general news

SINGAPORE—Chinese authorities are preparing to impose a fine of more than $1 billion on ride-hailing company Didi Global, DIDIY 12.97% bringing an end to a yearlong investigation into the company’s cybersecurity practices, according to people familiar with the issue. Once the penalty is unveiled, the government plans to ease a restriction banning Didi from adding new users to its platform, and to allow the Beijing-based technology…

WASHINGTON—The Consumer Financial Protection Bureau is preparing to prod banks to pay back more customers who are the victims of scams on Zelle and other money-transfer services, according to people familiar with the coming regulatory effort.Under new guidance the bureau is preparing to release in the coming weeks, banks could face heightened requirements around certain scams that have become more prevalent on these platforms, these people said, such as when a customer is tricked into sending money to a scammer pretending…

Amazon. AMZN 2.43% com Inc. said it filed a lawsuit against the administrators of what it says are more than 10,000 Facebook groups used to coordinate fake reviews of Amazon products. Those in charge of the Facebook groups solicit the reviews for items ranging from camera tripods to car stereos in exchange for free products or money, Amazon said in a statement. The activity, which is against Amazon’s rules, occurs across…

SHARE YOUR THOUGHTSWhat do you expect might come of a Musk-Twitter standoff in court? Join the conversation below. Lawyers expect a quick decision from Chancellor McCormick, who could announce her ruling as soon as the hearing ends on Twitter’s request for an…

Johnson & Johnson JNJ 0.01% reported a profit decline for the latest quarter and cut its full-year sales and profit guidance, as a stronger U.S. dollar, macroeconomic pressures and the Covid-19 pandemic hit results of the healthcare-products company.The New Brunswick, N.J.-based company, which makes Tylenol and Band-Aid, said Tuesday inflation has contributed to an increase in its costs for items including raw materials and transportation, which cut into its gross…

Residential construction in the U.S. slowed for the second straight month in June, as both housing starts and the number of building permits issued declined. Housing starts fell 2% to a seasonally adjusted 1.56 million, the Commerce Department said Tuesday. Economists surveyed by The Wall Street Journal expected housing starts to rise 1.4%. Building permits slipped 0.6% to 1.69 million, but held 1.4% higher than the figure in the prior year. The drops came as interest rates climbed and a…

Lockheed Martin Corp. LMT -0.26% cut its full-year sales and profit guidance and said workforce and supply chain kinks threaten to linger into 2023. The world’s largest defense contractor by revenue and its peers have been hit by a combination of parts shortages and elevated staff absentee rates. Continuing delays are challenging the industry’s return to growth as many governments pledge to boost military spending.…

Twitter filed its response Monday in court. Photo: Constanza Hevia H. for The Wall Street Journal…

The Justice Department is discussing with Cargill Inc. and Continental Grain Co. potential concessions that could clear the way for the companies to acquire poultry processor Sanderson Farms Inc., SAFM -1.44% according to people familiar with the matter.The discussions with the government involve how farmers and plant workers are paid, the people said. Cargill, an agribusiness giant with meat, grain and food ingredients businesses, and…

The Justice Department said it settled a case with Uber UBER 4.82% Technologies Inc. that alleged the ride-hailing company wrongfully charged wait-time fees to passengers with physical disabilities. Under the settlement, Uber will “offer several million dollars in compensation” to more than 65,000 users who, because of their disability, needed more time to enter a car and were charged a waiting fee, the Justice Department said Monday.…