Nestlé Cuts Stake in L'Oréal With $10 Billion Deal 

Nestlé has agreed to cut its stake in L'Oréal by selling $10 billion worth of shares back to the French cosmetics maker, the latest development toward a long-speculated decoupling of two of the world's biggest consumer-goods companies.

China Evergrande Heads Toward Default as It Misses Payment Deadline 

The failure to make payments due on some U.S. dollar bonds Monday, according to people familiar with the matter, potentially sets the stage for a massive default and one of the China's biggest debt restructurings.

Supply-Chain Snags Likely to Persist, Three CEOs Say 

The chiefs of Intel, Wayfair and Accenture each said that the disruptions rippling across the U.S. economy are improving for some companies but that long-term fixes might take much longer.

Facebook Parent to Allow Employees to Delay Return to Offices 

Technology company Meta Platforms plans to fully reopen its U.S. offices in January, though the new program could enable some workers to come back as late as June.

BlackRock to Pull $2 Trillion in Assets From State Street 

State Street was sole custodian for the investing firm's U.S. exchange-traded fund business for more than a decade.

Weibo Shares Fall in Hong Kong Trading Debut 

Shares of Chinese social-media company Weibo Corp. fell in their trading debut in Hong Kong on Wednesday amid a challenging environment for Chinese technology stocks.

TUI Loss Narrows, Sees Bookings  Rebounding 

TUI reported an underlying loss of EUR2 billion for 2021 and said first quarter bookings are expected to be around 60-80% of pre-pandemic levels, with normal business levels seen returning for next summer.

Wynn Names Gambling-Industry Executive as CFO 

Julie Cameron-Doe is set to succeed Craig Billings as the Las Vegas-based casino operator's finance chief next year.

Facebook's Head of Messenger to Leave Company Next Year 

Stan Chudnovsky's resignation is the latest in a series of high-profile departures from the social-media company.

Amazon Emerges as the Wage-and-Benefits Setter for Low-Skilled Workers Across Industries 

In local markets throughout America, the e-commerce giant's facilities have an impact on inflation, job markets and labor standards.


(END) Dow Jones Newswires

December 08, 2021 03:15 ET (08:15 GMT)

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