News Highlights: Top Company News of the Day
Musk Demands Clarity on Fake Twitter Users for Deal to Go Ahead
The Tesla CEO said his $44 billion deal can't move forward until
the company is clearer about how many of its accounts are fake.
Petronas Chemicals Buys Perstorp in Bid to Diversify Into Specialty Chemicals
Petronas Chemicals Group Bhd. proposed to buy Sweden specialty
chemical company Perstorp Holding AB in a bid to diversify existing
businesses and capture new growth opportunities.
Carlyle's $4.2 Billion ManTech Deal Shows Private Equity's Defense Appetite
Carlyle Group's acquisition of software company ManTech
International suggests that private equity might be getting more
bullish on defense and national-security contractors, research
CVC Shelves Brambles Takeover Plan on Market Volatility
Brambles said that CVC Capital Partners decided against making a
formal takeover proposal for the pallet supplier due to what the
private-equity firm called external market volatility.
KKR to Buy UK's ContourGlobal
UPDATED: KKR has agreed to acquire FTSE 250 power generation
group ContourGlobal for $2.1 billion in cash, with the 263.6 pence
a share price a 36% premium to Monday's close.
Lordstown Motors' Ability to Stay in Business Hinges on Raising Capital, Valuation, CFO Says
The ability of Lordstown Motors to stay in business for at least
another year remains in doubt until it secures more funding and its
market value rises, its finance chief said after the electric-truck
maker sold its factory to raise cash.
FDA Eases Baby-Formula Import Rules to Boost Supplies
Overseas makers will need to apply with the agency to make
shipments to the U.S., and safety and quality checks will
Microsoft Boosts Pay in Fight for Talent
Microsoft's CEO is promising to boost employee compensation amid
continued low unemployment across the U.S. and high inflation.
Vodafone Results in Line But Outllok Cautious
Vodafone delivered adjusted earnings of EUR15.2 billion in
fiscal 2022 on a slight rise in revenue but cautioned that the
macroeconomic climate presented challenges, particularly inflation,
and is likely to hit financial performance in the year ahead.
China Auto Stocks Jump on Hopes That Worst Is Over for Sector
Chinese auto stocks jumped in early trade in Hong Kong amid a
growing hope that the sector may have hit bottom and begin to
rebound as disruptions related to supply chains and the pandemic
begin to ease.
(END) Dow Jones Newswires
May 17, 2022 07:15 ET (11:15 GMT)
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