Wuxi AppTec-Related Shares Tumble on Proposed U.S. Bill Aimed at Chinese Biotech Companies

Shares of Wuxi AppTec and Wuxi Biologics tumbled Friday amid concerns a proposed U.S. bill would restrict medical providers from business with certain Chinese biotechnology companies. 


 
Salesforce Laying Off 700 Workers in Latest Tech Industry Downsizing

The layoffs, which will affect around 1% of its workforce, follow a 10% reduction last year. 


 
Intel Gives Muted Outlook Even as PC Recovery Lifts Sales

The chip maker hopes that the AI boom will lift fortunes. 


 
Warburg Pincus and TA Associates to Sell Procare Solutions in $1.86 Billion Deal

Buyout shop Warburg Pincus has backed Procare since 2018, while peer TA has been an investor since 2015. 


 
Jamie Dimon Shakes Up JPMorgan Leadership Again

Jennifer Piepszak, a CEO contender, moves to leading the corporate and investment bank. 


 
Lenovo Shares Fall After Intel Guides for Soft Sales

Lenovo's shares fell sharply after U.S. chipmaker Intel flagged a tepid sales outlook in the first quarter of the year, raising concerns about a long-awaited rebound in the personal computer market. 


 
Lumen Wins More Support for Deal Pushing out Debt Maturities

Lumen Technologies garnered the support of more debtholders for an out-of-court restructuring deal that would allow the telecom company to push out maturities past 2027. 


 
How Microsoft Catapulted to $3 Trillion on the Back of AI

Microsoft is the second company ever to end the trading day above $3 trillion, reflecting investors' confidence in an old tech company leading the AI revolution. 


 
FTC Launches Probe of Big Tech's AI Investments

The agency has issued orders seeking information about artificial-intelligence investments to Microsoft, OpenAI, Amazon.com, Anthropic and Google-owner Alphabet. 


 
Equinor, BP to Swap Stakes in New York Wind Projects

The 50-50 partners will exchange stakes to acquire full control, with Equinor getting all of Empire Wind, and BP the entirety of Beacon Wind.


(END) Dow Jones Newswires

01-26-24 0515ET