News Highlights: Top Company News of the Day

Date : 12/09/2019 @ 10:15PM
Source : Dow Jones News

News Highlights: Top Company News of the Day

Comcast Expects to Spend $2 Billion Over Two Years on Streaming Service 

Comcast is planning to spend $2 billion over the next two years on content and marketing for Peacock, its new streaming service set to debut in April, the company's finance chief said.

ViacomCBS Puts CBS Headquarters in New York on the Block 

ViacomCBS is planning to sell CBS's Midtown Manhattan headquarters to generate operating capital for the newly combined company, Chief Executive Bob Bakish said Monday.

SoftBank Is Selling Wag Stake Back to Company 

SoftBank's Vision Fund has agreed to sell its nearly 50% stake in Wag Labs back to the struggling dog-walking startup, marking another disappointment for the Japanese investing giant.

Judge Puts T-Mobile Merger Trial on Fast Track 

A federal judge told lawyers fighting over T-Mobile US's more than $26 billion bid for Sprint to skip their customary opening arguments so they could start questioning witnesses, a sign he is seeking a speedy trial.

Tiger Global Cuts Juul's Valuation to $19 Billion 

Tiger Global Management, one of Juul's earliest boosters, slashed its valuation of the e-cigarette startup to $19 billion, the latest sign that investors are reassessing a number of Silicon Valley's one-time darlings.

PG&E Charges to Swell to $25 Billion After Wildfire Settlement 

PG&E expects to take a fourth-quarter charge of $4.9 billion in connection with a new $13.5 billion deal to settle claims from wildfire victims, the company disclosed in a securities filing.

Amazon Claims 'Improper Pressure' From Trump on Pentagon Contract said President Trump exerted "improper pressure" on the Pentagon to keep a lucrative cloud-computing deal from going to his perceived enemy, company founder Jeffrey Bezos.

Big Drugmakers Push Deeper Into Cancer Treatment 

Merck and Sanofi, two of the world's biggest drugmakers, struck multibillion-dollar deals aimed at bolstering their lineups in the fiercely competitive cancer-drugs market.

HSBC Cuts More Top Executives in Strategy Shift 

HSBC pruned its top ranks and announced new hires as part of a strategic revamp, with three of its most senior executives set to retire or move into other roles.

Canopy Growth Names Constellation's David Klein as CEO 

Canopy Growth said David Klein, who currently serves as chief financial officer of major shareholder Constellation Brands, will join the cannabis company as chief executive.


(END) Dow Jones Newswires

December 09, 2019 17:00 ET (22:00 GMT)

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

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