News Highlights: Top Company News of the Day
April 09 2020 - 7:15PM
Dow Jones News
Largest U.S. Car Insurer State Farm Rolls Out $2 Billion Consumer Financial Relief Program
State Farm is slashing premiums owed on 40 million vehicles,
making it the latest carrier to offer consumers a financial-relief
program as auto claims have plunged under shelter-at-home
restrictions.
Tobacco Giant Sues Rivals Over Patents for Cigarette Alternatives
British American Tobacco is suing two of its biggest rivals,
alleging the IQOS tobacco heating device developed by Philip Morris
International and sold by Altria Group infringes on its U.S.
patents.
U.S. Officials Target Chinese State-Owned Telecom Provider
Trump administration officials sought to revoke federal licenses
used by China Telecom to do business in the U.S., ratcheting up
pressure on a state-owned enterprise close to Beijing.
Lufthansa Reassigns Finance Tasks Amid Sudden CFO Departure
The economic fallout from the coronavirus pandemic is putting a
strain on executive succession plans, with some companies resorting
to unusual arrangements to fill key vacancies. A case in point:
Deutsche Lufthansa.
BlackRock CEO Larry Fink Earns $25 Million in 2019
BlackRock Chief Executive Laurence Fink earned $25.25 million
last year, a 5% boost for an increasingly influential figure behind
the U.S. government's response to the coronavirus crisis.
California Hedge Fund Bets on Volatility Spike, Reaps 400% Gain
LongTail Alpha funds capitalized on the markets' reaction to the
new coronavirus pandemic.
Morgan Stanley CEO Recovered From Coronavirus
Morgan Stanley Chief Executive James Gorman said he has
recovered from the new coronavirus, the most senior Wall Street
executive known to have been infected.
Disney's Stream Turns Into a Torrent
The pandemic sends a flood of new subscribers to Disney+,
offsetting some of the company's other shutdown problems.
Merck Venture Arm Invests in Quantum Computing Startup Seeqc
Quantum computing startup Seeqc has raised more than $11 million
in venture capital funding from investors including a subsidiary of
German company Merck KGaA, which is interested in using the
technology for materials science and pharmaceutical
development.
Franklin Prepares for Potential Chesapeake Debt Restructuring
Mutual-fund company Franklin Resources is taking steps to
prepare for a potential debt restructuring or bankruptcy of
indebted oil-and-gas driller Chesapeake Energy.
(END) Dow Jones Newswires
April 09, 2020 19:00 ET (23:00 GMT)
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