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Biden Administration Shelves Plan to Ban Menthol Cigarettes
The White House is reversing course after weighing the health benefits of the ban against the political risk of angering Black voters.Business - Joe Biden -
Paramount Considers Removing CEO Bob Bakish
The board is considering installing a committee of top executives to run the company on an interim basis as turmoil over sale talks deepens.Business -
U.S. Regulators Tie Tesla's Autopilot to More Than a Dozen Fatalities, Hundreds of Crashes
The NHTSA launched a new probe into the adequacy of a two-million vehicle recall in December, after discovering more crashes linked to the controversial technology.Business -
Warren Buffett's Real-Estate Firm Settles Antitrust Matter for $250 Million
The real-estate industry has now agreed to pay nearly $1 billion to settle anticompetitive allegations.Business -
Anglo Rejects BHP's $39 Billion Bid
The London-listed mining giant said the bid “significantly undervalues” the company, setting the stage for a potential bidding war.Business -
NatWest's Results Beat Views on Improving Customer Confidence
NatWest’s income and profit fell by less than expected in its first quarter, reflecting an improvement in customer confidence and activity and pushing shares to their highest price in more than a year.Business -
Washington's Telecom Cop Seeks New Beat: Cybersecurity
The FCC’s net-neutrality rules argue for a more active role defending cable and wireless networks from online threats.Business -
Exxon, Chevron Earnings Fall Back to Earth
The oil companies are still printing big profits, but their postpandemic run of record earnings is slowing down.Business -
Apollo Global to Buy U.S. Silica in $1.85 Billion Deal
U.S. Silica Holdings has agreed to be taken private by Apollo Global Management in a deal that gives the industrial minerals company an enterprise value of roughly $1.85 billion.Business -
China to Pay Consumers Up to Nearly $1,400 to Replace Old Cars
China plans to give car owners up to nearly $1,400 to replace their old cars with new ones, a move to boost slowing demand in the world’s largest electric-vehicle market.Business - China -
Thoma Bravo to Buy U.K. Cybersecurity Firm Darktrace
Private equity firm Thoma Bravo said it plans to buy Darktrace in a cash deal that values the U.K. cybersecurity company at around $5 billion.Business - United Kingdom -
TotalEnergies Plans $2 Billion Buyback After Profit Beat
TotalEnergies reported higher-than-expected profits in the first three months of the year and said it would buy back $2 billion of shares this quarter.Business -
Thyssenkrupp Offloads Stake in Steel Business
Thyssenkrupp has agreed to sell a 20% stake in its steel business to Czech billionaire Daniel Kretinsky’s EP Corporate Group for an undisclosed sum, settling on a partial divestment after yearslong efforts to dispose of it.Business -
CVC Soars in of Amsterdam Trading Debut
CVC shares rose 24% on the first day of trading on Amsterdam’s stock exchange, after the buyout firm priced its IPO at the mid point of its previously guided range, implying a market capitalization of $15 billion.Business -
Remy Cointreau Lifted by China Improvement
Remy Cointreau posted fourth-quarter sales slightly ahead of views, as it saw a better-than-expected performance in China, but continued to destock in the U.S.Business - China -
Traton First Quarter Beats Forecasts Despite European Slowdown
Traton posted above-forecast results for the first quarter, thanks to stronger pricing and market growth in South America and despite slower momentum in Europe.Business -
SKF Warns of Lower Sales
SKF said it expected a mid-single digit fall in sales in the second quarter, with market volatility and geopolitical uncertainty continuing, after it reported below-forecast sales in the first quarter but profits in line with hopes.Business -
Safran Backs Outlook as Revenue Beats Forecasts
Safran confirmed its full-year guidance after it posted first-quarter revenue above expectations, as the postpandemic recovery in air traffic continued.Business -
Google Sales Accelerate as Ad, Cloud Businesses Hold Up Amid Costly AI Push
Parent company Alphabet reported $80.5 billion in first-quarter revenue, a 15% increase from a year earlier, as the company said it plans to pay a cash dividend to investors for the first time.Business - Google -
Walmart Founder's Son to Retire From Retailer's Board
Walmart’s former chair and long-serving board member Rob Walton, the son of the retail giant’s founder, will retire from the company’s board in June.Business -
GM Raises Profit Outlook for 2024 After Strong First-Quarter Earnings
Pickup trucks and resilient consumer spending powered GM’s 24% increase in quarterly profit, but China remains a trouble spot.Business -
The Secret Retreats That Have CEOs, VIPs and Billionaires Jockeying for Invites
Ultraexclusive conferences are booming. In Sicily, Aspen and Stockholm, Elon Musk and Margot Robbie mingle with bank leaders and media moguls. ‘There’s always another VIP level.Business -
Four Paramount Directors to Step Down as Company Discusses Skydance Merger
The directors’ expected departures come at a sensitive time for Paramount Global.Business -
Fired Americans Say Indian Firm Gave Their Jobs to H-1B Visa Holders
A group of experienced American workers said Tata Consultancy Services illegally discriminated against them based on their race and age.Business -
Chinese Bubble Tea Maker Slides in Hong Kong Trading Debut
Shares of Chinese bubble tea maker Sichuan Baicha Baidao Industrial slumped on lukewarm demand and comes ahead of planned listings by tea rivals Mixue Ice Cream & Tea and Guming.Business - Hong Kong -
VW Workers Vote to Join UAW in Historic Southern Win for Union
The victory at the Tennessee factory helped the union toward its goal of reversing declining membership by organizing foreign-owned factories.Business -
Explosion at Enel Hydroelectric Plant Kills at Least Three
Rescuers in Italy were searching for four missing workers after an explosion at a hydroelectric power plant owned by Rome-based energy group Enel killed at least three people.Business -
Country Garden Delays Annual Results, Expects Trading Suspension
Country Garden Holdings has delayed the publication of financial results for 2023 and expects its stock to be put on a trading halt, adding more uncertainty to the outlook for China’s real-estate sector.Business -
AB Foods Eyes Further Profit Growth as Primark Margins Rise
Primark owner AB Foods raised its dividend and said it expects a significant rise in full-year profit after its budget retailer delivered robust margins and higher earnings.Business -
He Loves Speed, Hates Bureaucracy and Told Ferrari: Go Faster
A tech executive with a new management strategy took the wheel of the luxury carmaker. Then it was off to the races.Business -
Switzerland Moves to Hike UBS Capital Requirements
Switzerland said UBS will have to hold substantially more capital under new rules aimed at preventing a repeat of Credit Suisse’s near-collapse last year.Business -
China Vanke Warns Earnings Could Remain Strained
China Vanke’s earnings could remain strained for some time amid the downturn of the Chinese real-estate market, which the developer said led to a sharp drop in net profit last year.Business - China -
JD Sports Steps Up U.S. Push With $1.1 Billion Deal for Hibbett
JD Sports is buying Hibbett in a deal that values the American retailer at $1.1 billion, doubling down on its push into the U.S. at a challenging time for the sports-retail market.Business -
Inside the Financials of Skydance, Paramount's Suitor
The companies are in exclusive merger talks. Skydance expects a surge in growth in coming years.Business -
Macy's Adds Two Directors Backed by Investor to Its Board
The new members will help evaluate the investor group’s proposal to acquire the retailer.Business -
Federal Government Backs Tourists in Atlantic City Casino Hotel Suit
The case, originally brought in May 2023 by two tourists, named Caesars Entertainment and MGM Resorts International as defendants, among others.Business -
Novartis Ups Guidance on Profit, Sales Growth
Novartis lifted its full-year guidance after first-quarter profit and sales rose and beat consensus expectations, boosted by strong sales of key drugs.Business -
Aviation-Safety Officials Warn on Air-Traffic Controller Fatigue After Close Calls
The FAA issued a directive to ensure minimum rest periods for controllers as a study said more changes are needed to avoid safety risks.Business -
Biggest Gains in Employee Engagement in the Management Top 250
ON Semiconductor heads the list, followed by S&P Global and KBRBusiness -
BlackRock's Murry Gerber Seeks to Remain as Independent Board Director for Another Year
Gerber would remain in the position for an additional year during the close and initial integration of BlackRock’s acquisition of Global Infrastructure Partners, Blackrock said.Business