News Highlights: Top Company News of the Day
Intel to Invest $20 Billion in U.S. Chip-Making Facility
Intel plans to invest at least $20 billion in new chip-making
capacity in Ohio, bolstering its semiconductor-production ambitions
as greater demand for digital products and a global chip shortage
have amplified the need for more manufacturing.
Chinese Developer Country Garden Raises $501 Million
China's largest developer by contracted sales took advantage of
a pickup in investor sentiment toward the property sector to sell
France's Total Exits Myanmar, Citing Shareholder Pressure Since Coup
Western energy companies have faced growing calls to divest or
withhold revenue from the junta as the human-rights situation has
Shares of Chinese Drugmakers Rise on Deal to Make Merck's Covid-19 Pill
Shares of three Chinese drugmakers rose following news they will
be among 27 companies globally to help make cheaper versions of
Merck & Co.'s Covid-19 pill for distribution in low- and
China's Transport Ministry Summons Freight-Delivery Platforms, Warns Ride-Hailing Firms
China's Ministry of Transport has summoned four freight-delivery
platform operators and warned four internet ride-hailing companies
over recent driver complaints, in a sign of continued scrutiny of
the country's massive tech sector after a year-long crackdown.
Peloton Warns of Layoffs, Changes to Production
The company says it is reviewing costs after a report of a
production halt sent its shares tumbling.
Netflix Shares Sink as Company Sees Subscriber Growth Slowing
Netflix said it expects to add a much smaller number of
subscribers this quarter than it did a year ago as it adjusts to
growing competition and lasting disruptions from the coronavirus
pandemic, sending the video streamer's shares down sharply.
Rio Tinto Reviews Serbia Move to Revoke Licenses
Rio Tinto said it was reviewing the legal basis and implications
of a decision by Serbia's government to revoke licenses for the
mining company's lithium project.
Siemens Energy Cuts Outlook on Gamesa Warning
Siemens Energy lowered its financial targets for fiscal 2022
after posting an operating loss in the first quarter and following
a profit warning from its renewables subsidiary.
Siemens Gamesa Warns of Full-Year Loss as Supply Bottlenecks Bite
Siemens Gamesa forecast a possible operating loss for fiscal
2022 after it reported an underlying loss of EUR309 million in the
first quarter on lower revenue, as supply-chain constraints
(END) Dow Jones Newswires
January 21, 2022 07:00 ET (12:00 GMT)
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