PRESS DIGEST-Wall Street Journal - December 3

Reuters12-03

PRESS DIGEST-Wall Street Journal - December 3

Dec 3 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.

- San Francisco sued Kraft KHC.O, Mondelez MDLZ.O, Coca-Cola KO.N and other makers of ultra-processed foods on Tuesday, accusing them of knowingly sickening California residents with addictive and harmful products.

- Sportswear retailer Nike NKE.N appointed Venkatesh Alagirisamy as chief operating officer and eliminated its chief technology officer role. Muge Dogan will leave the company as a result.

- HSBC Holdings HSBA.L named Brendan Nelson as its new chairman on Wednesday, replacing Mark Tucker, in a return to the custom of appointing the head of its board from within its ranks.

- Saudi Arabia’s government investment fund is poised to take almost full ownership of Electronic Arts EA.O.

- Marvell Technology MRVL.O agreed to acquire Celestial AI in a cash and stock deal valued at $3.25 billion in a bid to help the semiconductor company build out its AI and cloud data center business.

- Kalshi, a prediction market platform, raised $1 billion at an $11 billion valuation in a financing round led by Paradigm.

(Compiled by Bengaluru newsroom)

((globalnewsmonitoring@thomsonreuters.com))

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