Shell to Book Charge as Upstream Output Falls
Shell said it expected to book after-tax impairments of up to $3 billion for the second quarter of 2023, and that upstream production declined from the first three months of the year.
Clariant Lowers 2023 Guidance on Disappointing Second Quarter
Clariant forecast underlying earnings of CHF650-CHF700 million this year, with an Ebitda margin of 14.3%-15.1%, and lower than previously estimated sales, as preliminary second-quarter results showed weaker demand due to macroeconomic challenges.
Day After Threads Launches, Twitter Accuses Meta of Using Its Trade Secrets
Meta executive says no ex-Twitter employees are on the Threads engineering team as social-media battle heats up.
The AI Boom Isn’t Breaking the Memory-Chip Slump-Yet
Samsung Electronics forecast a 96% drop in its operating profit for its second quarter-a sign that even the world’s largest maker of memory chips isn’t able to capitalize on the moment.
Tech Stocks Have Recovered, But That Hasn’t Helped Startups
The reflected glow of the Nasdaq’s rise was supposed to revive funding in the startup universe. But so far, ‘it’s still a crummy fundraising environment.’
Mallinckrodt in Talks to Cut Opioid Settlement by Up to $1 Billion
Mallinckrodt, the financially troubled pharmaceutical company, is in discussions with a compensation trust for opioid victims as it seeks to potentially reduce the amount of settlement payments by as much as $1 billion, according to people familiar with the matter.
Elon Musk’s SpaceX Now Has a ‘de Facto’ Monopoly on Rocket Launches
The company’s rockets are ferrying astronauts, launching satellites and dominating any competition.
FDA Approves Leqembi, Extending Alzheimer’s Treatment to More Patients
Medicare enrollees can get the anti-amyloid treatment as a result of the agency’s full approval.
Man Group to Buy Varagon Capital in U.S. Direct Lending Push
The $183 million deal is the latest in a string of acquisitions of private-credit investors by larger asset managers.
SVB Securities to Be Sold for $100 Million
The investment-banking firm formerly tied to Silicon Valley Bank was approved to be sold out of bankruptcy to the unit’s founder and senior managers.
Source: Dow Jones Newswires