Nissan to take key stake in scandal-hit Mitsubishi Motors, sources say and other top stories.

• Nissan to take key stake in scandal-hit Mitsubishi Motors, sources say

  

  TOKYO Nissan Motor Co (7201.T) is set to take a key stake in Mitsubishi Motors Corp (7211.T), two sources familiar with the matter said, in a $1.8 billion deal that bails out its scandal-hit rival and boosts Nissan's clout in the small car market.One of the sources said Mitsubishi had approved the deal at a board meeting earlier in the day. Nissan's board was also due to meet on Thursday, a scheduled gathering before the company releases quarterly earnings.Mitsubishi and Nissan, Japan's second..

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• Theranos Executive to Exit Amid Probes -- WSJ

  

  Shutterstock photo By John Carreyrou A top executive who helped build Theranos Inc. into a major blood-testing laboratory is leaving the company amid regulatory probes of the embattled Silicon Valley firm. The departure of Sunny Balwani as Theranos president and chief operating officer comes amid a broader board reorganization announced by the Palo Alto, Calif., firm. In a release late Wednesday, Theranos said it is expanding its board, adding three members to beef up its scient..

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• Pew study sees a shrinking middle class in major US cities

  

  WASHINGTON — In cities across America, the middle class is hollowing out. A widening wealth gap is moving more households into either higher- or lower-income groups in major metro areas, with fewer remaining in the middle, according to a report released Wednesday by the Pew Research Center. In nearly one-quarter of metro areas, middle-class adults no longer make up a majority, the Pew analysis found. That’s up from fewer than 10 percent of metro areas in 2000. Pew defines the middle class as ho..

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• Google Bans Ads for Payday Lenders

  

  WASHINGTON—Google said Wednesday it would ban ads from payday lenders, a move that affects a large segment of the online-lending industry. Google, owned by Alphabet Inc., said in a blog post that as of July 13, it is banning ads for payday loans and related products, citing its policy to “keep bad ads out” of its system. The company already bans ads for firearms and tobacco. The ban will cover virtually all of the payday-loan...

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• Macy's Reignites Retail Worries

  

  Macy’s Inc. set off fresh fears about the health of the U.S. retail sector, after the country’s largest department-store chain reported its worst quarterly sales since the recession. The company’s poor results and downbeat comments Wednesday triggered a selloff across apparel makers, mall owners, luxury brands and rival chains. Macy’s shares had their biggest drop since 2008. “We are not counting on the consumer to spend...

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