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 Revenue as Order Backlog Grows 

The heavy-equipment maker's quarterly revenue rose 23%, but supply-chain challenges meant it fell further behind on orders.

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 equities traders.

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 13:15 ET (18:15 GMT)

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