Top stories: Top business news of the day – Friday at 11:00 a.m. ET

Morgan Stanley Is Fined Over First Republic Insider Sales

The Massachusetts securities regulator found numerous irregularities in the bank’s process for approving and monitoring possible insider trading.

 
Telegram CEO Hits Back at French Charges

The tech entrepreneur denied that the platform had refused to cooperate with European authorities to combat illegal content and said it removes millions of posts every day.

 
Pandemic Darling Moderna Needs a Reality Check

Moderna is aggressively spending money to expand applications for its mRNA technology. Investors are losing patience.

 
Chinese Brokerages to Merge, Creating a $228 Billion Entity

Efforts to consolidate China’s financial services sector took a major step forward when the two largest state-owned brokerage firms agreed to merge, creating a giant with assets worth about $228 billion.

 
One Bargain You Can't Find at Costco Is Its Stock-Does That Matter?

Charlie Munger’s excellent retail store is as high-quality as it gets, but history shows that even great businesses fail.

 
Google Might Have Breached Competition Law Over Digital Ads, U.K. Watchdog Says

British competition officials have said Alphabet subsidiary Google may be restricting competition by favouring its own ad technology services, which publishers and advertisers use to bid on and sell advertising space.

 
7-Eleven Parent Rejects $39 Billion Buyout Offer by Circle K Owner

Seven & i Holdings said the offer for Canadian company Alimentation Couche-Tard undervalued the Japanese convenience store operator.

 
Apple's iPhone Event Is Near. The Stock Could Use a Boost.

According to Dow Jones Market Data, since the launch of the first iPhone in 2007, the company’s stock value has fallen by an average of 0.3% on announcement day.

 
Salesforce to Buy Data Protection/Data Management Business Own Company

Salesforce has agreed to acquire Own Company, a data protection and management company, for approximately $1.9 billion in cash, net of the value of the approximately 10% stake that Salesforce currently owns.

 
Sixth Street Buys Out Legacy TPG Stake

The purchase of a 10% stake marks the final parting of an investment and partnership that has lasted over a decade.

(END) Dow Jones Newswires

September 6, 2024, 11:15 ET (15:15 GMT)