News Highlights: Top Company News of the Day
September 28 2020 - 11:30AM
Dow Jones News
Uber Wins Back License to Operate in London After Yearslong Battle
Ride-hailing company Uber won an appeal over the revocation of
its operating license in the U.K. capital, securing for now the
ride-hailing company's operations in one of its biggest global
markets.
ArcelorMittal to Sell U.S. Business to Cleveland-Cliffs
The company agreed to sell its U.S. business to Cleveland-Cliffs
for around $1.4 billion, as the world's largest steelmaker grapples
with the fallout from Covid-19.
Devon Energy, WPX to Merge in All-Stock Deal
The shale drillers are combining in an all-stock merger of
equals, creating an entity with a combined market value of about $6
billion. The move could help them weather the prolonged slump in
oil demand amid the Covid-19 pandemic
Container Line CMA CGM Hit by Cyberattack
French container shipping line CMA CGM SA said Monday it has
shut down some of its technology systems as it copes with a
cyberattack at two of its Asia-Pacific subsidiaries.
Some Google Search Rivals Lose Footing on Android System
A system Google set up to promote competition on Android has
left some smaller search engines having trouble gaining traction,
fueling rivals' complaints about the tech giant's compliance with a
European Union antitrust decision ahead of potential U.S.
charges.
Covid Blunts Unilever's Edge in Emerging Markets
Unilever has leaned on developing countries to power its sales
growth, but the pandemic has roiled its biggest such
market-India-propelling the company to change how it manufactures,
prices and distributes its products there.
Nikola's Business Model Relies on Big Leaps in Technology, Large Declines in Costs
The electric truck startup's future depends on delivering big
technological advances and dramatic cost reductions.
Developer China Evergrande Erases Market Losses
The company had sought to assuage investor concerns about its
liquidity following a steep selloff, and some investors took
advantage of its distressed U.S.-dollar-bond prices to scoop up the
junk-rated debt.
Judge Halts Trump Administration TikTok Download Ban
The federal judge's move gives the Chinese-owned app a
short-term victory as it scrambles to ensure its future while
caught in a battle of brinkmanship between global superpowers.
Kioxia's Ambitious IPO Runs Up Against Reality
The collateral damage from Huawei's trouble is widespread, but
the problems with the now-delayed Kioxia public offering ran
deeper.
(END) Dow Jones Newswires
September 28, 2020 11:15 ET (15:15 GMT)
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