6 Most Important Things in Business Today

By Douglas A. McIntyre Updated Mar 13, 3:30PM EDT · Published Aug 2, 5:05AM EDT

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Google may censor some of its results to move into the Chinese market. According to Reuters:

Alphabet Inc’s Google plans to launch a version of its search engine in China that will block some websites and search terms, two sources said, in a move that could mark its return to a market it abandoned eight years ago on censorship concerns.

The plan comes even as China has stepped up scrutiny into business dealings involving U.S. tech firms including Facebook Inc, Apple Inc and Qualcomm Inc amid intensifying trade tensions between Beijing and Washington.

CBS Corp. (NYSE: CBS) has hired lawyers to examine sexual harassment charges against CEO Les Moonves. According to Reuters:

CBS Corp said on Wednesday it retained two law firms for a full investigation into the allegations about Chairman and Chief Executive Leslie Moonves, CBS News and cultural issues in the company.

The board has also set up a special committee to help the probe, and Moonves will have no role in the investigation, CBS said in a statement.

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Tesla Inc. (NASDAQ: TSLA) said it was close to making a profit as it announced second-quarter earnings. According to The Wall Street Journal:

Tesla Inc. reassured investors it would achieve a profit later this year, as a rush of Model 3 sales in the second quarter helped the electric-car maker burn less cash than expected.

The results, which sent Tesla’s shares soaring in after-hours trading Wednesday, should give Chief Executive Elon Musk some wiggle room to prove that a continued production rate of more than 5,000 Model 3s a week during the third quarter can make the auto maker cash-flow positive and profitable. He made that promise earlier this year and reiterated it Wednesday in a letter to shareholders, though many analysts doubt it can be kept.

Carl Icahn will vote against a Cigna Corp. (NYSE: CI) M&A plan. According to The Wall Street Journal:

Activist investor Carl Icahn has built a sizable stake in Cigna Corp. and plans to vote against the health insurer’s $54 billion purchase of Express Scripts Holding Co., the latest sign of trouble for the planned tie-up.

Mr. Icahn, whose stake amounts to less than 5% of Cigna’s shares outstanding, believes the company is paying too high a price for the pharmacy-benefit manager, which faces threats on a number of fronts, according to people familiar with the matter.

Kroger Co. (NYSE: KR) will get into the grocery delivery business. According to The Wall Street Journal:

Kroger Co. is launching a grocery delivery service, its fourth e-commerce offensive in less than three months, as the U.S.’s largest supermarket chain seeks to remain relevant in a fiercely competitive grocery sector.

Kroger is looking to take on Amazon.com Inc. and Walmart Inc. in delivering goods directly to customers’ homes and businesses in boxes through third-party carriers, a service it hasn’t competed in to date.

Troubled publisher Conde Nast will put three magazines up for sale. According to The New York Times:

The company lost more than $120 million last year and plans to put three of its 14 magazines — Brides, Golf Digest and W — up for sale, three executives said. The marquee titles, including Vogue, Vanity Fair and The New Yorker, are safe.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.