WeWork to Restate Results Due to Error With Its SPAC Acquirer

WeWork said in a securities filing that it would restate several quarters of results, including its latest quarter's, and that management has concluded there was a material weakness in its internal control.

 
Glaxo Says Antibody Drug Effective Against Omicron

GlaxoSmithKline said that preclinical data shows its Sotrovimab antibody retains its effectiveness against key mutations found in the Omicron coronavirus variant.

 
Novartis Top Drugs to Drive Sales Growth

Novartis said it expects sales to grow at least 4% annually through 2026, fueled by multi-billion dollar sales from its biggest drugs, while several new assets could be approved over that period.

 
Disney Elects Susan Arnold as Board Chairman, Replacing Robert Iger

Ms. Arnold has extensive experience on boards and with consumer goods. Her career included positions at the Carlyle Group and Procter & Gamble.

 
Square Changes Its Name to Block

The name change comes shortly after the company's CEO, Jack Dorsey, stepped down at Twitter and aligns with his interest in bitcoin and blockchain.

 
Bad Bunny, Taylor Swift, BTS Are Spotify's Most-Streamed Artists Globally for 2021

The Swedish company said Bad Bunny received over 9.1 billion streams on its platform, making him its No. 1 streamed artist two years in a row.

 
Twitter CEO Announcement Spotlights Rare Executive Move

Twitter promoted its chief technology officer to chief executive earlier this week. Experts say such a move is rare, although technology skills increasingly are valued in the corner office.

 
Macau Casinos Shut High-Roller Rooms Tied to Arrested Operator

Shares of casino operators tumbled on news of the suspension of Suncity VIP rooms, while the junket operator's leader, Alvin Chau, resigned following his arrest on illegal gambling and money-laundering allegations.

 
Innovid Shares Rise in Market Debut

The advertising tech firm went public Wednesday via a SPAC merger.

 
Match Group Settles Lawsuit Over Tinder's Valuation

The company said it would pay $441 million to plaintiffs, including Tinder's co-founders, who had alleged that Match undervalued the dating app to cheat them out of billions of dollars.

(END) Dow Jones Newswires

December 02, 2021 03:15 ET (08:15 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.