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Individual investors are backing a new underdog, Avaya Holdings Corp. , pumping up the software company’s downtrodden stock by about 200% over the past month and confounding Wall Street professionals. Avaya’s fans include day traders who congregate on Reddit and Twitter forums, and a 35-year-old software entrepreneur who has snapped up a 15% stake. They are facing off against a group of large fund managers such as Apollo Global Management Inc. and Ares Management Corp. that could benefit if the…

Apple is queuing up new software to fix bugs plaguing the just-released, high-end iPhone 14 Pro and other iPhones running iOS 16. The latest software for models going back to the iPhone 8 arrived last week, ahead of the release of Apple’s latest iPhone crop. iOS 16 includes the ability to customize your lock screen, unsend messages or set up medication reminders. Apple is queuing up new software to fix bugs plaguing the just-released, high-end iPhone 14 Pro and other iPhones running…

WASHINGTON—A federal judge Monday ruled against a Justice Department antitrust challenge to UnitedHealth Group Inc.’s $13 billion acquisition of health-technology firm Change Healthcare Inc., rejecting government claims that the deal would unlawfully suppress competition and limit innovation in health-insurance markets. U.S. District Judge Carl Nichols ruled for the companies in an opinion that he kept under seal for now because he said it “may contain competitively sensitive information.” The judge…

Nikola Corp. CEO Mark Russell told a New York federal jury Monday that he had concerns about joining the electric-truck company because he believed its founder, Trevor Milton, “was prone to exaggeration in public statements.” Testifying in Mr. Milton’s securities-fraud trial, Mr. Russell said that before coming on board in 2019 as president of Nikola, he and Mr. Milton reached an agreement that Mr. Russell would become the chief executive officer if Nikola became a publicly traded company. Mr. Russell…

Ford Motor Co. on Monday warned third-quarter earnings would be affected by about $1 billion in higher-than-anticipated supplier costs and parts shortages that have led to unfinished vehicles it couldn’t sell during the period. The Dearborn, Mich., auto maker reaffirmed its year-end guidance for 2022, projecting adjusted operating results for the third quarter would fall between $1.4 billion and $1.7 billion. Ford Motor Co. on Monday warned third-quarter earnings would be affected…

After Mark and Melissa Reichert moved from California to Dallas, the couple put their home in the Los Angeles suburbs up for sale this summer. Yet even after they cut the asking price by $10,000, there was hardly any interest. Instead, they decided to rent out the house. Their monthly payout now covers their ownership costs. If the housing market remains sluggish, they would likely keep the home as a rental once the current two-year lease expires, Mr. Reichert said. After Mark and…

BRUSSELS—The European Union staked its claim to sweeping new powers to regulate industries during crises, presenting a controversial proposal that has already drawn opposition from business leaders but which EU officials say is vital to tackle disruptions such as those during the Covid-19 pandemic. The European Commission, the bloc’s executive arm, on Monday unveiled what it calls the Single Market Emergency Instrument, which aims to address the kinds of disruptions that took place during the pandemic,…

Aviation-safety regulators rejected a proposal by a regional airline seeking to reduce the number of hours that some co-pilots need to begin flying passengers.  Indianapolis-based Republic Airways Holdings Inc. had asked the Federal Aviation Administration to allow pilots who go through a special program at the airline’s training academy to begin flying on a restricted license after 750 hours of training—half what is generally required.  Aviation-safety regulators rejected a proposal by…

NEW YORK—Major U.S. companies will pledge to hire more than 20,000 refugees over the next three years, a number that refugee advocates say will help integrate the wave of Afghans and Ukrainians who arrived over the last year. The hiring commitments are expected to be announced later today at an event organized by the Tent Partnership for Refugees, which is pressing corporations to hire refugees. The group said that the pledges reflect a growing awareness by U.S. companies that hiring refugees benefits…

Take-Two Interactive Software Inc. said hackers broke into the networks of its Rockstar Games Inc. unit and illegally accessed early-development footage of the company’s next “Grand Theft Auto” videogame. Take-Two disclosed the hack in a securities filing Monday, saying that an unauthorized third party downloaded confidential information from its systems. The New York-based company said that Rockstar Games doesn’t expect any long-term disruptions from the incident and that work on the widely known…