BBVA Makes Hostile Bid for Sabadell

The Spanish lender's all-share offer values its smaller rival at around $12 billion and comes after an initial approach on the same terms was rejected. 


 
Chinese Developer Likely to Default on State-Backed Bond

Country Garden Holdings said it is likely to default on a government-guaranteed local bond, as it continues to struggle with liquidity amid China's property crisis. 


 
Intel Lowers Sales Outlook After China Chip Licenses Revoked

The chip maker kept its full-year forecast but said it expected revenue to be below the midpoint of the second-quarter range. 


 
Apple Sees Growing Backlash Against Ad Depicting Crushed Creative Tools

The company's advertisement, shown during a virtual launch of new iPads, faced widespread criticism on social media. 


 
Uber Swings to Loss Despite Rising Revenue

The ride-hailing company's bottom line, which had at last turned positive last year, was hit by investments and legal settlements. 


 
Instacart names Uber veteran its new CFO, as results top estimates

Maplebear Inc. - the grocery-delivery platform better known as Instacart - said Wednesday that its chief financial officer had resigned, effective immediately, and appointed a veteran of Uber Technologies Inc. in his place. 


 
Airbnb expects a stronger summer quarter, spurred by Olympics, but shares fall

Online vacation-rental platform Airbnb Inc. on Wednesday forecast second-quarter sales that were below Wall Street's expectations, largely due to Easter falling in March this year, but the company said big events abroad like the Summer Olympics in Paris and the Euro Cup would help sales over the summer. 


 
Disney and Warner to Offer Bundle of Their Streaming Services

The companies would package ad-free and ad-supported versions of Disney+, Hulu and Max. 


 
Microsoft to Invest Over $3 Billion to Build AI in Wisconsin

The company has been on a global spending spree, trying to build infrastructure and goodwill for artificial intelligence. 


 
GM Is Shutting Down the Chevy Malibu After 60 Years

The automaker said it will deepen its focus on electric vehicles.


(END) Dow Jones Newswires

05-09-24 0315ET