News Highlights: Top Company News of the Day
August 11 2022 - 7:15PM
Dow Jones News
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.
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
concerns.
Deutsche Telekom Nearing Majority Ownership of T-Mobile
The German company could launch a stock buyback once the
threshold is reached.
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.
Warby Parker Cuts Sales Forecast, Corporate Staff as Consumers Delay Purchases
The eyeglasses maker affirmed its plan to open 40 retail
locations this year.
Cardinal Health CEO Steps Down
Chief Executive Officer Mike Kaufmann is leaving the healthcare
products distributor as it struggles with the impact of inflation
and supply-chain constraints.
McDonald's to Reopen Some Restaurants in Ukraine
The fast-food chain had closed its operations in the country in
February after Russia's invasion.
SEC Investigating Melvin Capital Management
The regulatory agency is asking about the hedge fund's risk
controls and disclosures following meme-stock losses last year.
Walgreens Offers Bonuses Up to $75,000 to Recruit Pharmacists
Thousands of the drugstore chain's locations operate with
reduced pharmacy hours due to a pharmacist shortage.
Sears and creditors reach $175 million deal with Eddie Lampert to settle litigation over allegations of self-dealing
After four years stuck in bankruptcy limbo, Sears Holdings and
its creditors have reached a settlement with former Chief Executive
and majority shareholder Eddie Lampert and other investors,
clearing the path for the once-storied retailer to execute its
bankruptcy plan.
(END) Dow Jones Newswires
August 11, 2022 19:00 ET (23:00 GMT)
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