News Highlights: Top Company News of the Day
Elliott Management to Sell Stake in Hong Kong Bank, Ending Activist Campaign
Bank of East Asia Ltd. said it has agreed to buy all the shares
held by U.S. activist hedge fund Elliott Management Corp. for the
equivalent of about $373 million, ending its long-running battle
with an activist shareholder.
Construction Demand Lifts Caterpillar Profit as Order Backlog Grows
Ongoing supply-chain challenges lead machinery company to fall
behind on more orders; quarterly sales rose 23%.
Tesla's Car-Karaoke Mic in China Sells Out on First Day
EV maker introduces TeslaMic and a software update that includes
karaoke tracks and videos, as it tries to catch up with local
rivals in the carpool karaoke competition.
Chevron Rakes in $15.6 Billion in Annual Profits as Oil Prices Climb
The oil giant had a dramatic turnaround in 2021, as fossil fuel
demand recovered from pandemic-induced lows.
Citigroup Fined for Misconduct in Asian Stock Trading
Hong Kong's Securities and Futures Commission says its
investigation found "pervasive dishonest behavior" among the bank's
Fashion Brands Hope Covid Will Banish End-of-Season Sales
Bargain hunters may have noticed stingy discounts on clothing
this year. Fashion chains would like the trend to stick, although
this will be challenging as inflation bites.
Ukraine Tensions Hit Deal Talks Between Italian, Russian Lenders
Italy's UniCredit pulled out of talks to take over Russian
lender Otkritie, one of the first instances where tensions over
Ukraine have run into corporate deal making.
Elon Musk's Decision to Slow New Tesla Models Risks Holding Up Growth
The CEO said the company doesn't plan to introduce any new
vehicle models in 2022.
Apple Takes Smartphone Lead in China, Helping Drive Record Profit
Apple's latest record holiday quarter came in part because of
excitement for the iPhone 13 in China, where homegrown Huawei has
seen a decline in its market share following U.S. sanctions.
Google to Invest Up to $1 Billion in Deal With India's Bharti Airtel
The investment is part of Google's efforts to build its presence
in one of the world's last great untapped digital markets.
(END) Dow Jones Newswires
January 28, 2022 11:15 ET (16:15 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.