Latam Airlines Cleared to Depart Chapter 11 Under Creditors’ Control

A bankruptcy judge approved a chapter 11 exit plan for Latam Airlines Group SA that puts $5.44 billion of fresh capital into the Chilean business, moving it closer to ending its pandemic-driven restructuring after two years. Judge James Garrity of the U.S. Bankruptcy Court for the Southern District of New York said the chapter 11 … Read more

YouTube Shorts Is Huge In India, Now It’s Going After TikTok in the U.S.

When Jonothon Lyons began dressing up as “Buddy the Rat” and filming his antics around New York, he had no idea he was laying the foundation for a massive social-media following. Especially one with viewers primarily in India. Mr. Lyons posts his videos on YouTube Shorts, joining the creators who have helped the two-year-old short-form … Read more

WSJ News Exclusive | Starbucks’s Head of North America Departs Company

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Source link

One Grocer Wanted to Give Up Plastic. It Got Rotting Bananas.

When one of the best-known supermarket chains in the U.K. decided to remove plastic from its products, it hadn’t anticipated a spike in shoplifting. Yet that is what happened when Iceland Foods Ltd. started selling steak in recyclable paper trays. Some customers bent the pliable containers in half and stuffed them down their trousers, executives … Read more

WSJ News Exclusive | Recession Fears Surge Among CEOs, Survey Suggests

Most top executives say they think a recession is looming or already here, according to a new survey, reflecting a rapid deterioration of the economic outlook among business leaders. More than 60% of CEOs expect a recession in their geographic region in the next 12 to 18 months, according to a survey of 750 CEOs … Read more

Facebook, Twitter Agree to New European Rules on Online Posts

Facebook META -5.01% owner Meta Platforms Inc., Twitter Inc. TWTR -1.66% and other social-media platforms have agreed to abide by tougher European Union standards for policing online postings, offering a preview of the type of rules big tech companies will face under a coming digital-content law. The EU’s code of practice on disinformation, unveiled Thursday, … Read more

World’s Biggest Miner Scraps Immediate Thermal-Coal Exit

ADELAIDE, Australia—The world’s largest mining company abandoned the sale of its last thermal coal mine, and said it would aim to close the Australian pit in 2030. Despite record-high coal prices, BHP Group Ltd. said it failed to find a buyer for the Mt Arthur mine, which is one of Australia’s biggest coal operations but … Read more

WSJ News Exclusive | Elon Musk Expected to Reiterate Desire to Own Twitter in Meeting Thursday

Elon Musk is expected to confirm his desire to own Twitter Inc. TWTR 2.07% when he speaks to the social-media company’s employees on Thursday, according to a person familiar with the matter. The billionaire Tesla Inc. chief executive is slated to answer pre-submitted employee questions for roughly an hour at a virtual Twitter all-hands meeting … Read more

WSJ News Exclusive | Mental-Health Startup Cerebral Investigated by FTC

The Federal Trade Commission has begun an investigation into mental-health startup Cerebral Inc., according to a letter the FTC sent the company that was reviewed by The Wall Street Journal. In the letter dated June 1, the FTC said it was investigating whether Cerebral engaged in deceptive or unfair practices related to advertising or marketing … Read more

Oracle Sales Top Expectations Against Uncertain Economic Backdrop

Oracle Corp. ORCL -4.60% sales rose in the latest quarter, soothing concerns about the business-software giant’s outlook against a backdrop of economic uncertainty affecting technology companies. The Austin, Texas-based company said companywide revenue was up 5% to $11.84 billion in its fiscal fourth quarter, while total cloud revenue grew 19% from a year earlier to … Read more