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PRESS DIGEST- Wall Street Journal - June 12
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PRESS DIGEST- Wall Street Journal - June 12
Jun 11, 2024 11:41 PM

June 12 (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.

- Amazon.com Inc ( AMZN ) will invest billions of dollars in

Taiwan over the next 15 years to build data centers, the latest

global technology company to expand its footprint in Asia.

- China Evergrande New Energy Vehicle's ( EVGRF ) shares

fell sharply after Chinese authorities ordered the company to

repay government subsidies due to its failure to meet

contractual obligations, adding to its woes.

- Elon Musk filed to withdraw his lawsuit against OpenAI and

its chief executive, Sam Altman, the latest twist in the

billionaire's feud with his former co-founder as they vie for

dominance in the artificial intelligence arms race.

- Shari Redstone has ended discussions to sell her

controlling stake in Paramount Global ( PARAA ) to Skydance Media

and merge the two companies, drawing to a close months of

negotiations.

- National Bank of Canada ( NTIOF ) agreed to acquire Canadian

Western Bank ( CWESF ) in a share-swap deal valued at about 5

billion Canadian dollars ($3.63 billion), aided by a sizable

investment from one of North America's biggest pension funds.

- Consent judgments were filed on Tuesday in Johnson &

Johnson's ( JNJ ) proposed $700 million settlement related to

marketing of its talcum-based baby powder.

(Compiled by Bengaluru newsroom)

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