News Highlights: Top Company News of the Day
November 24 2020 - 7:15PM
Dow Jones News
PC Sales Help HP, Dell Offset Weak Office Spending
Remote working fueled strong demand for Dell and HP personal
computers in the latest quarter, cushioning the impact from lower
office-equipment spending.
Gap Reports Flat Quarterly Sales as Holiday Shopping Gets Under Way
Gap's quarterly sales rebounded from spring shutdowns but
increased marketing weighed on profits. Executives cautioned that
rising Covid-19 infections could slow visits to stores during the
holiday season.
JPMorgan Chase Unit to Pay $250 Million Penalty Over Poor Internal Controls
A top banking regulator fined a JPMorgan Chase unit $250 million
over deficiencies in internal controls and internal audit
practices.
J.Crew Changes CEOs for Third Time in Three Years
The apparel seller replaced its chief executive after less than
a year in the role and just a few months after it emerged from
bankruptcy protection with new hedge-fund owners.
Glitches Hit Trading Platforms Run By Bank of America, TD Ameritrade, Vanguard
The popular platforms suffered glitches that rendered them
inaccessible or slow to use, frustrating investors on a landmark
day for the U.S. stock market.
More Than 940,000 Crock-Pots Recalled on Burn-Injury Reports
Multicooker maker Sunbeam Products received 119 reports of lid
detachment that led to 99 burn injuries, ranging from first- to
third-degree burns in the U.S., according to the U.S. Consumer
Product Safety Commission.
Purdue Pharma Pleads Guilty to Felonies Over OxyContin Sales
The guilty plea follows the approval last week by a U.S.
bankruptcy court judge of an $8.34 billion settlement between
Purdue Pharma and the Justice Department.
Credit Suisse Takes $450 Million Hit on Stake in U.S. Hedge-Fund Firm
Credit Suisse is taking a near half-billion-dollar charge on a
stake in a hedge-fund business it bought during Wall Street's
frenzy for alternative investments a decade ago.
French Hotel Giant Targets U.S. With New Lifestyle Operator
European hotel company Accor is set to merge its boutique
properties with a U.K. company to create what it says will be the
world's largest operator of lifestyle hotels, betting on the
segment as it seeks growth in North America.
GE Plans More Job Cuts in Aviation Division
General Electric warned employees that more job cuts are coming
to the conglomerate's jet-engine business because of the pandemic's
impact on commercial air travel even with the promise of a vaccine
on the horizon.
(END) Dow Jones Newswires
November 24, 2020 19:00 ET (00:00 GMT)
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