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News Highlights : Top Company News of the Day

06/15/2021 | 09:16pm EDT
Alibaba Falls Victim in Large Data Leak 

A Chinese software developer trawled the popular Taobao shopping website for eight months, collecting more than 1.1 billion pieces of user information including IDs and phone numbers, a Chinese court verdict said.

Southwest Airlines Flights Thrown Into Disarray by Technical Problems 

The second day in a row of disruptions led the airline to cancel 500 flights.

Oracle Reports Record Annual Profit, Revenue 

Oracle Corp. reported an 8% revenue increase in the latest period, ending the year with a record $40.48 billion in revenue.

Platinum Equity Strikes Deal to Buy McGraw Hill From Apollo 

The deal for the textbook publisher and educational-technology company is valued at about $4.5 billion, including debt.

Lordstown Motors Looks to Reset Its Course a Day After CEO's Exit 

Executives at the troubled startup say there is plenty of interest in its all-electric truck and production is on track to start in September.

EU Excludes Some Big Banks From Landmark Bond Program 

The European Union excluded some of the world's largest banks, including JPMorgan Chase and Bank of America, from working on a nearly $1 trillion coronavirus relief bond program, citing recent cases in which regulators punished them for forming cartels.

DraftKings Shares Fall After Research Firm Unveils Short Position 

Short seller Hindenburg Research alleges that the sports-betting company's gambling-technology subsidiary operates in countries where gambling is banned, an allegation that DraftKings denies.

Neiman Marcus Rides a Rebound in Luxury Shoppers 

After a trip through bankruptcy in 2020, the retailer plans to invest $500 million to refresh stores and improve its digital business.

PwC to Spend $12 Billion on Hiring, Expanding Expertise in AI, Cybersecurity 

PricewaterhouseCoopers plans to spend $12 billion and hire 100,000 new people in areas such as artificial intelligence and cybersecurity by 2026, the latest move by a Big Four accounting firm to bet big on technology.

New Book Publisher Caters to Conservative Voices 

All Seasons Press, led by two industry veterans, backs right-wing authors as mainstream houses face growing disputes over editorial decisions.

(END) Dow Jones Newswires

06-15-21 2115ET

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