Huge U.S. Investments at Risk in Kazakhstan Unrest

For years, Kazakhstan’s vast natural riches and relative political stability have made the country a ripe target for U.S. investments. The current wave of protests, which has led to dozens of deaths, is now making those investments a riskier proposition. Since 2005, the value of U.S. investment in the Kazakh economy has surpassed $45 billion, … Read more

O-I Glass Subsidiary Floats $610 Million Asbestos Bankruptcy Settlement

A bankrupt subsidiary of O-I Glass Inc., one of the world’s largest makers of glass container products, has proposed a $610 million settlement to resolve costly litigation arising from manufacturing thermal insulation products that contained asbestos, a cancer-causing mineral. The proposed settlement, made public in papers filed Wednesday in the U.S. Bankruptcy Court in Wilmington, … Read more

Apple’s Metaverse Prospects Produce Real Optimism for Investors

Apple Inc. AAPL 0.26% may not have triggered the current buzz about the metaverse, but the company is reaping the benefit. Excitement about how the iPhone maker could gain from a broad embrace of digital alternate realities has been a central facet of the rise in its share price in recent months, according to investors … Read more

WSJ News Exclusive | Washington Post Reprimands Business Editor Over Tweet Criticizing Column About NFL’s Ben Roethlisberger

Washington Post Executive Editor Sally Buzbee told employees that a top editor has been reprimanded over a tweet in which she criticized an SF Gate column that condemned football player Ben Roethlisberger, according to a company spokeswoman. Lori Montgomery, who is the Post’s business editor, tweeted last week that the column, which referenced allegations that … Read more

Fed’s Mester Says Economy on Track for a March Rate Rise

Federal Reserve Bank of Cleveland President Loretta Mester responds to questions about the inflation outlook and what policy moves the Fed may need to make as it confronts price pressures, at WSJ’s CFO Network Summit. Jan. 12, 2022 12:09 pm ET Federal Reserve Bank of Cleveland President Loretta Mester said Wednesday the U.S. central bank … Read more

China’s Startups Attract Record Funding Despite Tech Clampdown

Unlike in previous years, when most Chinese tech funding went to internet startups in e-commerce, the bulk of the money in the past year headed into areas that hew more closely to Communist Party priorities, such as semiconductors, biotechnology and information technology. Venture-capital investors put $129 billion into more than 5,300 startups in China in … Read more

Covid-19 Pill Developer to Spend SPAC IPO Funds on Clinical Trial, Hiring

Biopharmaceutical firm Pardes Biosciences Inc. plans to spend a large chunk of the funds it raised through a public offering late last month on a pill it is developing to treat Covid-19, including on manufacturing and hiring more clinical staff. The clinical-stage company, which is based in Carlsbad, Calif., on Dec. 27 listed on Nasdaq … Read more

Medicare to Pay for Biogen’s New Alzheimer’s Drug in Clinical-Trial Patients

Medicare officials said they would cover Biogen Inc.’s BIIB 2.64% controversial Alzheimer’s disease drug Aduhelm on the condition that patients are in clinical trials and have early-stage symptoms. The clinical trials are intended to gather evidence on the drug’s safety and effectiveness and would apply to similar drugs if they are approved, the Centers for … Read more

GM Takes Aim at Carvana, Vroom With Used-Car Website

The market for selling used cars online has exploded during the pandemic. Now, General Motors Co. GM 0.64% wants to help its dealers secure a bigger piece. The Detroit auto maker is launching a new website called CarBravo that will help U.S.-based GM dealers market and sell used cars online, competing directly with Carvana Co. … Read more

Facebook Owner Meta Names DoorDash CEO Tony Xu to Board

Facebook FB 1.92% parent Meta Platforms Inc. appointed DoorDash Inc. DASH 7.64% Chief Executive Tony Xu to its board of directors, adding outside executive experience to a group that has been criticized for its lack of independence. Mr. Xu’s appointment Tuesday is the first change to the board since the company rebranded itself as Meta … Read more