News Highlights: Top Company News of the Day

Date : 10/16/2019 @ 3:30AM
Source : Dow Jones News

News Highlights: Top Company News of the Day

United Raises Outlook on Robust Demand 

United Airlines profit outstripped expectations as the company raised its earnings estimates for the year amid a surge in bookings.

Berkshire Asks to Expand BofA Stake 

Berkshire Hathaway requested permission earlier this month from the Fed to increase its stake in Bank of America above 10%.

Mapletree Commercial Trust Plans to Raise S$902.3 Million for Acquisition 

Mapletree Commercial Trust said it is planning to raise at least 902.3 million Singapore dollars to buy a business park in Singapore.

Australia's Latitude Financial Scraps IPO 

The planned initial public offering for KKR & Co.-backed Latitude Financial has been pulled two days before trading on the Australian market was due to kick off.

América Móvil Reports 31% Drop in  Net Profit on Forex Losses 

Mexican telecommunications company América Móvil reported a 31% decline in net profit as foreign-exchange losses in the period offset gains in sales and operating profits.

MGM Resorts to Sell Bellagio, Circus Circus Properties in Las Vegas 

MGM Resorts International said it is selling two casinos on the Las Vegas Strip, including its landmark Bellagio property, in separate real-estate deals.

Drug Distributors Are in Talks to Pay $18 Billion to Settle Opioid Litigation 

Three major drug distributors are in talks to pay $18 billion to settle sweeping litigation brought by state and local governments blaming them for fueling the opioid crisis.

Brookfield Embarks on High-Price Makeover of Fifth Avenue Tower 

Toronto-based Brookfield, which bought control of the office tower at 666 Fifth Ave. from the Kushner family in 2018, is planning one of the costliest overhauls for a building that New York has seen.

JPMorgan Flexes Muscle as Goldman Stumbles 

The results show that the largest U.S. banks have yet to feel the sting of recent interest-rate cuts and turbulence in the stock and money markets.

Nevada Regulator Seeks to Ban Steve Wynn From State's Casino Industry 

Steve Wynn should be banned from Nevada's casino industry because of his alleged sexual misconduct against former employees, according to a state regulator's filing on Monday.


(END) Dow Jones Newswires

October 15, 2019 23:15 ET (03:15 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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