PRESS DIGEST- Wall Street Journal - Feb. 16
Feb 16 (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.
- Nike on Thursday said that it will reduce its workforce by about 2%, or more than 1,600 people, in a bid to cut costs.
- Microsoft-backed OpenAI is working on a software that can generate minute-long videos based on text prompts, the company said on Thursday.
- Lucid on Thursday cut the starting price of its Air sedan by 10%, to $69,900, the second reduction for the vehicle in two months.
- DraftKings plans to acquire lottery app Jackpocket for about $750 million in cash and stock in a deal that will allow the sports-betting giant to expand into lottery games.
- Toast said it will cut about 550 employees in a restructuring meant to slash expenses.
- Wells Fargo said the U.S. Office of the Comptroller of the Currency has terminated a 2016 punishment for the bank’s sales practices, the bank said, after it spent years trying to repair the damage from a fake accounts scandal
(Compiled by Bengaluru newsroom)
