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Top Company News of the Day: 3M, Chevron, BYD, Zip Co.

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Latest News
August 29 2023 3:41AM

3M Board Approves $6 Billion Earplug Settlement

Payments are expected to be paid out over multiple years, and the total is substantially less than some analysts expected.

Chevron Workers in Australia Set Date for Work Bans, Stoppages

The walkout threats bring concerns of a sudden drop in liquefied natural gas exports, disruptions to global gas supplies.

Manufacturers Leaving China Find a Home With Indian Startups

India is looking to build up its factory base, and venture-capital investors are noticing.

BYD’s First-Half Profit Soared on Strong Sales

Vehicle sales nearly doubled, keeping BYD’s global No. 1 ranking in electric-vehicle sales.

Zip Co. Has No Plans to Follow Peers on Delisting Path, CEO Says

EXCLUSIVE: Zip Co. has no plans to change its ownership model despite the steep decline in valuations of buy-now-pay-later providers and the departure of several peers from the Australian share market.

Minerva Foods Plans $1.54 Billion Acquisition in South America

Minerva Foods plans to acquire cattle-slaughtering and deboning plants in South America from one of Brazil’s largest food-processing companies, Marfrig Global Foods, for $1.54 billion.

Star Entertainment Reports Annual Loss Amid Casino Impairments

Star Entertainment tumbled to an annual loss of$1.57 billion as the Australian casino operator impaired assets and set aside cash for its continuing regulatory travails.

Hedge Fund MFN Pushes for Equity Voice in Yellow’s Bankruptcy

Yellow says it welcomes input from MFN, the collapsed trucker’s biggest shareholder.

Hawaiian Electric Denies Causing Lahaina Fire

The local utility blamed firefighters for an inadequate response, in a public response to a lawsuit filed last week by Maui County blaming it for the blaze.

American Airlines Fined $4.1 Million for Keeping Fliers on Planes Too Long

The U.S. penalty is the largest ever for tarmac delays, which the airline attributed to “exceptional weather events.”

Source: Dow Jones Newswires