desk Shares Are Trading Lower Today

Shares of adtech companies fell on Wednesday morning on a report that Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google will stop cross-app tracking on Android phones, following a similar move by Apple Inc (NASDAQ:AAPL). "We don't think there should be a forced choice between privacy and developers building their business," Anthony Chavez, VP of product management for Android…

Benzinga

From 'Facebook' To 'Meta,' 'Facebookers' To 'Metamates' - Mark Zuckerberg Talks About The Future

Meta Platforms Inc (NASDAQ:FB) founder Mark Zuckerberg offered his vision for a corporate culture that will “build awesome things,” “live in the future,” and be run by employees whom he called ‘metamates.’ Zuckerberg said that Meta would build off the core values written in 2007 but adapt them for the future. “Meta, Metamates,…

Benzinga

Why Is Facebook Parent Meta's Stock Trading Lower Today?

Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google looks to adopt new privacy restrictions to curtail tracking across apps on Android smartphones. Google’s plans for Android could drive an end to more than a decade of advertising practices across smartphones, the Wall Street Journal reports. The move would affect companies, including Meta Platforms…

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Benzinga

Did Umbilical Cord Blood Transplant Help Cure A Woman's HIV infection?

A woman in the New York City area appears to have been cured of an HIV infection, Wall Street Journal reported, provid

Benzinga

Discover Financial Services Targets Launch Of Cardless Payments In US

The Wall Street Journal reports that Discover Financial Services (NYSE: DFS) looks to launch cardless payments for U.S. merchants. DFS collaborated with fintech firm Buy It Mobility Networks Inc, whose technology allows consumers to pay directly from their checking accounts using merchants’ apps. BIM is betting that discounts will help sway shoppers. Merchants pay lower…

Benzinga

Here's What Happening Between Comcast's NBCUniversal And Hulu

Comcast Corp's (NASDAQ:CMCSA) NBCUniversal is nearing a plan that could drastically change its partnership with The Walt Disney Co's (NYSE:DIS) Hulu, the Wall Street Journal reports. NBCUniversal could end up shifting high-profile programming to its Peacock streaming platform under the plan. Comcast, which owns a third of Hulu, launched Peacock less than two years ago,…

Benzinga

Peloton Interactive CEO John Foley to Step Down: Report

Peloton Interactive Inc's (NASDAQ:PTON) co-founder John Foley is stepping down as CEO and will become executive chair, The Wall Street Journal reported. Barry McCarthy, the former chief financial officer of Spotify Technology SA (NYSE:SPOT) and Netflix Inc (NASDAQ:NFLX), will become CEO and president and join Peloton's board. Peloton also plans to cut 2,800 jobs to cope…

The Street

Peloton Stock Slides On Report John Foley To Step Down, Company Plans Major Job Cuts

The Wall Street Journal is reporting that CEO John Foley will step down from the company, potentially paving the way for a sale of the connected fitness equipment maker.

Asharq Al-Awsat

US Officials: Iran’s Nuclear Program Advanced Too Far to Re-create 'Breakout Period'

Iran's nuclear program had advanced too far to re-create the roughly 12-month so-called "breakout period" of the 2015 pact, US officials warned. US officials said Iran is capable of amassing enough nuclear fuel for a bomb in significantly less than a year, a shorter time frame than the one that…

The Independent UK

News Corp says it was hacked; believed to be linked to China

The Wall Street Journal's publisher, News Corp, says it has been hacked and had data stolen from journalists and other employees

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