News Highlights: Top Company News of the Day
August 19 2019 - 11:30PM
Dow Jones News
States to Move Forward With Antitrust Probe of Big Tech Firms
A group of state attorneys general is preparing to move forward
with a joint antitrust investigation of big technology companies,
according to people familiar with the situation, adding another
layer of scrutiny to an industry already under a federal
spotlight.
BHP Pledges Record Payout as Profit Surges
BHP Group said its annual net profit more than doubled because
of strong iron-ore prices and large charges the year before that
weren't repeated.
McKinsey Dodges Lawsuit Targeting Its Bankruptcy Disclosures
A federal judge dismissed a racketeering lawsuit brought against
McKinsey & Co. by turnaround industry veteran Jay Alix, who
claimed the consulting firm profited by failing to disclose
conflicts of interest in bankruptcy cases.
Tesla to Rent Solar Panels to Homeowners
Tesla is trying to inject new energy into its solar business by
offering to rent panels in six states. Customers can cancel at
anytime.
Baidu Reports 62% Profit Drop
China's economic downturn and tighter control over internet
content drove search-engine giant Baidu Inc.'s weakest quarterly
revenue growth in more than two years and a 62% profit drop.
Viacom, CBS Executives to Earn Big From Merger
Bob Bakish, who will become president and CEO of ViacomCBS, has
signed a contract worth about $31 million a year. Joe Ianniello,
who will be chairman and CEO of CBS at the combined company, will
get earn about $70 million when the deal closes.
Mexican Telecom Company Maxcom Files for Bankruptcy in U.S.
Maxcom Telecomunicaciones, the Mexico City-based company that
builds last-mile connections to businesses and consumers, filed for
bankruptcy in the U.S. with a deal in hand for a debt swap with
bondholders.
Two Drugmakers Closing In on Opioid Settlements
Drugmakers Endo International and Allergan are in talks to avoid
going to a landmark trial set to begin in October over the opioid
crisis, according to people familiar with the matter.
Twitter, Facebook Act Against Disinformation on Hong Kong Protests
Twitter took down more than 900 accounts that it said were part
of a Chinese government campaign to discredit protesters in Hong
Kong by spreading misinformation.
Beauty Stocks Look Pretty After Upbeat Estée Lauder Earnings
Investors are still betting on cosmetic companies despite the
retail sector's tariff woes.
(END) Dow Jones Newswires
August 19, 2019 23:15 ET (03:15 GMT)
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