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 09:15 ET (13:15 GMT)

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