Top Financial Stories Wednesday, September 14: Multiple Antitrust Setbacks For Google, Bitcoin Crashes, Visa Finds New Gun Control System Ineffective And More…

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Reuters

Google And Facebook Parent Fined Millions Of Dollars By South Korea Over Privacy Law Violations

  • South Korea has imposed fines to the tune of millions of dollars on Alphabet Inc's (NASDAQ: GOOG) (NASDAQ: GOOGL) Google and Meta Platforms Inc (NASDAQ: META) following accusations of privacy law violations.
  • The Personal Information Protection Commission said it fined Google 69.2 billion won ($50 million) and Meta 30.8 billion won ($22 million).

COVID-19 Vaccine Supply To China? Moderna CEO Says Capacity Available

  • Moderna Inc's (NASDAQ: MRNA) CEO Stephane Bancel said the company has talked with the Chinese government about supplying COVID-19 vaccines, but no decision has been made.
  • "We are open. We have the capacity," Bancel said but declined to say whether Moderna had submitted its vaccine for approval in the country.

Bed Bath & Beyond's Interim CEO To Remain In The Job For At Least A Year

  • Bed Bath & Beyond Inc's (NASDAQ: BBBY) interim Chief Executive Officer Sue Gove is likely to stay in the job for at least twelve months.
  • The report noted that the retailer will not pick a new leader until well into 2023, citing two sources familiar with the matter.
  • Gove was named the interim CEO in June, replacing Mark Tritton, following a sales slump.

Bloomberg

Visa Finds New Gun Control System As Ineffective To Check Mass Shootings

  • Visa Inc (NYSE: V) warned against the new system that gun-control proponents saw as restricting mass shootings.
  • The International Organization for Standardization approved a new merchant category code that banks will use when processing transactions for gun and ammunition stores. The MCC will likely help banks flag suspicious activity at these retailers.
  • However, Visa found that MCC lacks access to data showing what products consumers are buying.

After Investor Flak, German Healthcare Giant Bayer Starts Hunt For New CEO

  • Bayer AG (OTC: BAYRY) has started a hunt for CEO Werner Baumann's successor.
  • The new CEO search may portend an early departure for Baumann, whose contract with Bayer isn't set to expire until April 2024.
  • Bayer's chairman Norbert Winkeljohann is looking at prospects inside and outside the company to advance a new CEO candidate in time for Bayer's next shareholder meeting in April 2023.

Tencent Music Pushes Hong Kong Listing As Soon As Next Week

  • Tencent Music Entertainment Group (NYSE: TME) is working with advisers on the preparations for its second listing in Hong Kong, intending to start trading as soon as next week.
  • The company said marketing activities could start as early as in the coming days.

CNBC

<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/09/28862015/warner-bros-discovery-embraces-more-aggression-including-price-hikes-while-netflix-goes-on-an-auster" …

Full story available on Benzinga.com

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