Private-Equity Firm KKR in Advanced Talks to Buy Simon & Schuster for Roughly $1.65 Billion
Book publisher was put up for sale for the second time after a judge blocked a previous deal with Penguin Random House.
Wells Fargo, SocGen to Settle With SEC, CFTC Over Use of Messaging Apps
Truist Financial also disclosed this week that some of its subsidiaries have received requests for information from regulators related to compliance with record-keeping requirements.
Apple Sees Third Straight Quarter of Falling Sales, but Services Unit Hits Record
Sales of iPhones missed analyst estimates, although executives pointed to continued strength in emerging markets.
Amazon Delivers Surprisingly Strong Profit
The results cap earnings reports by other tech giants showing improving health in a range of businesses, though demand in some areas remains soft.
Berkshire Hathaway Class A Stock Hits a Record
Berkshire Hathaway CEO Warren Buffett, who turns 93 on Aug. 30, now holds a stake in the company worth $118 billion.
WPP Cuts Guidance After Profit Slump
WPP sees like-for-like growth in revenue of 1.5%-3% in 2023, with headline operating profit margin still expected to be around 15%, after it reported a below-forecast profit for the first half hit by a slowdown in U.S. tech spending.
Commerzbank Lifts Outlook After Record Interest Income
Commerzbank forecast net interest income of at least EUR7.8 billion in 2023 after it hit a record in the second quarter, helping push profits higher.
Australian Regulator Rejects ANZ’s Bid for Suncorp’s Banking Unit
Australia’s competition regulator has rejected ANZ’s proposed $3.21 billion acquisition of Suncorp’s banking unit.
Gucci Works Its Socks Off to Be Cool Again
A big test for the fashion brand comes in September
UAW Demands 40% Pay Hike in Labor Talks With Detroit Automakers
The United Auto Workers union is pressing for the substantial wage increase for factory workers at GM, Ford and Stellantis.
Source: Dow Jones Newswires