News Highlights: Top Company News of the Day
January 23 2020 - 5:30PM
Dow Jones News
Intel's Earnings Boosted by Data-Center, PC Demand
Intel posted strong fourth-quarter earnings that benefited from
an upswing in personal-computer shipments and robust demand for
chips to power data centers.
Founder of Opioid Maker Sentenced to 5 1/2 Years in Prison
The sentencing of John N. Kapoor, founder of Insys Therapeutics,
caps the fall of a former pharmaceutical industry highflier along
with the company and several fellow officials.
Judge Approves McDermott's $2.8 Billion Bankruptcy Financing Deal
The judge overseeing McDermott International's bankruptcy case
granted approval for the company's proposed $2.8 billion financing
deal at the company's initial court appearance.
Wells Fargo Ex-CEO Banned, to Pay $17 Million in Fake-Account Scandal
Former Wells Fargo CEO John Stumpf was barred from the banking
industry and agreed to pay $17.5 million in a settlement with the
Office of the Comptroller of the Currency.
Jobs, Cook, Ive-Blevins? The Rise of Apple's Cost Cutter
Apple procurement executive Tony Blevins's job is to stare down
suppliers and slash prices to the bone. It's a role increasingly
vital to Apple as its iPhone sales slow and the company protects
its high margins and status as an operations juggernaut.
Former Daily News Editor in Chief to Run Deadspin
G/O Media has turned to veteran editor Jim Rich to lead
Deadspin, the sports website that has been rudderless since its
entire staff resigned last fall
Travelers Posts Higher Profit But Warns About Lawsuit Payments
The insurer, one of the first big property-casualty insurers to
report quarterly earnings, posted a higher fourth-quarter profit
but said it faced higher-than-expected claims payments for lawsuits
and jury awards.
Union Pacific to Cut Nearly 3,000 Jobs
The railroad operator said it plans to cut nearly 3,000 jobs
this year as it pushes ahead with its new operating plan. The
company's profit fell almost 10% in the fourth quarter.
MAX Operators Lose Ground
U.S. airlines that operate the Boeing 737 MAX are facing the
prospect that the aircraft's prolonged grounding could stymie their
growth and benefit competitors well into this year.
Xerox to Nominate 11 Candidates to Replace HP's Board
Xerox's move comes as it pushes a $33 billion unsolicited
takeover bid for the computer and printer maker.
(END) Dow Jones Newswires
January 23, 2020 17:15 ET (22:15 GMT)
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