Oracle Lays Off Hundreds of Employees 

The layoffs primarily hit Oracle's advertising and customer experience group as the company emphasizes cloud and healthcare IT services.

Snickers Maker Apologizes to China for Referring to Taiwan as Its Own Country 

Mars Wrigley said it respects China's national sovereignty and conducts its business operations in 'strict compliance' with local laws and regulations

Russia Bars Exxon and Other Western Investors From Selling Shares in Strategic Businesses 

The move targets companies from countries that have sanctioned Moscow for the war in Ukraine, widening the rift between Russia and the West.

Ericsson Sued by U.S. Terror Victims Over Alleged Iraq Bribe Payments 

Ericsson is being sued by hundreds of Americans who say the company's alleged payment of bribes to al Qaeda and Islamic State-protection money meant to let it operate in Iraq-also helped fund acts of terror.

DraftKings Raises Forecast for 2022 Revenue 

The sports-betting company's quarterly results beat expectations, as executives said customer activity remained strong despite economic pressures.

Pfizer in Advanced Talks to Buy Global Blood Therapeutics 

Acquiring the maker of a recently approved drug for sickle-cell disease would be the latest move by the drug giant to bolster its portfolio and pipeline.

Amazon Buying Roomba Maker iRobot for $1.7 Billion 

The deal for the robot vacuum, which would be Amazon's fourth-largest acquisition, adds to a connected-home portfolio that also includes the Alexa virtual assistant speaker and Ring video doorbell.

Elon Musk Predicts 'Mild Recession' for 18 Months 

Tesla's chief executive said he expects the U.S. is headed for a mild recession and predicted that the rapid pace of inflation will begin to cool.

Warner Gets Really Real With Streaming Plan 

Canceled movies and a modest long-term subscriber target show new HBO Max owner is serious about playing smart.

Evergrande Backs Out of Plan to Build World's Largest Soccer Stadium 

The struggling Chinese property developer said it would receive a refund equivalent to about $818 million, and intends to use the money to help repay debt.


(END) Dow Jones Newswires

August 05, 2022 19:15 ET (23:15 GMT)

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