News Highlights: Top Company News of the Day

 
Musk Demands Clarity on Fake Twitter Users for Deal to Go Ahead 
 

The Tesla CEO said his $44 billion deal can't move forward until the company is clearer about how many of its accounts are fake.

 
Petronas Chemicals Buys Perstorp in Bid to Diversify Into Specialty Chemicals 
 

Petronas Chemicals Group Bhd. proposed to buy Sweden specialty chemical company Perstorp Holding AB in a bid to diversify existing businesses and capture new growth opportunities.

 
Carlyle's $4.2 Billion ManTech Deal Shows Private Equity's Defense Appetite 
 

Carlyle Group's acquisition of software company ManTech International suggests that private equity might be getting more bullish on defense and national-security contractors, research analysts said.

 
CVC Shelves Brambles Takeover Plan on Market Volatility 
 

Brambles said that CVC Capital Partners decided against making a formal takeover proposal for the pallet supplier due to what the private-equity firm called external market volatility.

 
KKR to Buy UK's ContourGlobal 
 

UPDATED: KKR has agreed to acquire FTSE 250 power generation group ContourGlobal for $2.1 billion in cash, with the 263.6 pence a share price a 36% premium to Monday's close.

 
Lordstown Motors' Ability to Stay in Business Hinges on Raising Capital, Valuation, CFO Says 
 

The ability of Lordstown Motors to stay in business for at least another year remains in doubt until it secures more funding and its market value rises, its finance chief said after the electric-truck maker sold its factory to raise cash.

 
FDA Eases Baby-Formula Import Rules to Boost Supplies 
 

Overseas makers will need to apply with the agency to make shipments to the U.S., and safety and quality checks will follow.

 
Microsoft Boosts Pay in Fight for Talent 
 

Microsoft's CEO is promising to boost employee compensation amid continued low unemployment across the U.S. and high inflation.

 
Vodafone Results in Line But Outllok Cautious 
 

Vodafone delivered adjusted earnings of EUR15.2 billion in fiscal 2022 on a slight rise in revenue but cautioned that the macroeconomic climate presented challenges, particularly inflation, and is likely to hit financial performance in the year ahead.

 
China Auto Stocks Jump on Hopes That Worst Is Over for Sector 
 

Chinese auto stocks jumped in early trade in Hong Kong amid a growing hope that the sector may have hit bottom and begin to rebound as disruptions related to supply chains and the pandemic begin to ease.

(END) Dow Jones Newswires

May 17, 2022 07:00 ET (11:00 GMT)

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