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News Highlights: Top Company News of the Day

08/09/2022 | 09:16pm EDT
Coinbase Posts Steep Second-Quarter Loss Amid Crypto Meltdown 
 

The largest U.S. crypto exchange posted its second consecutive quarter of losses, hurt by sharp loss in trading fees.

 
Chip Makers Expect Demand Slowdown to Expand Beyond PCs, Smartphones 
 

The White House committed to long-term U.S. chip expansion as companies are dialing down their near-term spending.

 
Commonwealth Bank of Australia's Profit Rises 
 

CBA posted a 6.0% rise in annual net profit driven partly by volume growth across its core home lending and business banking units, and a revision in pandemic-related provisions. The bank also raised its dividend.

 
Lenovo's Net Profit Rose on Strong Margins 
 

The Hong Kong-listed technology company reported that its net profit rose 11% to $516 million in the first quarter of the fiscal year as net margins hit an all time high.

 
BuzzFeed Expects Recession Fears to Pressure Advertising 
 

The digital media company posts 20% rise in revenue, boosted by sponsored-content growth.

 
Walmart Explores Adding Streaming Video to Walmart+ Membership Program 
 

The retailer has held talks with Disney, Comcast and Paramount about adding one of their services as a perk.

 
Former Twitter Employee Convicted of Spying for Saudi Arabia 
 

Ahmad Abouammo was found guilty of spying and money laundering.

 
Microsoft Curbs Spending on Travel, Gatherings in Bid to Reduce Costs 
 

Microsoft finance chief Amy Hood warned employees to keep an eye on budgets, with some spending on business travel, outside training and company gatherings being targeted in an effort to control costs in the current economic environment.

 
Disney Faces Questions on Streaming, Recession Fears at Theme Parks 
 

As the world's largest entertainment company prepares its quarterly update, CEO Bob Chapek is also likely to weigh in on a new slate of Marvel movies and plans for Star Wars.

 
U.S. Accuses China's Largest Cable Manufacturer of Violating Export Controls 
 

Far East Cable Co. helped Chinese telecoms company ZTE deliver restricted U.S. goods to Iran, the U.S. Commerce Department said.


(END) Dow Jones Newswires

08-09-22 2115ET

Stocks mentioned in the article
ChangeLast1st jan.
COINBASE GLOBAL, INC. 12.96% 74.5 Delayed Quote.-70.48%
COMCAST CORPORATION 1.18% 30.99 Delayed Quote.-38.43%
COMMONWEALTH BANK OF AUSTRALIA 2.64% 97.29 Delayed Quote.-6.15%
DIGITAL MEDIA SOLUTIONS, INC. 5.13% 2.05 Delayed Quote.-57.11%
MICROSOFT CORPORATION 3.38% 248.88 Delayed Quote.-28.42%
WALMART INC. 1.30% 134.25 Delayed Quote.-8.40%
WALT DISNEY COMPANY (THE) 4.44% 101.44 Delayed Quote.-37.29%
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