News Highlights: Top Company News of the Day
House Bills Seek to Break Up Amazon and Other Big Tech Companies
Lawmakers proposed a raft of bipartisan legislation aimed at
reining in Big Tech, including a bill that seeks to make the
e-commerce giant and others split into two companies or shed some
of their products and services.
AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders
Mudrick Capital's flagship fund lost 10% in just a few days,
highlighting how risky retaining significant exposure to such
stocks can be.
FDA Approves Export of Covid-19 Vaccine Doses From Troubled Plant
The agency said 10 million doses produced at the factory can be
exported, but that 60 million doses were at risk of contamination
and can't be used.
Boeing Offloads Unclaimed MAX Jets as Travel Recovers
The recovery in domestic air travel is helping the plane maker
find new homes for jets whose original buyers walked away or
collapsed during the pandemic.
Burberry's Stricter Climate-Change Target Puts Suppliers in the Spotlight
The luxury brand aims to nearly halve carbon-dioxide emissions
across its supply chain in the next decade, tightening its previous
goal of a 30% drop.
BP Considers Spinning Off Iraq Operations
Oil giant weighs whether to move its interest in the giant
Rumaila oil field into a stand-alone company as it tries to pivot
toward lower-carbon energy.
McDonald's Hit by Data Breach
The hack exposed some U.S. business information and customer
data in South Korea and Taiwan, the company said.
Saudi Aramco Borrows Again to Fund Dividend Pledge
The return to the global debt markets demonstrated the oil
giant's need to raise cash despite high energy prices, as it issued
its inaugural dollar-denominated Islamic bond to meet a dividend
pledge and complete a costly acquisition.
Philip Morris Is Buying Back Stock, and More Reasons the Price Can Keep Climbing
The company plans a three-year buyback program of $5 to $7
billion. Piper Sandler analyst Michael Lavery reiterated an
Overweight rating on the stock.
PG&E Warns of More Blackouts During California's Wildfire Season
The state's largest utility said a new shut-off criteria and
California's dry weather conditions could lead to more power cuts
than in 2020, especially if seasonal winds are as strong as they
have been in recent years.
(END) Dow Jones Newswires
June 11, 2021 19:15 ET (23:15 GMT)
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