News Highlights: Top Company News of the Day

Date : 10/16/2019 @ 7:30PM
Source : Dow Jones News

News Highlights: Top Company News of the Day

J&J Offers $4 Billion Opioid Litigation Settlement 

Johnson & Johnson has offered to pay about $4 billion to settle all lawsuits in the U.S. accusing the company of contributing to the opioid-addiction epidemic, according to people familiar with the matter.

UAW, GM Reach Tentative Labor Deal 

The United Auto Workers struck a tentative labor deal with General Motors, a critical step in ending a monthlong strike that has brought more than 30 GM factories in the U.S. to a standstill.

Amazon's Deliveroo Investment Attracts Formal U.K. Probe 

Britain's antitrust watchdog has launched a formal probe into's investment into Deliveroo, a British food-delivery startup.

Walmart and Mattel Lease 'Floors' in a Virtual Toy Store Run on Interactive Video 

Mattel and Walmart are trying out interactive video to market and sell toys through new virtual store called KidHQ.

Bank of America Profit Falls on Charge 

A one-time charge dented Bank of America's third-quarter profit, but the bank posted gains in its consumer, wealth and commercial businesses.

Broadcom Ordered by EU to Halt Allegedly Anticompetitive Practices 

The European Union ordered semiconductor maker Broadcom to stop requiring contract terms with customers that the bloc alleges are anticompetitive, even as a probe into the practices continues.

Regional Lenders Lean on Fees to Fuel Revenue Growth 

U.S. Bancorp and PNC Financial Services Group, two of the country's biggest regional lenders, posted profit and revenue that were higher than expected, as higher fee income offset slower revenue growth from lending.

WeWork Founder Mixed Spiritual Group With Business 

WeWork founder Adam Neumann's relationship with the Kabbalah Centre, a spiritual organization that promotes a brand of Jewish mysticism, helped build the company from its early days.

Huawei Extends Hot Streak in the Face of U.S. Blacklisting 

Huawei's revenue rose 24% during the first nine months of the year, despite a U.S. export blacklisting against the world's largest maker of telecommunication equipment.

Highland Capital Management Files for Bankruptcy 

Highland Capital Management filed for bankruptcy protection to fend off investors suing it over a hedge fund that closed during the financial crisis.


(END) Dow Jones Newswires

October 16, 2019 15:15 ET (19:15 GMT)

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

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