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PRESS DIGEST- Wall Street Journal - February 11
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PRESS DIGEST- Wall Street Journal - February 11
Feb 10, 2025 10:14 PM

Feb 11 (Reuters) - The following are the top stories in

the Wall Street Journal. Reuters has not verified these stories

and does not vouch for their accuracy.

-A consortium of investors led by Elon Musk offered $97.4

billion to buy the nonprofit that controls OpenAI, raising the

stakes in his battle with Sam Altman over the company behind

ChatGPT.

-U.S. President Donald Trump on Monday announced 25% tariffs

on imports of steel and aluminum to the U.S., reinstating global

duties without exceptions for allies such as Canada, Mexico,

Japan and South Korea that were relaxed by the Biden

administration.

-Activist Elliott Investment Management has built more than

$2.5 billion stake in Phillips 66 and plans to push the

oil refiner to consider operational changes to boost its

stagnant stock.

- Hyatt Hotels ( H ) said on Monday it would acquire Playa

Hotels & Resorts ( PLYA ) for about $2.6 billion including $900

million in debt.

-A U.S. judge on Monday ordered the Trump administration to

fully comply with a previous order lifting its broad freeze on

federal spending, after a group of Democratic state attorneys

general last week said that some funds remained frozen.

-The Justice Department directed federal prosecutors in

New York to drop corruption charges against New York Mayor Eric

Adams, a high-profile prosecution that began under former U.S.

President Joe Biden's administration.

(Compiled by Bengaluru newsroom)

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