News Highlights: Top Company News of the Day

Date : 10/22/2019 @ 1:30AM
Source : Dow Jones News

News Highlights: Top Company News of the Day

European Air Regulators Break From FAA on 737 MAX Timeline 

European air-safety regulators have officially shelved the idea of lifting the grounding of Boeing's 737 MAX jets simultaneously with the U.S., a setback to American regulators' desire for a coordinated global response.

Activist Investor Behind CSX Overhaul Sells Most of Its Stake 

The activist that shook up CSX Corp. has wound down most of its investment in the railroad operator, marking an end to a three-year saga that helped spur a massive overhaul of the U.S. railroad industry.

WeWork's Valuation Falls to $8 Billion Under SoftBank Rescue Offer 

WeWork's board is expected to meet tomorrow to weigh emergency-financing options including a takeover by SoftBank.

PG&E Fire Victims Say Trauma, Dislocation Should Excuse Late Filers 

California wildfire victims had a Monday deadline to file claims for damages from PG&E, the bankrupt utility blamed for sparking the blazes, but their lawyers are racing to try to buy more time.

Destination Maternity to Close About 210 Stores in Bankruptcy 

Destination Maternity filed for chapter 11 protection and plans to close about 210 underperforming locations, bowing to declining sales brought on by online competition, changing consumer behaviors and falling pregnancy rates in the U.S.

Facebook to Identify State-Run Media 

Facebook is taking more steps to protect the integrity of the 2020 U.S. elections, including clearer identification of state-run media on its platform.

Freddie Mac CIO Aims to Modernize IT, Cut Costs 

Freddie Mac's acting chief information officer, Frank Nazzaro, is taking on the role permanently as the mortgage-finance company looks to digital technology to increase loan approvals for a wider group of qualified home buyers.

Boeing Shares Fall as Lawmakers, Regulators Press Company 

Investors are selling off shares in Boeing as the plane manufacturer was hit with downgroades and continues to face intense questions from regulators and elected officials about its safety practices and its grounded 737 MAX planes.

SAP Extends Cloud Partnership With Microsoft 

SAP has extended a cloud-services partnership with rival Microsoft, crediting it with driving sales.

Coty Wants to Shed Hair-Care, Beauty Brands 

Cosmetics maker Coty Inc. is looking to sell its hair-care and professional beauty businesses, a collection of brands that account for nearly a third of its annual revenue.


(END) Dow Jones Newswires

October 21, 2019 21:15 ET (01:15 GMT)

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

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