Justice Department Probes Visa's Fintech Relationships

Antitrust investigators are scrutinizing financial incentives Visa gave to Square, Stripe and PayPal.

 
Rent the Runway Jumps in Public Market Debut

The clothing-rental company had 112,000 active subscribers at the end of September, compared with 134,000 at the end of 2019.

 
Third Point Urges Shell to Split After Taking Big Stake

The activist hedge fund, with a stake worth well over $500 million, is pushing the oil giant to separate into two companies to attract investors as many flee stocks seen as environmentally unfriendly.

 
Facebook Faces FTC Probe Over Its Internal Research

Federal Trade Commission staffers have begun looking into disclosures that Facebook's internal company research had identified ill effects from its products, according to people familiar with the matter.

 
Spotify Ad Business Boosted by Podcasts

Spotify's big podcast bet appears to be paying off, with third-quarter advertising revenue up 75% from a year earlier and user growth picking up after a lull earlier this year.

 
Hertz Links Up With Uber to Offer 50,000 Tesla Rentals

The deal comes days after Hertz, which has emerged from pandemic-induced bankruptcy, said it was making a significant investment in an electric-vehicle rental fleet.

 
McDonald's Raises Menu Prices as U.S. Worker Wages Climb

The burger giant says it is trying to keep pace with rapidly growing costs, with wages alone up at least 10% so far this year at U.S. restaurants.

 
Neiman Marcus Sales Show Rebound From 2019 Levels

The luxury department-store operator privately reported quarterly earnings to bondholders that control the company, saying sales rose from 2019 levels at both its 44 physical stores and online.

 
GM Profit Sinks as Chip Shortage Takes Toll

The Detroit auto maker, reporting record pricing and a lucrative mix of higher-profit SUVs and trucks, said its full-year profit would finish at the high end of its prior estimate.

 
Boeing Loss Driven by Dreamliner, Space Problems

The plane maker had a net loss of $132 million, as 787 Dreamliner production problems and its latest space-launch setback offset a recovery in demand for new aircraft.

(END) Dow Jones Newswires

October 27, 2021 15:15 ET (19:15 GMT)

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