News Highlights: Top Company News of the Day
October 22 2020 - 3:30PM
Dow Jones News
Bayer's Request for Roundup Appeal Rejected by California Court
The California Supreme Court declined to hear an appeal by Bayer
seeking to reverse a jury verdict that the company's Roundup
herbicide caused a groundskeeper's cancer, leaving the company with
few remaining options to avoid paying a $20.4 million judgment.
Gucci Struggles as Pandemic Keeps Tourists Home
Gucci reported a 12% drop in third-quarter sales as the Italian
fashion house was hit hard by the absence of tourist shoppers from
Asia during the pandemic.
Goldman to Recoup, Cut Executives' Pay After 1MDB Fines
Goldman Sachs is seizing or withholding $174 million from
executives including CEO David Solomon after agreeing to a costly
settlement to resolve government investigations into its role in a
Malaysian bribery scandal.
Google Lawsuit Could Alter Business Calculations in Enterprise Tech Market
The antitrust lawsuit filed against Google this week is focused
mostly on the consumer business, but it also will have implications
for the enterprise tech market where Google aspires to a greater
role.
AMC Bonds Fall Despite Theater Reopenings
Analysts say the company is in danger of running out of cash
without new blockbusters to attract moviegoers.
Hotels Reckon With Business Travel's Collapse
When the coronavirus hit, they lost a big chunk of their
clientele overnight. Now, they are preparing for a long
downturn
Airlines' Losses Mount, but Demand Shows Improvement
Southwest said it lost nearly $1.2 billion during the third
quarter. American lost $2.4 billion and Alaska Air reported losing
$431 million.
Google's Antitrust Woes Seen Helping Microsoft's Bing
The target of the U.S. government's last major tech antitrust
campaign, Microsoft, could be the biggest beneficiary of its
newest, the lawsuit the Justice Department filed this week against
Google.
Goldman Sachs Malaysia Subsidiary Pleads Guilty in 1MDB Case
A unit of Goldman Sachs pleaded guilty to conspiring to violate
U.S. antibribery laws, the first step in an expected resolution of
a long-running investigation into its role in a Malaysian
corruption scandal.
Coca-Cola Expects Growth in China Even as Global Sales Slide
The beverage company expects to see growth this year in China,
even as its global sales continue to decline because of the
closures of restaurants, bars, movie theaters and sports stadiums
elsewhere around the world.
(END) Dow Jones Newswires
October 22, 2020 15:15 ET (19:15 GMT)
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