Press Digest: Wall Street Journal - Feb. 16

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16/02/2024 06:22

Feb 16 (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.
    
    - Nike  NKE.N  on Thursday said that it will reduce its
workforce by about 2%, or more than 1,600 people, in a bid to
cut costs.
    
    - Microsoft-backed OpenAI is working on a software that can
generate minute-long videos based on text prompts, the company
said on Thursday.
    
    - Lucid  LCID.O  on Thursday cut the starting price of its
Air sedan by 10%, to $69,900, the second reduction for the
vehicle in two months.
    
    - DraftKings  DKNG.O  plans to acquire lottery app
Jackpocket for about $750 million in cash and stock in a deal
that will allow the sports-betting giant to expand into lottery
games.
        
  
        - Toast  TOST.N  said it will cut about 550 employees in
a restructuring meant to slash expenses.

        - Wells Fargo  WFC.N  said the U.S. Office of the
Comptroller of the Currency has terminated a 2016 punishment for
the bank’s sales practices, the bank said, after it spent years
trying to repair the damage from a fake accounts scandal
        
  
        
  

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