News Highlights: Top Company News of the Day

Date : 10/10/2019 @ 2:30AM
Source : Dow Jones News

News Highlights: Top Company News of the Day

PG&E's Bankruptcy Judge Opens the Door to Rival Chapter 11 Exit Plan 

The decision clears the way for a rival chapter 11 plan from Elliott Management and other bondholders that are allied with victims of wildfires that drove PG&E to bankruptcy.

Target's Chief Merchant Quits to Run Bed Bath & Beyond 

Target's chief merchant, Mark Tritton, has resigned ahead of the holiday shopping season to take the top job at Bed Bath & Beyond, a rival chain that has been struggling to adapt to the shifting retail landscape.

Senator Seeks Review of Acquisition by TikTok Owner 

U.S. Sen. Marco Rubio is calling for a national-security review of the 2017 deal that enabled the Chinese owner of video-sharing app TikTok to expand its reach in the U.S., saying the platform's moderators are censoring content to appease Beijing.

Purdue Settlement Hinges on Deal With DOJ, Documents Show 

OxyContin maker Purdue Pharma's plan to turn over its operations to creditors and see its owners, the Sacklers, exit the opioid business is contingent on first resolving Justice Department probes, court filings show.

Dollar General Boosts Digital Strategy 

The discount-store chain is working on making it possible for customers to buy its wares online and pick them up at a nearby store, a move that analysts say could help the retailer attract a younger demographic.

Activision Weighs China's Call Against Duties Back Home 

There would seem to be no bad time to put out a hot new videogame, though Activision Blizzard may have found one.

LVMH 3Q Revenue Rose, Beating Analyst Estimates 

Luxury-goods giant LVMH Moet Hennessy Louis Vuitton beat analysts' expectations for its third-quarter revenue despite toughening conditions for luxury players.

Facebook CEO to Testify at House Panel About Libra 

Facebook CEO Mark Zuckerberg is slated to return to Capitol Hill this month to testify before a House panel about the company's foray into cryptocurrency.

Alibaba to Stop Sales of E-Cigarettes to U.S. Buyers 

Chinese e-commerce giant Alibaba cited concerns about underage vaping and a lung illness linked to 24 deaths.

Power Outage in California Affects Millions as PG&E Tries to Avoid Wildfire 

PG&E began cutting power to about 800,000 households and businesses across California in an unprecedented move to lower the threat of wildfires in the face of the kind of windstorm that previously fueled deadly infernos and propelled the utility into bankruptcy court.


(END) Dow Jones Newswires

October 09, 2019 21:15 ET (01:15 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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