Yahoo Finance PRESS DIGEST- Wall Street Journal - May 2
May 2 (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.
- Microsoft will invest $2.2 billion in cloud and artificial-intelligence infrastructure in Malaysia.
- Federal Reserve Chair Jerome Powell tried to keep the central bank's options open on Wednesday by sticking with his view that interest rates are restrictive and that inflation was likely to resume its decline.
- Exxon Mobil is set to close its $60 billion megadeal for Pioneer Natural Resources following an agreement with antitrust enforcers not to add former Pioneer Chief Executive Officer Scott Sheffield to its board of directors.
- The U.S. Congress aggressively questioned UnitedHealth Group's response to the hacking of its Change Healthcare unit in hearings on Wednesday, criticizing the company's cybersecurity preparations and asking whether its size puts the healthcare sector at risk.
- Emergent BioSolutions is closing several manufacturing facilities and cutting hundreds of jobs as part of a restructuring as the company narrows its focus on products, including Narcan nasal spray.
- The Commodity Futures Trading Commission has named Ted Kaouk as its first chief artificial intelligence officer, responding to the President Biden administration's push to govern the use of AI across the federal government.
(Compiled by Bengaluru newsroom)
