Deutsche Telekom Nearing Majority Ownership of T-Mobile

The German company could launch a stock buyback once the threshold is reached.

 
Shell Working to Fix Leak That Halted Gulf Output

Shell halted activity at several of its offshore oil production platforms in the Gulf of Mexico due to leaky pipelines, but said it expects to have them fixed by Friday.

 
J&J to Stop Selling Talc-Based Baby Powder Globally Next Year

The company had already stopped selling the product in the U.S. and Canada, citing a decline in customer demand amid safety concerns.

 
Samsung's Jay Y. Lee Receives Presidential Pardon

The company's de facto leader will have his criminal record from his bribery conviction wiped clean, but still has unresolved legal woes related to an accounting scandal.

 
Samsung Sees Galaxy Z Flip 4, Fold 4 as Edge in Smartphone Wars

South Korean company's mobile chief says high-end foldable gadgets are proving better at wooing users of other brands than flagship Galaxy phones.

 
Meditation App Calm Lays Off 20% of Staff

Calm.com, maker of popular meditation and wellness app Calm, has laid off 20% of its staff, according to a memo sent by Chief Executive David Ko to employees.

 
Rivian's Losses Nearly Triple to $1.7 Billion

The electric-vehicle maker said its operating loss is expected to grow to $5.45 billion, from its previous projection of $4.75 billion for the full year, further pressuring the startup to conserve cash and move quickly to fill customer orders.

 
Thai Beverage Defers Singapore IPO of Beer Unit For Second Time

Thai Beverage has decided to defer plans to list its brewery unit in Singapore for a second time as volatile markets continue to crimp investor demand for new shares.

 
ValueAct Takes Stake in New York Times

The activist investor disclosed a 6.7% stake in the news organization and intends to push the media company to more aggressively market subscriber-only content.

 
Warby Parker Cuts Sales Forecast, Corporate Staff as Consumers Delay Purchases

The eyeglasses maker affirmed its plan to open 40 retail locations this year.

(END) Dow Jones Newswires

August 12, 2022 03:15 ET (07:15 GMT)

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