Exxon CEO Warns Biden Administration Against Limiting Fuel Exports

Exxon Mobil Corp. is pushing back against reductions of US fuel exports urged by the Biden administration in August, arguing that restricting shipments would further squeeze global supplies and lift pump prices at home. Exxon XOM -0.20% told the Energy Department this week that the oil industry should not slow fuel shipments in favor of … Read more

Phil Collins and Genesis Bandmates Sell Music Rights for Over $300 Million

Take a look at Phil Collins now. The English rocker and his Genesis bandmates have agreed to sell a bundle of their music rights to Concord Music Group Inc., according to the company. The megadeal—valued at over $300 million, according to people familiar with the transaction—includes the publishing copyrights and a mix of recorded music … Read more

Phil Collins and Genesis Bandmates Sell Music Rights for Over $300 Million

Take a look at Phil Collins now. The English rocker and his Genesis bandmates have agreed to sell a bundle of their music rights to Concord Music Group Inc., according to the company. The megadeal—valued at over $300 million, according to people familiar with the transaction—includes the publishing copyrights and a mix of recorded music … Read more

Crypto Fugitive Do Kwon’s Firm Accuses Korean Prosecutors of Overreach

The firm behind failed cryptocurrencies TerraUSD and Luna accused South Korean prosecutors of overreaching their authority, two weeks after they issued a warrant for the arrest of its chief executive, Do Kwon. Terraform Labs Pte. Ltd. laid out mr. Kwon’s defense in a statement sent to The Wall Street Journal on Wednesday. A spokesman for … Read more

Chinese Company Aims to Sell 3 US Resorts for $1.3 Billion

A Chinese company is looking to sell three major US resort hotels at a combined price tag of $1.3 billion, seeking to cash out these holdings during a powerful surge in leisure travel and resort business. Dajia Insurance Group Co. is putting up for sale the Montage in Laguna Beach, Calif., the Four Seasons resort … Read more

Humana, Other Potential Buyers Circle Cano Health

Humana Inc. HUM 0.67% and other possible buyers are circling Cano Health Inc., CANO 32.17% according to people familiar with the situation, as healthcare heavyweights scramble to snap up primary-care providers. The talks are serious and a deal to purchase Cano could be struck in the next several weeks, assuming the negotiations don’t fall apart, … Read more

The Luxury Home Market Posts Its Biggest Decline in a Decade. “It’s Like Crickets.”

When Nancy Lam upgraded in January to a home closer to her child’s school in the San Francisco Bay Area, she thought she had plenty of time to list her old house, a five-bedroom modern home in the sought-after suburb of Lafayette. After all, the pandemic had sent the luxury housing market soaring, and homes … Read more

Meta Quietly Reduces Staff in Cost-Cutting Push

Meta Platforms Inc. META -2.72% is planning to cut expenses by at least 10% in the coming months, in part through staff reductions, as the social-media giant confronts stalling growth and increased competition, according to people familiar with the company’s plans. The Menlo Park, Calif., company has begun quietly nudging out a significant number of … Read more

Meta and Google Are Cutting Staff. Just Don’t Mention Layoffs.

In response to stalling growth and intense competition, Meta META -1.75% Platforms Inc. executives have spoken of cost cuts, hiring freezes and “ruthless prioritization.” One word the company hasn’t used: layoffs. But Meta has begun quietly nudging out a significant number of staff by reorganizing departments and giving affected employees a limited window to apply … Read more