News Highlights: Top Company News of the Day
December 08 2021 - 3:30AM
Dow Jones News
Nestlé Cuts Stake in L'Oréal With $10 Billion Deal
Nestlé has agreed to cut its stake in L'Oréal by selling $10
billion worth of shares back to the French cosmetics maker, the
latest development toward a long-speculated decoupling of two of
the world's biggest consumer-goods companies.
China Evergrande Heads Toward Default as It Misses Payment Deadline
The failure to make payments due on some U.S. dollar bonds
Monday, according to people familiar with the matter, potentially
sets the stage for a massive default and one of the China's biggest
debt restructurings.
Supply-Chain Snags Likely to Persist, Three CEOs Say
The chiefs of Intel, Wayfair and Accenture each said that the
disruptions rippling across the U.S. economy are improving for some
companies but that long-term fixes might take much longer.
Facebook Parent to Allow Employees to Delay Return to Offices
Technology company Meta Platforms plans to fully reopen its U.S.
offices in January, though the new program could enable some
workers to come back as late as June.
BlackRock to Pull $2 Trillion in Assets From State Street
State Street was sole custodian for the investing firm's U.S.
exchange-traded fund business for more than a decade.
Weibo Shares Fall in Hong Kong Trading Debut
Shares of Chinese social-media company Weibo Corp. fell in their
trading debut in Hong Kong on Wednesday amid a challenging
environment for Chinese technology stocks.
TUI Loss Narrows, Sees Bookings Rebounding
TUI reported an underlying loss of EUR2 billion for 2021 and
said first quarter bookings are expected to be around 60-80% of
pre-pandemic levels, with normal business levels seen returning for
next summer.
Wynn Names Gambling-Industry Executive as CFO
Julie Cameron-Doe is set to succeed Craig Billings as the Las
Vegas-based casino operator's finance chief next year.
Facebook's Head of Messenger to Leave Company Next Year
Stan Chudnovsky's resignation is the latest in a series of
high-profile departures from the social-media company.
Amazon Emerges as the Wage-and-Benefits Setter for Low-Skilled Workers Across Industries
In local markets throughout America, the e-commerce giant's
facilities have an impact on inflation, job markets and labor
standards.
(END) Dow Jones Newswires
December 08, 2021 03:15 ET (08:15 GMT)
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