News Highlights: Top Company News of the Day
J&J to Stop Selling Talc-Based Baby Powder Globally Next Year
The company had already stopped selling the product in the U.S.
and Canada, citing a decline in customer demand amid safety
Meditation App Calm Lays Off 20% of Staff
Calm.com, maker of popular meditation and wellness app Calm, has
laid off 20% of its staff, according to a memo sent by Chief
Executive David Ko to employees.
Rivian's Losses Nearly Triple to $1.7 Billion
The electric-vehicle maker said its operating loss is expected
to grow to $5.45 billion, from its previous projection of $4.75
billion for the full year, further pressuring the startup to
conserve cash and move quickly to fill customer orders.
GSK, Sanofi, Haleon Comment on Zantac Lawsuits; Shares Rise
Shares in GSK, Sanofi and Haleon were higher in early trading,
recouping some of the heavy losses of the past few days, after the
companies responded to recent comments related to Zantac litigation
in the U.S.
Deutsche Telekom Nearing Majority Ownership of T-Mobile
The German company could launch a stock buyback once the
threshold is reached.
Shell Working to Fix Leak That Halted Gulf Output
Shell halted activity at several of its offshore oil production
platforms in the Gulf of Mexico due to leaky pipelines, but said it
expects to have them fixed by Friday.
Samsung's Jay Y. Lee Receives Presidential Pardon
The company's de facto leader will have his criminal record from
his bribery conviction wiped clean, but still has unresolved legal
woes related to an accounting scandal.
Samsung Sees Galaxy Z Flip 4, Fold 4 as Edge in Smartphone Wars
South Korean company's mobile chief says high-end foldable
gadgets are proving better at wooing users of other brands than
flagship Galaxy phones.
Thai Beverage Defers Singapore IPO of Beer Unit For Second Time
Thai Beverage has decided to defer plans to list its brewery
unit in Singapore for a second time as volatile markets continue to
crimp investor demand for new shares.
ValueAct Takes Stake in New York Times
The activist investor disclosed a 6.7% stake in the news
organization and intends to push the media company to more
aggressively market subscriber-only content.
(END) Dow Jones Newswires
August 12, 2022 05:00 ET (09:00 GMT)
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