Top stories: Top business news of the day – Tuesday, 1:00 p.m. ET

TikTok to Shut Down Short-Lived Music-Streaming Service

The service is set to shut down in November, ending a year-long attempt to compete with Spotify and Apple.

 
Smartsheet to Be Taken Private by PE Firms in $8.4 Billion Deal

Smartsheet has agreed to be acquired and privatized by Blackstone and Vista Equity Partners in an all-cash transaction valued at approximately $8.4 billion.

 
AutoZone's stock falls after a rare profit miss, as U.S. sales come up short

AutoZone shares fell Tuesday after the auto parts retailer reported a rise in quarterly profit and sales that fell short of expectations, as U.S. results continued to fall short of expectations.

 
Visa Stock Falls on Reports of Looming Antitrust Lawsuit. The Case Could Weigh on Shares for a While, Analysts Say.

Reports say the U.S. Department of Justice’s antitrust division could file the lawsuit as early as Tuesday.

 
Levi's goal of up to $10 billion in annual revenue by 2027 will be pushed back

Levi Strauss & Co.’s goal of reaching $9 billion to $10 billion in annual revenue by 2027 will be pushed back as the denim company continues to feel pressure from its customers after a long period of inflation, new Chief Executive Michelle Gass told the Financial Times.

 
SEC Issues $88 Million Fine Against 12 Firms for Recordkeeping Failures

The Securities and Exchange Commission said 12 companies have agreed to pay a combined civil penalty of $88.3 million for violating recordkeeping provisions under federal securities laws.

 
Beijing Threatens to Block Calvin Klein Owner's Access to China

The possibility of PVH being placed on the “untrustworthy entities list” is the result of the challenge posed by the United States to Chinese companies.

 
Trump Issues Fresh Trade Threats, Targeting Deere

Republican presidential candidate calls for 200 percent tariff on Mexican-made goods previously made in the U.S.

 
Liberty Broadband Stock Spikes. It May Merge With Charter.

As reported on Tuesday morning, the company has made a counterproposal to Charter.

 
Deutsche Post on Track to Meet Guidance After Unveiling New Strategy

The German logistics group, also known as DHL, will focus on high-growth sectors while simplifying its legal structure, targeting a 50 percent increase in revenue by 2030 compared with 2023.

(END) Dow Jones Newswires

September 24, 2024, 1:15 PM ET (5:15 PM GMT)