News Highlights: Top Company News of the Day
Oh, Snap, There Goes Social's Online-Ad Biz
A profit warning from the parent company of social platform
Snapchat hit Meta, Pinterest, Twitter, Alphabet and even
Samsung to Invest About $356 Billion Over Next Five Years
Samsung Group will invest about $356 billion over the next five
years in its semiconductor and biopharmaceuticals businesses, as
well as other next-generation technologies, where global
competition is intensifying.
Air France-KLM Launches Rights Issue to Repay State Aid
Air France-KLM has raised EUR2.3 billion via a capital increase,
with the proceeds used to repay the bonds held by the French state
and to strengthen its balance sheet.
Snap Issues Profit Warning, Slows Hiring
Shares in the social-media company fell sharply in off-hours
trading after it issued the profit warning.
Zoom Sales Growth Slows as Pandemic Boom Wanes
The videoconferencing company said sales rose 12% in its first
quarter, the slowest growth rate on record, but it raised the
profit outlook for the year.
Airbnb to Quit China Business Amid Lockdowns, Competition
The home-sharing company plans to shut its domestic operations
in the country, but continue to serve Chinese travelers booking
Broadcom Weighs Paying $60 Billion for VMware
The chip maker is in talks to pay around $140 a share for the
software company, people familiar with the matter said. The
companies aim to announce the cash-and-stock deal Thursday.
Zuckerberg Is Sued by D.C. Attorney General
The case marks the second time Washington, D.C.'s Karl Racine
has pursued legal action against the Facebook founder over
practices that led to the Cambridge Analytica data breach.
Great Wall, Geely Rise on Tax-Cut Plan
Shares of several Chinese auto makers were up in early trade
following reports that Beijing plans to cut taxes on some passenger
vehicles in a bid to boost economic activity.
Pushpay Talking With Multiple Parties Amid BGH-Sixth Street Interest
Pushpay Holdings is in early-stage talks with multiple parties
interested in a potential acquisition of the tithing app, but it
hasn't entered into any agreement with the two investment companies
cooperating on an acquisition approach.
(END) Dow Jones Newswires
May 24, 2022 07:15 ET (11:15 GMT)
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