News Highlights: Top Company News of the Day
May 13 2021 - 9:15AM
Dow Jones News
Alibaba Logs Higher Quarterly Sales but Posts Loss on Antitrust Fine
Alibaba's sales rose, but a large fine imposed by China's top
market regulator after an investigation into anticompetitive
practices weighed on the company's bottom line.
McDonald's Raises Pay for U.S. Restaurant Workers
McDonald's said it would increase pay for employees at
company-owned restaurants in the U.S., one of the latest companies
to bolster wages and benefits as they struggle to hire workers.
Banks Plan to Issue Credit Cards to People With No Credit Scores
Some of the largest U.S. banks plan to start sharing data on
customers' deposit accounts as part of a government-backed
initiative to extend credit to people who have traditionally lacked
opportunities to borrow.
Yelp Ramps Up Spending on Ad Products to Boost Revenue
Yelp is expanding its advertising tools to help plumbers, movers
and other service providers connect with customers online as the
business-listings company looks to grow after a pandemic
downturn.
SoftBank Pulls Back From Funding 'Nasdaq Whale'
SoftBank is pulling back from an investment unit it set up last
year whose bets on publicly traded technology stocks were so large
they earned the Japanese investor the nickname "Nasdaq whale."
Blackstone Swoops Into San Diego to Buy Low-Cost Housing
The deal would transfer about 5,800 apartments to Blackstone's
real-estate portfolio.
Vaccine Patent Waivers Deserve a Warning Label
The Biden administration's move to suspend patents on Covid-19
vaccines opens up a major risk to the way the drug industry does
business.
FAA Approves Boeing 737 MAX Electrical Fixes
Boeing received approval from U.S. air-safety regulators for
fixes to an electrical problem that has grounded more than 100 of
its 737 MAX jets.
Poshmark and RealReal's Half-Off Sale
The online used-apparel sellers debuted on the public markets
with much excitement but are priced more realistically now.
Apple Parts With Executive Over Comments About Women
Apple parted ways with a prominent advertising-technology
executive weeks after hiring him, following complaints from some
employees about passages in a memoir about his time in a prior job
at Facebook that they deemed sexist and misogynistic.
(END) Dow Jones Newswires
May 13, 2021 09:00 ET (13:00 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.