FTC Says Jeff Bezos, Others at Amazon Must Testify in Agency's Probe
WASHINGTON-Amazon.com Inc. founder Jeff Bezos and Chief Executive Andy Jassy can't avoid testifying in an investigation related to the company's Prime membership program, the Federal Trade Commission said late Wednesday.
Amazon last month asked the FTC to cancel subpoenas issued to Messrs. Bezos and Jassy, arguing that they aren't steeped in the details of Prime's sign-up and cancellation processes, which is the investigation's focus. The FTC's staff began the probe in March 2021, examining whether the company deceived customers into signing up for Prime and didn't provide a simple way to cancel the program's recurring charges, according to the order issued Wednesday.
Abu Dhabi Oil Giant in Talks to Buy Trader Gunvor
Abu Dhabi's massive national oil company is in talks to buy commodity trading house Gunvor Group Ltd., according to people familiar with the talks, a deal that would create one of the world's largest traders of oil-and-gas products as the war in Ukraine is disrupting global energy supply.
Abu Dhabi National Oil Co. is considering a minority stake or taking full control of Gunvor, merging it with the Emirati oil firm's own trading company, these people said. A deal would mark a major overseas investment for a Gulf state flush with cash earned from elevated oil prices.
Meta Quietly Reduces Staff in Cost-Cutting Push
Meta Platforms Inc. is planning to cut expenses by at least 10% in the coming months, in part through staff reductions, as the social-media giant confronts stalling growth and increased competition, according to people familiar with the company's plans.
The Menlo Park, Calif., company has begun quietly nudging out a significant number of staffers by reorganizing departments and giving affected employees a limited window to apply for other roles within the company, according to current and former managers familiar with the matter, in a move that achieves staffing cuts while forestalling the mass issuance of pink slips.
BP Says Two Employees Died After Fire at Ohio Refinery
BP PLC said two employees have died after suffering injuries in a fire at its Husky Toledo Refinery in Ohio.
The London-based oil company said Wednesday that it had shut down the refinery, which it operates. It owns a 50% stake in the facility.
Write to hoishan.chan@dowjones.com
Expected Major Events for Thursday
06:00/DEN: Sep Consumer expectations
06:00/SWE: 2Q Financial accounts
06:00/NOR: Jul Labour force survey SA, incl unemployment
06:45/FRA: Sep Monthly business survey (goods-producing industries)
07:00/SPN: Jul Industrial Orders & Turnover
07:00/HUN: Aug Employment & unemployment
07:30/SWI: Swiss National Bank monetary policy assessment
08:00/NOR: Norges Bank monetary policy decision and presentation of Monetary Policy Report
08:00/ICE: Aug Labour Force Survey
08:30/UK: 2Q Business Finance Review
09:00/MLT: Aug RPI
11:00/UK: 3Q Agents' Summary of Business Conditions
11:00/UK: UK interest rate decision
11:00/TUR: Turkish interest rate decision
12:00/POL: Aug Broad money M3
13:00/BEL: Sep Consumer Confidence Survey
14:00/EU: Sep FCCI Flash Consumer Confidence Indicator
14:00/DEN: Aug Central Government Finance & Debt
16:59/HUN: 2Q Balance of Payments
23:01/UK: Sep UK Consumer Confidence Survey
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(END) Dow Jones Newswires
09-22-22 0019ET
