PRESS DIGEST - Wall Street Journal - May 11

Reuters · 05/11/2023 05:26
PRESS DIGEST - Wall Street Journal - May 11

- The following are the top stories in the Wall Street Journal. Reuters has verified these stories and does vouch for their accuracy.

- ByteDance, TikTok's Chinese parent, has delayed the rollout of its shopping platform in the U.S. as concerns over the video-sharing app's future deter merchants from joining, dragging on the company's plans to earn more money from its prize global asset.

- The U.S. government is investigating whether Rockwell Automation Inc ROK.N, is exposing critical U.S. infrastructure, military and other government assets to a potentially serious cyberattack through one of its China-based facilities, according to U.S. officials and documents reviewed by The Wall Street Journal.

- Microsoft Corp MSFT.O said on Wednesday it will raise salaries for full-time employees this year, citing tough economic conditions, but will continue with its bonuses, stock awards and promotions.

- Alphabet Inc's GOOGL.O Google is rolling out more artificial intelligence for its core search product, hoping to create some of the same consumer excitement generated by Microsoft Corp's MSFT.O update to rival search engine Bing in recent months.

- U.S. Rep. George Santos, accused of fabricating much of his life's story to secure public office, was indicted Wednesday on federal charges that he embezzled contributions, fraudulently obtained unemployment benefits and filed false federal disclosure forms.

- Activist investor Carl Icahn disclosed that his investment company is under investigation by federal prosecutors and went on the attack against the short seller that likely spurred the inquiry, accusing it of "wantonly destroying property and harming innocent civilians."

(Compiled by Bengaluru )