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After months of drama that we dutifully catalogued right here, the U.S. plan to “force the sale of TikTok’s American operations” to Oracle and Walmart “has been shelved indefinitely.” The forced sale has “languished since last fall in the midst of successful legal challenges to the U.S. government’s effort by TikTok’s owner, China’s ByteDance Ltd.” - WSJ
Chinese tech giant Huawei has filed a 5th Circuit lawsuit asking the court to review “an FCC ruling last year that found the company poses a national security threat” and blocking American telecom companies from “accessing a multibillion-dollar fund to buy Huawei-made telecom gear.” The suit calls the FCC’s order “arbitrary, capricious, and an abuse of discretion” - WSJ
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(Reuters) - Eli Lilly and Co said on Tuesday Chief Financial Officer Josh Smiley had resigned after allegations about a personal relationship sparked an investigation that found “inappropriate personal communication” with some company employees.
The Indianapolis-based drugmaker said it immediately hired external counsel to conduct an independent probe after it was made aware of the allegations. The investigation revealed consensual though inappropriate personal communications between Smiley and certain Lilly employees.
Lilly said the behavior exhibited poor judgment by Smiley. The company would not give further details on the communications or the number of employees involved.
Reuters could not immediately reach Smiley for comment. A LinkedIn search showed Smiley’s account, which he managed himself, was no longer available.
Eli Lilly Appoints Anat Ashkenazi To Succeed Josh Smiley As CFO
INDIANAPOLIS (dpa-AFX) - Eli Lilly and Co. (LLY) announced Tuesday the appointment of Anat Ashkenazi as senior vice president and chief financial officer. She most recently served in the role of senior vice president, controller and chief financial officer of Lilly Research Laboratories and has been with Lilly for nearly 20 years.
Previously, she served as chief financial officer for several of the company s global business areas. Prior to joining Lilly, she worked in financial services at Ma alot Standard & Poor s and at Ha poalim Bank in Israel.
Ashkenazi succeeds Josh Smiley, who has resigned as senior vice president and chief financial officer and will be leaving the company. The resignation of Smiley is attributed to allegations of an inappropriate personal relationship between him and an employee.
S&P 500, Dow miss out on new records and snap 6-day win streak MarketWatch 2/9/2021
MARKET SNAPSHOT
U.S. stocks ended mostly lower on Tuesday, capping a turbulent session that saw markets swing between small gains and losses, as momentum for a record-setting market rally slowed.
Investors were focused on the potential for another round of government spending to boost the economic recovery from the coronavirus pandemic.
What did major benchmarks do?
The Dow Jones Industrial Average fell 9.93 points, or less than 0.1%, to end at 31,375.83, after setting an intraday record of 31,439.47.
The S&P 500 closed down 4.36 points, or 0.1%, at 3,911.23, after recording an all-time intraday high of 3,918.35.