News Highlights: Top Company News of the Day
Huawei Revenue, Profitability Continue to Slide Amid U.S. Restrictions
Huawei Technologies' revenue fell 5.9% in the first half of the
year compared with a year earlier, as U.S. restrictions continued
to pressure its business.
Five U.S.-Listed Chinese Companies Seek to Delist From NYSE
Five U.S.-listed Chinese companies said they intend to delist
their American depositary shares from the New York Stock Exchange,
as U.S. and Chinese regulators remain at loggerheads over audit
For China's Chip Champion, the Easy Part Is Over
Semiconductor Manufacturing International Corp. was a
beneficiary of the pandemic. Now it must contend with slowing
demand and unstable politics.
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.
China's State-Owned Travel Retailer Returns With Slimmed Down IPO
China Tourism Group Duty Free is planning to raise around $2
billion from a Hong Kong initial public offering, returning to the
market after pulling a deal at the end of last year.
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.
(END) Dow Jones Newswires
August 12, 2022 07:00 ET (11:00 GMT)
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