What's News: Business & Finance -- WSJ
16 September 2020 - 5:02PM
Dow Jones News
This article is being republished as part of our daily
reproduction of WSJ.com articles that also appeared in the U.S.
print edition of The Wall Street Journal (September 16, 2020).
China's ByteDance would retain a majority ownership stake in its
TikTok app unit as part of a proposal being reviewed by national
security regulators in the U.S.
The FTC is gearing up to file a possible antitrust lawsuit
against Facebook by year-end, according to people familiar with the
matter.
China's economic recovery accelerated in August, with retail
sales returning to pre-coronavirus levels by showing their first
month of growth this year.
The WTO determined that some U.S. tariffs against China broke
international trading rules.
The Trump administration moved to drop tariffs, reimposed just
last month, on Canadian aluminum.
The Justice Department has joined the SEC in examining
allegations that Nikola misled investors by making exaggerated
claims about its technology.
The S&P 500 and Nasdaq rose 0.5% and 1.2%, respectively,
while the Dow inched up 2.27 points.
Apple unveiled a new smartwatch, a virtual fitness service and
bundled subscription options in a muted online event.
Ernst & Young, under fire for missing a suspected fraud at
Wirecard, said auditors should play a bigger role in detecting
wrongdoing.
FedEx reported the highest quarterly revenue in its history, as
residential deliveries surged.
(END) Dow Jones Newswires
September 16, 2020 02:47 ET (06:47 GMT)
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