News Highlights: Top Company News of the Day
Oracle Lays Off Hundreds of Employees
The layoffs primarily hit Oracle's advertising and customer
experience group as the company emphasizes cloud and healthcare IT
Snickers Maker Apologizes to China for Referring to Taiwan as Its Own Country
Mars Wrigley said it respects China's national sovereignty and
conducts its business operations in 'strict compliance' with local
laws and regulations
Russia Bars Exxon and Other Western Investors From Selling Shares in Strategic Businesses
The move targets companies from countries that have sanctioned
Moscow for the war in Ukraine, widening the rift between Russia and
Ericsson Sued by U.S. Terror Victims Over Alleged Iraq Bribe Payments
Ericsson is being sued by hundreds of Americans who say the
company's alleged payment of bribes to al Qaeda and Islamic
State-protection money meant to let it operate in Iraq-also helped
fund acts of terror.
DraftKings Raises Forecast for 2022 Revenue
The sports-betting company's quarterly results beat
expectations, as executives said customer activity remained strong
despite economic pressures.
Pfizer in Advanced Talks to Buy Global Blood Therapeutics
Acquiring the maker of a recently approved drug for sickle-cell
disease would be the latest move by the drug giant to bolster its
portfolio and pipeline.
Amazon Buying Roomba Maker iRobot for $1.7 Billion
The deal for the robot vacuum, which would be Amazon's
fourth-largest acquisition, adds to a connected-home portfolio that
also includes the Alexa virtual assistant speaker and Ring video
Elon Musk Predicts 'Mild Recession' for 18 Months
Tesla's chief executive said he expects the U.S. is headed for a
mild recession and predicted that the rapid pace of inflation will
begin to cool.
Warner Gets Really Real With Streaming Plan
Canceled movies and a modest long-term subscriber target show
new HBO Max owner is serious about playing smart.
Evergrande Backs Out of Plan to Build World's Largest Soccer Stadium
The struggling Chinese property developer said it would receive
a refund equivalent to about $818 million, and intends to use the
money to help repay debt.
(END) Dow Jones Newswires
August 05, 2022 19:15 ET (23:15 GMT)
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