Tencent Plummets as China Calls Online Gaming 'Opium for the Mind'

Shares of Tencent and rivals plummeted after a state-owned Chinese paper criticized online gaming, fueling investor concerns that the companies' popular games could be swept up into a broader regulatory crackdown.

 
Federal Labor Official Recommends Alabama Amazon Workers Hold New Vote, Union Says

A federal official from the National Labor Relations Board recommends that the results be nullified from an earlier vote in which Amazon warehouse workers in Alabama cast ballots against unionizing.

 
BP Raises Dividend, Launches $1.4 Billion Share Buyback

BP said it increased the dividend for the second quarter and launched a $1.4 billion share buyback and reported a net profit of $3.12 billion for the three months to June.

 
Societe Generale Swings to Profit

Societe Generale said it will launch a buyback in the last quarter of the year and improved its guidance for provisions after it swung to a second-quarter profit.

 
BMW Swings to Profit

BMW reported a swing to second-quarter profit and a rise in revenue as the luxury-car maker continued to benefit from strong demand for premium vehicles and good pricing.

 
Sanofi to Buy Translate Bio to Accelerate mRNA-Technology Use

French healthcare major Sanofi has agreed to acquire Translate Bio in a deal that gives the mRNA-therapeutics company a total equity value of around $3.2 billion.

 
Tesla Rival Li Auto Launches $2 Billion Hong Kong Share Sale

Electric-car maker Li Auto kicked off a near-$2 billion stock offering in Hong Kong, joining a string of U.S.-listed Chinese companies in tapping investors closer to home.

 
Standard Chartered Profit Jumps in Second Quarter

The Asia-focused lender's profit jumped 69% in the second quarter, as recovery picked up on easing credit impairments.

 
Ernst & Young to Pay $10 Million to Settle SEC Probe

The accounting firm was investigated for allegedly obtaining confidential information improperly in pursuit of an audit contract.

 
Qantas Furloughs 2,500 Workers Amid Delta Outbreaks

Australia's biggest airline, Qantas Airways Ltd., said it would furlough 2,500 frontline employees for two months in response to outbreaks of the infectious Delta strain of the coronavirus, which has led to lockdowns in multiple Australian cities.

(END) Dow Jones Newswires

August 03, 2021 03:15 ET (07:15 GMT)

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