News Highlights: Top Company News of the Day

Date : 02/24/2020 @ 8:30AM
Source : Dow Jones News

News Highlights: Top Company News of the Day

Intuit Near Deal to Buy Credit Karma for $7 Billion 

Intuit is near a deal to buy personal-finance portal Credit Karma for about $7 billion in cash and stock, pushing the company behind QuickBooks and TurboTax further into consumer finance, people familiar with the matter said.

Boeing Offers More Support for 737 MAX Suppliers 

Boeing is planning more financial and other support to its 737 MAX suppliers to prepare them to resume production of the jetliner-and dissuade some from seeking more business from Airbus.

Teck Pulls Oil Project, Blames Canada's Climate-Policy Uncertainty 

A Canadian mining company shelved a proposed multibillion-dollar energy project that the federal cabinet was days away from issuing a verdict on, citing political uncertainty about oil-and-gas development in the resource-rich country.

Google Plots Course to Overtake Cloud Rivals 

The decision to cut jobs is the latest move in a yearlong effort to shake up the cloud unit and put greater focus on delivering growth to parent Alphabet.

PepsiCo to Buy Chinese Online Snack Company for $705 Million 

PepsiCo has agreed to buy Be & Cheery, an online snack company in China from Haoxiangni Health Food, for $705 million.

Move Over, Elliott. Argentina's New Bond-Market Nemesis Is Fidelity. 

Argentina's new adversary in the bond market is no highflying hedge fund. It's Fidelity Investments.

Buffett's Berkshire Hathaway Stock Underperforms the Most Since 2009 

Berkshire Hathaway's earnings surged last year due to unrealized investment gains. Chairman Warren Buffett sought to reassure investors about the conglomerate's long-term future following an underwhelming year for the stock performance.

Vale Dam Report Faults Conflict of Interest, Compensation Structure 

An independent report commissioned by Vale into last year's deadly mine-dam failure found conflicts of interest between the mining giant and its auditors, faulty information-sharing inside the company and a compensation structure that prioritized financial returns.

Dropbox Finally Doesn't Drop 

Having struggled to convince investors of its growth prospects, it was high time for Dropbox to try something new.

Fox, Comcast Pursue Takeovers of Ad-Supported Video Services 

Fox and Comcast are each in discussions to acquire advertising-supported video services, as entertainment giants increasingly look to offer free or low-cost alternatives for consumers who don't want to pay for streaming subscriptions.


(END) Dow Jones Newswires

February 24, 2020 03:15 ET (08:15 GMT)

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

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