Nestlé Sells $10 Billion of L'Oréal Shares Back to Beauty Giant 

The maker of Nescafé coffee and Purina petfood said it would sell 22.26 million L'Oréal shares back to the French company, allowing the world's biggest packaged-food maker to capitalize on a rally in the beauty giant's share price.

McDonald's to Back Diverse Restaurant Owners 

The chain said it would offer $250 million in low-interest loans to new franchisees over the next five years as a way to help increase diverse ownership of its U.S. restaurants.

Pfizer Says Booster Neutralized Omicron but Variant May Elude Two Doses 

Pfizer and BioNTech said that a third dose of their Covid-19 vaccine neutralized the Omicron variant in lab tests but that the two-dose regimen was significantly less effective at blocking the virus.

SoftBank Leads $300 Million Investment in Mental-Health Startup Cerebral 

Latest financing for the telemedicine company values it at $4.8 billion.

Southwest Airlines Has Good News on Revenue, Fuel Costs 

The airline said fourth-quarter revenue will be down 10% to 15 % vs. the fourth quarter of 2019, compared with previous estimates of a 15% to 25% fall.

Amazon Outage Disrupts Lives, Surprising People About Their Cloud Dependency 

For many consumers, the blackout was an awakening to how many internet-enabled devices they now have in their homes and how much even some of their most basic daily needs depend on a connection to the cloud.

Brazilian Digital Lender Nubank Set for One of 2021's Biggest IPOs 

Since its founding in 2013, the online bank has disrupted Brazil's big lenders and is planning to expand in Colombia and Mexico and possibly enter healthcare and telecommunications industries.

Lego to Build New Factory in Asia to Meet Rising Demand 

The Danish toy maker is seeking to serve growing demand for its plastic bricks in the region and double down on a supply-chain strategy that held it in good stead through the pandemic.

Richard Branson-Backed SPAC Takes Grove Collaborative Public 

A blank-check company backed by British billionaire Richard Branson's Virgin Group is merging with natural-consumer-products seller Grove Collaborative to take it public in a deal the companies value at $1.5 billion.

Instagram Executive Faces Senate Hearing on Safety 

Adam Mosseri is expected to face questioning on internal research showing that the app can worsen body-image issues for some girls. The hearing will be live streamed on this afternoon.


(END) Dow Jones Newswires

December 08, 2021 11:15 ET (16:15 GMT)

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