News Highlights: Top Company News of the Day
European Travel Just Got Harder After SAS Pilots Strike
Pilots at Scandinavia's main airline walked out, starting a
strike that the carrier said will hobble operations. Separately,
the chief operating officer at European discounter easyJet
SAS Files for Bankruptcy Protection in US
SAS has filed for chapter 11 bankruptcy protection in the U.S.
as it seeks to push through its comprehensive financial
restructuring to cut costs and raise capital under the supervision
of the U.S. court system.
AstraZeneca Unveils TeneoTwo Buy
AstraZeneca has agreed to buy TeneoTwo for up to $1.27 billion
in a deal that strengthens its haematological cancer pipeline.
Rio Tinto Forced to Halt Work on Simandou Iron-Ore Project
Guinean officials have ordered work be stopped on the Simandou
iron-ore project, in which Rio Tinto has a stake, after an extended
deadline to complete negotiations on a joint venture was
China's Covid Isolation Spurs Beijing-Based Development Bank to Open Overseas Office
Abu Dhabi is among the preferred locations for an interim office
of the Asian Infrastructure Investment Bank, according to people
briefed on the matter, as the multilateral lender grapples with
China's strict Covid rules on overseas travel.
China Auto Maker Geely Ventures Into Smartphones
A subsidiary of Zhejiang Geely Holding Group has acquired a 79%
stake in lesser-known Chinese smartphone maker Meizu Technology,
one of China's earliest smartphone makers.
Peter Thiel-Backed Vauld Suspends Withdrawals
The crypto lender backed by Coinbase and Peter Thiel is
exploring a possible restructuring after becoming the latest
cryptocurrency platform to freeze services.
Air Travelers Cope With Busy July Fourth Holiday Weekend
U.S. airports had their busiest day since the Covid-19 pandemic
began, but overall disruptions were less severe than during recent
For Reliance, Russian Oil Has Supercharged Profits
An increase in imports from Russia will help the energy wing at
Reliance Industries continue to notch record refining margins,
despite a new windfall tax on Indian fuel exports.
Little-Known Abortion Pill Maker Faces Scrutiny
The debate over medication abortions draws in the lone U.S.
manufacturer of brand-name mifepristone.
(END) Dow Jones Newswires
July 05, 2022 03:15 ET (07:15 GMT)
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