News Highlights: Top Company News of the Day
August 03 2020 - 7:30AM
Dow Jones News
Eli Lilly Studies Experimental Covid-19 Drug in Nursing Homes
The late-stage trial is exploring whether Eli Lilly's antibody
drug can help reduce infections in senior facilities with a
diagnosed case of the new coronavirus.
Apple Faces $1.4 Billion Lawsuit by Chinese AI Firm in Siri Patent Fight
An artificial-intelligence company recently awarded a Chinese
patent for a voice assistant similar to Apple's Siri has filed a
patent infringement lawsuit against Apple that, if successful,
could prevent the American tech giant from selling many of its
products in the world's second-largest economy.
HSBC Profit Slumps on Coronavirus, Trade Tensions
HSBC's net profit fell in the second quarter as the impact of
the coronavirus pandemic complicated the bank's efforts to refocus
on Asia while dealing with rising U.S.-China political
tensions.
Microsoft Aims for a Deal to Buy TikTok's U.S. Business
Covert talks began weeks ago on a transaction that could reshape
the global tech landscape and further strain U.S.-China relations.
After the software giant's CEO and President Trump spoke Sunday,
Microsoft said an agreement could include the video app's
operations in Canada, Australia and New Zealand.
Luxury Department Store Lord & Taylor Files for Bankruptcy
Lord & Taylor, an industry pioneer dating back nearly 200
years, filed for bankruptcy along with its owner, the
venture-backed fashion-rental subscription service Le Tote.
Men's Wearhouse Parent Files for Bankruptcy
Tailored Brands, the parent company of Men's Wearhouse and Jos.
A. Bank, has filed for bankruptcy after the coronavirus pandemic
slashed demand for dress clothes.
Siemens Healthineers to Buy Varian Medical for $16.4 Billion
Siemens Healthineers, a medical technology spinoff of the German
conglomerate, said it would acquire U.S.-based Varian Medical for
$16.4 billion, creating a leader in the area of cancer therapy.
SocGen Reports Another Quarterly Loss
Societe Generale vowed to cut costs in its global markets
business after the lender swung to an unexpected loss of EUR1.26
billion in the second quarter, as it set aside more money for
potential loan losses.
Hammerson Confirms Rights Plan, Stake Sale Talks
Shares in Hammerson fell sharply after the shopping center owner
confirmed plans for a substantial rights issue and said it was in
advanced talks to sell its stake in VIA Outlets.
Marathon to Sell Gas-Station Chain to 7-Eleven Owners for $21 Billion
Fuel maker Marathon Petroleum agreed to sell its gas stations to
the owners of the 7-Eleven convenience-store chain for $21 billion
in the largest U.S. energy-related deal of the year.
(END) Dow Jones Newswires
August 03, 2020 07:15 ET (11:15 GMT)
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