WASHINGTON—The U.S. is set to levy fresh sanctions against Russia and China on Friday, actions that include targeting Russia’s deployment of Iranian drones in Ukraine, alleged human-rights abuse by both nations and Beijing’s support of alleged illegal fishing in the Pacific, according to officials familiar with the matter. The bulk of the expected sanctions are … Read more
“We’re not concerned at all about creating any confusion,” he said in an interview with CNBC later that afternoon. Less than a month later, the two men were at odds over Mr. Chapek’s plan to lay off tens of thousands of workers at Disney’s theme parks as Covid-19 hit, say people familiar with the men. … Read more
Sam Bankman-Fried Photo: Ting Shen/Bloomberg News Crypto dark knight Sam Bankman -Fried may have deceived investors, customers and various journalists and politicians. But now the FTX founder is at least telling the truth about a few things. Lo, he says that environmental, social and governance (ESG) investing is a fraud, and so was his progressive … Read more
Kohl’s Corp. KSS 8.72% Chief Executive Michelle Gass is leaving the department-store chain early next month to join Levi Strauss LEVI -1.73% & Co. with plans to have her take over as the jeans maker’s CEO. At Kohl’s, Ms. Gass has been under attack from activist investors for sales declines and a steep drop in … Read more
Republicans are stepping up their efforts to prevent investors from considering environmental and other factors in their decisions. They are running up against the trillions of dollars in investments committed to funds addressing such concerns. The criticism focuses on the belief that Wall Street and investors are cutting off fossil-fuel producers from lending and investment. … Read more
Washington and Beijing reached an agreement for U.S. accounting regulators to inspect China-based audits, laying the groundwork for a monthslong process that could prevent numerous Chinese companies from being booted off American stock exchanges. The deal, which was negotiated over many months, comes after a decadelong standoff between regulators in the two countries over the … Read more
Two of Paul Newman’s daughters sued the Newman’s Own Foundation, saying its leaders have strayed from their late father’s wishes and limited their involvement in its charitable giving. The Hollywood star created the Newman’s Own Foundation in 2005, three years before his death. The nonprofit controls a food company called Newman’s Own Inc. that funds … Read more
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NEW YORK—The U.S. Securities and Exchange Commission on Friday added Alibaba Group Holding to a list of Chinese companies at risk of being delisted from the U.S. exchanges if their auditors can’t be inspected before spring 2024. Under the Holding Foreign Companies Accountable Act of 2020—which took effect in 2021—the U.S. can ban the trading … Read more
Activist investor Elliott Management Corp. has taken a big stake in Pinterest according to people familiar with the matter, as the once-hot social-media company grapples with a decline in users and other challenges. Elliott has told the company that it is the biggest investor in Pinterest, having built a stake of more than 9% in … Read more