State Street Earnings Top Forecasts

State Street posted greater revenue and earnings year over year in the latest quarter as fee-based and interest income both grew.

 
Microsoft Executives Told Bill Gates to Stop Emailing a Female Staffer Years Ago

Microsoft executives in 2008 discovered flirtatious emails between Bill Gates and a female employee that they deemed inappropriate, according to people familiar with the matter. They told the co-founder to stop and briefed some board members, who took no further action, the people say.

 
Toyota, Stellantis to Build EV-Battery Factories in the U.S.

The auto makers are investing billions of dollars in U.S. battery factories as part of a push to sell more electric vehicles.

 
Lawmakers Question Whether Amazon Executives Misled Congress

In a letter to Amazon CEO Andy Jassy, five members of Congress asked for "exculpatory evidence" to corroborate the sworn testimony offered by several company leaders, including founder Jeff Bezos.

 
Goldman Sachs Cleared to Own All of China Unit

Chinese regulators approved Goldman's application to take full ownership of a key local unit, another step in China's gradual opening of its financial system to major players from the U.S. and elsewhere.

 
Facebook to Hire 10,000 Workers in EU to Build Up 'Metaverse'

The social-media company is planning to create the jobs over the next five years to build a virtual realm it sees as a key component of its future and a major driver of new technology investment.

 
Philips Lowers Outlook as Sales Fall 7.6%

Philips has forecast low-single-digit comparable sales growth and a modest adjusted Ebita margin improvement for 2021, with supply-chain challenges which weighed on its third-quarter results expected to continue into the final quarter.

 
Saks E-Commerce Unit Begins IPO Preparations

Saks is interviewing potential underwriters this week for an initial public offering that could take place in the first half of 2022 and targets a valuation of around $6 billion.

 
Amtrak Hopes Infrastructure Bill Will Help Fund a Tunnel to Ease Delays on Northeast Corridor

Amtrak plans to construct a new 2-mile tunnel to replace the aged Baltimore and Potomac tunnel, and it is counting on funding in the roughly $1 trillion infrastructure bill to cover much of the project's $4 billion tab.

 
Facebook Says AI Will Clean Up the Platform. Its Own Engineers Have Doubts.

AI has only minimal success in removing hate speech, violent images and other problem content, according to internal company reports. It can't consistently identify first-person shooting videos, racist rants or gruesome car crashes.

(END) Dow Jones Newswires

October 18, 2021 09:15 ET (13:15 GMT)

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