Federal prosecutors issued grand jury subpoenas to former national security adviser John Bolton’s publisher and literary agent on Monday, according to people familiar with the matter, launching a criminal investigation into whether Mr. Bolton mishandled classified information.1 minute ago

Kraft Heinz Co. said it has agreed to sell a big chunk of its cheese business to France’s Groupe Lactalis SA for $3.2 billion, as the struggling U.S. food company seeks to jump-start growth in its other businesses.

The transaction involves Kraft Heinz’s natural-cheese business and consists of a mix of brands in the U.S. and Canada and the company’s cheese business outside of North America. The Wall Street Journal first reported on the sale being imminent earlier Tuesday.

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SoftBank Group Corp. is nearing a deal to sell British chip designer Arm Holdings to Nvidia Corp. for more than $40 billion, according to people familiar with the matter, the latest in a series of big asset sales by the Japanese technology conglomerate.

The cash-and-stock deal being discussed would value Arm in the low $40 billions, the people said. The terms under discussion would mark a big win for SoftBank, which bought Arm four years ago for $32 billion and had struggled to jump-start growth in the business.