News Highlights: Top Company News of the Day
14 May 2021 - 5:30AM
Dow Jones News
Canadian National Expected to Sweeten Kansas City Southern Bid
The revised proposal could include a pledge to cover the $700
million breakup fee, according to people familiar with the
matter.
Hear.com Postpones IPO Because of Choppy Stock Market
The hearing-care services provider postponed its initial public
offering over market volatility concerns, according to people
familiar with the matter, the latest company to delay a planned
debut.
Amazon Adding 75,000 Workers
Amazon.com is hiring 75,000 workers and offering $1,000 signing
bonuses in some locations, the latest hiring spree in what has been
a year of tremendous growth.
Alibaba Posts First Loss Since Going Public After Antitrust Fine
The Chinese e-commerce giant's result was hit by a record
antitrust fine imposed by China's market regulator. It said it
plans to invest future profits into warding off competition.
McDonald's Raises Pay for U.S. Restaurant Workers
McDonald's said it would increase pay for employees at
company-owned restaurants in the U.S., one of the latest companies
to bolster wages and benefits as they struggle to hire workers.
Avance Eyes Increase of Debut Fund Cap to $1 Billion
The firm began marketing its debut fund in the midst of the
coronavirus pandemic and was advised to set a lower target of $500
million with an initial cap of $850 million, Mark Evans, principal
investment officer at the Connecticut Retirement Plans and Trust
Funds, said at the pension system's investment advisory council
meeting on Wednesday.
Banks Plan to Issue Credit Cards to People With No Credit Scores
Some of the largest U.S. banks plan to start sharing data on
customers' deposit accounts as part of a government-backed
initiative to extend credit to people who have traditionally lacked
opportunities to borrow.
PayPal Plans to Shift Core Applications to Google Cloud
The migration is part of the digital payments company's ongoing
move to host all its applications in the public cloud.
Yelp Ramps Up Spending on Ad Products to Boost Revenue
Yelp is expanding its advertising tools to help plumbers, movers
and other service providers connect with customers online as the
business-listings company looks to grow after a pandemic
downturn.
SoftBank Pulls Back From Funding 'Nasdaq Whale'
SoftBank is pulling back from an investment unit it set up last
year whose bets on publicly traded technology stocks were so large
they earned the Japanese investor the nickname "Nasdaq whale."
(END) Dow Jones Newswires
May 13, 2021 15:15 ET (19:15 GMT)
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