Wall Street Journal - Oct 11
Oct 11 (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.
- China-owned social-media platform TikTok is laying off employees as part of a revamp of its content-moderation operations. It plans to invest $2 billion globally in trust and safety initiatives in 2024, aiming to improve efficacy.
- Jeep and Ram-maker Stellantis STLAM.MI on Thursday said Chief Executive Carlos Tavares will retire in early 2026 when his contract expires, and outlined a broader management shake-up as the carmaker battles tumbling profit and market share.
- TD Bank's TD.TO guilty plea and $3 billion in penalties show the high price banks can pay if they fail to comply with anti-money-laundering regulations designed to stop criminal groups from moving the proceeds of drug sales and other illicit activity through the U.S. financial system.
- Nike NKE.N appointed Tom Peddie as the general manager of its struggling North America operations, succeeding Scott Uzzell on Oct. 21 and days ahead of incoming Chief Executive Elliott Hill's first day on the job.
- Teva Pharmaceutical Industries TEVA.TA will pay $450 million to resolve allegations that the generic drug manufacturer submitted false claims and violated a federal law that prohibits the payment of kickbacks to generate federal healthcare business or induce patient referrals.
(Compiled by Bengaluru newsroom)
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