News Highlights: Top Company News of the Day
McDonald's Tightens Restaurant Ownership Rules as it Looks for New Franchisees
The burger giant adds new standards to owner reviews; "A new
franchise term is earned, not given"
Netflix Lays Off About 3% of Workforce in New Round of Cuts
Netflix is laying off about 300 employees globally following
cuts last month affecting 150 employees, as the streaming service
tries to control costs and drum up new revenue.
Intel Delays Groundbreaking Ceremony for Ohio Plant
The chip maker still plans to build the manufacturing facility,
but expressed frustration with the lack of congressional action on
support for the U.S. semiconductor industry
FDA Bans Juul From Selling E-Cigarettes
U.S. health officials order the vaping pioneer to pull its
products after a two-year review. The company said it intends to
seek a stay of the order, either through the agency's appeals
process or in court.
Klarna's Valuation Set to Slip, Bringing Fintech Star Down to Earth
Some viewed Klarna as the next PayPal Holdings or Block Inc.,
companies that have grown by stealing business traditionally
dominated by banks.
Nike, Cisco are Leaving Russia
Sportswear maker to wind down Russia operations in coming
months; Cisco said it condemns the war against Ukraine
Rite Aid Stock Soars as Revenue Forecast Rises
The pharmacy chain reports a narrower loss than Wall Street
penciled in. Sales rise more than expected.
United Airlines to Cut Newark Flying to Ease Congestion
The airline carrier said it will cut about 50 domestic
departures a day-roughly 12% of its Newark schedule-starting July 1
in an effort to improve operations at the crowded airport.
Netflix Confirms Partnership Talks for Ad-Supported Service
The streaming company is speaking to multiple potential partners
to help it enter the advertising business and may build its own ad
business in the future, Co-Chief Executive Ted Sarandos said.
Toyota Recalls New EV Over Risk Wheels Could Fall Off
The Japanese auto maker is recalling all of its new
battery-powered sport-utility vehicles because of a potential
safety risk regarding its tires.
(END) Dow Jones Newswires
June 23, 2022 15:15 ET (19:15 GMT)
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