Top stories: Top business news of the day – Wednesday, 3:00 p.m. ET

Verizon Nearing Deal for Frontier Communications

Verizon is in advanced talks to acquire Frontier Communications, a move that would bolster the company’s fiber network and allow it to compete with rivals including AT&T.

 
Nordstrom Family Bids Again to Take Retailer Private

The $3.8 billion bid is the family’s latest attempt to gain control of the ailing department store chain.

 
SpaceX Pulls Employees From Brazil, Discourages Travel There, as Musk Battles Court Over X

The actions show how Musk’s legal dispute over X is affecting SpaceX and its Starlink satellite-internet service.

 
Volvo Backtracks on All-Electric Lineup as EV Market Challenges Pile Up

Volvo Car has abandoned its goal of having an all-electric offering by the end of the decade, saying it will likely still sell some hybrid models as the market faces an increasingly difficult transition towards electric vehicles.

 
Lyft to Lay Off Employees to Cut Down Bikes, Scooters Division

Lyft said it is once again cutting jobs as part of another wave of layoffs, eliminating dockless bikes and scooters from its offerings.

 
Microsoft Spared U.K. Antitrust Probe Over Ties to Inflection AI

British antitrust officials have said Microsoft’s links to Inflection AI do not pose a competition risk, a victory for the tech giant, which has faced significant regulatory scrutiny on both sides of the Atlantic.

 
Dollar Tree Stock Falls 20%. We Knew Earnings Would Be Bad-They Were Worse.

Dollar Tree lowered its profit and revenue forecasts for the next fiscal year.

 
Dick's Sporting Goods Raises Its Outlook. The Stock Is Falling.

The sporting goods retailer reported second-quarter earnings of $4.37 per share, topping Wall Street expectations of $3.86.

 
U.S. Steel Warns of Plant Closings if Sale Collapses

The company said it would likely move its headquarters outside of Pittsburgh if Nippon Steel fails to complete the $14.1 billion purchase.

 
For Volkswagen, the Bumpy Road to Electric Vehicles Starts to Hit Home

The car giant is considering cuts it has long avoided in Germany as it grapples with lukewarm interest in the pricey technology.

(END) Dow Jones Newswires

September 4, 2024, 15:15 ET (19:15 GMT)