Wall Street Journal - June 27
June 27 (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.
- Tobacco giant Altria Group MO.N has submitted a premarket tobacco product application for its on! Plus oral nicotine pouches to the U.S. Food and Drug Administration.
- Former Outcome Health CEO Rishi Shah was sentenced to seven-and-a-half years in prison for his part in what prosecutors called a billion-dollar fraud scheme centered on video advertisements in doctors' offices.
- A U.S. bankruptcy judge said he expects to rule that aerospace parts supplier Incora's 2022 financing deal with Silver Point Capital, Pimco and other investors was unauthorized and illegal under its debt agreements, in a closely watched case on the limits of aggressive financing.
- A board member of Bed Bath & Beyond was concerned that some of her fellow directors shared inside information with Ryan Cohen before the investor abruptly dumped his stake in the company two years ago.
- Big U.S. banks passed their latest annual stress test, with the Federal Reserve finding they would be able to continue lending to households and businesses in a severe recession, even while suffering steeper losses than last year's tests.
- The Financial Accounting Standards Board voted to require U.S. publicly traded businesses to break out things like inventory purchases and employee compensation spending in the footnotes of their financial statements, giving investors more insight into companies' operations.
(Compiled by Bengaluru newsroom)
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