News Highlights: Top Company News of the Day
Facebook's Cryptocurrency Venture to Wind Down, Sell Assets
The Diem Association, formerly known as Libra, is selling its
technology to crypto-focused bank Silvergate Capital for $200
Tesla Supplier LG Energy Surges on Trading Debut
Shares in LG Energy Solution jumped on their first day of
trading, after the world's No. 2 maker of electric-vehicle
batteries raised about $10.6 billion in South Korea's largest-ever
initial public offering.
Samsung's Fourth-Quarter Revenue Is Best Ever
The South Korean company's strong performance capped off a year
in which it surpassed Intel to become the world's No. 1 chip
China Evergrande Promises to Play by the Book in Debt Restructuring
The developer said that within six months, it aims to release a
global restructuring plan that would respect offshore creditors'
rights, after a group of bondholders threatened to sue the company
for failing to engage with them.
Australia's Woodside to Withdraw From Myanmar
Woodside Petroleum said it will withdraw from Myanmar amid a
deteriorating human-rights situation after a state of emergency was
imposed by the military when it overthrew the country's elected
government last year.
Tesla Is a Proven Automaker, an Unproven Tech Giant
Elon Musk's company has shown it can generate cash selling
electric vehicles, but its valuation depends on much more.
Amazon Faces Unionization Battle in Staten Island
The National Labor Relations Board says the nascent Amazon Labor
Union has enough support from workers to hold an election for a New
William Ackman Takes Stake in Netflix
The billionaire says his hedge fund has purchased more than 3.1
million shares of the streaming service, whose stock has slumped
Whirlpool Says Omicron Will Keep Appliances in Short Supply
Washing machines, refrigerators and other appliances are likely
to remain hard to get this year as Covid-19 infections fuel supply
chain problems, Whirlpool's chief executive said.
BJ's Wholesale Is Buying Up Distribution Centers
The acquisition from distribution services provider Burris
Logistics marks the latest move by retailers to take over
management of their supply chains.
(END) Dow Jones Newswires
January 26, 2022 23:15 ET (04:15 GMT)
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