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The Latest Breaking News from Wall Street Journal

Uber, Lyft Drivers Lock Horns With Riders Over Mask Mandate: WSJ

A new crisis challenges the ride-sharing companies like Uber Technologies Inc (NYSE:UBER) and Lyft Inc (NASDAQ:LYFT) as the states lift mask mandates, the Wall Street Journal reports. The companies require the riders to continue wearing masks. However, drivers find it challenging to remain masked as the local governments push for a widespread reopening. The U.S.…

Meta Axes Google Veteran Heading Insta For Kids; Project Remains Halted

Meta Axes Google Veteran Heading Insta For Kids; Project Remains Halted

Meta Platforms Inc's (NASDAQ:FB) VP of youth Pavni Diwanji departed as part of a restructuring, the Wall Street Journal reports. Diwanji supervised Instagram's development of a controversial product for children. Diwanji previously served as a VP at Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, where she led YouTube kids and other family-oriented projects. Adam Mosseri, head…

US Lawmakers Urge DOJ To Probe Amazon: WSJ

US Lawmakers Urge DOJ To Probe Amazon: WSJ

A U.S. congressional committee urged the Justice Department to investigate Amazon.com Inc (NASDAQ:AMZN) for potential criminal obstruction of Congress, the Wall Street Journal reports. The committee alleged Amazon's refusal to disclose information as part of its investigation into Amazon's competitive practices. Amazon allegedly attempted to cover up a lie that Amazon told lawmakers…

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TikTok Is Having A Hard Time Coping Up With Russia-Ukraine Crisis

ByteDance Ltd's TikTok grappled internally amid aggravating tensions between Russia and Ukraine, the Wall Street Journal reports.

Tesla Chief Wants To End 2018 Fraud Settlement With SEC: WSJ

Tesla Inc (NASDAQ:TSLA) CEO Elon Musk requested a federal judge to discard a settlement he reached with SEC regulators in 2018, the Wall Street Journal reports. The settlement sought the preapproval of some of Musk's tweets. Musk's lawyers argued that Twitter Inc's (NYSE:TWTR) oversight policy became ineffective, while the SEC has abused the deal, which…

Gannett Hoodwinked Advertisers For Nine Months: WSJ

Gannett Co Inc (NYSE:GCI), owner of USA Today, misguided advertisers with inaccurate information for nine months, the Wall Street Journal reported. Gannett owns news outlets in 46 U.S. states, from the Arizona Republic to the Detroit Free Press, to the Palm Beach Post, and sells ad space through digital auctions. Gannett misguided…

DOJ, SEC Investigate Possible Insider Trading Violation On Microsoft-Activision Deal: WSJ

Federal prosecutors and securities regulators are investigating three men with an unrealized profit of ~$60 million on the options trade, betting on Microsoft Corp's (NASDAQ:MSFT) acquisition of Activision Blizzard Inc (NASDAQ:ATVI), the Wall Street Journal reports. The Justice Department investigated for possible violation of insider-trading law by the options trades violated insider-trading laws. The SEC…

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Unilever, Kraft Heinz Suspend Exports, Investments In Russia

Unilever, Kraft Heinz Suspend Exports, Investments In Russia

Food and beverage company Kraft Heinz Co (NASDAQ:KHC) has suspended all new investments in Russia and also all imports and exports of products. Kraft Heinz said it continues to closely assess the humanitarian crisis in Ukraine. Consumer goods giant Unilever PLC (NYSE:UL) has halted all imports and exports of its products in Russia in addition to…

Uber Stock Rallies, But Barely Clings To Support: What's Next?

Uber Stock Rallies, But Barely Clings To Support: What's Next?

Uber Technologies Inc. (NYSE: UBER) shares were trading higher Tuesday following a Wall Street Journal report indicating the company is launching a campaign to head off Democratic efforts to classify its workers as employees, which would allow them to form unions.

This Carbon Solutions Firm Looks To Go Public Via $2.2B SPAC Merger With AMCI

This Carbon Solutions Firm Looks To Go Public Via $2.2B SPAC Merger With AMCI

LanzaTech NZ Inc looks to go public via a special purpose acquisition company (SPAC) AMCI Acquisition Corp II (NASDAQ:AMCIW), the Wall Street Journal reports. The SPAC deal values the carbon-capture and transformation company at ~$2.2 billion. LanzaTech traps carbon emitted during industrial processes and uses bacteria to convert the waste gas into sustainable…

Uber Et al Campaign Against Democrat's Efforts To Classify Gig Workers As Employees

Uber Et al Campaign Against Democrat's Efforts To Classify Gig Workers As Employees

A string of companies using independent contractors as drivers launched a campaign to head off Democratic efforts to classify their workers as employees, allowing them to form unions, the Wall Street Journal reports. The companies include Uber Technologies Inc (NYSE:UBER), Lyft Inc (NASDAQ:LYFT), DoorDash Inc (NYSE:DASH), GrubHub Inc (NASDAQ:GRUB), and others. The companies aim to spend over $1 million…

Estee Lauder To Close All Stores In Russia - Report

Estee Lauder To Close All Stores In Russia - Report

Estee Lauder Companies Inc (NYSE:EL) is suspending all its commercial activities in Russia following the Ukraine crisis, the Wall Street Journal reported. The company will close all stores it owns in Russia and stop shipping products to retailers in the country. Estee Lauder gets roughly 2.7% of its revenue from Russia, and…

Boeing And Airbus's Paths Diverge On Buying Titanium From Russia — Will The Supply Woes Worsen?

Boeing And Airbus's Paths Diverge On Buying Titanium From Russia — Will The Supply Woes Worsen?

Boeing Co (NYSE: BA) has suspended buying titanium from Russia since the country invaded Ukraine, The Wall Street Journal reported on Monday, citing a spoke

US Officials Say Russia Recruiting Syrians to Fight in Ukraine

US Officials Say Russia Recruiting Syrians to Fight in Ukraine

Russia is recruiting Syrian fighters experienced in urban combat as it ramps up its assault on Ukraine, according to US officials quoted by the Wall Street Journal on Sunday. Moscow, which launched an invasion into its Eastern European neighbor on February 24, has in recent days recruited fighters from Syria…

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US DOJ Probes Poultry Companies Over Employment Practices: Report

The Justice Department in the U.S. has launched an investigation into whether poultry companies have engaged in anticompetitive sharing about employment practices, the Wall Street Journal reported. The move adds to the scrutiny that U.S. meat processors face from the government and their workers for holding down wages. The report noted…

Here's Why Splunk Shares Are Soaring Today

Private-equity firm Hellman & Friedman LLC acquired a 7.5% stake in Splunk Inc (NASDAQ:SPLK) worth about $1.4 billion. The Wall Street Journal reports that Hellman & Friedman started buying the stake in mid-late December after Splunk shares plunged when the company's former CEO resigned following several quarters of disappointing results. The stake would make Hellman & Friedman…

Here's Why Online Publishers Are Ditching Google

Multiple leading online publishers look to ditch Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google's Accelerated Mobile Pages program to optimize readers' mobile-browsing experience, the Wall Street Journal reports. Media executives admitted that dropping AMP would give them more control over their page designs and ad formats, and make it easier to sell ad space in…

Microsoft Security Chief Stresses On Importance Of Combating Cyberattacks Through Cloud Adoption

Microsoft Corp's (NASDAQ:MSFT) new security chief, Charlie Bell, emphasized the importance of solving cyberattacks by embracing cloud, the Wall Street Journal reports. Microsoft has built a $15 billion business and one of the world's most enormous private cyber armies to counter cyberattacks. WSJ notes that U.S. banks flagged nearly $600 million in…

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"The New Due Process: Fairness in a Fee-Driven State"

An interesting and important new article by Profs. Glenn Harlan Reynolds (InstaPundit) and Penny White, both of the University of Tennessee College of Law (see also this Wall Street Journal piece, excerpted without a paywall here): Many municipalities have chosen to use the criminal justice system as a revenue-extracting tool.…

Microsoft's Activision Acquisition Triggers Regulatory Subpoenas Over Workplace Harassment

The Wall Street Journal reports that federal and state regulators have broadened their investigations into Activision Blizzard Inc's (NASDAQ:ATVI) leadership role in handling workplace misconduct claims. State watchdog, The California Department of Fair Employment and Housing subpoenaed Activision's directors over its workplace issues. It also has subpoenaed police departments in the Los Angeles area…

Here's Why Activist Investor Daniel Loeb Sees ~$1 Trillion Untapped Value In Amazon

The Wall Street Journal reports that activist investor Daniel Loeb sees about $1 trillion in untapped value at Amazon.com Inc (NASDAQ:AMZN). Loeb's Third Point LLC counts the e-commerce major as one of its most significant holdings. Third Point, as of the end of 2021, had an Amazon stake valued at $784 million. The fund…

Here's Why Magnite, Digital Turbine, Trade Desk Shares Are Trading Lower Today

Shares of adtech companies fell on Wednesday morning on a report that Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google will stop cross-app tracking on Android phones, following a similar move by Apple Inc (NASDAQ:AAPL). "We don't think there should be a forced choice between privacy and developers building their business," Anthony Chavez, VP of product management for Android…

From 'Facebook' To 'Meta,' 'Facebookers' To 'Metamates' - Mark Zuckerberg Talks About The Future

Meta Platforms Inc (NASDAQ:FB) founder Mark Zuckerberg offered his vision for a corporate culture that will “build awesome things,” “live in the future,” and be run by employees whom he called ‘metamates.’ Zuckerberg said that Meta would build off the core values written in 2007 but adapt them for the future. “Meta, Metamates,…

Why Is Facebook Parent Meta's Stock Trading Lower Today?

Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google looks to adopt new privacy restrictions to curtail tracking across apps on Android smartphones. Google’s plans for Android could drive an end to more than a decade of advertising practices across smartphones, the Wall Street Journal reports. The move would affect companies, including Meta Platforms…

Did Umbilical Cord Blood Transplant Help Cure A Woman's HIV infection?

A woman in the New York City area appears to have been cured of an HIV infection, Wall Street Journal reported, provid

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