Oracle Reports Record Annual Profit, Revenue

Oracle Corp. reported an 8% revenue increase in the latest period, ending the year with a record $40.48 billion in revenue.

 
Southwest Airlines Flights Thrown Into Disarray by Technical Problems

The second day in a row of disruptions led the airline to cancel 500 flights.

 
Platinum Equity Strikes Deal to Buy McGraw Hill From Apollo

The deal for the textbook publisher and educational-technology company is valued at about $4.5 billion, including debt.

 
Lordstown Motors Looks to Reset Its Course a Day After CEO's Exit

Executives at the troubled startup say there is plenty of interest in its all-electric truck and production is on track to start in September.

 
Alibaba Falls Victim in Large Data Leak

A Chinese software developer trawled the popular Taobao shopping website for eight months, collecting more than 1.1 billion pieces of user information including IDs and phone numbers, a Chinese court verdict said.

 
DraftKings Shares Fall After Research Firm Unveils Short Position

Short seller Hindenburg Research alleges that the sports-betting company's gambling-technology subsidiary operates in countries where gambling is banned, an allegation that DraftKings denies.

 
Neiman Marcus Rides a Rebound in Luxury Shoppers

After a trip through bankruptcy in 2020, the retailer plans to invest $500 million to refresh stores and improve its digital business.

 
JPMorgan, Other Major U.S. Banks Excluded From Landmark European Bond Program

The European Union excluded some of the world's largest banks, including Bank of America and UniCredit, from working on a nearly $1 trillion coronavirus relief bond program, citing recent cases in which regulators punished them for forming cartels.

 
PwC to Spend $12 Billion on Hiring, Expanding Expertise in AI, Cybersecurity

PricewaterhouseCoopers plans to spend $12 billion and hire 100,000 new people in areas such as artificial intelligence and cybersecurity by 2026, the latest move by a Big Four accounting firm to bet big on technology.

 
AstraZeneca Covid-19 Antibody Treatment Suffers Setback

AstraZeneca's coronavirus antibody treatment failed in late-stage clinical trials to achieve its primary goal of preventing symptomatic Covid-19 in people recently exposed to the virus, the latest disappointment in a broader search for reliable post-infection therapies.

(END) Dow Jones Newswires

June 15, 2021 17:15 ET (21:15 GMT)

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