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Twitter Freezes Hiring as Two Senior Executives Leave the Company

Twitter Inc. TWTR -2.47% Chief Executive Parag Agrawal said the company is pausing hiring and looking at ways to trim costs as he announced on Thursday the departure of two senior executives, according to an internal memo. The changes come weeks after the social-media platform agreed to be acquired by Elon Musk for $44 billion and are the latest example of a technology…

Nissan and Toyota Set the Bar Lower than GM and Ford

Toyota TM 1.12% and Nissan NSANY -1.30% are giving more warning signals about the road ahead than their American peers. This is misleading: The Japanese players may actually handle it better. Nissan said it expected an operating profit of 250 billion yen, equivalent to roughly $1.9 billion, for the year through March 2023—in line with what it achieved in the last fiscal year. Analyst…

Ola Electric’s chief marketing officer Varun Dubey quits

Varun Dubey, chief marketing officer has quit the company. The exit of Varun Dubey was confirmed by Ola Electric’s spokesperson. According to the spokesperson, Varun left the company because of personal reasons. This is the third high profile exit from the company in the month of May. Before Varun, Arun Sirdeshmukh and Dinesh Radhakrishnan left the company. Varun joined Ola back in December 2019. He was appointed as head of the company’s financial services. Then in September 2020, he was appointed as Head of Digital…

Businesses Seek to Soften SEC Cyber Rules

Companies including Chevron Corp. , Quest Diagnostics Inc. and Ernst & Young LLP are pushing to narrow proposed cybersecurity rules from the Securities and Exchange Commission in the private sector’s latest attempt to shape a growing array of regulations by Washington. In comments on rules proposed by the SEC, businesses in recent days have urged the agency to harmonize its deadline of four business days to disclose security incidents with similar rules from…

Grocery, Airfare Inflation Reached Historic Highs in April; Gas Prices Eased

Americans paid less for gasoline but more for groceries and air travel last month as the broader pace of inflation eased slightly but remained historically high. A fall in energy costs led the way toward the smaller overall gain, with gasoline prices dropping a seasonally-adjusted 6.1% in April, following a steep advance in crude-oil prices in March after Russia’s invasion of Ukraine. Groceries rose by 1% over March and were up 10.8% over the last 12 months, the largest 12-month increase…

How Union Efforts at Amazon and Starbucks Are Playing Out Differently

Unionization efforts in two large American employers demonstrate some of the broader trends playing out in the U.S. labor movement.There are two key differences between unionization campaigns at Amazon.com Inc. AMZN 0.06% and Starbucks SBUX -2.22% : Starbucks petitions have been more frequent and much smaller in bargaining size compared with Amazon. As of May 5, more than 240 Starbucks locations have filed election…

Swedish Match Agrees to $16 Billion Takeover by Philip Morris

Under the proposal, subject to shareholder approval, investors in the Stockholm-based company will receive 106 Swedish krona in cash for each share held. The price represents a 39% premium to the company’s share price of 76.50 Swedish krona on Friday, the day before The Wall Street Journal reported that the companies were in talk. In the U.S.—Swedish Match’s largest market, followed by Scandinavia—the company’s ZYN nicotine-pouch brand dominates a market that includes rival offerings from Altria…

Armstrong Flooring Files for Bankruptcy as Higher Costs Outpace Ability to Raise Prices

Armstrong Flooring Inc., a publicly traded manufacturer founded in 1860, has filed for bankruptcy, saying it couldn’t raise prices enough to counter supply-chain disruptions and higher costs for materials and transportation. The Lancaster, Pa.-based company, along with subsidiaries AFI Licensing LLC, Armstrong Flooring Latin America Inc. and Armstrong Flooring Canada Ltd., filed for chapter 11 protection Sunday in the U.S. Bankruptcy Court in Wilmington, Del. In November, Armstrong warned about…