McDonald's to Exit From Russia 

The company will quit Russia and sell its business there, ending more than three decades in the country, over its invasion of Ukraine.

JetBlue to Launch Tender Offer for Spirit 

JetBlue plans to launch a hostile takeover attempt for discount carrier Spirit Airlines, after Spirit rejected JetBlue's $3.6 billion offer in favor of an existing deal with Frontier Airlines.

India's Adani Builds Cement Empire With $10.5 Billion Deal 

The company said the deal, if successful, would be the largest-ever takeover in India's infrastructure-and-materials sector.

India Can't Hang Up on Chinese Smartphones 

In the latest flare-up between the neighboring Asian giants, India and China are clashing over allegations of illegal royalty payments by Chinese cellphone champion Xiaomi-and intimidation by Indian authorities.

CVC Capital Targets Australia's Brambles as Logistics Assets Stay Hot 

The takeover approach for the pallet supplier comes after private-equity firms invested more than $50 billion in logistics last year.

Renault Sells Russia Business to State-Backed Entity for One Ruble 

The French auto maker has reached a deal to cede its 68% stake in AvtoVAZ to a state-backed entity for one ruble and a six-year option to buy back its shares, according to people familiar with the matter-illustrating the limited options that Western firms face in leaving Russia.

Saudi Aramco Posts Record Quarterly Profit on Surging Oil Prices 

The Saudi oil giant said its net income rose 80% in the first quarter of this year, as state-owned oil giants reap profits from an energy-price boom caused by Russia's invasion of Ukraine.

Plains All American to Settle Class-Action Suit Over 2015 California Pipeline Spill 

The owner of an oil pipeline that caused a 4-mile-long spill along a California beach in 2015 has agreed to pay $230 million to settle a class-action lawsuit brought by fishermen and property owners, according to attorneys and court documents.

Behind Fake-Account Issue That Musk Cited in Calling Twitter Deal 'On Hold' 

Social media has grappled with phony accounts for years, raising questions about why Tesla CEO Elon Musk is talking about them again now.

Walmart Anticipates a Store Manager Shortage Despite $200,000-a-Year Pay 

Many managers leading the company's roughly 4,700 U.S. stores have been in their roles for at least a decade, and Walmart executives say they need to find a new generation to replace them.


(END) Dow Jones Newswires

May 16, 2022 07:00 ET (11:00 GMT)

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