News Highlights: Top Company News of the Day

Date : 02/20/2020 @ 2:30AM
Source : Dow Jones News

News Highlights: Top Company News of the Day

Petrobras Fourth-Quarter Net Income Almost Quadrupled 

Brazilian oil giant Petróleo Brasileiro SA, or Petrobras, said Wednesday that profit in the fourth quarter rose as new platforms in the company's rich offshore fields boosted output and cut production costs.

UBS CEO Ermotti Steps Down, ING's Hamers Named New Chief 

UBS Group Chief Executive Sergio Ermotti is stepping down and will be succeeded by current ING Groep boss Ralph Hamers, marking another leadership change at a major Swiss bank.

Federal Judge Slams PG&E's Efforts to  Prevent Wildfires 

U.S. District Judge William Alsup lambasted PG&E Corp. for falling behind on tree-trimming efforts near power lines to reduce the risk that they will spark more wildfires.

France Deepens Probe of Ghosn 

An investigation into spending authorized by Carlos Ghosn when he was Renault CEO has been turned up a notch by French prosecutors.

GE, Stung by Boeing Pullback, Pitches for New Business With Airbus 

General Electric is looking for new business from Airbus, as the engine maker's other big customer, Boeing, retrenches.

More Investment Funds Reduce Ties With Sacklers 

Two hedge funds are reducing their ties to the embattled family that owns OxyContin maker Purdue Pharma.

Diageo Settles for $5 Million With SEC on Profit-Boosting Charges 

Diageo has agreed to pay $5 million to settle charges brought by the Securities and Exchange Commission that it hit performance goals by pressuring distributors to buy products in excess of demand.

Airbus Defense and Space in Talks With European Works Council Over Restructuring 

Airbus said Wednesday that its defense-and-space division has entered a consultation process with the European Works Council on its planned restructuring.

Dish Network's Customer Base Slips Under 12 Million 

The satellite company lost nearly 200,000 television customers in the fourth quarter as it laid plans to invest in a still-unfinished wireless phone network.

Adidas, Puma Warn of Coronavirus Blow 

Puma and Adidas warned of a hit from the coronavirus on sales, sharpening concerns about how the outbreak is affecting the athletics gear industry that has long looked to China as both a market and a production base.


(END) Dow Jones Newswires

February 19, 2020 21:15 ET (02:15 GMT)

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

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