News Highlights: Top Company News of the Day - Wednesday at 11 AM ET

BYD's Rise Challenges Tesla-and Its Valuation

BYD and Tesla have a lot in common these days-except in terms of market value, where the U.S. company is roughly seven times as big.

Kimberly Clark Reorganizes, Setting Long-Term Growth Targets

The maker of Kleenex is aiming for adjusted EPS to grow in the mid-to-high single digits over the long term.

VIP Programs Offered by Online Gambling Companies Draw Federal Scrutiny

Following WSJ report, Sen. Richard Blumenthal asks FanDuel, DraftKings, others how they target big spenders and VIPs.

Carnival Raises Profit Guidance, Warns on Hit From Baltimore Bridge Collapse

The cruise operator raised its full-year adjusted earnings guidance and warned of profit risk from the bridge collapse.

Merck's $11.5 Billion Bet on Its Next Big Drug Finally Arrives

The newly approved drug, which treats potentially fatal pulmonary arterial hypertension, is estimated to ring up as much as $7.5 billion in yearly sales.

Apple Turns to Longtime Steve Jobs Disciple to Defend Its 'Walled Garden'

Former Chief Marketing Officer Phil Schiller has frequently made it clear that Apple doesn't intend to yield to developer criticism

Can Apple and AI Make Baidu Cool Again?

China's search leader was long viewed as an also-ran. Shifting political and technological winds might change that.

Musk's xAI to Make Grok Chatbot Available to All Premium X Users

Elon Musk's artificial-intelligence company will make its Grok chatbot available to all premium subscribers of social-media platform X.

UBS, Apollo Complete Securitization Unit Deal

UBS and Apollo Global Management have finalized a deal to offload Credit Suisse's former securitized products business, as the Swiss bank continues its integration after the takeover.

KuCoin and Its Founders Face Criminal Charges Over Money-Laundering Violations

U.S. prosecutors have filed criminal charges against KuCoin and two of its founders, accusing the global cryptocurrency exchange of violating U.S. anti-money-laundering laws.