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News Highlights: Top Company News of the Day

Lenovo's Fourth-Quarter Profit Jumped 48% 

Lenovo Group said its fourth-quarter profit rose 48%, driven by higher revenue and disposal gains.

Apple Boosting Pay Budget for Workers Amid Tight Labor Market 

The iPhone maker is facing store unionization attempts and higher inflation.

Nvidia Posts Record Sales, Warns of Russia, China Hit 

The chip maker's data-center sales surpass its gaming sales for only the second time.

Elon Musk to Rely More Heavily on Equity to Finance Twitter Deal 

His funding plan now includes $33.5 billion in equity, up from $27.25 billion, amid a sharp price decline for Tesla shares.

Corruption Probe in Anaheim, Calif., Grows, Drawing in Disney 

FBI affidavit says Disney and company executive were part of a "cabal" that tried to influence local politics.

Boeing Starliner Returns to Earth After Flight to International Space Station 

The spacecraft is expected to land in New Mexico later Wednesday, the last leg of a test flight the company first tried to complete more than two years ago.

Aramco Approached Valvoline About Takeover of One of Its Units 

Deal talks are in the early stages, with the Saudi oil giant eyeing Valvoline's global products business, according to people familiar with the matter.

U.K. to Probe Chinese-Led Takeover of Chip Maker 

The scrutiny is the latest sign that countries are becoming more protective over their semiconductor industries.

China's Covid Lockdowns Hurt Sales of Starbucks Coffee, Adidas Sneakers 

China's strict Covid lockdowns are hurting consumer spending for everything from coffee to sneakers and hotels, weighing on multinationals with a big presence in the country.

Pfizer to Sell Vaccines, Drugs at Low Prices to Poorer Countries 

The arrangement means that some of the drugs that carry list prices of tens of thousands of dollars a year in the U.S. would be substantially less for the low-income countries to buy, according to Pfizer.


(END) Dow Jones Newswires

May 26, 2022 01:15 ET (05:15 GMT)

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