PRESS DIGEST-Wall Street Journal - Oct 19
Oct 19 (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.
- The Biden administration is planning to sell more oil from the country's strategic reserves — and is considering authorizing new sales this winter — as it tries to head off the potential for more market shocks and high prices, according to senior administration officials.
- Microsoft Corp laid off more employees this week, becoming the latest tech company to show signs of concern about future demand.
- Johnson & Johnson is likely to make modest cuts to its workforce both as a result of economic pressures and in connection with the planned separation of its consumer-health business next year, Chief Financial Officer Joseph Wolk said in an interview.
- Facebook owner Meta Platforms Inc said it would sell its social-media animated-images company Giphy after UK’s top competition authority affirmed an earlier order to undo the 2020 acquisition.
- Amazon.com Inc workers in upstate New York voted against unionizing, a setback for labor activists trying to expand their unionization push at the tech company.
- French cement firm Lafarge SA pleaded guilty on Tuesday in a New York federal court to paying Islamic State and an al Qaeda affiliate to protect its Syrian cement plant, marking what the Justice Department said was the first time it has charged a company with supporting terrorist organizations. (Compiled by Bengaluru newsroom)
