AIG Swings to a Loss but Calls Pandemic Hit 'Manageable': Earnings at a Glance

Insurer AIG swung to a loss in the quarter in part due to the pandemic, although CEO Brian Duperreault called Covid-19 "manageable." Videogame maker Take-Two Interactive Software said bookings more than doubled in the June quarter thanks to the stay-at-home trend.

 
With Potential TikTok Deal, Microsoft CEO Looks to Expand Audience

If there is one trait that would link a TikTok acquisition with the other big deals Microsoft Chief Executive Satya Nadella has done, it is his willingness to pay big bucks to expand the software giant's universe of users.

 
Vornado Faces Rent-Collection Challenge From Retailers

Vornado Realty Trust said it collected 72% of second-quarter rents due to it from retailers, a performance that illustrates the challenges retail-property owners face as the pandemic complicates in-store shopping for many tenants.

 
AIG Swings to Quarterly Loss

Global insurer American International Group swung to a loss for the second quarter driven in part by substantial costs tied to the pandemic.

 
Commerzbank Names New Chairman, Defying Big Investor Cerberus

German lender Commerzbank appointed former state bank executive Hans-Jörg Vetter as its new chairman, ignoring opposition from its second-largest shareholder, Cerberus Capital Management.

 
Trump Says U.S. Should Get Slice of TikTok Sale Price

President Trump confirmed Monday he is open to a deal in which Microsoft or another U.S. company buys the video-sharing app TikTok, but he said the government should receive payment for clearing a purchase.

 
GM Tries to Revive Legal Battle With Fiat Chrysler

General Motors wants a federal judge to reconsider the tossing of its suit against Fiat Chrysler in which it accused its rival of bribing UAW officials to gain a competitive advantage.

 
Trump Fires Tennessee Valley Authority Board Members, Cites Shift to Foreign Workers

President Trump removed the chairman and another board member at the Tennessee Valley Authority and called for firing the federally owned utility's CEO, as he signed an order meant to protect U.S. federal workers from displacement by foreigners.

 
Electric-Truck Maker Lordstown Motors to Go Public in Reverse Merger

Lordstown Motors, the latest company looking to tap investor excitement around battery-powered vehicles, said it will merge with publicly traded DiamondPeak Holdings in a deal that aims to list it on the Nasdaq.

 
Google to Invest $450 Million in ADT

The partnership will combine Nest hardware and services, powered by Google's machine learning technology, with ADT's installation, service and professional monitoring network.

(END) Dow Jones Newswires

August 03, 2020 19:15 ET (23:15 GMT)

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