Wall Street Profits Soar During First Half of 2020

Wall Street profits jumped 82% in the first half of this year, a rare bright spot for the city and state's pandemic-ravaged budgets.

 
Uber and Lyft Must Classify Drivers as Employees, Appeals Court Says

The ride-hailing companies must comply with an order that requires them to reclassify their drivers as employees, a California appeals court said, siding with a lower-court ruling that threatened to upend the business models.

 
Huawei Revenue Growth Slows as US Restrictions Start to Bite

Huawei Technologies posted a lower rate of revenue growth in the third quarter, as the Chinese telecom giant continues to grapple with U.S. restrictions on its ability to buy chips and other technology.

 
Covid-19 Drug Remdesivir Fully Approved by FDA

The U.S. Food and Drug Administration has granted a full final approval to Gilead Sciences Inc.'s remdesivir, making it the first Covid-19 treatment deemed safe and effective by the regulator, the company said Thursday.

 
Walmart Sues U.S., Aiming to Head Off Opioid Penalties

Walmart sued the federal government in an attempt to strike a pre-emptive blow against what it said is an impending opioid-related civil lawsuit from the Justice Department.

 
Pension Backers Focus Fresh Attention on Apollo Founder's Ties to Jeffrey Epstein

Several pension backers of Apollo Global Management have expressed concern after a recent news report about financial ties between Leon Black, the firm's co-founder, and the late Jeffrey Epstein, who killed himself while awaiting trial on sex-trafficking charges.

 
Intel Hit as Consumers Flock to Lower-Cost Laptops, Datacenter Chips

Chip giant Intel Corp. raised its full-year outlook even as earnings suffered as consumers gravitated to cheaper laptops and demand for datacenters softened.

 
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.

 
Qantas Revenue Grounded by Slow Travel Recovery

Delays in reopening domestic borders hit Qantas Airways's revenue in its fiscal first quarter, and the recovery in travel has been slower than expected, executives at Australia's biggest airline said.

 
Barbie Sales Take Off as Parents Try to Cut Down on Screen Time

Mattel's flagship doll Barbie posted a 29% sales increase in the latest quarter, leading the toy company to 10% revenue growth in the period. It was the largest quarterly increase posted by Barbie in at least two decades.

(END) Dow Jones Newswires

October 23, 2020 01:15 ET (05:15 GMT)

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