Facebook's Cryptocurrency Venture to Wind Down, Sell Assets

The Diem Association, formerly known as Libra, is selling its technology to crypto-focused bank Silvergate Capital for $200 million.

 
Tesla Supplier LG Energy Surges on Trading Debut

Shares in LG Energy Solution jumped on their first day of trading, after the world's No. 2 maker of electric-vehicle batteries raised about $10.6 billion in South Korea's largest-ever initial public offering.

 
Samsung's Fourth-Quarter Revenue Is Best Ever

The South Korean company's strong performance capped off a year in which it surpassed Intel to become the world's No. 1 chip maker.

 
China Evergrande Promises to Play by the Book in Debt Restructuring

The developer said that within six months, it aims to release a global restructuring plan that would respect offshore creditors' rights, after a group of bondholders threatened to sue the company for failing to engage with them.

 
Australia's Woodside to Withdraw From Myanmar

Woodside Petroleum said it will withdraw from Myanmar amid a deteriorating human-rights situation after a state of emergency was imposed by the military when it overthrew the country's elected government last year.

 
Tesla Is a Proven Automaker, an Unproven Tech Giant

Elon Musk's company has shown it can generate cash selling electric vehicles, but its valuation depends on much more.

 
Amazon Faces Unionization Battle in Staten Island

The National Labor Relations Board says the nascent Amazon Labor Union has enough support from workers to hold an election for a New York warehouse.

 
William Ackman Takes Stake in Netflix

The billionaire says his hedge fund has purchased more than 3.1 million shares of the streaming service, whose stock has slumped this year.

 
Whirlpool Says Omicron Will Keep Appliances in Short Supply

Washing machines, refrigerators and other appliances are likely to remain hard to get this year as Covid-19 infections fuel supply chain problems, Whirlpool's chief executive said.

 
BJ's Wholesale Is Buying Up Distribution Centers

The acquisition from distribution services provider Burris Logistics marks the latest move by retailers to take over management of their supply chains.

(END) Dow Jones Newswires

January 26, 2022 23:15 ET (04:15 GMT)

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