Rio Tinto Cautions on Economic Outlook

Rio Tinto sounded a cautious note on the global economic outlook, even as it reported a lift in shipments of its flagship product iron ore, the main ingredient in steel. 


 
SEC Probes Better.com After Lawsuit Alleges It Misled Investors

A former executive alleged in the lawsuit that the company misled investors in financial filings and other representations it made as it attempted to go public. 


 
Celsius Owes Users More Than $4.7 Billion

Celsius Network LLC has a roughly $1.2 billion hole in its balance sheet, with the majority of its liabilities owed to the cryptocurrency lender's users, according to a Thursday filing by Chief Executive Alex Mashinsky. 


 
Elliott Sets Sights on Pinterest

Activist investor Elliott Management has taken a big stake in Pinterest, people familiar with the matter say, as the once-hot social-media company grapples with a decline in users and other challenges. 


 
NFT Marketplace OpenSea to Lay Off 20% of Employees

The crash in cryptocurrency prices continues to wreak havoc on digital-asset firms. 


 
Bank of America Fined $225 Million for Mishandling Unemployment Benefits

Federal regulators said the bank also must compensate people whose access to funds during the pandemic was denied or delayed. 


 
JPMorgan Chase Sees Economic Turmoil Brewing, but Few Signs of Recession So Far

Second-quarter profit at JPMorgan fell 28% even as the nation's largest bank said it is seeing few signs a recession is imminent, underscoring the uncertainty looming over markets and the economy. 


 
Amazon Proposes Settlement of EU Antitrust Charges on Seller Data

The online retailer has proposed concessions to settle two antitrust cases against it in the European Union, a fresh sign of changing strategy from big tech companies after the bloc passed a strict new digital-competition law. 


 
Twitter Services Restored After Widespread Outage

The social-media platform said that its service should be working as expected. 


 
Stripe Cuts Its Valuation by 28%

The payments giant was last valued by private investors at $95 billion, making it one of the most valuable U.S. startups.


(END) Dow Jones Newswires

07-14-22 2115ET