Sonos Loses CFO as It Faces Economic Headwinds 

Sonos is losing its chief financial officer as the speaker maker faces economic challenges and has cut its outlook for the fiscal year.

Disney Barely Hedges Its Streaming Bet 

A revised long-term forecast coupled with price hikes means Disney+ still needs to deliver big for the entertainment giant.

Walgreens Helped Fuel San Francisco Opioid Epidemic, Judge Rules 

Pharmacy chain plans to appeal decision, saying it never manufactured or marketed opioids

Bumble Sales Rise on Higher User Spending 

Sales at the online dating company climbed in the latest quarter, driven by higher spending by users as prepandemic conditions have largely returned.

SpaceX Loses Starlink Rural Broadband Subsidies 

The FCC rescinded $2 billion in grants to Elon Musk's company and an internet provider, saying the companies weren't likely to meet funding requirements.

Ex-JPMorgan Traders Convicted in Federal Fraud Trial 

Justice Department had alleged that the precious-metals traders spoofed gold futures for years.

Daimler Truck Full-Year on Target Despite Cost Challenges 

Daimler Truck booked adjusted earnings of just over EUR1 billion in the second quarter and said its financial targets for 2022 remained unchanged, despite the cost challenges.

Hapag-Lloyd Profit Surges But Outlook Uncertain 

Hapag-Lloyd posted a second-quarter net profit of EUR4.5 billion and confirmed its adjusted earnings target, but cautioned that its outlook was clouded by several factors, including rising costs and supply-chain issues.

Deutsche Telekom Up 

Deutsche Telekom reported a 5% rise in second-quarter adjusted earnings and raised its guidance for the second time this year, highlighting the performance at its T-Mobile US business.

Longfor Group Shares Rebound After Stressing On-Time Debt Repayment 

Shares of Longfor Group Holdings Ltd. rebounded in Hong Kong after the Chinese property developer sought to calm fears about its debt repayments.


(END) Dow Jones Newswires

August 11, 2022 03:15 ET (07:15 GMT)

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