Press Digest: Wall Street Journal - July 26

PacWest Bancorp

26/07/2023 06:19

July 26 (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.
    
    - Alphabet's  GOOGL.O  Google said that its long-time CFO,
Ruth Porat, would become chief investment officer and president
starting Sept. 1 while the company sought a new finance chief.
    
    - Banc of California  BANC.N  and PacWest Bancorp  PACW.O 
will merge in an all-stock deal to create a bank with $36
billion in assets, the companies said on Tuesday, coming
together just months after the regional banking sector was mired
in crisis.
    
    - Social media platform X, the new name owner Elon Musk has
given Twitter, is offering new incentives on certain ad formats
in the U.S. and U.K. and warning brands that they will lose
their verified status unless they reach certain spending
thresholds.
    
    - UPS  UPS.N  and its Teamsters union have signed a
tentative contract deal for about 340,000 U.S. workers at the
parcel delivery firm.
        
  
        - British billionaire Joe Lewis has been criminally
charged in New York on insider-trading charges for allegedly
passing tips about companies in which he invested to friends,
personal assistants, private pilots and romantic partners,
enabling them to reap millions of dollars of profit.
        
  
        - RTX  RTX.N , formerly Raytheon, said a "significant
portion" of its Pratt & Whitney GTF engines that power Airbus
 AIR.PA  A320neo jets will need "accelerated removals and
inspections."

 (Compiled by Bengaluru newsroom)
 ((globalnewsmonitoring@thomsonreuters.com))