AMD Agrees to Buy Rival Chip Maker Xilinx for $35 Billion

Advanced Micro Devices plans to buy rival chip maker Xilinx in a $35 billion deal, adding momentum to the consolidation of the semiconductor industry that has only accelerated during the pandemic.

 
BP Posts Fifth Straight Quarterly Loss

U.K. energy company BP reported a fifth consecutive quarterly loss, providing the first glimpse of how major oil companies navigated the third quarter amid a prolonged slump in demand.

 
HSBC's Profit Falls but Lower Provisions Boost Recovery Hopes

London-based bank HSBC's net profit fell in the third quarter as the coronavirus ravaged the global economy and political tensions between the U.S. and China intensified over Hong Kong.

 
Lawmakers Want to Protect Local Newspapers From Google, Facebook

Some Senate Democrats are seeking to empower regulators to protect local news outlets, accusing tech giants such as Google and Facebook of "unfair business practices," according to a new committee report.

 
NIH Halts Study Exploring Treating Covid-19 With Lilly Antibody, Remdesivir

Federal health researchers have halted testing a combination of Eli Lilly's Covid-19 antibody drug and remdesivir in hospitalized Covid-19 patients, after an independent committee found a lack of a benefit.

 
Ant to Raise More Than $34 Billion in Record IPO

The Chinese financial-technology giant will list its shares in what is set to be the world's biggest-ever initial public offering, a deal that bypasses U.S. stock exchanges.

 
Blackstone Raises $8 Billion for Second Long-Life Fund

Blackstone collected the pool during the early days of the coronavirus pandemic, which slowed fundraising across the industry. Calpers, however, provided a $1 billion boost to the fund in March.

 
Sheldon Adelson's Las Vegas Sands Considers Sale of Casinos in Namesake City

The sale price for its Venetian and Palazzo casinos and Sands Expo and Convention Center could be more than $6 billion, according to a person familiar with the deliberations.

 
J.C. Penney Lenders Trade Barbs Over Chapter 11 Split

A lawyer for J.C. Penney's top lenders accused a rival creditor group of "economic terrorism" during a court hearing on the escalating battle between hedge funds seeking bigger shares of the beleaguered department-store chain.

 
Veritas Capital Closes Maiden Credit Fund

Private-equity firm Veritas Capital closed its maiden credit fund last week, collecting $400 million to invest in companies at the intersection of technology and government, according to people familiar with the matter.

(END) Dow Jones Newswires

October 27, 2020 07:15 ET (11:15 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.