News Highlights: Top Company News of the Day
October 07 2022 - 9:15AM
Dow Jones News
Ambac Settles With Bank of America for $1.84 Billion
Ambac Financial and Bank of America have resolved longstanding
litigation related to residential mortgage-backed securities with a
$1.84 billion settlement.
Memory Chip Makers Struggle With Declines in Demand, Price
Memory chips provide a key barometer of health for the
semiconductor industry, which is reckoning with a sudden shift from
pandemic strength to an abrupt drop-off in demand.
Meta's Virtual Reality Meets Facebook's Harsh Real World
The social network is in cost-cutting mode ahead of its huge
investment in the metaverse.
Credit Suisse Launches Bond Buyback
Credit Suisse said it will spend around $3 billion to buy back
senior bonds to save on interest payments as it prepares to reshape
itself as a smaller and safer bank.
Twitter-Musk Judge Postpones Trial as Deal Talks Stall
The surprise ruling, granting a request by Elon Musk,
effectively ends negotiations and adds fresh uncertainty to efforts
to close the $44 billion deal. Mr. Musk now has until Oct. 28 to do
so.
Cancer-Detecting Blood Tests Behind Illumina's $7.1 Billion Antitrust Battle Gain Ground
Tests from Grail and others aim to help clinicians diagnose more
cancers earlier, though data are limited.
Samsung Expects Profit to Slump
Memory-chip and smartphone businesses are feeling the effects of
curbed consumer spending on tech products.
AMD's Revenue Warning Is Dissected by Wall Street. It's Not All Bad News.
Advanced Micro Devices issues a revenue warning and Samsung
Electronics posts a 32% drop in third-quarter operating profit.
Binance Estimates $100 Million Was Stolen in Blockchain Hack
Crypto exchange Binance said late Thursday that $100 million was
likely stolen as a result of a hack on its Binance Smart Chain
blockchain network.
Tesla Aims to Deliver First Semitrailer Trucks in December to PepsiCo
Elon Musk said the truck can travel 500 miles on a single
charge
(END) Dow Jones Newswires
October 07, 2022 09:00 ET (13:00 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.