News Highlights: Top Company News of the Day
August 20 2019 - 3:15AM
Dow Jones News
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.
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.
Baidu, China's Private-Sector Bellwether, Reports 62% Profit Drop
China's economic downturn helped drive search-engine giant Baidu
to its weakest quarterly revenue growth in more than two years and
a 62% profit drop, with the company warning its bread-and-butter
advertising business will remain under pressure.
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.
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 20, 2019 03:00 ET (07:00 GMT)
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