News Highlights: Top Company News of the Day

Date : 01/23/2020 @ 8:30AM
Source : Dow Jones News

News Highlights: Top Company News of the Day

Galp, ACS Tie-Up Solar Energy Deal 

Portugal's Galp will buy solar energy projects from Spain's ACS, spending EUR2.2 billion through until 2023, and making Galp the main solar-power producer in Iberia.

STMicroelectronics Profit Falls 

STMicroelectronics said net profit for the fourth quarter fell 6.2% to $392 million, while revenue rose 4%, with its full-year performance in line with the forecasts the company gave back in April.

Anglo American Output Rises 

Anglo American said production rose 4% in the fourth quarter, benefitting from a ramp-up in iron-ore production at its Minas-Rio mine in Brazil.

PG&E Strikes Deal With Bondholders as Governor Blasts Bankruptcy Strategy 

PG&E said it has reached a new deal with bondholders that threatened opposition to its strategy for getting out of bankruptcy, but friction continues with California Gov. Gavin Newsom, who has threatened a state takeover of the troubled utility.

Duff & Phelps Reunites With Former Owners Through $4.2 Billion Deal 

Stone Point Capital and Further Global Capital Management's agreement to acquire Duff & Phelps for $4.2 billion promises to reconnect the valuation and advisory firm with two former backers.

Virus Outbreak Fuels Volatility in Some Biotech Stocks 

The deadly coronavirus outbreak is sparking big moves among biotechnology stocks, a volatile sector where companies can flourish or struggle depending on their progress in developing new medical treatments.

McDermott Unveils Bankruptcy Plan That Hands Control to Lenders 

McDermott International outlined its intention to emerge from bankruptcy in the coming months under new ownership with a plan that pays bondholders a minimal recovery and wipes out existing shareholders.

Boeing CEO Aims to Restore MAX Trust 

David Calhoun expressed confidence the 737 MAX would eventually fly passengers again despite repeated delays in winning regulatory approval for the troubled jet.

FAA Lowered Bar for Southwest Approvals, Whistleblower Alleges 

U.S. air-safety regulators likely acted improperly in the way they authorized Southwest Airlines to begin flights between California and Hawaii, according to the government agency that handles federal whistleblower complaints.

CEO of Hallmark Channel Parent Quits After Ad Furor 

Bill Abbott's exit comes weeks after the channel found itself in a firestorm of controversy when it pulled commercials featuring a same-sex marriage, only to reverse its decision days later.


(END) Dow Jones Newswires

January 23, 2020 03:15 ET (08:15 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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