News Highlights: Top Company News of the Day
October 26 2020 - 5:15AM
Dow Jones News
Coca-Cola Backs Away From Bottling in Australia as Deal Bubbles to Sell Stake
Coca-Cola agreed in principle to sell its stake in its
Australian bottler to one of its European affiliates, its latest
move to reduce exposure to costly bottling operations and focus on
the more lucrative concentrate-making business.
Bayer to Buy Gene-Therapy Firm AskBio for Up to $4 Billion
Bayer intends to acquire U.S.-based Asklepios BioPharmaceutical
to strengthen the German company's drugmaking arm, as Bayer
continues to reel from its acquisition of crops giant Monsanto.
Software Maker SAP's Profit and Sales Declined
As a result of the weaker business in the third quarter and
uncertainty from the pandemic, SAP cut its outlook on earnings and
revenue for the full year.
To Find a Coronavirus Vaccine, GlaxoSmithKline Is Bonding With Its Biggest Competitors
The hunt for a solution to Covid-19 is producing an unlikely
team of rivals in the cutthroat world of pharmaceuticals.
Apple's Services Business Could Be Hit in Google Antitrust Battle
A multibillion-dollar deal in which Google pays to be the
default search engine on Apple devices is at the heart of the case
the U.S. government filed against Google. That deal is also at the
heart of Apple's services unit.
Facebook Prepares Measures in Case of Election Unrest
The emergency measures, originally designed for countries facing
mass ethnic or political bloodshed, include slowing the spread of
viral content and lowering the bar for suppressing potentially
inflammatory posts.
Blackstone to Buy Simply Self Storage for About $1.2 Billion
Blackstone Group has struck a deal to buy Simply Self Storage
from Brookfield Asset Management, making a bet on a sector that has
remained strong throughout the coronavirus pandemic.
Cenovus and Husky to Merge in $2.89 Billion Deal
The deal, unveiled early Sunday, would create the third-largest
oil and natural-gas producer in Canada and the second-largest
Canadian refiner.
Samsung Heir Takes Reins of Tech Giant Stuck in Father's Past
With Lee Kun-hee's son preparing to formally take the reins,
Samsung must confront a major challenge: the company still looks
like the father's Samsung, not a business poised for the
future.
PG&E Cuts Power to Hundreds of Thousands
PG&E said it was pre-emptively cutting power to about
361,000 customers in northern and central California in an effort
to prevent wildfires, marking the largest such shut-off it has
reported this year.
(END) Dow Jones Newswires
October 26, 2020 05:00 ET (09:00 GMT)
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