News Highlights: Top Company News of the Day

Date : 02/27/2020 @ 8:30AM
Source : Dow Jones News

News Highlights: Top Company News of the Day

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)

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

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