Abbott's $5 Covid-19 Rapid Antigen Test Gets Emergency-Use Status From FDA

The Food and Drug Administration has granted emergency-use authorization to Abbott Laboratories for a $5 rapid-response Covid-19 antigen test that is roughly the size of a credit card. 


 
Builders FirstSource and BMC Stock Holdings Near Merger Deal

An agreement to combine two of the largest suppliers of residential building materials could be announced Thursday, said people familiar with the matter. 


 
TikTok CEO Kevin Mayer Quits as Trump Pushes Chinese App to Sell U.S. Business

Chief Executive Kevin Mayer said he is leaving the social-media platform after being on the job for about three months, as the company comes under increasing pressure from the White House over its ties to China. 


 
Rolls-Royce Plans GBP2 Bln Disposals to Boost Balance Sheet

Rolls-Royce said that it has identified up to 2 billion pounds ($2.64 billion) of potential disposals over the next 18 months as it seeks to shore up its balance sheet, while it continues to bleed cash. 


 
WPP 2Q Swings to 1H Pretax Loss

WPP said that like-for-like net sales fell 15% in the second quarter as cost-conscious clients tightened their advertising budgets, and swung to a first-half pretax loss on coronavirus-related charges. 


 
China's Xpeng to Raise $1.5 Billion From U.S. Listing

Xpeng will now raise $1.5 billion through an initial public offering in the U.S., more than initially planned, to meet high demand for the electric car maker's stock, people familiar with the deal said Thursday. 


 
Salesforce Notifies Some Staff of Job Cuts

Salesforce.com has started to notify some of its staff they could lose their jobs a day after the business-software provider reported record sales, sending its stock surging. 


 
Facebook Says Apple's New iPhone Update Will Disrupt Online Advertising

Facebook says privacy changes that Apple has made to its newest operating system will cripple the social-media giant's ability to serve targeted ads to iPhone users while they use outside apps. 


 
Chinese Phone Maker Xiaomi Taps New Finance Chief

The Beijing-based company hired Alain Lam, an investment banker, as it looks to grow its profit margins. 


 
Moderna Says Covid-19 Vaccine Shows Signs of Working in Older Adults

Moderna said its experimental coronavirus vaccine induced immune responses in people aged 56 years and older that were comparable to those seen in younger adults in a small study.