Wall Street Journal - Aug 15
Aug 15 (Reuters) -The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.
- Warren Buffett’s Berkshire Hathaway BRKa.N took a stake in Ulta Beauty ULTA.O in the second quarter, while buying more shares of Chubb CB.BN and Occidental Petroleum OXY.N. His company cut its positions in Capital One FinancialCOF.N, T-Mobile TMUS.O and Floor & Decor Holdings FND.N.
- Mars’s nearly $30 billion deal for Kellanova K.N would push the company, known for M & M’s and Snickers, into supermarkets’ chips and cracker aisles, handing Mars a larger share of a growing global snacks business.
- Canadian National Railway CNR.TO has told customers it plans to halt intermodal traffic headed into Canada on its lines from Friday, extending a graduated shutdown of the railroad’s operations after talks with unionized workers stalled.
- Lingerie retailer Victoria's Secret VSCO.N tapped Hillary Super, chief executive officer of competitor Savage X Fenty, to be its next CEO succeeding Martin Waters who stepped down from the role after leading the company for three years.
- Eric Schmidt, ex-CEO and executive chairman at Google GOOGL.O, walked back remarks in which he said his former company was losing the artificial intelligence race because of its remote-work policies. "I misspoke about Google and their work hours," Schmidt said Wednesday in an email to The Wall Street Journal.
- The U.S. consumer-price index rose 2.9% from a year earlier, the Labor Department said Wednesday, the lowest reading since 2021, sealing the case for the Federal Reserve to cut interest rates at its meeting next month.
(Compiled by Bengaluru newsroom)
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