News

Regulation

Biden to Name Tech Critic as Top Antitrust Cop

Jonathan Kanter "has been a leading advocate and expert in the effort to promote strong and meaningful antitrust enforcement and competition policy.”
Cryptocurrency

Yellen Urges Swift Action on Stablecoin Rules

A presidential working group expects to make recommendations on how to regulate the booming digital currencies amid concerns over their stability.
People

Exxon Turns to Outsider Mikells as New CFO

Kathryn Mikells's appointment "is clearly a first move for what will be a change in management and tone."
The Cloud

Zoom Buys Contact Center Firm Five9 for $14B

The deal is Zoom's biggest move yet in its effort to build on the growth it experienced during the pandemic.
The Economy

Retail Sales Rebound in June With 0.6% Gain

“Inflation is a challenge for businesses right now, but sales growth is very good and consumer demand is very good."
The Economy

Industrial Production Hit By Chip Supply Crunch

Total production rose 0.4% in June but factory output dipped 0.1% amid supply chain constraints, particularly in the auto sector.
Fraud

SEC Alleges Fraud in Space SPAC Merger

Space exploration startup Momentus and its blank-check partner allegedly misled investors in statements promoting the $1.2 billion deal.
Legal

Facebook Wants FTC Chair off Antitrust Case

Lina Khan “cannot meet any standard for neutrality that would permit her to participate in any decision-making" regarding the litigation.
Financial Performance

Delta Posts $652M Profit on Surging Demand

“We achieved significant milestones in the quarter including a solid pre-tax profit in the month of June."
Financial Performance

Drinks Lead Big Second Quarter for PepsiCo

“A lot of the things we did through the pandemic are paying dividends now that mobility has increased and consumers are getting out more."
The Economy

U.S. Consumer Prices Increase 5.4% in June

"June’s big inflation number will ramp up scrutiny of price-related data as policymakers assess whether the economy is at greater risk of overheating."
Corporate Finance

Flipkart Gets $3.6B to Invest in Indian E-Commerce

The largest-ever funding round for an Indian startup "reflects the promise of digital commerce in India."
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