News Highlights: Top Company News of the Day
February 27 2020 - 3:30AM
Dow Jones News
AB InBev Warns of Coronavirus Hit as Profits Slump
AB InBev said it lost $170 million in profits for the first two
months of 2020 due to the coronavirus epidemic, as it reported a
below-forecast underlying profit of $5.34 billion.
Standard Chartered Profit Tumbles
Standard Chartered's fourth-quarter underlying profit fell 25%
due to flat income, rising expenses and higher impairments, and the
bank warned of slower-than-expected growth in 2020 amid challenges
including the coronavirus epidemic.
Nestlé Halts Trips Abroad as Other Companies Add Travel Curbs
As fears rise over Covid-19's spread, companies are canceling
business travel and off-site events around the globe and devising
contingency plans for more employees to work remotely.
Microsoft Expects Personal Computing to Miss Target
The company says suppliers are gearing up operations at a slower
pace than anticipated as China grapples with the coronavirus.
L Brands Takes Nearly $700 Million Charge on Victoria's Secret
The retailer wrote down the value of the lingerie business after
agreeing to sell a 55% stake.
Marriott Predicts Coronavirus Will Hurt Fee Revenue
Marriott International expects the epidemic to weigh on the
hotel company's fee revenue in 2020, as the pathogen's spread
outside of China stokes fears and disrupts travel.
PG&E Judge Skeptical of Most Government Wildfire Response Claims
The Federal Emergency Management Agency and the California
Governor's Office of Emergency Services are seeking $3.9 billion
and $2.4 billion, respectively, from San Francisco-based PG&E
for services provided in the aftermath of three deadly wildfires
linked to the utility's equipment.
Jimmy John's Faces U.S. Probe Over E.coli Outbreak
U.S. officials warned of a new E.coli outbreak linked to Jimmy
John's Gourmet Sandwiches, the latest in a string of food-safety
problems at the sandwich chain in recent years.
Trump Campaign Sues New York Times Over Opinion Piece
President Trump's campaign filed a libel lawsuit against the New
York Times, accusing it of knowingly publishing false and
defamatory statements in an opinion piece on the 2016 election and
Russia.
Disney's New CEO Described as a Number-Crunching Tactician
Bob Chapek, now at the helm of Walt Disney, is described by
those who have worked with him as a skilled tactician who
identifies targets and looks for ways to achieve his metrics.
(END) Dow Jones Newswires
February 27, 2020 03:15 ET (08:15 GMT)
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