Musk Calls Tesla's New Factories 'Gigantic Money Furnaces' 
 

The electric-car maker's plants in Germany and Texas are losing billions of dollars, CEO Elon Musk said.

 
Revlon Stock Surges After Bankruptcy Filing 
 

Cosmetics maker's shares up more than 30% in Wednesday's trading as options activity takes off

 
BMW Opens Electric-Car Plant in China 
 

The $2.2 billion investment in the plant is the biggest that BMW has ever made in China, its largest market.

 
Monte dei Paschi Plans Cash Call to Fund Revamp 
 

Italy's Banca Monte dei Paschi di Siena said it would raise up to EUR2.5 billion, cut thousands of jobs and close dozens of branches as part of its multiyear plan to boost its balance sheet.

 
Chinese Shipping Companies Dive Amid Rising Recession Fears 
 

Chinese shipping companies' shares dropped in Hong Kong on Thursday, following the U.S. Federal Reserve's overnight warning of a potential economic contraction, which could weigh on U.S. demand for imported goods and consequently global shipping activity.

 
Rolls-Royce Offers $2,500 Payment to Workers as Inflation Bites 
 

Companies are weighing how to help employees deal with inflation without boosting costs in the long run.

 
NBCUniversal, Google Compete to Help Netflix Build Ad-Backed Tier 
 

The streaming company is seeking to sell ads around its programming to boost revenue. Partnerships could help it move faster to bring an ad-supported version of its service to market.

 
L Catterton to Sell Various Asia Interests for $360 Million 
 

Private equity company L Catterton will sell minority interests in some of its portfolio investments in Asia to accounts managed by Hamilton Lane and other institutional investors for $360 million.

 
U.K. Regulator Fines JLT Specialty $9.7 Million for Bribery 
 

JLT Specialty, now part of Marsh & McLennan, had failed to manage risks effectively, allowing more than $3 million in bribes to be paid to foreign government officials, according to the U.K. Financial Conduct Authority.

 
Daily Harvest Recalls Lentil and Leek Crumbles After Customers Report Getting Sick 
 

"We are taking this very seriously and doing everything we can to get to the bottom of this," the CEO of the meal-delivery service said.

(END) Dow Jones Newswires

June 23, 2022 05:00 ET (09:00 GMT)