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Volvo Gives Tesla a Shock, As Others Plan Electric Push

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Volvo indicated Wednesday it is mounting an ambitious challenge to Tesla's electric cars. But the even tougher news for Tesla's billionaire founder, Elon Musk, is that the Scandinavian company isn't the only deep-pocketed rival planning to compete with the Silicon Valley pioneer.

FDA Suspends Certain Trials of Merck's Keytruda

The FDA suspended two clinical trials and a portion of a third testing Merck's Keytruda as a treatment for blood cancer, after more patients receiving the drug died than those receiving other treatments.

AIG CEO Taps Peter Zaffino as Key Lieutenant

American International Group CEO Brian Duperreault has hired former Marsh & McLennan colleague Peter Zaffino to be one of his top lieutenants, his first high-profile recruit since joining the insurance giant in May.

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After Two Aborted Attempts, SpaceX Launches Large Satellite Into Orbit

SpaceX blasted a large commercial communications satellite into orbit without a hitch, a successful attempt that followed a pair of last-second launch aborts over two days.

Alitalia Wins U.S. Bankruptcy Judge's Backing

A New York bankruptcy judge agreed to help safeguard Alitalia Spa's U.S. operations while the Italian airline searches for a buyer, approving a chapter 15 petition.

Nike's Challenge: Fire Up Sales While Staying Cool

Nike is looking for new ways to sell sneakers and shirts, but some industry watchers worry that the company's efforts to broaden its reach could damage its cultural cachet.

Tesla's Sales Raise New Fears Ahead of Model 3

Tesla shares took a beating after analysts questioned whether customer demand for its two electric vehicles is waning as the company begins producing a cheaper sedan.

Goldman Eyes Spinoff of Simon, an Online Tool for Bond Sales

Goldman Sachs Group Inc. is seeking to sell a stake in Simon, its two-year-old web app that sells complex financial products to retail investors

Judge Warns Shkreli on Speaking About Trial

A federal judge in Brooklyn told Martin Shkreli to stop speaking about his continuing securities-fraud trial in the vicinity of the courthouse after prosecutors sought a gag order.

Brooklyn Coffee Shop Locks Unicorn Horns With Starbucks

At the End Brooklyn, a tiny coffee shop in Williamsburg, a barista poured an opaque blue liquid into a plastic cup. The resulting drink, dubbed the Unicorn Latte, is the subject of a lawsuit between the End's parent company, Montauk Juice Factory and Starbucks.

(END) Dow Jones Newswires

July 06, 2017 05:16 ET (09:16 GMT)