Microsoft Names CEO Satya Nadella Board Chairman 

Mr. Nadella took over as chief executive in 2014 and helped restore the software giant's fortune in part by betting on the company's cloud-computing business.

CureVac Covid-19 Vaccine Candidate Disappoints in Key Study 

The vaccine was 47% effective in an analysis of a trial, says the company, which attributed the poor performance to variants.

Purdue Pharma Bankruptcy Probe Will Examine Board Committee's Independence 

A New York bankruptcy judge has authorized the appointment of an examiner to review the independence of a Purdue Pharma LP board committee from the Sackler family members who own the OxyContin maker.

Mallinckrodt Prepares to Poll Creditors on Bankruptcy Exit Plan 

Drugmaker Mallinckrodt is preparing to poll creditors on a bankruptcy reorganization plan that proposes settling thousands of opioid lawsuits for $1.6 billion, keeping the company on track to exit chapter 11 later this year.

Blackstone Group Makes $3.05 Billion Offer for Soho China 

Blackstone Group Inc. has made an offer to buy commercial properties operator Soho China for $3.05 billion as the U.S. private-equity firm seeks to build its real-estate investment portfolio in China.

Justice Department Sues to Block Aon Acquisition of Willis Towers Watson 

An antitrust lawsuit alleges insurance broker Aon's proposed $35 billion acquisition of rival Willis Towers Watson would lead to higher prices and stifle innovation.

Royal Caribbean Postpones July Cruise After Crew Members Test Positive for Covid-19 

The delay shows that positive cases on board could disrupt restart plans.

GM Raises Electric-Car Bet 

General Motors said that it will boost spending on electric and autonomous vehicles to $35 billion through 2025, an increase that reflects plans to add two more battery factories in the U.S.

Morgan Stanley Hires Greg Weinberger Away From Credit Suisse 

The investment banker's departure comes as the Swiss bank deals with losses tied to the meltdown of Archegos Capital Management.

Waymo Raises $2.5 Billion in Funding Round 

Alphabet's self-driving affiliate said it wants to continue developing its Waymo Driver autonomous-driving system.


(END) Dow Jones Newswires

June 16, 2021 23:00 ET (03:00 GMT)

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