The Wall Street Journal: AC Milan soccer team taken over by hedge fund Elliott Management

The Wall Street Journal: AC Milan soccer team taken over by hedge fund Elliott Management
American billionaire Paul Singer’s Elliott Management Corp. promised an initial €50 million cash injection into Italian soccer team AC Milan, providing a much-needed lifeline to the storied team that is fighting a sanction that would keep it out of the Europa League this season. AC Milan’s new owner said Tuesday that the equity capital — and promises for more down... Read More

Encore: Some bad news about retirement savings: 401(k) balances increased very little in the last 10 years

Encore: Some bad news about retirement savings: 401(k) balances increased very little in the last 10 years
One of my favorite publications just came out: “How America Saves.” This annual report from Vanguard summarizes the statistics for the defined-contribution plans that the company administers. Vanguard tends to administer larger plans, so the plans are better-designed than average and participants have higher incomes. In other words, it presents the best face of the 401(k) system. In 2017, the... Read More

The Wall Street Journal: Apple’s new AI chief, John Giannandrea, to oversee Siri

The Wall Street Journal: Apple’s new AI chief, John Giannandrea, to oversee Siri
Apple Inc. is handing oversight of its Siri team to new artificial-intelligence chief John Giannandrea three months after hiring him from rival Google, shifting responsibility for the voice-assistant technology to its third leader in the past year. Apple AAPL, -0.12%   announced Giannandrea’s hiring internally in early April but hadn’t publicly laid out his responsibilities until Tuesday, when it added... Read More

The Wall Street Journal: Bytedance, owner of China’s top news app, mulling huge IPO

The Wall Street Journal: Bytedance, owner of China’s top news app, mulling huge IPO
The owner of China’s most popular news-aggregation app is holding discussions about a multibillion-dollar initial public offering that could take place this year, according to people familiar with the matter. Beijing Bytedance Technology Co. is considering a Hong Kong IPO that may value it at over $45 billion, the people said. It isn’t clear how much Bytedance intends to raise,... Read More

The Wall Street Journal: Lawmakers ask Google to answer Gmail privacy concerns

The Wall Street Journal: Lawmakers ask Google to answer Gmail privacy concerns
WASHINGTON — Senior lawmakers requested answers from Alphabet Inc. on Tuesday about its privacy questions surrounding Gmail, the company’s popular email service. In a letter from Senate Commerce Committee Chairman John Thune, R-S.D., and two subcommittee chairmen, the lawmakers asked Larry Page, Alphabet’s chief executive, to explain the company’s practice of allowing third-party app developers to scan email contents for... Read More

The Wall Street Journal: Judge orders government to reunite migrant families quicker

The Wall Street Journal: Judge orders government to reunite migrant families quicker
A federal judge Tuesday ordered the Trump administration to quicken its efforts to reunite migrant toddlers and infants with their parents, after the government said it wouldn’t meet an order that the judge called “firm deadlines, not aspirational goals.” Federal agencies said that by Tuesday they would only be able to reunite adults with 38 out of the 102 children... Read More

The Wall Street Journal: Pfizer agrees to postpone drug-price hikes after talk with Trump

The Wall Street Journal: Pfizer agrees to postpone drug-price hikes after talk with Trump
Pfizer Inc. said Tuesday that it would “defer” some recent drug-price increases, reversing course after President Donald Trump criticized the company. The New York-based drugmaker, one of the world’s biggest pharmaceutical companies by sales, faced criticism from President Trump and others after raising the prices of more than 40 drugs last week. Pfizer backtracked after Chief Executive Ian Read spoke... Read More